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Robert Bushman, Raffi Indjejikian (1993)
Accounting income, stock price, and managerial compensationJournal of Accounting and Economics, 16
Russell Lundholm (1991)
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Rick Antle, Joel Demski, Stephen Ryan (1994)
Multiple Sources of Information, Valuation, and Accounting EarningsJournal of Accounting, Auditing & Finance, 9
Dhaliwal Dhaliwal, Reynolds Reynolds (1994)
The Effect of Default Risk on Debt and the Earnings Response CoefficientAccounting Review, 69
Oliver Kim, Yoon Suh (1993)
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Russell Lundholm (1988)
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Carla Hayn (1995)
The information content of lossesJournal of Accounting and Economics, 20
Lundholm Lundholm (1991)
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Oliver Kim, Robert Verrecchia (1994)
Market liquidity and volume around earnings announcementsJournal of Accounting and Economics, 17
Robert Holthausen, Robert Verrecchia (1988)
THE EFFECT OF SEQUENTIAL INFORMATION RELEASES ON THE VARIANCE OF PRICE CHANGES IN AN INTERTEMPORAL MULTI-ASSET MARKETJournal of Accounting Research, 26
Joel Demski, Gerald Feltham (1994)
Market response to financial reportsJournal of Accounting and Economics, 17
Freeman Freeman, Tse Tse (1992)
A Nonlinear Model of Security Price Response to Accounting EarningsJournal of Accounting Research, 30
K. Subramanyam (1998)
Uncertain Precision and Price Reactions to Information
Oliver Kim, Robert Verrecchia (1991)
Trading Volume And Price Reactions To Public AnnouncementsJournal of Accounting Research, 29
R. Freeman, Senyo Tse (1992)
A NONLINEAR MODEL OF SECURITY PRICE RESPONSES TO UNEXPECTED EARNINGSJournal of Accounting Research, 30
Brown Brown, Goetzmann Goetzmann, Ross Ross (1995)
SurvivalJournal of Finance, 50
Somnath Das, B. Lev (1994)
Nonlinearity in the Returns‐Earnings Relation: Tests of Alternative Specifications and Explanations*Contemporary Accounting Research, 11
Abstract. We formalize the effects of an earnings disclosure on security prices under an assumption of limited liability. We derive various nonlinear relations between equity prices and earnings under a variety of capital structure assumptions and. if possible, we tie the relations attained to results from the existing empirical literature. We also characterize how debt prices respond to earnings when holders of debt have limited liability. Finally, we analyze how changes in the degree of leverage and conversion features of debt affect the relation between price and earnings.
Contemporary Accounting Research – Wiley
Published: Sep 1, 1997
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