Researchers have used various measures as indications of “earnings quality” including
persistence, accruals, smoothness, timeliness, loss avoidance, investor responsiveness …

The work of Ohlson (1995) and Feltham and Ohlson (1995) had a profound impact on
accounting research in the 1990s. In this paper, we first discuss this valuation framework …

We investigate whether large language models (LLMs) can successfully perform financial
statement analysis in a way similar to a professional human analyst. We provide …

I review empirical research on the relation between capital markets and financial statements.
The principal sources of demand for capital markets research in accounting are fundamental …

This paper examines whether institutional investors exhibit preferences for near‐term
earnings over long‐run value and whether such preferences have implications for firms' …

When a firm practices conservative accounting, changes in the amount of its investments
can affect the quality of its earnings. Growth in investment reduces reported earnings and …

This study examines the usefulness of an analyst-based valuation model in predicting cross-
sectional stock returns. We estimate firms' fundamental values (V) using I/B/E/S consensus …

Building on the Dechow et al.(1998) model of the accrual process, this study investigates the
role of accruals in predicting future cash flows. The model shows that each accrual …

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations
and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008 …

Financial statement analysis has traditionally been seen as part of thefundamental analysis
required for equity valuation. But the analysis has typicallybeen ad hoc. Drawing on recent …