About the Book
A selection of research on the use of financial statement information in financial markets. Divided into five sections, this text includes coverage on the use of financial statement information in stock markets, by lenders and in risk assessment and bankruptcy protection, as well as its use in takeovers and management buyouts. A section is devoted to forecasting, including analysts' earnings forecasts. The text offers over 30 readings, written by several academics in this area, including Eugene Fama, Stewart Myers and Edward Altman.
Table of Contents:
PART 1: FINANCIAL STATEMENT INFORMATION AND STOCK PRICES 1) Kothari, S.P. and R. Sloan, 1992, Information in prices about future earnings: Implications for earnings response coefficients, Journal of Accounting & Economics 15. 2) Easton, Peter D., Trevor S. Harris, and James A. Ohlson, 1992, Accounting earnings can explain most of security returns: The case of long event windows, Journal of Accounting & Economics 15. 3) Anthony, Joseph H. and K. Ramesh, 1992, Association between accounting performance measures and stock prices: A test of the life cycle hypothesis, Journal of Accounting and Economics 15. 4) Lev, B. and S. Thiagarajan, 1991, Financial information analysis, working paper, University of California, Berkeley. 5) Schipper, K., 1990, Information transfers, Accounting Horizons, December, 97-107. 6) Ball, Ray, 1992, Earnings and Price anomalies, Journal of Accounting and Economics 11. 7) Ou, Jane and Steven H. Penman, 1989, Financial statement analysis and the prediction of stock returns, Journal of Accounting and Economics 8) Bernard, Victor L. and Jacob K. Thomas, 1990, Evidence that stock prices do not fully reflect implications of current earnings for future earnings, Journal of Accounting and Economics 13. 9) Fama, Eugene F. and Kenneth R. French, 1992, The cross-section of expected returns, the Journal of Finance. 10) Kothari, S.P. and J. Shanken, 1992, Stock return variation and expected dividents: A time series and cross-sectional analysis, Journal of Financial Economics 31. PART 2: IMPLICATIONS OF ALTERNATIVE ACCOUNTING METHODS FOR FINANCIAL STATEMENT ANALYSIS 11) Dawson, J., P. Neupert, and C. Stickney, 1980, Restating financial statements for alternative GAAPS: Is it worth the effort? Financial Analysts Journal. 12) Stephens, R. and V.Govindrajan, 1990, on accessing a firm's cash generating ability, The Accounting Review 65. 13) Beaver, W. and S. Ryan, 1985, How well do statement no. 33 earnings explain stock returns, Financial Analysts Journal. 14) Palepu, K., The anatomy of an accounting change, Chapter 3 in Accounting and Management. 15) Beaver, W. and R. Dukes, 1973, Interperiod tax allocation, earnings expectations and the behaviour of security prices, Accounting Review. PART 3: TIME-SERIES PROPERTIES OF ACCOUNTING EARNINGS, ANALYSTS' FORECASTS AND PRICE-BASED FORECASTS 16) Ball, R. and R. Watts, 1972, Some time series properties of accounting income, Journal of Finance. 17) Brooks, L. and D. Buckmaster, 1976, Further evidence of the time series properties of accounting income, Journal of Finance 31. 18) Brown, L., P. Griffin, R. Hagerman, and M. Zmijewski, 1987, An evaluation of alternative proxies for the market's assessment of unexpected earnings, Journal of Accounting and Economists 9. 19) Collins, D., S.P. Kothari, and J. Rayburn, 1987, Firm size and the information content of prices with respect to earnings, Journal of Accounting and Economics 9.
