The purpose of this paper is to examine determinants of financial information disclosure by Tunisian companies. The methodology is based on qualitative approach, using the cognitive mapping technique. To take into account the specificities of the Tunisian economic, we felt that it is essential...

Der vorliegende Beitrag untersucht, ob der Mehrheitsaktionär einer Gesellschaft im Vorfeld eines Zwangsausschlusses von Minderheitsaktionären (sog. Squeeze-Out) versucht, die Kapitalmarkterwartungen negativ zu beeinflussen. Ein solches 'manipulatives' Verhalten wird häufig in der juristischen...

Der vorliegende Beitrag untersucht, ob der Mehrheitsaktionär einer Gesellschaftim Vorfeld eines Zwangsausschlusses von Minderheitsaktionären (sog.Squeeze-Out) versucht, die Kapitalmarkterwartungen negativ zu beeinussen.Ein solches "manipulatives\ Verhalten wird häufig in der juristischen wie...

Der vorliegende Beitrag untersucht, ob der Mehrheitsaktionär einer Gesellschaft im Vorfeld eines Zwangsausschlusses von Minderheitsaktionären (sog. Squeeze-Out) versucht, die Kapitalmarkterwartungen negativ zu beeinflussen. Ein solches "manipulatives" Verhalten wird häufig in der juristischen...

The purpose of this paper is to examine determinants of financial information disclosure by Tunisian companies. The methodology is based on qualitative approach, using the cognitive mapping technique. To take into account the specificities of the Tunisian economic, we felt that it is essential...

We examine the valuation of financial statement note information at the time of 10-K filings. We find that stock returns around 10-K filings are positively related to accounting adjustments calculated from financial statement note information. We further document that the likelihood of equity...

We examine firms' financial reporting practices during stub periods that are induced by fiscal year changes and not covered by regular quarters. We find that firms report much lower income for the missing months than for adjacent quarters, mainly by recording higher operating expenses. We also...

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations and estimate the implied cost of capital (ICC) for a large sample of firms over 1968-2008. The earnings forecasts generated by the cross-sectional model are superior to analysts' forecasts in terms of...

As an alternative way to shed light on the debate over whether the modified Dechow and Dichev (2002) AQ measure is a priced risk factor, we examine the effect of seasonality on the pricing of AQ. We find that (1) high AQ stocks outperform low AQ stocks only in January; (2) during the rest of the...

We investigate the joint hypothesis that a) tax expense contains information about core profitability that is incremental to reported earnings and b) that information is reflected in stock prices with a delay. We find that seasonally-differenced quarterly tax expense, our proxy for tax expense...