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 …

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 …

Audit quality and properties of analysts' information environment

W He, B Sidhu, S Taylor - Journal of Business Finance & …, 2019 - Wiley Online Library
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 …

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 …

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 …

[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 …

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 …

The impact of earnings announcements on a firm's information environment

MT Bradshaw, M Plumlee, BC Whipple… - Available at SSRN …, 2018 - papers.ssrn.com
We examine how earnings announcements change a firm's information environment,
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 …

Bank loan covenants, accrual quality and firms' information environment

CJ Chen, W He, CJ Lu, X Yu - Accounting & Finance, 2022 - Wiley Online Library
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 …