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On the Value Relevance of Asymmetric Financial Reporting Policies

On the Value Relevance of Asymmetric Financial Reporting Policies ABSTRACT This paper considers an overlapping generations model where investors trade in a firm's stock. Investment risk is partly determined by the volatility of the stock price at which current investors can sell their shares to the next generation of investors. It is shown that asymmetric reporting of good and bad news is value relevant as it affects the allocation of risk among future generations of shareholders. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Accounting Research Wiley

On the Value Relevance of Asymmetric Financial Reporting Policies

Journal of Accounting Research , Volume 46 (5) – Dec 1, 2008

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References (35)

Publisher
Wiley
Copyright
©, University of Chicago on behalf of the Institute of Professional Accounting, 2008
ISSN
0021-8456
eISSN
1475-679X
DOI
10.1111/j.1475-679X.2008.00309.x
Publisher site
See Article on Publisher Site

Abstract

ABSTRACT This paper considers an overlapping generations model where investors trade in a firm's stock. Investment risk is partly determined by the volatility of the stock price at which current investors can sell their shares to the next generation of investors. It is shown that asymmetric reporting of good and bad news is value relevant as it affects the allocation of risk among future generations of shareholders.

Journal

Journal of Accounting ResearchWiley

Published: Dec 1, 2008

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