The business press generally reports news in quarterly earnings announcements based on the difference between actual earnings and two salient benchmarks: earnings of the same quarter in the previous year, and a consensus drawn from a distribution of forecasts by financial analysts. We evaluate...

This study examines biases in stock prices and financial analysts' earnings forecasts. These biases take the form of systematic overweighting or underweighting of the persistence characteristics of cash versus accrual earnings components. Our evidence suggests that stock prices tend to...

This study investigates whether managers use asset securitization gains to substitute loan loss provision (LLP) management for earnings management, and, if so, whether the percentage of credit risk retained affects such a relationship. The literature provides evidence that managers have used...

This paper examines how intrinsic circadian rhythm variation in the human body contributes to predictable day and night changes in the characteristics of earnings forecasts made by financial analysts. We find evidence supporting a casual relation between analyst performance and the day and night...

This paper studies the influence of capital flow and trade credit to the production planning problems. That is, when a company starts to produce a certain number of products, its present capital quantity should be no less than the total production cost, but it could delay payment using trade...

Remanufacturing is a process of recovering used products to a like-new condition. It can potentially achieve considerable economic, environmental and social benefits in many applications. However, its economic benefit varies for different products and remanufacturing processes. This research...