Flight to Earnings: The Role of Earnings in Periods of Capital Scarcity
References
- (2010) Liquidity and leverage. J. Financial Intermediation 19(3):418–437.Crossref, Google Scholar
- (2002) Illiquidity and stock returns: Cross-section and time-series effects. J. Financial Markets 5(1):31–56.Crossref, Google Scholar
- (2011) Hedge fund leverage. J. Financial Econom. 102(1):102–126.Crossref, Google Scholar
- (2007) Share restrictions and asset pricing: Evidence from the hedge fund industry. J. Financial Econom. 83(1):33–58.Crossref, Google Scholar
- (2012) Hedge funds as liquidity providers: Evidence from the Lehman bankruptcy. J. Financial Econom. 103(3):570–587.Crossref, Google Scholar
- (2019) Quality minus junk. Rev. Accounting Stud. 24(1):34–112.Crossref, Google Scholar
- (2006) Investor sentiment and the cross-section of stock returns. J. Finance 61(4):1645–1680.Crossref, Google Scholar
- (1968) An empirical evaluation of accounting income numbers. J. Accounting Res. 6(2):159–178.Crossref, Google Scholar
- (2009) Flight-to-quality or flight-to-liquidity? Evidence from the euro-area bond market. Rev. Financial Stud. 22(3):925–957.Crossref, Google Scholar
- (2012) Hedge fund stock trading in the financial crisis of 2007–2009. Rev. Financial Stud. 25(1):1–54.Crossref, Google Scholar
- (1989) Post-earnings-announcement drift: Delayed price response or risk premium? J. Accounting Res. 27:1–36.Crossref, Google Scholar
- (2020) Market uncertainty and the importance of media coverage at earnings announcements. J. Accounting Econom. 69(1):101264.Crossref, Google Scholar
- (2018) How does hedge fund activism reshape corporate innovation? J. Financial Econom. 130(2):237–264.Crossref, Google Scholar
- (2009) Market liquidity and funding liquidity. Rev. Financial Stud. 22(6):2201–2238.Crossref, Google Scholar
- (2001) Do institutional investors prefer near-term earnings over long-run value? Contemporary Accounting Res. 18(2):207–246.Crossref, Google Scholar
- (2000) Corporate disclosure practices, institutional investors, and stock return volatility. J. Accounting Res. 38:171–202.Crossref, Google Scholar
- (2008) In search of distress risk. J. Finance 63(6):2899–2939.Crossref, Google Scholar
- (2012) Earnings volatility, post–earnings announcement drift, and trading frictions. J. Accounting Res. 50(1):41–74.Crossref, Google Scholar
- (2013) Investors’ horizons and the amplification of market shocks. Rev. Financial Stud. 26(7):1607–1648.Crossref, Google Scholar
- (2009) Liquidity and the post-earnings-announcement drift. Financial Anal. J. 65(4):18–32.Crossref, Google Scholar
- (2002) Who underreacts to cash-flow news? Evidence from trading between individuals and institutions. J. Financial Econom. 66(2–3):409–462.Crossref, Google Scholar
- (2008) Why do firms pay dividends? International evidence on the determinants of dividend policy. J. Financial Econom. 89(1):62–82.Crossref, Google Scholar
- (2011) Margin-based asset pricing and deviations from the law of one price. Rev. Financial Stud. 24(6):1980–2022.Crossref, Google Scholar
- (2014) The growth and limits of arbitrage: Evidence from short interest. Rev. Financial Stud. 27(4):1238–1286.Crossref, Google Scholar
- (1995) The information content of losses. J. Accounting Econom. 20(2):125–153.Crossref, Google Scholar
- (2013) Noise as information for illiquidity. J. Finance 68(6):2341–2382.Crossref, Google Scholar
- (2005) Do institutional investors exploit the post-earnings announcement drift? J. Accounting Econom. 39(1):25–53.Crossref, Google Scholar
- (2014) Alphanomics: The Informational Underpinnings of Market Efficiency, 1st ed. (Now Publisher, Boston).Google Scholar
- (2004) The flight-to-liquidity premium in U.S. treasury bond prices. J. Bus. 77(3):511–526.Crossref, Google Scholar
- (2006) Why is the accrual anomaly not arbitraged away? The role of idiosyncratic risk and transaction costs. J. Accounting Econom. 42(1–2):3–33.Crossref, Google Scholar
- (2012) Investor sentiment and stock market response to earnings news. Accounting Rev. 87(4):1357–1384.Crossref, Google Scholar
- (2018) The information content of dividends: Safer profits, not higher profits. NBER Working Paper No. 24237, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2012) Arbitrage crashes and the speed of capital. J. Financial Econom. 104(3):469–490.Crossref, Google Scholar
- (2012) Evaporating liquidity. Rev. Financial Stud. 25(7):2005–2039.Crossref, Google Scholar
- (2008) Implications of transaction costs for the post-earnings announcement drift. J. Accounting Res. 46(3):661–696.Crossref, Google Scholar
- (2021) Archegos blowup puts spotlight on gaps in swap regulation. The Wall Street Journal Online (April 1), https://www.wsj.com/articles/archegos-blowup-puts-spotlight-on-gaps-in-swap-regulation-11617280278.Google Scholar
- (2015) Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined (Princeton University Press, Princeton, NJ).Crossref, Google Scholar
- (1997) The limits of arbitrage. J. Finance 52(1):35–55.Crossref, Google Scholar
- (2001) Forecasting bankruptcy more accurately: A simple hazard model. J. Bus. 74(1):101–124.Crossref, Google Scholar
- (2011) What do dividends tell us about earnings quality? Rev. Accounting Stud. 16(1):1–28.Crossref, Google Scholar
- (2009) Presidential address: Sophisticated investors and market efficiency. J. Finance 64(4):1517–1548.Crossref, Google Scholar
- 1994. Estimating and interpreting forward interest rates: Sweden 1992–1994. NBER Working Paper No. 4871, National Bureau of Economic Research, Cambridge, MA.Google Scholar
- (2011) Simple formulas for standard errors that cluster by both firm and time. J. Financial Econom. 99(1):1–10.Crossref, Google Scholar
- (2014) Asymmetric responses to earnings news: A case for ambiguity. Accounting Rev. 90(2):785–817.Crossref, Google Scholar

