Meet-or-beat streak heterogeneity and equity prices
Tài liệu tham khảo
Barberis, 1998, A model of investor sentiment, Journal of Financial Economics, 49, 307, 10.1016/S0304-405X(98)00027-0
Barniv, 2009, Do analysts practice what they preach and should investors listen? Effects of recent regulations, The Accounting Review, 84, 1015, 10.2308/accr.2009.84.4.1015
Barth, 1999, Market rewards associated with patterns of increasing earnings, Journal of Accounting Research, 37, 387, 10.2307/2491414
Bartov, 2002, The rewards to meeting or beating earnings expectations, Journal of Accounting and Economics, 33, 173, 10.1016/S0165-4101(02)00045-9
Beaver, 2020, Increased market response to earnings announcements in the 21st century: An empirical investigation, Journal of Accounting and Economics, 69, 10.1016/j.jacceco.2019.101244
Bhojraj, 2009, Making sense of cents: An examination of firms that marginally miss or beat analyst forecasts, Journal of Finance, 64, 2361, 10.1111/j.1540-6261.2009.01503.x
Burgstahler, 1997, Earnings management to avoid earnings decreases and losses, Journal of Accounting and Economics, 24, 99, 10.1016/S0165-4101(97)00017-7
Bushee, 1988, The influence of institutional investors on myopic R&D investment behavior, The Accounting Review, 73, 305
Cameron, 2015, A practitioner’s guide to cluster-robust inference, Journal of Human Resources, 50, 317, 10.3368/jhr.50.2.317
Chan, 2003, The level and persistence of growth rates, Journal of Finance, 58, 643, 10.1111/1540-6261.00540
Chin, 2018, Does meeting analysts’ forecasts matter in the private loan market?, Journal of Empirical Finance, 48, 321, 10.1016/j.jempfin.2018.07.005
Dechow, 2004
Degeorge, 1999, Earnings management to exceed thresholds, Journal of Business, 72, 1, 10.1086/209601
Easton, 2004, PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital, The Accounting Review, 79, 73, 10.2308/accr.2004.79.1.73
Edmans, 2011, Does the stock market fully value intangibles? Employee satisfaction and equity prices, Journal of Financial Economics, 101, 621, 10.1016/j.jfineco.2011.03.021
Ertimur, 2003, Differential market reactions to revenue and expense surprises, Review of Accounting Studies, 8, 185, 10.1023/A:1024409311267
Fischer, P., Jennings, J., & Soliman, M. (2014). Meeting, Beating, Streaks and Bubbles. Working Paper, available at SSRN: 〈https://ssrn.com/abstract=2451249〉.
Frankel, 1998, Accounting valuation, market expectation, and cross-sectional stock returns, Journal of Accounting and Economics, 25, 283, 10.1016/S0165-4101(98)00026-3
Graham, 2005, The economic implications of corporate financial reporting, Journal of Accounting and Economics, 40, 3, 10.1016/j.jacceco.2005.01.002
Hayn, 1995, The information content of losses, Journal of Accounting and Economics, 20, 125, 10.1016/0165-4101(95)00397-2
He, 2019, Inconsistent signals, earnings announcements, and market uncertainty, Abacus, 55, 411, 10.1111/abac.12156
Hong, 2009, The price of sin: The effect of social norms on markets, Journal of Financial Economics, 93, 15, 10.1016/j.jfineco.2008.09.001
Jegadeesh, 2006, Revenue surprises and stock returns, Journal of Accounting and Economics, 41, 147, 10.1016/j.jacceco.2005.10.003
Jiang, 2008, Beating earnings benchmarks and the cost of debt, The Accounting Review, 83, 377, 10.2308/accr.2008.83.2.377
Kasznik, 2002, Does meeting earnings expectations matter? Evidence from analyst forecast revisions and share prices, Journal of Accounting Research, 40, 727, 10.1111/1475-679X.00069
Lawrence, 2017, Why are losses less persistent than profits? Curtailments vs. conservatism, Management Science, 64, 652
Myers, 2007, Earnings momentum and earnings management, Journal of Accounting, Auditing, and Finance, 22, 249, 10.1177/0148558X0702200211
Neururer, 2016, Tests of investor learning models using earnings innovations and implied volatilities, Review of Accounting Studies, 21, 400, 10.1007/s11142-015-9348-5
Neururer, 2020, The effect of reporting streaks on ex ante uncertainty, Management Science, 66, 3295, 10.1287/mnsc.2019.3320
Ohlson, 1995, Earnings, book values, and dividends in equity valuation, Contemporary Accounting Research, 11, 661, 10.1111/j.1911-3846.1995.tb00461.x
Pastor, 2003, Stock valuation and learning about profitability, Journal of Finance, 58, 1749, 10.1111/1540-6261.00587
Rees, 2007, The effect of meeting or beating revenue forecasts on the association between quarterly returns and earnings forecast errors, Contemporary Accounting Research, 24, 259, 10.1506/G767-1674-5686-5375
Rhodes-Kropf, 2005, Valuation waves and merger activity: The empirical evidence, Journal of Finance Economics, 77, 561, 10.1016/j.jfineco.2004.06.015
Roychowdhury, 2006, Earnings management through real activities manipulation, Journal of Accounting and Economics, 42, 335, 10.1016/j.jacceco.2006.01.002
Roychowdhury, 2019, The effects of financial reporting and disclosure on corporate investment: A review, Journal of Accounting and Economics, 68, 10.1016/j.jacceco.2019.101246
Thorp, 2019, Revisiting the Driehaus momentum approach, American Association of Individual Investors Journal, 41, 7
Xie, 2011, The market effects of breaking a string of meeting or beating analysts' expectations: Downward revisions of future cash flows or increase in cost of equity capital?, Journal of Business, Finance and Accounting, 38, 95, 10.1111/j.1468-5957.2010.02225.x
Zhang, 2018, Earnings management strategies to maintain a string of meeting or beating analyst expectations, Advances in Accounting, 43, 46, 10.1016/j.adiac.2018.09.001