The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Why Firms Voluntarily Disclose Bad News
Abstract
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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Citations
Cites
Good News and Bad News: Representation Theorems and Applications
Milgrom, P. R. (1981) · The Bell Journal of Economics · doi:10.2307/3003562 · Cited by 3,123
Cited by
Healy, P. M., & Palepu, K. G. (2001) · Journal of Accounting and Economics · doi:10.1016/s0165-4101(01)00018-0 · Cited by 8,097
Mandatory CSR and sustainability reporting: economic analysis and literature review
Christensen, H. B., Hail, L., & Leuz, C. (2021) · Review of Accounting Studies · doi:10.1007/s11142-021-09609-5 · Cited by 1,923
“…disclosures, especially when too optimistic, could expose firms to higher litigation risk (e.g., Johnson et al. 2001; Rogers et al. 2011), while the disclosure of bad news could reduce the likelihood and costs of litigation (e.g., Skinner 1994, 1997; Field et al. 2005; Donelson et al. 2012).”
BackgroundLEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
Determinants of market reactions to restatement announcements
Palmrose, Z.-V., Richardson, V. J., & Scholz, S. (2004) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2003.06.003 · Cited by 1,259
Kothari, S. P., Li, X., & Short, J. E. (2009) · The Accounting Review · doi:10.2308/accr.2009.84.5.1639 · Cited by 1,019
Metadata
- Authors
- Skinner, D. J.
- Venue
- Journal of Accounting Research
- Publisher
- JSTOR
- Published
- 1994
- Volume
- 32
- Issue
- 1
- Pages
- 38
- ISSN
- 0021-8456 (ISSN-L)
- OpenAlex
- W2094863662
- Cited by
- 2,427
- References
- 1
- FWCI
- 86.13
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
