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The Effect of Disclosures by Management, Analysts, and Financial Press on Cost of Capital, Return Volatility, and Analyst Forecasts: A Study Using Content Analysis
16 references·16 citing·31 second hopsampled
The Effect of Disclosures by Management, Analysts, and Financial Press on Cost of Capital, Return Volatility, and Analyst Forecasts: A Study Using Content Analysis (2008)The Effect of Disclosures by Management, …Accounting Information, Disclosure, and the Cost of Capital (2007)Accounting Information, Discl…The market pricing of accruals quality (2005)The market pricing of accrual…The economic implications of corporate financial reporting (2005)The economic implications of …Information and the Cost of Capital (2004)Information and the Cost of C…Liquidity Risk and Expected Stock Returns (2003)Liquidity Risk and Expected S…Conservatism in Accounting Part I: Explanations and Implications (2003)Conservatism in Accounting Pa…Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Information asymmetry, corpor…Essays on disclosure (2001)Essays on disclosureCorporate Disclosure Policy and Analyst Behavior. (1996)Corporate Disclosure Policy a…Why Firms Voluntarily Disclose Bad News (1994)Why Firms Voluntarily Disclos…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Disclosure, Liquidity, and the Cost of Capital (1991)Disclosure, Liquidity, and th…Expected stock returns and volatility (1987)Expected stock returns and vo…Asset pricing and the bid-ask spread (1986)Asset pricing and the bid-ask…Positive Accounting Theory (1985)Positive Accounting TheoryBid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Bid, ask and transaction pric…When Managers Change Their Tone, Analysts and Investors Change Their Tune (2020)When Managers Change Their To…Individual Analysts' Stock Recommendations, Earnings Forecasts, and the Informativeness of Conference Call Question and Answer Sessions (2020)Individual Analysts' Stock Re…Managing sustainability in banking: extent of sustainable banking adaptations of banking sector in India (2019)Managing sustainability in ba…Voluntary disclosure in Italy (2016)Voluntary disclosure in ItalyMedia, sentiment and market performance in the long run (2016)Media, sentiment and market p…Financial reporting language in financial statements: Does pessimism restrict the potential for managerial opportunism? (2016)Financial reporting language …Differences in Conference Call Tones: Managers vs. Analysts (2015)Differences in Conference Cal…Changes in earnings announcement tone and insider sales (2014)Changes in earnings announcem…Quantifying Animal Spirits: News Media and Sentiment in the Housing Market (2013)Quantifying Animal Spirits: N…Does XBRL Adoption Constrain Managerial Opportunism in Financial Reporting? Evidence from Mandated U.S. Filers (2013)Does XBRL Adoption Constrain …Soft Strategic Information and IPO Underpricing (2012)Soft Strategic Information an…Contrarian Share Price Reactions to Earnings Surprises (2011)Contrarian Share Price Reacti…Soft Information in Earnings Announcements: News or Noise? (2010)Soft Information in Earnings …Financial Opacity and Firm Performance: The Readability of REIT Annual Reports (2010)Financial Opacity and Firm Pe…Disclosure, conservatism and the cost of equity capital: A review of the foundation literature (2010)Disclosure, conservatism and …Measuring Qualitative Information in Capital Markets Research (2009)Measuring Qualitative Informa…Specification Tests in Econometrics (1978)Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation (1982)Generalized autoregressive conditional heteroskedasticity (1986)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Investor Psychology and Security Market Under‐ and Overreactions (1998)Market Liquidity and Funding Liquidity (2008)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)A five-factor asset pricing model (2014)The relationship between return and market value of common stocks (1981)The theory and practice of econometrics (1986)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)Earnings Management During Import Relief Investigations (1991)The theory and practice of corporate finance: evidence from the field (2001)Earnings Management through Real Activities Manipulation (2003)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)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)Performance matched discretionary accrual measures (2005)How does financial reporting quality relate to investment efficiency? (2009)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature7,391 cited
  • 2005The economic implications of corporate financial reporting6,337 cited
  • 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders6,132 cited
  • 1985Positive Accounting Theory5,837 cited
  • 2003Liquidity Risk and Expected Stock Returns5,362 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 1987Expected stock returns and volatility4,147 cited
  • 1991Disclosure, Liquidity, and the Cost of Capital3,828 cited
  • 2005The market pricing of accruals quality3,101 cited
  • 2004Information and the Cost of Capital3,057 cited
  • 2003Conservatism in Accounting Part I: Explanations and Implications2,768 cited
  • 1996Corporate Disclosure Policy and Analyst Behavior.2,743 cited
  • 2007Accounting Information, Disclosure, and the Cost of Capital2,582 cited
  • 2001Essays on disclosure2,478 cited
  • 1994Why Firms Voluntarily Disclose Bad News

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2,435 cited

Cited by

  • 2010Soft Information in Earnings Announcements: News or Noise?123 cited
  • 2010Financial Opacity and Firm Performance: The Readability of REIT Annual Reports100 cited
  • 2019Managing sustainability in banking: extent of sustainable banking adaptations of banking sector in India95 cited
  • 2015Differences in Conference Call Tones: Managers vs. Analysts93 cited
  • 2020Individual Analysts' Stock Recommendations, Earnings Forecasts, and the Informativeness of Conference Call Question and Answer Sessions87 cited
  • 2020When Managers Change Their Tone, Analysts and Investors Change Their Tune84 cited
  • 2013Quantifying Animal Spirits: News Media and Sentiment in the Housing Market78 cited
  • 2010Disclosure, conservatism and the cost of equity capital: A review of the foundation literature72 cited
  • 2016Media, sentiment and market performance in the long run59 cited
  • 2009Measuring Qualitative Information in Capital Markets Research57 cited
  • 2016Financial reporting language in financial statements: Does pessimism restrict the potential for managerial opportunism?54 cited
  • 2012Soft Strategic Information and IPO Underpricing51 cited
  • 2011Contrarian Share Price Reactions to Earnings Surprises40 cited
  • 2016Voluntary disclosure in Italy38 cited
  • 2014Changes in earnings announcement tone and insider sales23 cited
  • 2013Does XBRL Adoption Constrain Managerial Opportunism in Financial Reporting? Evidence from Mandated U.S. Filers21 cited