Market reaction to non-GAAP earnings around SEC regulation

Bond, D; Czernkowski, R; Lee, YS; Loyeung, A

Market reaction to non-GAAP earnings around SEC regulation

Bond, D

Czernkowski, R

Lee, YS Loyeung, A

Permalink

Publication Type:: Conference Proceeding
Citation:: Journal of Contemporary Accounting and Economics, 2017, 13 (3), pp. 193 - 208
Issue Date:: 2017-12-01

Open Access

Copyright Clearance Process

Recently Added
In Progress
Open Access

This item is open access.

Adobe PDF

Download Accepted Manuscript versionAdobe PDF (403.51 kB)

View on publisher's site

View statistics

Full metadata record

Field	Value	Language
dc.contributor.author	Bond, D https://orcid.org/0000-0001-5134-4469	en_US
dc.contributor.author	Czernkowski, R https://orcid.org/0000-0002-8381-8304	en_US
dc.contributor.author	Lee, YS	en_US
dc.contributor.author	Loyeung, A https://orcid.org/0000-0003-2049-0492	en_US
dc.date.issued	2017-12-01	en_US
dc.identifier.citation	Journal of Contemporary Accounting and Economics, 2017, 13 (3), pp. 193 - 208	en_US
dc.identifier.issn	1815-5669	en_US
dc.identifier.uri	http://hdl.handle.net/10453/100016
dc.description.abstract	© 2017 Elsevier Ltd This study examines the impact of Regulation G in 2003 and the issuance of Compliance and Disclosure Interpretations (C&DIs) in 2010 – on the reporting of non-GAAP earnings. The study finds that (i) both Regulation G and C&DIs are associated with an increase in the quality of non-GAAP earnings exclusions (i.e. the exclusions are more transitory and have less predictive power for future operating earnings). (ii) Regulation G led to a decrease in the amount of total positive exclusions used to meet or beat analysts’ forecasts, but C&DIs partially reversed this result. (iii) Regulation G increases, and C&DIs decrease, the earnings response coefficients (ERCs).	en_US
dc.relation.ispartof	Journal of Contemporary Accounting and Economics	en_US
dc.relation.isbasedon	10.1016/j.jcae.2017.09.001	en_US
dc.title	Market reaction to non-GAAP earnings around SEC regulation	en_US
dc.type	Conference Proceeding
utslib.citation.volume	3	en_US
utslib.citation.volume	13	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	open_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	13	en_US

Abstract:

© 2017 Elsevier Ltd This study examines the impact of Regulation G in 2003 and the issuance of Compliance and Disclosure Interpretations (C&DIs) in 2010 – on the reporting of non-GAAP earnings. The study finds that (i) both Regulation G and C&DIs are associated with an increase in the quality of non-GAAP earnings exclusions (i.e. the exclusions are more transitory and have less predictive power for future operating earnings). (ii) Regulation G led to a decrease in the amount of total positive exclusions used to meet or beat analysts’ forecasts, but C&DIs partially reversed this result. (iii) Regulation G increases, and C&DIs decrease, the earnings response coefficients (ERCs).

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/100016