Gaap Versus the Street: An Empirical Assessment of Two Alternative Definitions of Earnings

By Mark Bradshaw, Richard G. Sloan. 2002

741 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/f9af18ea16b5d759a11bf6a5784cb444a0351287

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Citations in the corpus

Non-GAAP earnings and board independence (2011, neutral): “First, prior research finds that non-GAAP earnings are used both (1) to inform equity investors (e.g., Bradshaw and Sloan 2002; Brown and Sivakumar 2003; Bhattacharya et al. 2003; Lougee and Marquardt 2004) and (2) to opportunistically mislead them (e.g., Bradshaw and Sloan 2002; Doyle et al. 2003;…”
The Disclosure of Non-GAAP Earnings Information in the Presence of Transitory Gains (2014, neutral): “2 See for example, Bradshaw and Sloan 2002; Bhattacharya et al. 2003; Doyle et al. 2003; Lougee and Marqu dt 2004; Johnson and Schwartz 2005; Black and Christensen 2009; Frankel et al. 2011; Doyle et al. 2013.”
The Value-Relevance of Adopting IFRS: Evidence from 145 NGAAP Restatements (2008, neutral): “Transitory components in earnings due for example to revaluations, seem to harm the overall value relevance of earnings (but not of the balance sheet) and prove the necessity of reporting these items separately so that earnings may be normalized, see Bradshaw and Sloan (2002).”
Earnings management or forecast guidance to meet analyst expectations? (2009, neutral): “pro forma earnings or Street earnings2) are more informative and more persistent than GAAP earnings (Bradshaw and Sloan, 2002; Bhattacharya et al., 2003), the financial press and accounting regulators in the US claim that managers may be behaving opportunistically by removing value-relevant items to”
Limited Attention, Information Disclosure, and Financial Reporting (2003, background): “Bradshaw and Sloan (2002) report a sharp increase in the discussion of pro forma earnings before discussing GAAP earnings in disclosures in recent years. potential adjustment.”
SEC interventions and the frequency and usefulness of non-GAAP financial measures (2006, background): “Finally, I include fourth quarters, when most of the nonGAAP financial measures are disclosed (Bradshaw and Sloan, 2002), in my analysis.”
Inside the 'Black Box' of Sell-Side Financial Analysts (2015, neutral): “GAAP versus “street” earnings (Bradshaw and Sloan, 2002).”
Evolution in Value Relevance of Accounting Information (2019, neutral): “Bradshaw and Sloan (2002) also documents an increase in analyst Street earnings, which also generally excludes special items.”
The Impact of the Sec's Regulation of Non-Gaap Disclosures (2008, positive): “Following Bradshaw and Sloan (2002), we employ long-window, quarterly, buy-and-hold returns as the dependent variable (market adjusted returns produce identical inferences).”
Emphasis on Pro Forma Versus Gaap Earnings in Quarterly Press Releases: Determinants, Sec Intervention, and Market Reactions (2005, neutral): “Our findings suggest that greater emphasis on pro forma earnings results in a stronger market reaction to the pro forma earnings surprise 3 Bradshaw and Sloan (2002) and Bhattacharya et al. (2003) both provide some descriptive data on the emphasis placed on pro forma earnings in press releases;…”
A Review of the Value Relevance Literature (2009, background): “In response to the lacking value relevance of some GAAP earnings items, analysts have increasingly started to focus on “street” earnings numbers [82].”