Autore
D?Augusta, Carlo

Titolo
Accrual quality, investor reaction to earnings, and the confirmatory role of sales news
Periodico
Financial reporting
Anno: 2023 - Fascicolo: 2 - Pagina iniziale: 97 - Pagina finale: 121

Purpose: Agency theory predicts that information asymmetry provides agents with an incentive to manipulate performance signals to maximize their utility, which gives principals reasons to distrust such signals. The accounting and finance literature finds empirical support for this prediction by studying how earnings reliability attributes affect investors? reactions to earnings an-nouncements. However, research pays less empirical attention to whether in-vestors skeptical of earnings reliability look for confirmatory signals in other parts of the income statement. This study aims at filling such this research gap.



SICI: 2036-671X(2023)2<97:AQIRTE>2.0.ZU;2-Z
Testo completo: http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74347&Tipo=Articolo PDF

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