This study explored the factors that can influence the timeliness of financial reporting in Nigeria using a sample of 33 financial institutions (2005-2008). The Generalized Least Square (GLS) regression method was used for the estimation and the results reveal that on the average, the sampled...

We examine the relation between firm reputation and the cost of debt financing. We posit that corporate reputation represents “soft information” not captured by balance sheet variables, which is nonetheless valuable to lenders. Using Fortune magazine's survey of company reputation while...

Our study addresses whether integrated report quality, IRQ, is positively associated with greater price informativeness and the extent to which the greater price informativeness is diminished when firms have higher proprietary costs of disclosure. In integrated reports, firms integrate financial...

Morck et al. (2000) argue that lack of private property protection discourages informed traders from capitalizing on firm private information which incorporates more market risk in stock returns. This paper extends Morck et al. (2000) investigations and suggests alternatively that firm corporate...

Management earnings guidance is one of the primary sources of earnings expectations for market participants. Broadly speaking, managers disclose their guidance either quantitatively or qualitatively. Comparing these guidance forms by type of news, I find that qualitative bad news forecasts are...

Many firms define their fiscal quarters as 13-week periods. For these firms each fiscal year contains 52 weeks, which leaves out one/two day(s) a year. To compensate, one extra week is added to every fifth/sixth year; consequently, one quarter therein comprises 14 weeks. We find evidence of...

The timeliness of financial reporting has been an important topic in the accounting literature for decades. There is a tradeoff between the timeliness of reporting and the value of the information being reported. Prior to the advent of the internet, reporting had to be done using print media....

McVay (2006) shows that managers can raise reported core (pro-forma) earnings by shifting core expenses to special items. While the bulk of the literature (e.g. Teoh, Welch, and Wong, 1998; Cohen and Zarowin, 2010) has exclusively focused on accrual- and real activities-based earnings manipulation...

We investigate firms' liquidity practices around seasoned equity offerings (SEOs). We broadly classify issuers on the basis of whether the firm belongs to an industry deemed to be financially constrained or unconstrained. We find that constrained-industry issuers tend to save more cash to...

This paper examines insider trading in light of the recent Supreme Court case of United States v. O'Hagan. The authors conclude that the Supreme Court left many questions unanswered and even raised some new questions. Unless Congress defines insider trading and clarifies what constitutes illegal...