The Impact of the Sec's Regulation of Non-Gaap Disclosures

By Frank Heflin, Charles Hsu. 2008

222 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/0fb78c281e7a2950cea73f5a66ff3aaf9b22c446

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Citations in the corpus

The Disclosure of Non-GAAP Earnings Information in the Presence of Transitory Gains (2014, unknown): “…press rleases (Marques 2006; Entwistle et al. 2006), non-GAAP earnings are less likely to just reach analyst forecasts when GAAP earnings do not (Heflin and Hsu 2008), other exclusions tend to be less opportunistic and more transitory as they are less associated with future ea nings and cash…”
SEC interventions and the frequency and usefulness of non-GAAP financial measures (2006, background): “Lougee and Marquardt (2004) identify several of the determinants I use in my analysis, as do Heflin and Hsu (2005). SPEC is a dummy variable that indicates the presence of special items, for which I expect to find a positive coefficient.”
Earnings management or forecast guidance to meet analyst expectations? (2009, unknown): “Although McVay (2006) does not explore potential changes in the practice of classification shifting by US firms after the Sarbanes Oxley Act of 2002, recent evidence suggests that the disclosure requirements of the Act had a significant impact on US managers’ attempts to misclassify income component”
Sec Scrutiny and the Evolution of Non-Gaap Reporting (2008, unknown): “Indeed, Marques (2006), who examines the change in frequency of non-GAAP reporting, and Heflin and Hsu (2005), who examine changes in the likelihood that nonGAAP numbers exceed earnings benchmarks, have already employed two of these alternative techniques.”
Non-GAAP earnings and board independence (2011, background): “Several studies document a decline in the use of non-GAAP earnings (e.g., Entwistle et al., 2006; Marques, 2006; Heflin and Hsu, 2008).”
How far can we trust earnings numbers? What research tells us about earnings management (2013, background): “Heflin and Hsu (2008) also find evidence that is broadly supportive of a reduction in the opportunistic disclosure of non-GAAP earnings.”
Do Managers Define Non-GAAP Earnings to Meet or Beat Analyst Forecasts? (2013, unknown): “[2008] and Heflin and Hsu [2008]).”
Female CEOs and Core Earnings Quality: New Evidence on the Ethics Versus Risk-Aversion Puzzle (2018, unknown): “Heflin and Hsu (2008) found that SOX has affected core-earnings reporting, and therefore the likelihood of detecting it has become potentially high in post-SOX era.”
Analysts’ GAAP earnings forecasts and their implications for accounting research (2018, result): “3 This form of measurement error has generated cautionary statements in the literature similar to those discussed earlier about investor preference for non-GAAP earnings (Heflin and Hsu, 2008; Doyle et al., 2013).”