Post–earnings announcement drift is the tendency for a stock's cumulative abnormal returns
to drift in the direction of an earnings surprise for several weeks following an earnings …

This study explores whether the management discussion and analysis (MD&A) section of
Forms 10-Q and 10-K has incremental information content beyond financial measures such as …

Two major diversification strategies of firms are examined: diversification into related
businesses and diversification into unrelated businesses. The first strategy attempts to exploit …

This study examines whether components of operating, financing, and investing cash flows
are differentially associated with annual security returns, as predicted by theoretical models …

This paper examines the relation between revenue surprises and contemporaneous and
future stock returns. It also investigates whether analysts update their earnings forecasts in …

This study investigates investors' reactions to revenue and expense surprises around
preliminary earnings announcements. Results show that investors value more highly a dollar of …

The article presents information on a study which investigated the risk-return trade-off at the
level of individual firms with both accounting and market-based measures of risk. The author …

The Securities and Exchange Commission (SEC) has mandated new disclosure requirements
in Form 8-K, which became effective on August 23, 2004. The SEC expanded the list of …

This study evaluates the impact of earnings on credit risk in the Credit Default Swap (CDS)
market using levels, changes, and event study analyses. We find that earnings (cash flows, …

This study utilizes firm-specific time-series data to estimate the economic value of the research
and development (R&D) expenditures that investors consider an asset to the firm. The …