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Income Smoothing and Idiosyncratic Volatility
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Income Smoothing and Idiosyncratic Volatility (2009)Income Smoothing and Idiosyncratic Volati…Detecting Earnings Management (2012)Detecting Earnings ManagementUnderstanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Understanding earnings qualit…The economic implications of corporate financial reporting (2005)The economic implications of …Liquidity Risk and Expected Stock Returns (2003)Liquidity Risk and Expected S…Earnings management and investor protection: an international comparison (2003)Earnings management and inves…The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…Audit committee, board of director characteristics, and earnings management (2002)Audit committee, board of dir…Industry costs of equity (1997)Industry costs of equityDetecting Earnings Management. (1995)Detecting Earnings Management.The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Asset pricing and the bid-ask spread (1986)Asset pricing and the bid-ask…Positive Accounting Theory (1985)Positive Accounting TheoryTheory 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…Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Investigating Causal Relation…FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)FINANCIAL RATIOS, DISCRIMINAN…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Common risk factors in the returns on stocks and bonds (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)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)On Persistence in Mutual Fund Performance (1997)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Corporate financing and investment decisions when firms have information that investors do not have (1984)Earnings Management During Import Relief Investigations (1991)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The theory and practice of corporate finance: evidence from the field (2001)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)International Accounting Standards and Accounting Quality (2008)Performance matched discretionary accrual measures (2005)Earnings Management through Real Activities Manipulation (2003)Financial Ratios and the Probabilistic Prediction of Bankruptcy (1980)Managerial incentives and risk-taking☆ (2005)How does financial reporting quality relate to investment efficiency? (2009)Oil and the Macroeconomy since World War II (1983)Giving Content to Investor Sentiment: The Role of Media in the Stock Market (2007)Testing for Granger non-causality in heterogeneous panels (2012)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1969Investigating Causal Relations by Econometric Models and Cross-spectral Methods22,971 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY14,869 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1995Detecting Earnings Management.6,532 cited
  • 2005The economic implications of corporate financial reporting6,337 cited
  • 1985Positive Accounting Theory5,837 cited
  • 1997Industry costs of equity5,793 cited
  • 2003Earnings management and investor protection: an international comparison5,395 cited
  • 2003Liquidity Risk and Expected Stock Returns5,362 cited
  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 2002Audit committee, board of director characteristics, and earnings management4,633 cited
  • 2010Understanding earnings quality: A review of the proxies, their determinants and their consequences4,171 cited

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