We examine the impact of Regulation Fair Disclosure (RFD) on transient institutional investors' abnormal trading behavior around accounting Restatements before and after RFD. We find that while before RFD, transient institutional investors exhibit abnormal selling of stocks in restating firms...

Fairfield and Yohn (2001) show that disaggregating change in return on assets into change in asset turnover and change in profit margin helps in predicting future profitability. For oil and gas firms, we disaggregate return on assets in the same manner and also use data envelopment analysis...