Journal of Accounting Research · 1994 · 2.6K citations · 22 references
BusinessAccountancyAccountingCorporate DisclosureCorporate FinanceCorporate ReportingDisclosureEarnings AnnouncementsEarnings Per ShareEarnings ReportingFinancial ReportingFinancial StatementsCommercial DisclosuresCorporate Disclosure QualityCorporate Earnings AnnouncementsCorporate News ReleaseEarnings Per Share PresentationEarnings Per Share QualityEarnings Per Share ReportingQuarterly Earnings Reporting
This paper provides evidence on corporate voluntary disclosure practices through an examination of the earnings-related disclosures made by a random sample of 93 NASDAQ firms during 1981-90.' I find that, consistent with prior studies, earnings-related voluntary disclosures occur infrequently (on average, one disclosure for every ten quarterly earnings announcements); good news disclosures tend to be point or range estimates of annual earnings-per-share (EPS), while bad news disclosures tend to be qualitative statements about the current quarter's earnings; the (unconditional) stock price response to bad
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Ronald A. Dye · Journal of Accounting Research · 1985 · 2K citations