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Long-run abnormal returns and income smoothing in the Spanish stock market
16 references·6 citing·38 second hopsampled
Long-run abnormal returns and income smoothing in the Spanish stock market (2004)Long-run abnormal returns and income smoo…The World Price of Earnings Opacity (2003)The World Price of Earnings O…Earnings management and investor protection: an international comparison (2003)Earnings management and inves…The effect of international institutional factors on properties of accounting earnings (2000)The effect of international i…Long-Term Performance of Seasoned Equity Offerings: Benchmark Errors and Biases in Expectations (2000)Long-Term Performance of Seas…Country-Specific Factors Related to Financial Reporting and the Value Relevance of Accounting Data (2000)Country-Specific Factors Rela…Analyst Activity Around the World (2000)Analyst Activity Around the W…Improved Methods for Tests of Long‐Run Abnormal Stock Returns (1999)Improved Methods for Tests of…Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)Market efficiency, long-term …Measuring long-horizon security price performance (1997)Measuring long-horizon securi…Do Firms Knowingly Sell Overvalued Equity? (1997)Do Firms Knowingly Sell Overv…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…Underperformance in long-run stock returns following seasoned equity offerings (1995)Underperformance in long-run …The New Issues Puzzle (1995)The New Issues PuzzleA MARKET BASED ANALYSIS OF INCOME SMOOTHING (1995)A MARKET BASED ANALYSIS OF IN…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Income Smoothing Hypothesis Revisited (1981)The Income Smoothing Hypothes…Does Real Earnings Smoothing Reduce Investors’ Perceived Risk? (2019)Does Real Earnings Smoothing …Income Smoothing Behavior at the Times of Political Crises (2017)Income Smoothing Behavior at …Evidence of earnings management using accruals as a measure of accounting discretion (2012)Evidence of earnings manageme…Effects of income smoothing practices on the conservatism of public companies listed on the BM & FBOVESPA (2012)Effects of income smoothing p…The smoothing hypothesis, stock returns and risk in Brazil (2011)The smoothing hypothesis, sto…Fair value versus historic cost-valuation for biological assets: Implications for the quality of financial information (2009)Fair value versus historic co…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)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)A model of investor sentiment /Equity issues and offering dilution (1986)Seasoned Offerings, Imitation Costs, and the Underpricing of Initial Public Offerings (1989)Investor Psychology and Security Market Under‐ and Overreactions (1998)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Using daily stock returns (1985)Capital markets research in accounting (2001)Introductory Econometrics for Finance (2008)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Do Investors Trade Too Much? (1999)Managerial Decisions and Long‐Term Stock Price Performance (2000)The Economic Costs of Conflict: A Case Study of the Basque Country (2003)The relationship between return and market value of common stocks (1981)An Empirical Evaluation of Accounting Income Numbers (1968)Legal Determinants of External Finance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)The economic implications of corporate financial reporting (2005)International Accounting Standards and Accounting Quality (2008)Macroeconomics and Reality (1980)R2 around the world: New theory and new tests☆ (2005)The Joint Effect of Investor Protection and Big 4 Audits on Earnings Quality around the World* (2008)Nonfinancial Disclosure and Analyst Forecast Accuracy: International Evidence on Corporate Social Responsibility Disclosure (2012)Investor Psychology and Asset Pricing (2001)More Than Words: Quantifying Language to Measure Firms' Fundamentals (2008)Presidential Address: Discount Rates (2011)Uniformly least powerful tests of market efficiency (2000)Short-sellers, fundamental analysis, and stock returns (2001)Econometrics of Event Studies**We thank Espen Eckbo, Jon Lewellen, Adam Kolasinski, and Jay Ritter for insightful comments, and Irfan Safdar and Alan Wancier for research assistance. (2007)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 2003Earnings management and investor protection: an international comparison5,395 cited
  • 1995The New Issues Puzzle3,550 cited
  • 2000The effect of international institutional factors on properties of accounting earnings3,198 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1998Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.12,572 cited
  • 1999Improved Methods for Tests of Long‐Run Abnormal Stock Returns1,826 cited
  • 2003The World Price of Earnings Opacity1,205 cited
  • 1995Underperformance in long-run stock returns following seasoned equity offerings1,005 cited
  • 1997Measuring long-horizon security price performance991 cited
  • 2000Country-Specific Factors Related to Financial Reporting and the Value Relevance of Accounting Data919 cited
  • 1997Do Firms Knowingly Sell Overvalued Equity?307 cited
  • 1981The Income Smoothing Hypothesis Revisited271 cited
  • 2000Long-Term Performance of Seasoned Equity Offerings: Benchmark Errors and Biases in Expectations

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230 cited
  • 2000Analyst Activity Around the World229 cited
  • 1995A MARKET BASED ANALYSIS OF INCOME SMOOTHING159 cited
  • Cited by

    • 2011The smoothing hypothesis, stock returns and risk in Brazil33 cited
    • 2012Effects of income smoothing practices on the conservatism of public companies listed on the BM & FBOVESPA32 cited
    • 2012Evidence of earnings management using accruals as a measure of accounting discretion27 cited
    • 2009Fair value versus historic cost-valuation for biological assets: Implications for the quality of financial information18 cited
    • 2019Does Real Earnings Smoothing Reduce Investors’ Perceived Risk?16 cited
    • 2017Income Smoothing Behavior at the Times of Political Crises16 cited