The effect of limited liability on the market response to disclosure

Contemporary Accounting Research

Volumn 14, Issue 3, 1997, Pages 515-541

  Fischer, Paul E ^a   Verrecchia, Robert E ^a  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0041805160     PISSN: 08239150     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1911-3846.1997.tb00539.x     Document Type: Article

References (21)

1. Antle, R., J. S. Demski, and S. G. Ryan. 1994 Multiple Sources of Information, Valuation, and Accounting Earnings. Journal of Accounting, Auditing, and Finance 9 (Fall): 675-96.
2. Brealey, R. and S. Myers. 1984 Principals of Corporate Finance, 2nd ed. New York: McGraw-Hill Publishing Company.
3. Brown, S. J., W. N. Goetzmann, and S. A. Ross. 1995 Survival. Journal of Finance 50 (July): 853-73.
4. Bushman, R., and R. Indjejikian. 1993 Accounting Income, Stock Price, and Managerial Compensation. Journal of Accounting and Economics 16 (January, April, July): 3-23.
5. Burgstahler, D. and I. Dichev. 1993 Earnings, Adaptation, and Equity Value. Working Paper. University of Washington.
6. Das, S., and B. Lev. 1994 Nonlinearity in the Returns-Earnings Relation: Tests of Alternative Specifications and Explanations. Contemporary Accounting Research 11 (Fall): 353-79.
7. Dhaliwal, D. S., and S. S. Reynolds. 1994 The Effect of Default Risk on Debt and the Earnings Response Coefficient. Accounting Review 69 (April): 412-19.
8. DeGroot, M. 1970 Optimal Statistical Decisions. New York: McGraw-Hill Publishing Company.
9. Demski, J. S., and G. A. Feltham. 1994 Market Response to Financial Reports. Journal of Accounting and Economics 17 (January): 3-40.
10. Freeman, R., and S. Tse. 1992 A Nonlinear Model of Security Price Response to Accounting Earnings. Journal of Accounting Research 30 (Autumn): 185-209.
11. Hayn, C. 1995 The Information Content of Losses. Journal of Accounting and Economics 20 (September): 125-53.
12. Holthousen, R. W., and R. E. Verrecchia. 1988 The Effect of Sequential Information Releases on the Variance of Price Changes in an Intertemporal Multi-Asset Market. Journal of Accounting Research 26 (Spring): 82-106.
13. Kim, O., and R. E. Verrecchia. 1991 Trading Volume and Price Reactions to Public Announcements. Journal of Accounting Research 29 (Autumn): 302-321.
14. _. 1994 Market Liquidity and Volume Around Earnings Announcements. Journal of Accounting and Economics 17 (January): 41-67.
15. Kim, O., and Y. Suh. 1993 Incentive Efficiency of Compensation Based on Accounting and Market Performance. Journal of Accounting and Economics 19 (January, April, July): 25-54.
16. Lundholm, R. J. 1988 Price-Signal Relations in the Presence of Correlated Public and Private Information. Journal of Accounting Research 26 (Autumn): 107-18.
17. _. 1991 Public Signals and the Equilibrium Allocation of Information. Journal of Accounting Research 29 (Autumn): 322-49.
18. McNichols, M., and B. Trueman. 1994 Public Disclosure, Private Information Collection, and Short-term Trading. Journal of Accounting and Economics 17 (January): 69-94.
19. Smith, C. 1979 Applications of Option Pricing Analysis. In Handbook of Financial Economics. 79-121. Amsterdam: North-Holland Publishing Co.
20. Subramanyan, K. R. 1996 Uncertain Precision and Price Reactions to Information. Accounting Review 71 (April): 207-19.
21. _, and J. J. Wild. 1993 The Going Concern Assumption and the Informativeness of Earnings. Working Paper. University of Wisconsin.