Abstract
dc:description.abstractThis dissertation investigates the effects of changes in the accounting environment on the capital markets. Included are three manuscripts, each of which, make an important contribution to the accounting literature. The first two manuscripts investigate the impact and importance of analysts' forecasts. The third manuscript documents the impact of eliminating an important accounting disclosure. This dissertation makes the following contributions to the accounting literature. The first manuscript documents that investor skepticism towards meet/beat firms appears to have been a temporary phenomenon and investors have resumed rewarding firms that meet/beat analysts' earnings expectations. Further, the study provides evidence that changes in the analyst forecasting environment also contributed to this temporary decline implying that the scandals did not have as strong of an effect on investors' confidence in earnings as previously believed. The second manuscript contributes to the accounting literature by documenting the importance of meeting/beating cash flow forecasts to participants in the debt markets. Finally, the third manuscript contributes to the existing literature regarding the value relevance of the IFRS -- U.S.GAAP reconciliation by documenting a significant decrease in publicly available information to equity investors at the first reporting period following the SEC's decision to eliminate the reconciliation. All of these manuscripts extend what is currently known about the importance of public disclosures to capital market participants.
Degree
thesis:*- Name thesis:degree_name
- Ph. D.
- Level thesis:degree_level
- doctoral
- Discipline thesis:degree_discipline
- Accounting and Information Systems
- Department dc:contributor.department
- Accounting and Information Systems
- Grantor dc:publisher
- Virginia Tech
- Year dc:date.issued
- 2010
Author and committee
dc:creator, dc:contributor.*- Author dc:creator
-
- Edmonds, Christopher Thomas
- Chair dc:contributor.committeechair
-
- Maher, John J.
- Committee members dc:contributor.committeemember
-
- Oler, Mitchell J.
- Kumar, Raman
- Brozovsky, John A.
- Brown, Robert M.
Subjects
dc:subject × 4Rights
dc:rights- Statement dc:rights
-
- In Copyright
- Licence dc:rights.uri
Identifiers
dc:identifier.*- Dc Identifier Other
- etd-06162010-203347
- OAI identifier oai:identifier
- oai:vtechworks.lib.vt.edu:10919/38615