Knowledge that Transforms

Mary E. Barth, Maureen F. McNichols, Estimation and Market Valuation of Environmental Liabilities Relating to Superfund Sites, Journal of Accounting Research, Vol. 32, Studies on Accounting, Financial Disclosures, and the Law (1994), pp. 177-209

Pieter T. Elgers, May H. Lo, Reductions in Analysts' Annual Earnings Forecast Errors Using Information in Prior Earnings and Security Returns, Journal of Accounting Research, Vol. 32, No. 2 (Autumn, 1994), pp. 290-303

Analyst forecasts, Forecasting, Forecast horizons, Forecast consistency

Joseph V. Carcello, Zoe-Vonna Palmrose, Auditor Litigation and Modified Reporting on Bankrupt Clients, Journal of Accounting Research, Vol. 32, Studies on Accounting, Financial Disclosures, and the Law (1994), pp. 1-30

Auditing, Damage-Sharing liability, Auditor liability, Price protection

An Empirical Exploration of Complex Accountability in Public Accounting

Auditing, Auditor litigation, Audit failures, Lawsuits

Information content, Cash flows, Working capital, Nonlinear P/E relation

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

Nahum D. Melumad, Toshiyuki Shibano, The Securities and Exchange Commission and the Financial Accounting Standards Board: Regulation Through Veto-Based Delegation, Journal of Accounting Research, Vol. 32, No. 1 (Spring, 1994), pp. 1-37