The DOI matches its Crossref record; 25 of the 25 references it cites were found in a registry or an index.
Has the Information Content of Quarterly Earnings Announcements Declined in the Past Three Decades?
Abstract
This paper examines changes in the information content of earnings over the past three decades using the two metrics from Beaver [1968]: abnormal trading volume and abnormal return volatility. We find no evidence of a decline in the information content of earnings announcements over the past three decades, as measured by both abnormal trading volume and return volatility around quarterly earnings announcements. If anything, our results suggest an increase over time in the informativeness of quarterly earnings announcements. Variables reflecting changes in firm‐specific factors account for a portion of the observed increase.
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Citations
Cites
A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
White, H. (1980) · Econometrica · doi:10.2307/1912934 · Cited by 25,861
The Information Content of Annual Earnings Announcements
Beaver, W. H. (1968) · Journal of Accounting Research · doi:10.2307/2490070 · Cited by 2,738
The information content of losses
Hayn, C. (1995) · Journal of Accounting and Economics · doi:10.1016/0165-4101(95)00397-2 · Cited by 2,313
Barth, M. E., Beaver, W. H., & Landsman, W. R. (2001) · Journal of Accounting and Economics · doi:10.1016/s0165-4101(01)00019-2 · Cited by 1,953
Self-citationHave Financial Statements Lost Their Relevance?
Francis, J., & Schipper, K. (1999) · Journal of Accounting Research · doi:10.2307/2491412 · Cited by 1,916
The Boundaries of Financial Reporting and How to Extend Them
Lev, B., & Zarowin, P. (1999) · Journal of Accounting Research · doi:10.2307/2491413 · Cited by 1,882
Changes in the value-relevance of earnings and book values over the past forty years
Collins, D. W., Maydew, E. L., & Weiss, I. S. (1997) · Journal of Accounting and Economics · doi:10.1016/s0165-4101(97)00015-3 · Cited by 1,785
Self-citationMarket liquidity and volume around earnings announcements
Kim, O., & Verrecchia, R. E. (1994) · Journal of Accounting and Economics · doi:10.1016/0165-4101(94)90004-3 · Cited by 1,779
An analysis of intertemporal and cross-sectional determinants of earnings response coefficients
Collins, D. W., & Kothari, S. P. (1989) · Journal of Accounting and Economics · doi:10.1016/0165-4101(89)90004-9 · Cited by 1,685
Skinner, D. J., & Sloan, R. G. (2002) · Review of Accounting Studies · doi:10.1023/a:1020294523516 · Cited by 1,471
Cited by
The financial reporting environment: Review of the recent literature
Beyer, A., Cohen, D. A., Lys, T. Z., & Walther, B. R. (2010) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2010.10.003 · Cited by 2,609
The information content of annual earnings announcements and mandatory adoption of IFRS
Landsman, W. R., Maydew, E. L., & Thornock, J. R. (2012) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2011.04.002 · Cited by 681
Self-citationDeterminants of the informativeness of analyst research
Frankel, R., Kothari, S. P., & Weber, J. (2006) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2005.10.004 · Cited by 631
Regulation FD and the Financial Information Environment: Early Evidence
Heflin, F., Subramanyam, K. R., & Zhang, Y. (2003) · The Accounting Review · doi:10.2308/accr.2003.78.1.1 · Cited by 507
Got Information? Investor Response to Form 10-K and Form 10-Q EDGAR Filings
Griffin, P. A. (2003) · Review of Accounting Studies · doi:10.1023/a:1027351630866 · Cited by 283
Metadata
- Authors
- Landsman, W. R., & Maydew, E. L.
- Venue
- Journal of Accounting Research
- Publisher
- Wiley
- Published
- 2002-06
- Volume
- 40
- Issue
- 3
- Pages
- 797-808
- ISSN
- 0021-8456 (ISSN-L)
- 1475-679X
- OpenAlex
- W2018291687
- Cited by
- 443
- References
- 25
- FWCI
- 19.13
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Has the Information Content of Quarterly Earnings Announcements Declined in the Past Three Decades? https://app.cochat.ai/papers/10.1111/1475-679x.00071
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- Landsman, W. R., & Maydew, E. L. (2002). Has the Information Content of Quarterly Earnings Announcements Declined in the Past Three Decades? Journal of Accounting Research. https://doi.org/10.1111/1475-679x.00071
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
