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Dargenidou, C.; McLeay, S.; Raonic, I. (2011)
Publisher: Wiley
Languages: English
Types: Article
Subjects: HG

Classified by OpenAIRE into

mesheuropmc: health care economics and organizations, digestive, oral, and skin physiology
The present study examines the role of disclosure in assisting market participants to form expectations of future earnings from the accrual content of reported earnings. Using the Transparency and Disclosure ratings prepared by Standard and Poor’s, we show how disclosure and accruals jointly affect the earnings expectations that are incorporated in current stock returns, depending not only on the magnitude, but also on their duration, i.e.whether they affect current or non-current operations,and their sign, i.e. whether they increase net operating assets(a positive net accrual) or decrease net operating assets(a negative net accrual).
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    • Amromin G., P. Harrison and S. Sharpe (2008), 'How Did the 2003 Dividend Tax Cut Affect Stock Prices?', Financial Management, Vol. 37 (4), pp. 625-646.
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    • Complexity', Journal of Business Finance and Accounting, Vol. 31 (1-2), pp. 115- 148.
    • Richardson, S., R. Sloan, T.M. Soliman and I. Tuna (2005), 'Accrual Reliability, Earnings Persistence and Stock Prices' Journal of Accounting and Economics, Vol. 39, pp. 437-485.
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    • Schleicher, T., K. Hussainey and M. Walker (2007), 'Loss Firms' Annual Report Narratives and Share Price Anticipation of Earnings', The British Accounting Review, Vol. 39, pp. 153-171.
    • Schleicher, T. and M. Walker (1999), 'Share Price Anticipation of Earnings and Management's Discussion of Operations and Financing', Accounting and Business Research, Vol. 29 (4), pp. 321-335.
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