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Costs of Equity and Earnings Attributes
We examine the relation between the cost of equity capital and seven attributes of earnings: accrual quality, persistence, predictability, smoothness, value relevance, timeliness, and conservatism.Expand
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Have financial statements lost their relevance
The authors explore the concern that financial statements no longer have the same relevance to investors that they had in the past. They test for “value relevance” by measuring the total return thatExpand
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Voluntary Disclosure, Earnings Quality, and Cost of Capital
ABSTRACT We investigate the relations among voluntary disclosure, earnings quality, and cost of capital. We find that firms with good earnings quality have more expansive voluntary disclosures (asExpand
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Causes and effects of discretionary asset write-offs
This paper provides evidence on the causes and shareholder wealth effects of discretionary asset write-offs. We use the term "write-off" to refer to both complete and partial downward assetExpand
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CEO Reputation and Earnings Quality
We examine the association between CEO reputation (proxied by the extent of press coverage) and the quality of the firm's earnings (proxied by two accruals-based measures). We test three explanationsExpand
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Information Uncertainty and Post-Earnings-Announcement-Drift
We examine whether rational investor responses to information uncertainty (IU) explain properties of and returns to the post-earnings-announcement-drift (PEAD) trading anomaly. Consistent with aExpand
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A Returns‐Based Representation of Earnings Quality
We examine the properties of a returns‐based representation of earnings quality, estimated from firm‐specific asset‐pricing regressions augmented by an earnings quality mimicking factor. TheExpand
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Earnings and dividend informativeness when cash flow rights are separated from voting rights
We contrast the informativeness of earnings and dividends for firms with dual class and single class ownership structures. Results of both across-sample tests (which explicitly control for factorsExpand
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