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- Publications
- Influence
Over-investment of free cash flow
- S. Richardson
- Business
- 21 February 2006
This paper examines the extent of firm level over-investment of free cash flow. Using an accounting-based framework to measure over-investment and free cash flow, I find evidence that, consistent… Expand
Accrual Reliability, Earnings Persistence and Stock Prices
- S. Richardson, Richard G. Sloan, Mark T. Soliman, A. Tuna
- Economics
- 1 September 2005
This paper extends the work of Sloan (1996) by linking accrual reliability to earnings persistence. We construct a model showing that less reliable accruals lead to lower earnings persistence. We… Expand
Why Are Earnings Kinky? An Examination of the Earnings Management Explanation
- Patricia M. Dechow, S. Richardson, Irem Tuna
- Economics
- 22 September 2003
Prior research has documented a “kink” in the earnings distribution: too few firms report small losses, too many firms report small profits. We investigate whether boosting of discretionary accruals… Expand
The Walk-down to Beatable Analyst Forecasts: The Role of Equity Issuance and Insider Trading Incentives*
- S. Richardson, S. H. Teoh, P. Wysocki
- Business
- 1 December 2004
Security regulators and the business press have alleged that firms play an 'earnings-guidance game' where analysts make optimistic forecasts at the start of the year and then 'walk down' their… Expand
The relation between corporate financing activities, analysts’ forecasts and stock returns
- M. T. Bradshaw, S. Richardson, Richard G. Sloan
- Business
- 25 May 2006
We develop a comprehensive and parsimonious measure of corporate financing activities and document a negative relation between this measure and both future stock returns and future profitability. The… Expand
Fees Paid to Audit Firms, Accrual Choices, and Corporate Governance
- David F. Larcker, S. Richardson
- Business
- 1 June 2004
We examine the relation between the fees paid to auditors for audit and non‐audit services, and the choice of accrual measures for a large sample of firms. Using our pooled sample, we find that the… Expand
Do Analysts and Auditors Use Information in Accruals
- M. T. Bradshaw, S. Richardson, Richard G. Sloan
- Business
- 1 June 2001
type="main" xml:lang="en"> Existing research indicates that firms with high accruals are more likely to experience future earnings problems, but that investors' expectations, as reflected in stock… Expand
Predicting Earnings Management: The Case of Earnings Restatements
- S. Richardson, A. Tuna, Min Wu
- Economics
- 1 October 2002
This paper examines the usefulness of accounting information in predicting earnings management. We investigate a comprehensive sample of firms from 1971-2000 that restated annual earnings. We find… Expand
Accounting Anomalies and Fundamental Analysis: A Review of Recent Research Advances
- S. Richardson, Irem Tuna, P. Wysocki
- Economics
- 15 September 2010
We survey recent research in accounting anomalies and fundamental analysis. We use forecasting of future earnings and returns as our organizing framework and suggest a roadmap for research aiming to… Expand
Earnings Quality and Short Sellers
- S. Richardson
- Business
- 9 June 2003
A key measure of earnings quality is the deviation of net income from operating cash flows. Sloan (1996) finds that firms with high accruals (or a large gap between net income and operating cash… Expand