Resources
BNET Resources
- sort by:
- Relevance
- Date
- Popularity
- Trends In Earnings Management And Informativeness Of earnings announcements In The Pre- And Post-Sarbanes-Oxley Periods
- From the executive summary: ‘The paper presents a study which documents that firms’ management of accounting earnings increased steadily from 1987 through the second quarter of 2001, further increasing dramatically from the third quarter of 2001 until the passage of the Sarbanes-Oxley Act of 2002. This increase more than reversed...
- White papers 2004-03-01
- The Increased Importance of earnings announcements After Regulation FD: Evidence From Revisions of Analysts' Forecasts and Pre-Announcements
- Regulation Fair Disclosure (Reg FD) was issued to prevent or mitigate the selective disclosure of material information to selected analysts and investors, beginning October 23, 2000. One expected effect of Reg FD is a reduction in private disclosure of material financial information to financial analysts before the earnings announcement. If...
- White papers 2004-01-01
- Historical Financial Statements
- A positive relationship between the sign of the initial historical information and both future firm performance and subsequent quarterly earnings announcement reactions suggests that the market initially under reacts to the historical information. In particular, of the annual return difference between exante strong and weak firms is earned over...
- White papers 2002-01-01
- Capital Gains Taxes and Stock Reactions to Quarterly earnings announcements
- This paper examines the impact of capital gains taxes on equity pricing. Examining three-day cumulative abnormal returns for quarterly earning announcements from 1983-1997, it presents evidence consistent with shareholders' capital gains taxes affecting stock price responses. The results imply that shares trade at higher (lower) prices when individual investors face...
- White papers 2000-04-01
Additional Resources
- Earnings-Based and Accrual-Based Market Anomalies: One Effect or Two?
- This paper investigates whether the accrual pricing anomaly documented by Sloan (1996) for annual data holds for quarterly data and whether this form of market mispricing is distinct from the post-earnings announcement drift anomaly. We find that the market appears to overestimate (underestimate) the persistence of the accrual (cash flow)...
- White papers 1999-05-25
- Legal Alert: Roadmap to the SEC’s New Rules Regarding Earnings Releases
- As of March 28, 2003, U.S. companies that issue an earnings release will have to comply with a myriad of new SEC disclosure requirements. First, companies will be required to furnish on Form 8-K the text of an earnings release or public announcement that discloses material nonpublic information regarding their...
- White papers 2003-04-01
- Everything You Need to Know About Earnings
- Earnings mean profit; it's the money a company makes. Often evaluated in terms of Earnings Per Share (EPS), this is the most important indicator of a company's financial health. Earnings reports are released four times a year and are followed very closely by Wall Street. In the end, growing earnings...
- White papers 2003-05-23
- Announcement Of New Business Opening
- This is a template for announcement of new business openings. This letter is used to locate and endorse your company. User can modify it as per the requirement.
- Tools & templates 2007-12-01
- The World According to GAAP
- As earnings season gets underway and investors start listening to calls and reading reports, understanding how companies report earnings is critical. Earnings per share. Basic EPS. Diluted EPS. Adjusted net income diluted. GAAP earnings. Non-GAAP earnings. Enough already. Although confusion can be part of the learning process in investing, it...
- White papers 2005-04-25
- GAAP Versus Street Earnings: Making Earnings Look Higher and Smoother
- Street earnings are compared to GAAP earnings for over 29,000 annual observations and 100,000 quarterly observations from 1990 to 2000. Analysis is performed after separating firms by profitability and earnings volatility. Although there is little difference between the two types of earnings for firms with GAAP profits, firms with GAAP...
- White papers 2002-07-16
- Announcement Of Partnership Buyout
- Thinking of buying out your partner's interest? Whether the buyout is friendly or bitter or sudden or planned, there are many things you need to think about. Here is the template for announcement of partnership buyouts.
- Tools & templates 2007-12-01
- Earnings Management and Cross Listing: Are Reconciled Earnings Comparable to US Earnings?
- This paper compares the characteristics of US GAAP earnings for US firms with reconciled earnings for non-US firms cross listing on US markets. It is found that the reconciled earnings for non-US firms differ systematically from US GAAP earnings for US firms, and are characterized by more evidence of smoothing,...
- White papers 2005-01-01
- Testing Explanations for the Difference Between I/B/E/S and GAAP Earnings
- This article investigates two explanations for differences between I/B/E/S and GAAP earnings. One explanation is I/B/E/S earnings represent an attempt by analysts to satisfy the valuation requirements of investors, while GAAP numbers are influenced by the requirements of efficient contracting. Another explanation is that GAAP earnings include reversals of prior...
- White papers 2004-01-01
- Stock Returns, Aggregate Earnings Surprises, and Behavioral Finance
- We study the stock market reaction to aggregate earnings news. Previous research shows that, for individual firms, stock prices react positively to earnings news but require several quarters to fully reflect the information in earnings. We find that the relation between returns and earnings is substantially different in aggregate data....
- White papers 2003-02-01
- SEC Adopts Rules Requiring Companies to Furnish Earnings Release Form 8-K and Governing the Rules of Non-GAAP Financial Measures
- In this article the topics which are discussed related to Section 401(a) of the Sarbanes-OxleyAct are: earnings releases on Form 8-K, use of non-GAAP financial measures, regulation G, amendments to item 10. The new rules add a new Item 12 to Form 8-K requiring issuers to "furnish" to the...
- White papers 2003-01-01
- The Link Between Earnings Conservatism and Balance Sheet Conservatism
- Defining earnings conservatism as the degree to which a firm's earnings are more timely in reflecting expected losses than gains in a given fiscal year, and balance sheet conservatism as the firm's market-to-book ratio at the beginning of the year, this report hypothesizes and finds: Earnings conservatism is negatively associated...
- White papers 2004-01-01
- The Information Content of the 1999 Announcement of Funds From Operations (FFO) Changes for Real Estate Investment Trusts
- This paper examines the market response to the 1999 announcement of a change in accounting for Funds from Operations (FFO) for Real Estate Investment Trusts (REITs). This change provides an increase in transparency in the accounting statements of REITs regarding the calculation of FFO. An analysis of this announcement finds...
- White papers 2005-04-04
- Announcement Of Special Discount Offer
- To attract more customers you are giving discount, and you want announce it. Here a template for announcement of special discount offers.
- Tools & templates 2007-12-01
- Earnings Quality and Stock Returns
- An exclusive focus on bottom-line income misses important information about the quality of earnings. Accruals (the difference between accounting earnings and cash flow) are reliably, negatively associated with future stock returns. Earnings increases that are accompanied by high accruals, suggesting low-quality earnings, are associated with poor future returns. This paper...
- White papers 2004-02-01
- Revenue Growth And Stock Returns
- From the executive summary: ‘Although analysts revise their forecasts of future earnings in response to revenue and earnings surprises, they are slow to incorporate all the information in their forecast revisions. In particular analysts underestimate the extent to which revenue and earnings surprises have permanent effects on future earnings. This...
- White papers 2002-05-01
- << Previous
- page 1 of 1
- Next >>
Premier Vendor Content Whitepapers, webcasts & resources from our Power Center Sponsors
