We examine whether rational investor responses to information uncertainty (IU) explain properties of and returns to the post-earnings-announcement-drift (PEAD) trading anomaly. Consistent with a rational learning explanation, we find that: (1) unexpected earnings (UE) signals that are...

We examine whether rational investor responses to information uncertainty explain properties of and returns to accounting-based trading anomalies. We proxy for information uncertainty with two measures of earnings quality: the standard deviation of the residuals from a Dechow and Dichev (2002)...

We analyze the link between financial reporting choices that affect accruals quality and firms' use of call options. We argue that call options used in compensation arrangements (employee stock options or ESOs) create countervailing incentives for managers to affect accruals quality. On the one...

Ecosystem stewardship is an action-oriented framework intended to foster social-ecological sustainability of a rapidly changing planet. Recent developments identify three strategies that make optimal use of current understanding in an environment of inevitable uncertainty and abrupt change:...

Over the last few decades India has emerged as an economic giant. In 2000 the Special Economic Zone (SEZs) policy became part of a strategy to maintain high growth and promote India’s manufacturing sector. However, India’s current SEZ policy does little to strengthen India’s...

The notion of ‘planetary boundaries’ is rapidly diffusing into a range of policy arenas and has clearly stimulated a discussion on the need to reform international environmental governance. This article summarizes the special section “Global Environmental Governance and Planetary...

Planetary boundaries and their interactions pose severe challenges for global environmental governance due to their inherent uncertainties and complex multi-scale dynamics. Here we explore the global governance challenge posed by planetary boundaries interactions by focusing on the role of...

The need for improved stewardship of coastal and marine resources is evident worldwide. However, complex ecosystem dynamics, institutional inertia, and budgetary constraints impede such action. This study explores how networks of change-oriented individuals or “institutional entrepreneurs”...