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The Disclose or Abstain Incentive to Issue Management Guidance
16 references·3 citing·25 second hop
The Disclose or Abstain Incentive to Issue Management Guidance (2016)The Disclose or Abstain Incentive to Issu…Detecting Earnings Management (2012)Detecting Earnings ManagementThe financial reporting environment: Review of the recent literature (2010)The financial reporting envir…Corporate Governance, Accounting Outcomes, and Organizational Performance (2007)Corporate Governance, Account…The economic implications of corporate financial reporting (2005)The economic implications of …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 disclosureOn Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies (1997)Myth or Reality? The Long-Run…The New Issues Puzzle (1995)The New Issues PuzzleWhy Firms Voluntarily Disclose Bad News (1994)Why Firms Voluntarily Disclos…Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures (1993)Cross-Sectional Determinants …Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Earnings Management During Import Relief Investigations (1991)Earnings Management During Im…Disclosure, Liquidity, and the Cost of Capital (1991)Disclosure, Liquidity, and th…Discretionary disclosure (1983)Discretionary disclosureRisk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Quarterly earnings guidance and real earnings management (2022)Quarterly earnings guidance a…How Patterns of Past Guidance Provision Affect Investor Judgments: The Joint Effect of Guidance Frequency and Guidance Pattern Consistency (2016)How Patterns of Past Guidance…Strategic management guidance and insider trading activities (2015)Strategic management guidance…Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Earnings Management through Real Activities Manipulation (2003)Performance matched discretionary accrual measures (2005)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Illiquidity and stock returns: cross-section and time-series effects (2002)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)The relationship between return and market value of common stocks (1981)Investor Psychology and Security Market Under‐ and Overreactions (1998)Investor Sentiment and the Cross‐Section of Stock Returns (2006)The theory and practice of corporate finance: evidence from the field (2001)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Accounting earnings and cash flows as measures of firm performance (1994)Debt covenant violation and manipulation of accruals (1994)Earnings management and investor protection: an international comparison (2003)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)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)An Empirical Evaluation of Accounting Income Numbers (1968)Job Market Signaling (1973)Multifactor Explanations of Asset Pricing Anomalies (1996)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
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1991Earnings Management During Import Relief Investigations8,369 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
  • 1991Disclosure, Liquidity, and the Cost of Capital3,828 cited
  • 2012Detecting Earnings Management3,821 cited
  • 1995The New Issues Puzzle3,550 cited
  • 1983Discretionary disclosure3,477 cited
  • 1993Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures2,643 cited
  • 2010The financial reporting environment: Review of the recent literature2,622 cited
  • 2001Essays on disclosure2,478 cited
  • 1994Why Firms Voluntarily Disclose Bad News2,435 cited
  • 2007Corporate Governance, Accounting Outcomes, and Organizational Performance1,536 cited
  • 1997Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies

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  • 2022Quarterly earnings guidance and real earnings management22 cited
  • 2015Strategic management guidance and insider trading activities14 cited