Prior research has shown that the accounting information available in the year just prior to filing bankruptcy is associated with the likelihood of filing for Chapter 11 protection. This information, however, is more predictive of bankruptcy for stressed firms than for non-stressed firms. We...

Ohlson (1995) models firm value as a function of abnormal earnings, net book value and other unspecified information. Ohlson (2001) proposes consensus analyst forecasts as a proxy for the previously unspecified other information in his model, which we test using a two stage approach. The first...

This study investigates the influence of analyst forecast dispersion on Ohlson's (2001) proposed linear information dynamics where consensus analyst forecasts are suggested as a proxy for other information. Our results indicate that Ohlson's proposed valuation model is most descriptive of market...

This paper considers estimation of parameters of diffusion terms from CIR models for estimation of stock prices. Feasibility of some known methods are tested for Monte-Carlo simulated data and for the historical prices, including individual stocks and stock indexes

This paper investigates the impact of Sarbanes-Oxley (SOX) on managers' earnings management choices (i.e., accrual management and real earnings management). Specifically, I investigate whether firms reduce their use of accrual management and increase their use of real earnings management...

Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangibles (FASB 2001) altered the treatment of goodwill by replacing the systematic amortization of goodwill with impairment testing. This change affected earnings in two ways by requiring many firms to take sizable...