Purpose – The purpose of this paper is to investigate the connection between the accrual quality and the growth/value characteristics (and their return premia) at firm level. Design/methodology/approach – The paper employs a battery of univariate and multivariate cross‐sectional tests....

This paper examines the influence of reporting location on the value relevance of other comprehensive income (OCI). Accounting Standards Update (ASU) 2011-05 “Presentation of Comprehensive Income” requires firms to report OCI in a performance statement (i.e., either below net income in a...

Ohlson (1995) models firm value as a function of book value, earnings, and analysts' earnings forecasts which capture “other” information not yet reflected in the financial statements. Within this framework, stock returns reflect information from earnings and forecasts, each of which is...

More transparent disclosure reduces the effort required to process reported information. The adoption of Statement of Financial Accounting Standards (SFAS) No. 131, Disclosures about Segments of an Enterprise and Related Information, increased the transparency of segment information reported by...

We examine the role of reported accounting information (e.g., earnings and book values) relative to analysts' earnings forecasts to determine what information is most relevant for explaining market value conditional on a firm's life cycle stage. Using the life cycle measure developed in...