This paper discusses what I believe a researcher ought to keep in mind when he/she tries to find a research topic and assesses the probability of success. In this context I think of success as a paper that becomes known over time and, generally, extensively cited. My discussion will lay out some...

A recent paper by Ohlson and Juettner-Nauroth (2005) develops a model in which a firm's expected earnings and their growth determine its value. At least on its surface, the model appeals because it embeds the core principle used in investment practice and, further, generalizes the Constant...

<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...

<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>Recent literature has used analysts' earnings forecasts, which are known to be optimistic, to estimate implied expected rates of return, yielding upwardly biased estimates. We estimate that the bias, computed as the difference between the estimates of the implied expected rate of return...

The nature of the data we usually encounter in market-based accounting research is such that the results of the regressions of market capitalization on financial statement variables (referred to 'price-levels' regressions) are driven by a relatively small subset of the very largest firms in the...