Regulation Fair Disclosure (FD), imposed by the Securities and Exchange Commission in October 2000, was designed to prohibit disclosure of material private information to selected market participants. The informational advantage such select participants gain is unclear. If multiple...

Following Dechow (1994) we investigate the relative usefulness (and economic significance) of short-versus long-term accruals in improving cash flows as a measure of performance. First, we re-examine Dechow's premise that long-term accruals are expected to be less useful than short-term...

We investigate the ability of disclosed operating cash flow and indirect accruals components to explain annual returns for a sample of Australian firms. Consistent with claims made by accounting standard setters, we find evidence of significant explanatory power for disclosed operating cash flow...

This paper examines accounting and non-accounting based restrictive covenants in Australian private debt agreements. With respect to the former, our findings differ from previous research on public debt. We find more varied definitions of constraints and their specific tightness in private debt...

Case studies of the change from cash to accrual accounting for tobacco licence fees (TLF) by the three members of the Australian tobacco manufacturing oligopoly illustrate the endogeneity of accounting method choice and provide evidence of a quot;product marketquot; effect on that choice. Prior...