type="main" <p>This study tests the validity of using the CAPM beta as a risk control in cross-sectional accounting and finance research. We recognize that high-risk stocks should experience either very good or very bad returns more frequently compared to low-risk stocks, that is, high-risk stocks...</p>

This study documents that analysts are more likely to issue revenue forecasts to complement earnings-per-share estimates (EPS) when the quality of firm financial reporting is low. This is because compared to EPS forecasts accuracy, revenue forecast accuracy is less adversely affected by poor...

Applying the framework of conditional event studies shows that equity issues reveal managers‟private information about stock mispricing, which investors only partially discount into stockprices at the seasoned equity offering (SEO) announcement date. Negative abnormal returnsoccur as prices...