Recent research results indicate a market premium for firms that met or beat analysts' forecasts. We find evidence consistent with these results. More important, however, we find a market premium for firms that met or beat time-series forecasts, and also the highest market premium for firms that...

This paper provides results of an experiment designed to investigate how mandatory rotation or retention of auditors may affect auditor reporting. Repeat audit engagements are believed to be a source of economic rents to auditors, and as such they are believed to pose a threat to auditor...

The purpose of this study is to demonstrate how cross- sectional observations of expenditures by school districts within a particular state's jurisdiction may be used to estimate efficiency standards for public school expenditures. The standards are estimated using frontier regression techniques...

The cross-sectional approach that is typically used to estimate accrual models implicitly assumes that firms within the same industry have a homogeneous accrual generating process. In this paper, we examine this implicit assumption along three dimensions. First, we argue that the relation...