Asymmetric Timeliness of Earnings and Shareholder Distributions

• Main Authors: Frankel, Richard, Sun, Yan, WANG, Rong
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2008
• 主題: Asymmetric timeliness; shareholder distributions; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research_smu/81; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1080&context=lkcsb_research_smu
• 機構: Singapore Management University

We study whether more asymmetrically timely earnings constrain payouts to shareholders in the presence of bad news. Our goal is to provide evidence on the ex post contracting benefits of accounting conservatism. We distinguish between cash flow asymmetric timeliness and accrual asymmetric timeliness...