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Changes in the value-relevance of earnings and book values over the past forty years
This paper investigates systematic changes in the value-relevance of earnings and book values over time. We report three primary findings. First, contrary to claims in the professional literature,Expand
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The Effect of Reporting Frequency on the Timeliness of Earnings: The Cases of Voluntary and Mandatory Interim Reports
We examine whether financial reporting frequency affects the speed with which accounting information is reflected in security prices. For a sample of 28,824 reporting-frequency observations from 1950Expand
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The Predictive Role of Analyst Coverage Intensity: Evidence from Cross-Listing in the U.S.
This paper investigates financial analysts' predictive power of future performance and earnings quality, based on their selective coverage of firms that have recently cross-listed into the U.S. ThisExpand
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Tax Planning by Mutual Funds: Evidence from Changes in the Capital Gains Tax Rate
We investigate whether mutual funds engage in tax planning by testing how they respond to changes in the capital gains tax rates. While previous evidence suggests that individual investors timeExpand
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Discussion of Firm Valuation Effects of the Expatriation of U.S. Corporations to Tax‐Haven Countries
INTRODUCTION Cloyd et al. (2003b) (hereafter CMW) investigate the following primary research question: Do firms experience a positive stock price reaction upon announcing they are moving theirExpand
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Discussion of “An Empirical Examination of Tax Factors and Mutual Funds' Stock Sales Decisions”
Huddart and Narayanan use quarterly data on the portfolio composition of mutual funds to investigate whether mutual fund managers engage in tax planning. More specifically, they ask whether capitalExpand
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The Predictive Role of Analyst Coverage Intensity: Evidence from Cross-Listing in the US
This paper investigates financial analysts' predictive power of future performance and earnings quality, based on their selective coverage of firms that have recently cross-listed into the U.S. ThisExpand
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