Bringing the Future Forward: The Effect of Disclosure on the Returns-Earnings Relation

By Russell J. Lundholm, Linda A. Myers. 2002

460 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/37e4513cc64faccd130b1e39342cf78932f3ad60

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Citations in the corpus

Does Voluntary Disclosure Improve Stock Price Informativeness (2008, result): “Our paper is closely related to several studies in the accounting literature that show that expanded disclosure increases the extent to which current stock prices reflect information about future earnings (Gelb and Zarowin, 2002; Lundholm and Myers, 2002).”
The Asset Growth Effect: Insights from International Equity Markets (2013, background): “A series of accounting studies, such as Gelb and Zarowin (2002), Lundholm and Myers (2002), Tucker and Zarowin (2006), and Orpurt and Zang (2009), have shown that FERC is positively correlated with firm attributes that are indicative of informative stock prices, in particular the quality of…”
Do Direct Cash Flow Disclosures Help Predict Future Operating Cash Flows and Earnings (2009, methodology): “Following Lundholm and Myers (2002) and Tucker and Zarowin (2006), we combine the three future years’ earnings into 3tX and future three years’ returns into 3tR to increase the power of the test.”
Managerial Ability and Income Smoothing (2019, unknown): “…price informativeness about future performance more than smoothing by low ability managers, we modify a future earnings response coefficient (FERC) model (e.g., Collins et al. 1994; Lundholm and Myers 2002; Choi, Myers, Zang, and Ziebart 2011) by decomposing earnings into accruals and cash flows.”
Capitalization of R&D and the Informativeness of Stock Prices (2007, methodology): “Our tests are based on those in Gelb and Zarowin (2002) and Lundholm and Myers (2002), who relate measures of voluntary corporate disclosure to the FERC.”
Property rights protection, corporate transparency, and growth (2009, unknown): “al (1994), Lundholm and Myers (2002), and Durnev, et al.”
Is There a Dark Side to Exchange Traded Funds? An Information Perspective (2017, unknown): “…and future firm earnings; prior research refers to this coefficient as the “future earnings response coefficient” (FERC) and offers it as a measure of the extent to which current stock returns reflect/predict future firm earnings (Lundholm and Myers 2002, Ettredge et al. 2005, Choi et al. 2011).”
Evidence that Analyst Following and Institutional Ownership Accelerate the Pricing of Future Earnings (2003, background): “Shane, Soderstrom and Yoon (2001), Bowen, Davis and Matsumoto (2002), and Sunder (2002) find evidence that analysts and institutional investors had an information advantage over other investors prior to Regulation FD. Gelb and Zarowin (2002) and Lundholm and Myers (2002) find that prices leads of ”