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Street Earnings and Board Independence
16 references·0 citing·38 second hop
Street Earnings and Board Independence (2004)Street Earnings and Board IndependenceLimited attention, information disclosure, and financial reporting (2003)Limited attention, informatio…Audit committee, board of director characteristics, and earnings management (2002)Audit committee, board of dir…Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Information asymmetry, corpor…Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (2001)Boards of Directors as an End…A Guide to Modern Econometrics (2000)A Guide to Modern EconometricsCorporate governance, chief executive officer compensation, and firm performance (1999)Corporate governance, chief e…Law and Finance (1998)Law and FinanceIndustry costs of equity (1997)Industry costs of equityAn Empirical Analysis of the Relation between the Board of Director Composition and Financial Statement Fraud (1997)An Empirical Analysis of the …Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* (1996)Causes and Consequences of Ea…The information content of losses (1995)The information content of lo…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Evidence that stock prices do not fully reflect the implications of current earnings for future earnings (1990)Evidence that stock prices do…Agency Problems and Residual Claims (1983)Agency Problems and Residual …Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Earnings Management During Import Relief Investigations (1991)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Detecting Earnings Management. (1995)Earnings Management through Real Activities Manipulation (2003)The economic implications of corporate financial reporting (2005)Separation of Ownership and Control (1983)Opaque financial reports, R2, and crash risk☆ (2009)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)Management ownership and market valuation (1988)Higher market valuation of companies with a small board of directors (1996)Corporate Governance and Equity Prices (2003)On the use of instrumental variables in accounting research (2009)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Legal Determinants of External Finance (1997)Corporate Ownership Around the World (1999)Investor protection and corporate governance (2000)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Corporate financing and investment decisions when firms have information that investors do not have (1984)Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis (2007)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)Theory of Value (1959)Auditor size and audit quality (1981)Strategic assets and organizational rent (1993)A Survey of Corporate Governance (1997)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1998Law and Finance17,902 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature7,391 cited
  • 1997Industry costs of equity5,793 cited
  • 1983Agency Problems and Residual Claims4,877 cited
  • 2002Audit committee, board of director characteristics, and earnings management4,633 cited
  • 1999Corporate governance, chief executive officer compensation, and firm performance4,334 cited
  • 1996Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC*4,076 cited
  • 1997An Empirical Analysis of the Relation between the Board of Director Composition and Financial Statement Fraud3,518 cited
  • 2001Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature2,499 cited
  • 2003Limited attention, information disclosure, and financial reporting2,339 cited
  • 1995The information content of losses2,315 cited
  • 1990

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Evidence that stock prices do not fully reflect the implications of current earnings for future earnings
2,010 cited
  • 2000A Guide to Modern Econometrics1,762 cited
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