Do investors value smooth performance

By Brian R. Rountree, J. Weston, George Allayannis. 2008

259 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/35390063f747150c573fb8839b0bc1414f625b21

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Citations in the corpus

The Effects of Derivatives on Firm Risk and Value (2011, unknown): “In particular, firms in the United States, United Kingdom, Australia, Canada, and New Zealand as well as firms 6In related work, Rountree, Weston, and Allayannis (2008) find a negative relation between cash flow volatility and firm value.”
Firms’ earnings smoothing, corporate social responsibility, and valuation (2015, methodology): “22 (2010) who documents a weak relation between smoothness and average stock returns, and with Rountree et al. (2008) who document no price effect for earnings smoothness.”
Does Tax Risk Affect Investor Valuation of Tax Avoidance? (2017, methodology): “In addition, in untabulated robustness tests (included in the Online Appendix), similar to Rountree et al. (2008), we include controls for systematic and idiosyncratic risk (market beta using value-weighted daily market returns and annualized standard deviation of the residuals from regressing…”
Robust Inference With Multiway Clustering (2006, unknown): “White (1984, p.134142) presented formal theorems for a multivariate dependent variable, directly applicable to balanced clusters. Liang and Zeger (1986) proposed this method for estimation in a generalized estimating equations setting, Arellano (1987) for the xed e¤ects estimator in linear panel mo”
Incentives to Inflate Reported Cash from Operations Using Classification and Timing (2012, background): “The mean and median parameter estimates on SALEt / TAt-1 are positive, and the mean and median parameter estimates on ∆SALEt / TAt-1 are negative, consistent with Roychowdhury (2006). All are statistically significant at the 1% level.”
Idiosyncratic Return Volatility and the Information Quality Underlying Managerial Discretion (2012, background): “…information asymmetry, managers may credibly signal to the market their private information about the permanent component of cash flows by consistently exhibiting a negative ρPME,DA (Dye (1988), Demski and Sappington (1990), Tucker and Zarowin (2006), and Rountree, Weston, and Allayannis (2008)).”