Goodwill impairment, securities analysts, and information transparency
H Han, JJ Tang, Q Tang - European Accounting Review, 2021 - Taylor & Francis
The transition from amortization to the impairment-only approach in IFRS 3 and CAS 8
(China's accounting standards) increased managerial discretion when estimating goodwill …
(China's accounting standards) increased managerial discretion when estimating goodwill …
US political corruption and quarterly conference calls
L Chourou, AT Hossain, A Jha - Journal of Banking & Finance, 2024 - Elsevier
We find that managers obfuscate during conference calls when their firm's headquarters is in
a politically corrupt state, and they do so to shield assets from corrupt officials. The positive …
a politically corrupt state, and they do so to shield assets from corrupt officials. The positive …
Audit quality and properties of analysts' information environment
We consider how audit quality impacts sell‐side analysts' information environment. Using
the method outlined by Barron et al., we examine whether higher audit quality is associated …
the method outlined by Barron et al., we examine whether higher audit quality is associated …
Does individual investors' online search activities reduce information asymmetry? Evidence from stock exchanges' comment letters in China
W Hu, X Fu - Asia-Pacific Journal of Accounting & Economics, 2022 - Taylor & Francis
Commonly treated as 'dumb noise traders', individual investors are widely known as the
group who are unaware, unsophisticated, and have low financial literacy. Their trading …
group who are unaware, unsophisticated, and have low financial literacy. Their trading …
Mergers and acquisitions comment letters and analysts' earnings forecasts: Evidence from China
L Wan, C Li, R Xu, H Zhang - Pacific-Basin Finance Journal, 2024 - Elsevier
In this study we examine the effect of the mergers and acquisitions (M&A) comment letters
on the analysts' earnings forecasts in China. Using the M&A data of listed companies …
on the analysts' earnings forecasts in China. Using the M&A data of listed companies …
[HTML][HTML] Textual disclosure complexity and analysts' weighting of information
X Yu, L Zhao - Journal of Contemporary Accounting & Economics, 2024 - Elsevier
This study investigates the influence of textual complexity in firms' annual reports (Form 10-
K) on financial analysts' weighting of information. Drawing on a sample of US-listed …
K) on financial analysts' weighting of information. Drawing on a sample of US-listed …
Public news announcements, short-sale restriction and informational efficiency
SK Choy, H Zhang - Review of Quantitative Finance and Accounting, 2019 - Springer
In this paper, we address the question that with differences in opinion in reality, how quickly
stocks incorporate news shocks when they are subject to different levels of short-sale …
stocks incorporate news shocks when they are subject to different levels of short-sale …
The impact of earnings announcements on a firm's information environment
We examine how earnings announcements change a firm's information environment,
captured by the relative level of private and common information in analysts' expectations …
captured by the relative level of private and common information in analysts' expectations …
The Value of Information from Sell-side Analysts
L Lv - arXiv preprint arXiv:2411.13813, 2024 - arxiv.org
I examine the value of information from sell-side analysts by analyzing a large corpus of their
written reports. Using embeddings from state-of-the-art large language models, I show that …
written reports. Using embeddings from state-of-the-art large language models, I show that …
Bank loan covenants, accrual quality and firms' information environment
We examine whether initiations of bank loans with financial covenants motivate banks to
monitor borrowers' accounting practice and result in a higher quality of reported accruals …
monitor borrowers' accounting practice and result in a higher quality of reported accruals …