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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Undertaking large-scale disclosure studies when AIMR-FAF ratings are not available: The case of prices leading earnings
Author(s): Hussainey, Khaled
Schleicher, Thomas
Walker, Martin
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Keywords: Voluntary disclosure
Prices leading earnings
Content analysis
Issue Date: 2003
Date Deposited: 2-Feb-2011
Citation: Hussainey K, Schleicher T & Walker M (2003) Undertaking large-scale disclosure studies when AIMR-FAF ratings are not available: The case of prices leading earnings. Accounting and Business Research, 33 (4), pp. 275-294.;
Abstract: The paper presents a new methodology for evaluating corporate voluntary disclosures in the annual report discussion section. Based on a new dataset of electronic annual reports and a standard text analysis software package, we text-search a large number of annual reports at minimal (marginal) cost. The resulting sample sizes are comparable to those employed in studies based on the AIMR-FAF database. A major advantage of our new scoring system is that it is adaptable to the particular requirements of the research project. We demonstrate the importance of this feature when applying our new disclosure scores to the case of ‘prices leading earnings’. While we are unable to find the predicted association with a broadly defined measure of disclosure quality, our results reverse once we focus on a more narrowly defined metric based on forward-looking profit statements.
DOI Link: 10.1080/00014788.2003.9729654
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