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作者：CHEUNG, JK; LI, M
作者单位：University System of Maryland; University of Maryland College Park
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作者：IMHOFF, EA; LOBO, GJ
作者单位：Syracuse University
摘要：SYNOPSIS AND INTRODUCTION: This study examines the effect of the uncertainty in analysts' earnings forecasts on the relation between unexpected returns and unexpected earnings. Numerous theorists have considered the effect of uncertainty on firm value, with particular interest in the uncertainty in a firm's future cash flows that underpin firm value. Since accrual accounting earnings represent a theoretical proxy for future cash flows, the effect of earnings uncertainty on firm value is also o...
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作者：CUSHING, BE; LECLERE, MJ
作者单位：University System of Maryland; University of Maryland College Park
摘要：SYNOPSIS AND INTRODUCTION: This study provides additional evidence on factors influencing inventory accounting policy choice. Following Lee and Hsieh (1985), Dopuch and Pincus (1988), and Lindahl (1989), we compare long-time FIFO users with long-time LIFO users to test variables that might be expected to influence inventory method choice. This study incorporates a tax savings variable in evaluating the LIFO/FIFO choice. We also survey financial executives to corroborate the results of secondar...
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作者：JENNINGS, R; MEST, DP; THOMPSON, RB
作者单位：University System of Maryland; University of Maryland College Park
摘要：SYNOPSIS AND INTRODUCTION: During 1974-75, more than a fourth of the manufacturing and merchandising firms listed on the New York Stock Exchange and the American Stock Exchange adopted or extended their use of the last-in, first-out (LIFO) method of inventory accounting. Because a change to LIFO accounting can materially affect a firm's cash flows, the stock price behavior of firms adopting LIFO during fiscal year 1974 has been studied extensively. However, existing studies provide little evid...
