We examine whether quarterly reports resolve uncertainty about how accruals map to cash flows and, correspondingly, how to price earnings. Although existing studies suggest quarterly reports released concurrently with earnings depress trading due to information overload, we predict that...

The disposition effect is the tendency of investors to sell stocks that have recently increased in value and hold stocks that have recently decreased in value. Although some evidence suggests that investor attention mitigates the disposition effect, this study finds that a certain type of...