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Do Stock Prices Fully Reflect the Implications of Special Items for Future Earnings?
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Cited by:
- Rouen, Ethan & So, Eric C. & Wang, Charles C.Y., 2021. "Core earnings: New data and evidence," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1068-1091.
- Theodore E. Christensen & Kenneth J. Merkley & Jennifer Wu Tucker & Shankar Venkataraman, 2011. "Do managers use earnings guidance to influence street earnings exclusions?," Review of Accounting Studies, Springer, vol. 16(3), pages 501-527, September.
- Mary Hill & Peter Johnson & Kelvin Liu & Thomas Lopez, 2015. "Operational restructurings: where’s the beef?," Review of Quantitative Finance and Accounting, Springer, vol. 45(4), pages 721-755, November.
- Henk Berkman & Cameron Truong, 2009. "Event Day 0? After‐Hours Earnings Announcements," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 47(1), pages 71-103, March.
- B Korcan Ak & Patricia M Dechow & Yuan Sun & Annika Yu Wang, 2013. "The use of financial ratio models to help investors predict and interpret significant corporate events," Australian Journal of Management, Australian School of Business, vol. 38(3), pages 553-598, December.
- Nerissa C. Brown & Theodore E. Christensen & W. Brooke Elliott & Richard D. Mergenthaler, 2012. "Investor Sentiment and Pro Forma Earnings Disclosures," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 50(1), pages 1-40, March.
- Gary M. Entwistle & Glenn D. Feltham & Chima Mbagwu, 2012. "Credibility Attributes and Investor Perceptions of Non‐GAAP Earnings Exclusions," Accounting Perspectives, John Wiley & Sons, vol. 11(4), pages 229-257, December.
- Peng-Chia Chiu & Timothy D. Haight, 2020. "Investor learning, earnings signals, and stock returns," Review of Quantitative Finance and Accounting, Springer, vol. 54(2), pages 671-698, February.
- Yong Gyu Lee, 2014. "An examination of restructuring charges surrounding the implementation of SFAS 146," Review of Accounting Studies, Springer, vol. 19(2), pages 539-572, June.
- James A. Ohlson & Jagadison K. Aier, 2009. "On the Analysis of Firms' Cash Flows," Contemporary Accounting Research, John Wiley & Sons, vol. 26(4), pages 1091-1114, December.
- Jarva, Henry & Kallunki, Juha-Pekka & Livne, Gilad, 2019. "Earnings performance measures and CEO turnover: Street versus GAAP earnings," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 249-266.
- Wayne R. Landsman & Bruce L. Miller & Shu Yeh, 2007. "Implications of Components of Income Excluded from Pro Forma Earnings for Future Profitability and Equity Valuation," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(3‐4), pages 650-675, April.
- Joy Begley & Gerald A. Feltham, 2002. "The Relation between Market Values, Earnings Forecasts, and Reported Earnings," Contemporary Accounting Research, John Wiley & Sons, vol. 19(1), pages 1-48, March.
- Peter M. Johnson & Thomas J. Lopez & Trevor L. Sorensen, 2021. "Did SFAS 141/142 improve the market’s understanding of net assets, goodwill, or other intangible assets?," Review of Quantitative Finance and Accounting, Springer, vol. 56(3), pages 891-915, April.
- Chih-Ying Chen, 2010. "Do analysts and investors fully understand the persistence of the items excluded from Street earnings?," Review of Accounting Studies, Springer, vol. 15(1), pages 32-69, March.
- Clare Roberts & Yue Wang, 2009. "Accounting harmonization and the value‐relevance of dirty surplus accounting flows," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 8(4), pages 340-368, October.
- Imen Khanchel El Mehdi, 2014. "Accrual and cash flow anomalies in diversified firms: Impact of segment portfolio management," Working Papers 2014-76, Department of Research, Ipag Business School.
- Sudipta Basu & Yi Liang, 2019. "Director–Liability–Reduction Laws and Conditional Conservatism," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 57(4), pages 889-917, September.
- Gardner, Jesse & Sloan, Richard G. & Yoon, Joon Sang, 2024. "Distinguishing between recurring and nonrecurring components of earnings using unobserved components modeling," Journal of Accounting and Economics, Elsevier, vol. 78(1).
- repec:ipg:wpaper:2014-076 is not listed on IDEAS
- Laiyang Ke & Benedict S. Jimenez, 2024. "The interesting case of special and extraordinary items: What are they and how do they influence municipal government finances?," Public Budgeting & Finance, Wiley Blackwell, vol. 44(2), pages 69-89, June.
- Vinay Goyal & Subrata K. Mitra, 2022. "Is the asymmetric impact of aggregate revenue and aggregate earnings on the stock index in accordance with the prospect theory?," International Review of Finance, International Review of Finance Ltd., vol. 22(1), pages 200-222, March.
- Edward J. Riedl & Suraj Srinivasan, 2007. "Signaling Firm Performance Through Financial Statement Presentation: An Analysis Using Special Items," Harvard Business School Working Papers 09-031, Harvard Business School.
- Chen, Shimin & Wang, Yuetang, 2004. "Evidence from China on the value relevance of operating income vs. below-the-line items," The International Journal of Accounting, Elsevier, vol. 39(4), pages 339-364.
- Yuta Shibasaki & Chikara Toyokura, 2019. "The Disclosure of Non-GAAP Performance Measures and the Adoption of IFRS: Evidence from Japanese Firms' Experience," IMES Discussion Paper Series 19-E-20, Institute for Monetary and Economic Studies, Bank of Japan.
- Frank Heflin & Kalin S. Kolev & Benjamin Whipple, 2024. "The risk-relevance of non-GAAP earnings," Review of Accounting Studies, Springer, vol. 29(1), pages 493-524, March.
- Douglas J. Skinner & Eugene Soltes, 2011. "What do dividends tell us about earnings quality?," Review of Accounting Studies, Springer, vol. 16(1), pages 1-28, March.
- Yuta Shibasaki & Chikara Toyokura, 2020. "The Disclosure of Non-GAAP Performance Measures and the Adoption of IFRS: Evidence from Japanese Firms' Experience," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 38, pages 19-54, November.
- Lu, Hsueh-Tien, 2018. "Voluntary disclosure and the pricing of earnings components," Journal of Behavioral and Experimental Finance, Elsevier, vol. 20(C), pages 64-73.
- Joshua Livnat & Richard R. Mendenhall, 2006. "Comparing the Post–Earnings Announcement Drift for Surprises Calculated from Analyst and Time Series Forecasts," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 44(1), pages 177-205, March.
- Lord, Richard A. & Saito, Yoshie, 2017. "Refocusing through discontinued operations in response to acquisitions and diversification," Advances in accounting, Elsevier, vol. 37(C), pages 71-84.
- Carol Anilowski Cain & Kalin S. Kolev & Sarah McVay, 2020. "Detecting Opportunistic Special Items," Management Science, INFORMS, vol. 66(5), pages 2099-2119, May.
- repec:kap:iaecre:v:16:y:2010:i:3:p:269-281 is not listed on IDEAS
- Jeffrey T. Doyle & Russell J. Lundholm & Mark T. Soliman, 2003. "The Predictive Value of Expenses Excluded from Pro Forma Earnings," Review of Accounting Studies, Springer, vol. 8(2), pages 145-174, June.
- Ganapathi Narayanamoorthy, 2006. "Conservatism and Cross‐Sectional Variation in the Post–Earnings Announcement Drift," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 44(4), pages 763-789, September.
- Jacob K. Thomas, 2003. "Discussion of “Post-Earnings Announcement Drift and Market Participants' Information Processing Biases”," Review of Accounting Studies, Springer, vol. 8(2), pages 347-353, June.
- Jegadeesh, Narasimhan & Livnat, Joshua, 2006. "Revenue surprises and stock returns," Journal of Accounting and Economics, Elsevier, vol. 41(1-2), pages 147-171, April.
- Richard Frankel, 2009. "Discussion of "Are special items informative about future profit margins?"," Review of Accounting Studies, Springer, vol. 14(2), pages 237-245, September.
- Edward J. Riedl & Estelle Y. Sun & Guannan Wang, 2021. "Sentiment, Loss Firms, and Investor Expectations of Future Earnings," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 518-544, March.
- Andreas Charitou & Neophytos Lambertides & Giorgos Theodoulou, 2010. "The Effect of Past Earnings and Dividend Patterns on the Information Content of Dividends When Earnings Are Reduced," Abacus, Accounting Foundation, University of Sydney, vol. 46(2), pages 153-187, June.
- Greg Clinch & Ann Tarca & Marvin Wee, 2023. "Cross‐country diversity and non‐IFRS financial performance measures," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2473-2502, June.
- Heflin, Frank & Hsu, Charles, 2008. "The impact of the SEC's regulation of non-GAAP disclosures," Journal of Accounting and Economics, Elsevier, vol. 46(2-3), pages 349-365, December.
- Gu, Zhaoyang & Chen, Ting, 2004. "Analysts' treatment of nonrecurring items in street earnings," Journal of Accounting and Economics, Elsevier, vol. 38(1), pages 129-170, December.
- Gongmeng Chen & Michael Firth & Daniel Ning Gao, 2011. "The Information Content of Earnings Components: Evidence from the Chinese Stock Market," European Accounting Review, Taylor & Francis Journals, vol. 20(4), pages 669-692, May.
- Jeffery S. Abarbanell & Reuven Lehavy, 2007. "Letting the “Tail Wag the Dog†: The Debate over GAAP versus Street Earnings Revisited," Contemporary Accounting Research, John Wiley & Sons, vol. 24(3), pages 675-723, September.
- John L. Abernathy & Brooke Beyer & Eric T. Rapley, 2014. "Earnings Management Constraints and Classification Shifting," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(5-6), pages 600-626, June.
- Jaewoo Kim & Bryce Schonberger & Charles Wasley & Hunter Land, 2020. "Intertemporal variation in the information content of aggregate earnings and its effect on the aggregate earnings-return relation," Review of Accounting Studies, Springer, vol. 25(4), pages 1410-1443, December.
- Ravi Dharwadkar & David Harris & Linna Shi & Nan Zhou, 2020. "The initiation of audit committee interlocks and the contagion of accounting policy choices: evidence from special items," Review of Accounting Studies, Springer, vol. 25(1), pages 120-158, March.
- Venter, Elmar R. & Cahan, Steven F. & Emanuel, David, 2013. "Mandatory Earnings Disaggregation and the Persistence and Pricing of Earnings Components," The International Journal of Accounting, Elsevier, vol. 48(1), pages 26-53.
- Dain C. Donelson & Colin Q. Koutney & Lillian F. Mills, 2024. "Nonrecurring income taxes," Review of Accounting Studies, Springer, vol. 29(2), pages 1741-1793, June.
- Nicholas Apergis & John Sorros, 2010. "Disaggregated Earnings and Stock Prices: Evidence from International Listed Shipping Firms," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 16(3), pages 269-281, August.
- Thomas J. Lopez & Craig A. Sisneros & Trevor Sorensen, 2020. "The market pricing of negative special items through time: an unintended consequence of regulation change?," Review of Quantitative Finance and Accounting, Springer, vol. 54(2), pages 753-777, February.
- Joos, Peter & Plesko, George, 2004. "Valuing Loss Firms," Working papers 562043, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Yun Fan & Wayne B. Thomas & Xiaoou Yu, 2019. "The Impact of Financial Covenants in Private Loan Contracts on Classification Shifting," Management Science, INFORMS, vol. 65(8), pages 3637-3653, August.
- Mark T. Bradshaw, 2011. "A discussion of “Do managers use earnings guidance to influence street earnings exclusions?”," Review of Accounting Studies, Springer, vol. 16(3), pages 528-538, September.
- Mei Luo & Shuai Shao & Frank Zhang, 2018. "Does financial reporting above or below operating income matter to firms and investors? The case of investment income in China," Review of Accounting Studies, Springer, vol. 23(4), pages 1754-1790, December.
- Patricia M. Dechow & Weili Ge, 2006. "The persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly," Review of Accounting Studies, Springer, vol. 11(2), pages 253-296, September.
- Pingui Rao & Heng Yue & Xin Zhou, 2018. "Return predictability and the real option value of segments," Review of Accounting Studies, Springer, vol. 23(1), pages 167-199, March.
- Hai Wu, 2017. "Probability of loss reversal in Australia," Australian Journal of Management, Australian School of Business, vol. 42(4), pages 560-582, November.
- Brooke Beyer & Binod Guragai & Eric T. Rapley, 2021. "Discontinued operations and analyst forecast accuracy," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 595-627, August.
- Patricia M. Fairfield & Karen A. Kitching & Vicki Wei Tang, 2009. "Are special items informative about future profit margins?," Review of Accounting Studies, Springer, vol. 14(2), pages 204-236, September.
- Nagar, Neerav & Sen, Kaustav, 2016. "Earnings Management Strategies during Financial Distress," IIMA Working Papers WP2016-02-03, Indian Institute of Management Ahmedabad, Research and Publication Department.
- Joos, Peter R. & Plesko, George A., 2003. "Reporting Conservatism, Loss Reversals, and Earnings-based Valuation," Working papers 4262-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- William M. Cready & Thomas J. Lopez & Craig A. Sisneros & Shane R. Stinson, 2023. "Empirical implications of incorrect special item tax rate assumptions," Review of Accounting Studies, Springer, vol. 28(2), pages 958-1002, June.
- Kevin Ke Li, 2011. "How well do investors understand loss persistence?," Review of Accounting Studies, Springer, vol. 16(3), pages 630-667, September.
- Frank Heflin & Charles Hsu & Qinglu Jin, 2015. "Accounting conservatism and Street earnings," Review of Accounting Studies, Springer, vol. 20(2), pages 674-709, June.
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