Earnings and dividend informativeness when cash flow rights are separated from voting rights

By Jennifer Francis, Katherine Schipper, L. Vincent. 2005

378 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/ce9740bc4cef274e4b0068b51d8a6fd580ce0d72

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In Accounting

1. Terry Shevlin
2. Christopher S. Armstrong
3. Michelle Hanlon
4. W. Guay
5. Christian Leuz
6. Weili Ge
7. Edward L. Maydew
8. Catherine Schrand

In Strategy and Management

1. Terry Shevlin
2. Christopher S. Armstrong
3. Michelle Hanlon
4. W. Guay
5. Edward L. Maydew
6. Weili Ge
7. Christian Leuz
8. Patricia M. Dechow

Citations in the corpus

• Recognition versus Disclosure of Fair Values (2015, result): “Following Easton and Harris (1991), Francis et al. (2005) and Hanlon et al. (2008), we examine earnings informativeness using the following regression: Retit = η0 + η1Eit + η2Discl_Prit + η3Eit x Discl_Prit + η4IMR_Extit + η5Sizeit + η6Leverageit + η7Lossit + η8MBit + κit (6) where Retit is firm…”
• Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective (2016, neutral): “…of this hypothesis, researchers have found that high financial reporting quality is associated with a lower interest spread, longer maturity (e.g., Francis et al., 2005, and Bharath et al., 2008), a more dispersed syndicate structure (Ball et al., 2008), and lower bid-ask spreads in secondary…”
• An unintended consequence of book-tax conformity: A loss of earnings informativeness (2008, methodology): “Following Francis et al. (2005) and others, we interpret the slope coefficient relating returns to earnings obtained from regressions of annual returns on annual earnings changes as a measure of the informativeness of earnings (we also estimate regressions of annual returns on annual earnings levels”
• Corporate governance and the information environment: Evidence from state antitakeover laws ☆ (2012, neutral): “Prior studies have argued and provided evidence that suggests that entrenched managers are associated with lower levels of transparency (e.g., Francis et al., 2005; Shleifer and Vishny, 1989; Hermalin and Weisbach, 2008).”
• Governance with multiple objectives : evidence from top executive turnover in China (2009, background): “When firms are experiencing financial loss, shareholders have few alternatives but to place a higher weighting on financial performance because financial loss usually triggers a larger declines in stock prices (Francis et al., 2005) and the costs of”
• The introduction of International Accounting Standards in Europe: Implications for international convergence (2005, methodology): “ing and measuring earnings quality and Francis et al. (2004) for evidence that both earnings per-”
• The Role of Information and Financial Reporting in Corporate Governance and Debt Contracting (2010, background): “For example, Fan and Wong (2002) and Francis et al. (2005) advance the hypothesis that because controlling shareholders can monitor management without public disclosures, there may be less governance-related demand for high quality financial reporting, thereby allowing controlling shareholders to…”
• Do Independent Directors Cause Improvements in Firm Transparency (2014, methodology): “Prior research (e.g., Aboody et al., 2005; Francis et al., 2005) suggests that when the variance of the residuals from this regression is higher, earnings quality is lower, and information asymmetry is higher.”