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Quality of Financial Reporting Choice: Determinants and Economic Consequences
16 references·16 citing·30 second hopsampled
Quality of Financial Reporting Choice: Determinants and Economic Consequences (2003)Quality of Financial Reporting Choice: De…The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Information asymmetry, corpor…Econometric Analysis of Cross Section and Panel Data (2001)Econometric Analysis of Cross…Industry costs of equity (1997)Industry costs of equityDisclosure level and the cost of equity capital. (1997)Disclosure level and the cost…Multifactor Explanations of Asset Pricing Anomalies (1996)Multifactor Explanations of A…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Disclosure, Liquidity, and the Cost of Capital (1991)Disclosure, Liquidity, and th…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…Limited-dependent and qualitative variables in econometrics (1983)Limited-dependent and qualita…Discretionary disclosure (1983)Discretionary disclosureTheory 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…Analysis of annual report disclosure quality for listed companies in transition countries (2017)Analysis of annual report dis…International Financial Reporting Standards, board governance, and accounting quality (2016)International Financial Repor…The value relevance of risk disclosure in annual reports: Evidence from MENA emerging markets (2015)The value relevance of risk d…Financial Reporting Quality - Before and After IFRS Adoption Using NiCE Qualitative Characteristics Measurement (2015)Financial Reporting Quality -…Linking industry concentration to proprietary costs and disclosure: Challenges and opportunities (2014)Linking industry concentratio…IFRS adoption and accounting quality: The case of South Africa (2013)IFRS adoption and accounting …Firm and Investor Responses to Uncertain Tax Benefit Disclosure Requirements (2013)Firm and Investor Responses t…Are Sin Stocks Paying the Price for Accounting Sins? (2011)Are Sin Stocks Paying the Pri…ANALISIS FAKTOR-FAKTOR PENENTU PERSISTENSI LABA (2010)ANALISIS FAKTOR-FAKTOR PENENT…Firm Characteristics and Informed Trading: Implications for Asset Pricing (2008)Firm Characteristics and Info…Accounting quality and the adoption of IASB standards: portuguese evidence (2008)Accounting quality and the ad…The Impact of Legal and Voluntary Investor Protection on the Early Adoption of International Financial Reporting Standards (IFRS) (2007)The Impact of Legal and Volun…Do core and non-core cash flows from operations persist differentially in predicting future cash flows? (2007)Do core and non-core cash flo…Shareholder rights, financial disclosure and the cost of equity capital (2006)Shareholder rights, financial…On the Relationship between Voluntary Disclosure, Earnings Smoothing and the Value-Relevance of Earnings: The Case of Switzerland (2006)On the Relationship between V…Information Uncertainty and Stock Returns (2004)Information Uncertainty and S…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)Illiquidity and stock returns: cross-section and time-series effects (2002)Market Liquidity and Funding Liquidity (2008)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)A five-factor asset pricing model (2014)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)Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation (1982)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Another look at the instrumental variable estimation of error-components models (1995)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Corporate social responsibility and access to finance (2013)The China Syndrome: Local Labor Market Effects of Import Competition in the United States (2013)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)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Separation of Ownership and Control (1983)Law and Finance (1998)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)Performance matched discretionary accrual measures (2005)The economic implications of corporate financial reporting (2005)Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers Through Backward Linkages (2004)Introductory Econometrics for Finance (2008)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 2001Econometric Analysis of Cross Section and Panel Data27,575 cited
  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1983Limited-dependent and qualitative variables in econometrics13,257 cited
  • 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature7,391 cited
  • 1996Multifactor Explanations of Asset Pricing Anomalies6,710 cited
  • 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders6,132 cited
  • 1985Positive Accounting Theory5,837 cited
  • 1997Industry costs of equity5,793 cited
  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 1991Disclosure, Liquidity, and the Cost of Capital3,828 cited
  • 1997Disclosure level and the cost of equity capital.3,577 cited

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  • 1983Discretionary disclosure3,477 cited
  • Cited by

    • 2004Information Uncertainty and Stock Returns179 cited
    • 2011Are Sin Stocks Paying the Price for Accounting Sins?159 cited
    • 2006Shareholder rights, financial disclosure and the cost of equity capital152 cited
    • 2014Linking industry concentration to proprietary costs and disclosure: Challenges and opportunities131 cited
    • 2008Accounting quality and the adoption of IASB standards: portuguese evidence112 cited
    • 2015The value relevance of risk disclosure in annual reports: Evidence from MENA emerging markets111 cited
    • 2013Firm and Investor Responses to Uncertain Tax Benefit Disclosure Requirements98 cited
    • 2007Do core and non-core cash flows from operations persist differentially in predicting future cash flows?92 cited
    • 2006On the Relationship between Voluntary Disclosure, Earnings Smoothing and the Value-Relevance of Earnings: The Case of Switzerland87 cited
    • 2010ANALISIS FAKTOR-FAKTOR PENENTU PERSISTENSI LABA81 cited
    • 2015Financial Reporting Quality - Before and After IFRS Adoption Using NiCE Qualitative Characteristics Measurement81 cited
    • 2007The Impact of Legal and Voluntary Investor Protection on the Early Adoption of International Financial Reporting Standards (IFRS)76 cited
    • 2008Firm Characteristics and Informed Trading: Implications for Asset Pricing70 cited
    • 2017Analysis of annual report disclosure quality for listed companies in transition countries64 cited
    • 2013IFRS adoption and accounting quality: The case of South Africa59 cited
    • 2016International Financial Reporting Standards, board governance, and accounting quality49 cited