The relevance of Form 8-K reports

Article Abstract:

A sample of 5,736 Form 8-Ks filed in 1993 with the US Securities and Exchange Commission were examined with particular focus on their timeliness, informativeness and impact on stock prices. The results show that the timeliness of filings is affected by statutory deadlines. The most timely disclosures include voluntary reports of unspecified important events, with no statutory due date. The briefest filing lags were found to be those for 8-K reports on director resignations and auditor changes, while the longest lags were found to be those for Form 8-K disclosures of bankruptcies and changes in control and assets. The findings indicate a negative relationship between filing delay and firm size, and provide limited evidence of a market reaction to Form 8-K filings.

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The predictive ability of geographic segment disclosures

Article Abstract:

The efficacy of geographically segmented (GEOG) data in providing predictive information on the earnings process was analyzed. Previous research has ignored GEOG disclosures and concentrated on line-of-business (LOB) segment reports. Research into the predictive ability of GEOG disclosures is particularly relevant since the SEC is considering requiring LOB and GEOG disclosures in all interim financial statements. Research results indicated that GEOG data offers predictive ability for annual income and sales.

Forecasting

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Dividend taxation in firm valuation: new evidence

Article Abstract:

Corporations' management of their financial statements are evaluated, focusing on their reporting of dividend taxation and its impact on corporate valuation. The authors conclude that omitting dividend taxes from balance sheets overstate retained earnings while understating liabilities.

Statistical Data Included, Models, Analysis, Management, Taxation, Accounting and auditing, Dividends, Corporations, Valuation, Financial statements, Earnings per share, Income forecasting

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