Corpus ID: 17814347

Essays on mandatory and voluntary disclosure : the stock market reaction to mandatory segment reporting changes and the credibility of voluntary management forecasts

@inproceedings{Park2006EssaysOM,
  title={Essays on mandatory and voluntary disclosure : the stock market reaction to mandatory segment reporting changes and the credibility of voluntary management forecasts},
  author={Jong Chool Park},
  year={2006}
}
My dissertation examines the stock market’s assessment of corporate mandatory and voluntary disclosure. Specifically, the first part of the dissertation investigates the stock market reaction to the mandatory segment reporting changes and the second part studies how the stock market assesses credibility of voluntary management forecasts. The dissertation is composed of two essays. The first essay examines the impact of SFAS 131 on the extent to which stock prices incorporate industry-wide and… Expand

References

SHOWING 1-10 OF 85 REFERENCES
The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices
We investigate the extent to which the trading and trade-generating activities of three informed market participants -- financial analysts, institutional investors, and insiders -- influence theExpand
CORPORATE FORECASTS OF EARNINGS PER SHARE AND STOCK-PRICE BEHAVIOR - EMPIRICAL TESTS
The disclosure of corporate forecasts of projected annual earnings was a topic of intensive debate within the investment community during the years 1970-75. Questions of accuracy, objectivity,Expand
CROSS- SECTIONAL DETERMINANTS OF ANALYST RATINGS OF CORPORATE DISCLOSURES
In this paper we examine cross-sectional variation in analysts' published evaluations of firms' disclosure practices and provide evidence that the analysts' ratings are increasing in firm size and inExpand
The Impact of SFAS No. 131 Business Segment Data on the Market's Ability to Anticipate Future Earnings
This study investigates the effect of firms' adoption of SFAS No. 131 segment disclosure rules on the stock market's ability to predict the firms' earnings, as captured by the forward earningsExpand
The impact of SEC's segment disclosure requirement on bid-ask spreads
SYNOPSIS AND INTRODUCTION: Lev (1988) asserts that reducing inequities among investors should result in thicker markets with smaller bid-ask spreads and greater liquidity of securities. He claimsExpand
Corporate Disclosure Policy and the Informativeness of Stock Prices
We examine the association between voluntary corporate disclosure and the informativeness of stock prices. We measure corporate disclosure using the AIMR-FAF annual corporate disclosure ratings. WeExpand
Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments
Author(s): Greenstone, Michael; Oyer, Paul E; Vissing-Jorgensen, Annette | Abstract: The 1964 Securities Acts Amendments extended the mandatory disclosure requirements that had applied to listedExpand
Earnings Performance and Discretionary Disclosures
While the influence of earnings performance on disclosure is a fundamental issue in the disclosure literature, our understanding of this influence is limited. In this paper, I examine a comprehensiveExpand
Financial Distress and the Credibility of Management Earnings Forecasts
This study examines the relation between financial distress, bias in forecasting, and the credibility of voluntary earnings forecasts made by management. Prior research suggests that penalties toExpand
Analysts' Incentives to Produce Firm-Specific versus Industry-Level Information: Theory and Evidence
This paper analyzes the incentives of financial analysts to produce firm-specific versus industry-level information. We first develop a theoretical model in which an analyst covering a stock producesExpand
...
1
2
3
4
5
...