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Bad News and Differential Market Reactions to Announcements of Earlier-Quarters Versus Fourth-Quarter Earnings
16 references·16 citing·44 second hopsampled
Bad News and Differential Market Reactions to Announcements of Earlier-Quarters Versus Fourth-Quarter Earnings (1988)Bad News and Differential Market Reaction…The effects of bonus schemes on accounting decisions (2011)The effects of bonus schemes …Cross-sectional variation in the stock market response to accounting earnings announcements (1989)Cross-sectional variation in …Write-Offs As Accounting Procedures to Manage Perceptions (1988)Write-Offs As Accounting Proc…Analysts' forecasts as earnings expectations (1988)Analysts' forecasts as earnin…The distribution of earnings news over time and seasonalities in aggregate stock returns (1987)The distribution of earnings …Security analyst superiority relative to univariate time-series models in forecasting quarterly earnings (1987)Security analyst superiority …On cross-sectional analysis in accounting research (1987)On cross-sectional analysis i…An evaluation of alternative proxies for the market's assessment of unexpected earnings (1987)An evaluation of alternative …Positive Accounting Theory (1985)Positive Accounting TheoryTimeliness of Reporting and the Stock Price Reaction to Earnings Announcements (1984)Timeliness of Reporting and t…The intraday speed of adjustment of stock prices to earnings and dividend announcements (1984)The intraday speed of adjustm…An Empirical Investigation of the Effect of Quarterly Earnings Announcement Timing on Stock Returns (1984)An Empirical Investigation of…Financial analysts' forecasts of earnings (1982)Financial analysts' forecasts…Univariate Time-Series Models of Quarterly Accounting Earnings per Share: A Proposed Model (1979)Univariate Time-Series Models…The Association between Unsystematic Security Returns and the Magnitude of Earnings Forecast Errors (1979)The Association between Unsys…The Time-Series Behavior of Quarterly Earnings: Preliminary Evidence (1977)The Time-Series Behavior of Q…One Step Forward, Two Steps Back: How Negative External Evaluations Can Shorten Organizational Time Horizons (2019)One Step Forward, Two Steps B…Management Deception, Big-Bath Accounting, and Information Asymmetry: Evidence from Linguistic Analysis (2018)Management Deception, Big-Bat…Does Basel II affect the market valuation of discretionary loan loss provisions? (2016)Does Basel II affect the mark…Corporate governance and the information environment: Evidence from Chinese stock markets (2014)Corporate governance and the …Auditor Conservatism and Quarterly Earnings (2014)Auditor Conservatism and Quar…Bias in Quarterly Estimates of Annual Effective Tax Rates and Earnings Management (2012)Bias in Quarterly Estimates o…On the Market Reaction to Revenue and Earnings Surprises (2009)On the Market Reaction to Rev…Audit Committees and Voluntary External Auditor Involvement in UK Interim Reporting (2008)Audit Committees and Voluntar…The impact of regulation Fair Disclosure on investors' prior information quality — Evidence from an analysis of changes in trading volume and stock price reactions to earnings announcements (2007)The impact of regulation Fair…Corporate Compliance with Non-Mandatory Statements of Best Practice: The Case of the ASB Statement on Interim Reports (2007)Corporate Compliance with Non…The Influence of Interim Auditor Reviews on the Association of Returns with Earnings (2003)The Influence of Interim Audi…The effect of accounting-based debt covenants on equity valuation (1999)The effect of accounting-base…Option listing and the stock-price response to earnings announcements (1999)Option listing and the stock-…The Information Content of Bank Examinations (1998)The Information Content of Ba…Implications of the integral approach to quarterly reporting for the post-earnings-announcement... (1998)Implications of the integral …Cross‐Quarter Differences in Stock Price Responses to Earnings Announcements: Fourth‐Quarter and Seasonality Influences* (1994)Cross‐Quarter Differences in …An Empirical Evaluation of Accounting Income Numbers (1968)Risk and return: The case of merging firms (1974)Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)TESTING A CAUSAL MODEL OF CORPORATE RISK TAKING AND PERFORMANCE. (1991)Capital markets research in accounting (2001)The impact of corporate social responsibility on investment recommendations: Analysts' perceptions and shifting institutional logics (2014)The Combination of Forecasts (1969)Norm theory: Comparing reality to its alternatives. (1986)Herd Behavior and Investment (1988)Forecasting Economic Time Series (2000)The Behavior of Stock-Market Prices (1965)The relationship between return and market value of common stocks (1981)Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data (1989)Earnings forecasting research: its implications for capital markets research (1993)Scale Effects in Capital Markets‐Based Accounting Research (2009)Time Series Analysis: Forecasting and Control (1977)The information content of security prices (1980)Investor Sophistication and Market Earnings Expectations (1997)Revenue surprises and stock returns (2006)Trading Volume Around Earnings Announcements and Other Financial Reports: Theory, Research Design, Empirical Evidence, and Directions for Future Research* (2011)Procedural Justice: A Psychological Analysis (1975)Knee-deep in the big muddy: a study of escalating commitment to a chosen course of action (1976)Measuring security price performance (1980)Expertise in forecasting performance of security analysts (1999)The Predictive Value of Expenses Excluded from Pro Forma Earnings (2003)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Towards a Positive Theory of the Determination of Accounting Standards. (1978)Agency Problems and the Theory of the Firm (1980)The Provision of Incentives in Firms (1999)Contracting theory and accounting (2001)Dividend Policy, Growth, and the Valuation of Shares (1961)Association between accounting performance measures and stock prices (1992)Price and return models (1995)The implied cost of capital: A new approach (2011)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Capital Market Equilibrium with Restricted Borrowing (1972)Intra-industry information transfers associated with earnings releases (1981)The association between accounting earnings and security returns for large and small firms (1987)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Performance matched discretionary accrual measures (2005)The economic implications of corporate financial reporting (2005)Constraints on short-selling and asset price adjustment to private information (1987)Evidence that stock prices do not fully reflect the implications of current earnings for future earnings (1990)Driven to Distraction: Extraneous Events and Underreaction to Earnings News (2009)
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References

  • 1985Positive Accounting Theory5,837 cited
  • 2011The effects of bonus schemes on accounting decisions2,579 cited
  • 1988Analysts' forecasts as earnings expectations985 cited
  • 1989Cross-sectional variation in the stock market response to accounting earnings announcements816 cited
  • 1984Timeliness of Reporting and the Stock Price Reaction to Earnings Announcements698 cited
  • 1982Financial analysts' forecasts of earnings577 cited
  • 1987On cross-sectional analysis in accounting research541 cited
  • 1988Write-Offs As Accounting Procedures to Manage Perceptions516 cited
  • 1987Security analyst superiority relative to univariate time-series models in forecasting quarterly earnings502 cited
  • 1979The Association between Unsystematic Security Returns and the Magnitude of Earnings Forecast Errors462 cited
  • 1984The intraday speed of adjustment of stock prices to earnings and dividend announcements436 cited
  • 1987An evaluation of alternative proxies for the market's assessment of unexpected earnings401 cited
  • 1984An Empirical Investigation of the Effect of Quarterly Earnings Announcement Timing on Stock Returns334 cited
  • 1987The distribution of earnings news over time and seasonalities in aggregate stock returns305 cited

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1979
Univariate Time-Series Models of Quarterly Accounting Earnings per Share: A Proposed Model
261 cited
  • 1977The Time-Series Behavior of Quarterly Earnings: Preliminary Evidence201 cited
  • Cited by

    • 1998The Information Content of Bank Examinations148 cited
    • 2018Management Deception, Big-Bath Accounting, and Information Asymmetry: Evidence from Linguistic Analysis105 cited
    • 2008Audit Committees and Voluntary External Auditor Involvement in UK Interim Reporting94 cited
    • 2007The impact of regulation Fair Disclosure on investors' prior information quality — Evidence from an analysis of changes in trading volume and stock price reactions to earnings announcements91 cited
    • 2019One Step Forward, Two Steps Back: How Negative External Evaluations Can Shorten Organizational Time Horizons80 cited
    • 2007Corporate Compliance with Non-Mandatory Statements of Best Practice: The Case of the ASB Statement on Interim Reports76 cited
    • 2003The Influence of Interim Auditor Reviews on the Association of Returns with Earnings75 cited
    • 1999The effect of accounting-based debt covenants on equity valuation73 cited
    • 2009On the Market Reaction to Revenue and Earnings Surprises70 cited
    • 1994Cross‐Quarter Differences in Stock Price Responses to Earnings Announcements: Fourth‐Quarter and Seasonality Influences*67 cited
    • 2014Auditor Conservatism and Quarterly Earnings65 cited
    • 2012Bias in Quarterly Estimates of Annual Effective Tax Rates and Earnings Management64 cited
    • 1998Implications of the integral approach to quarterly reporting for the post-earnings-announcement...63 cited
    • 1999Option listing and the stock-price response to earnings announcements58 cited
    • 2016Does Basel II affect the market valuation of discretionary loan loss provisions?57 cited
    • 2014Corporate governance and the information environment: Evidence from Chinese stock markets54 cited