For a sample of U.S. firm years from 1980 through 1996 we document a positive association between the excess value of diversification as defined by Berger and Ofek [1995] and security analyst ratings of voluntary disclosure as developed by the Association for Investment Management and Research....

<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We evaluate the manner in which sponsors of highly leveraged asset-backed commercial paper (ABCP) conduits responded to Financial Accounting Standards Board Interpretation No. 46 (FIN 46), "Consolidation of Variable Interest Entities an Interpretation of ARB No. 51", and its Canadian...

<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We document that: (1) the incidence of bond trade increases during the days surrounding earnings announcements, (2) there is a bond-price reaction to the announcement of earnings, and (3) there is a positive association between annual bond returns and both annual changes in earnings and...

Beatty and Weber examine an accounting choice that managers made upon adoption of Statement of Financial Accounting Standards 142: whether to record a goodwill asset impairment as a cumulative effect of an accounting change at the time of adoption or delay the recognition of such an impairment...