It is widely agreed that corporate financial reports provide deficient information about intangible assets. However, investors are exposed to substantial information beyond financial reports, such as managers' direct communications to capital markets and analysts' reports. We ask: To what extent...

The study examines the value-relevance of reported financial information of fast-changing science-based companies and the incremental value-relevance of publicly available nonfinancial information. Based on a sample of independent cellular phone companies we find that on a stand-alone basis...

This paper proposes a valuation method that addresses the impact of deferred tax balances on a firm's economic profitability and relies on readily-accessible and easily- understood current accounting data, rather than imperfect estimates of future cash flows. This method values a firm's future...

This paper clarifies some of the conflicting arguments about the value relevance of deferred taxes. We address two questions. First, does accounting aggregation hold, or in other words, are deferred tax expense and liability balances valued the same as operating earnings and asset balances,...

We develop a theoretical framework that explains firms' reactions to new accounting standards, especially, those released by the FASB under its extended adoption policy. Our theory highlights the differences between recognized and disclosed accounting information, and provides a link between...

We provide evidence regarding the incremental value- relevance of deferred tax information provided under SFAS No. 109. We assess the likelihood of reversal for each component of the deferred tax disclosures required by SFAS No. 109, forming expectations about the direction and magnitude of...

The fixed-effects specification is often used in panel datasets as a way of dealing with correlated omitted variables. A review of recent accounting publications reveals that while researchers are generally aware of the need to include fixed-effects in empirical models when using panel datasets...

Prior literature shows government corruption mostly hurts poorer economies, whereas recent events, including the 2008 US economic crisis, suggest business corruption may harm growth in wealthier economies. Using multi-national surveys in which citizens communicated their perceptions of...