Ball and Brown (1968): A Retrospective

• 成果类型: Article
• 署名作者: Ball, Ray; Brown, Philip R.
• 署名单位: University of Chicago; University of New South Wales Sydney; University of Western Australia
• 刊物名称: ACCOUNTING REVIEW
• ISSN/ISSBN: 0001-4826
• DOI: 10.2308/accr-50604
• 发表日期: 2014
• 页码: 1-26
• 关键词: time-series properties; stock-market prices; earnings announcements; ACCOUNTING EARNINGS; information-content; quarterly earnings; FUTURE EARNINGS; FULLY REFLECT; Cash flows; BEHAVIOR

摘要

This essay provides a retrospective view on our co-authored paper, Ball and Brown (1968). The retrospective was commissioned by Gregory B. Waymire, then President of the American Accounting Association. It describes how we both came to be Ph.D. students at The University of Chicago and set about researching the relation between earnings and share prices. It outlines the background against which we conducted the research, including the largely a priori accounting research literature at the time and the electric atmosphere and radical new ideas then in full bloom at Chicago. We describe some of the principal research choices we made, and their strengths and weaknesses. We also describe the reception our research received and how the related literature subsequently unfolded.