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Statement of Financial Accounting Standards No. 158 significantly changes how firms report the financial position of their defined-benefit pension plans. Under this new standard, firms must report the funded status, equal to the net of the projected benefit obligation and the fair value of their...
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This study examines how the quality of corporate disclosures impacts the precision of information that financial analysts incorporate into their forecasts of upcoming annual earnings. Our empirical measures distinguish between the precision of individual analysts' common and idiosyncratic...
Persistent link: https://www.econbiz.de/10014075595
This study examines how the quality of corporate disclosures impacts the precision of information that financial analysts incorporate into their forecasts of annual earnings. Our empirical measures distinguish between individual analysts' common and idiosyncratic (uniquely private) information...
Persistent link: https://www.econbiz.de/10014108633
We rely on the theoretical prediction that financial misreporting peaks before economic busts to examine whether aggregate ex ante measures of the likelihood of financial misreporting improve the predictability of U.S. recessions. We consider six measures of misreporting and show that the...
Persistent link: https://www.econbiz.de/10013240408
Leone et al. (2006) conclude that CEO cash compensation is more sensitive to negative stock returns than to positive stock returns, due to Boards of Directors enforcing an ex post settling up on CEOs. Dechow (2006) conjectures that Leone et al.'s (2006) results might be due to the sign of stock...
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