This book is an invitation to study managerial uses of accounting information and how accounting information is used in the management of an organization. Three themes run throughout the book. First, the accounting system is thought of as a library of financial statistics. Answers to a variety...

This study examines the information content of quarterly earnings announcements, measured as the magnitude of stock price revision at earnings announcements relative to price revision at other times. We investigate whether quarterly earnings announcements are informative using a nonparametric...

We examine the role of concurrent information in the striking increase in investor response to earnings announcements from 2001 to 2016, as measured by return variability and volume following Beaver (1968). We find management guidance, analyst forecasts, and disaggregated financial statement...