This review systematically investigates the body of scientific knowledge on value relevance
in accounting and reporting fields through a mixed method integrating bibliometric and …

ABSTRACT A contrast effect occurs when the value of a previously observed signal
inversely biases perception of the next signal. We present the first evidence that contrast …

This paper uses option prices to learn about the equity price uncertainty surrounding
information released on earnings announcement dates. To do this, we introduce reduced …

Research offers insights that, if heeded and built upon, could improve financial reporting,
thereby contributing to a more prosperous society. In particular, research suggests …

We review the literature on recurring firm events and predictable returns. Many common firm
events recur on a predictable basis, such as earnings and dividends, among others. These …

We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on
capital market research in accounting. We trace the evolution of various research paths that …

We examine whether there is intra-industry information transfer with respect to the second
moment of returns around earnings announcements. Using implied volatility from option …

We show that the cost of trading on negative news, relative to positive news, increases
before earnings announcements. Our evidence suggests that this asymmetry is due to …

Prior research suggests that (1) politically active firms have an information advantage over
firms that do not engage in the political process but also that (2) politically active firms are …

We develop a novel methodology for studying the causal impact of announcement timing.
Our methodology uses firms' earnings announcements and leverages quasi-exogenous …