We investigate firms that stop providing earnings guidance (stoppers) either by publicly announcing their decision (announcers) or doing so quietly (quiet stoppers). Relative to firms that continue guiding, stoppers have poorer prior performance, more uncertain operating environments, and fewer...

We investigate a sample of 96 firms that publicly renounced quarterly EPS guidance in the post-FD period (10/2000 to 1/2006). We find that stoppers have poor trailing stock return performance and lower institutional ownership. We document an average -4.8% three-day return around the announcement...

We examine whether financial analysts cater to investors’ beliefs, using the market liberalization (Stock Connect) programs in China as a shock to investor beliefs. We find that analysts become less optimistic in their recommendations following the introduction of less optimistic investors...

We examine (i) whether the business practices of Berkshire Hathaway investees are consistent with Warren Buffett's public statements on what constitutes good accounting, governance and investing practices and (ii) whether these practices are associated with Berkshire's initial “selection” or...

We examine (i) whether the business practices of Berkshire Hathaway investees are consistent with Warren Buffett's public statements on what constitutes good accounting, governance and investing practices and (ii) whether these practices are associated with Berkshire's initial “selection” or...