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Incentives associated with changes in consolidated reporting requirements
Accounting information and corporate governance
Differential intra-industry information transfer associated with management earnings forecasts
Theories of earnings-announcement timing
Options markets and the information content of accounting earnings releases
The association between revisions of financial analysts' earnings forecasts and security-price changes
Evidence that stock prices do not fully reflect the implications of current earnings for future earnings
Efficient contracting and the choice of accounting method in the oil and gas industry
This paper's results are consistent with the choice of accounting method in the oil and gas industry being dominated by measurable characteristics of firms and guided by the principles of efficient contracting. The results are inconsistent with an alternative hypothesis, opportunistic behavior by managers. The efficient contracting explanation is also consistent with the empirical findings from earlier studies; [e.g., Lilien and Pastena (1982) and Deakin 1979)].
Incentives for unconsolidated financial reporting
We provide a positive analysis of a firm's decision to report the operations of a financial subsidiary on a consolidated versus an unconsolidated basis. Our evidence indicates that the firm is more likely to choose consolidated reporting the greater the operating, financial, and informational interdependencies between parent and subsidiary. Moreover, our evidence offers no support for the FASB hypothesis that firms use unconsolidated financial subsidíaries to understate the fixed claims on their balance sheets.