Traditional management thinking and research has generally regarded the new and used durable goods markets as independent, addressing analytical issues in each in isolation. This static perspective however is limited, as in fact the new and used markets for durable goods should be linked in a dynamic fashion, and the actions in the market for new goods will have repercussions in the used goods ...

This paper addresses the incremental effects of two anomalous variables: pricescaled one-year-ahead analysts’ early-in-the-year earnings forecasts from Elgers, Lo, and Pfeiffer (2001) and price-scaled implicit firm values from Frankel and Lee (1998), where implicit firm values are defined in a manner consistent with the Ohlson (1995) residual income model. Because analysts’ forecasts are input ...

Proposals for changes in the earnings test continue to be made. An important element in a decision to change the test is who receives the increased benefits resulting from the change. This article estimates and analyzes the distribution of increased benefits resulting from: (a) The liberalization in the test contained in the 1977 social security amendments, (b) possible future liberalizations o...

This article summarizes the report on the earnings sharing implementation study mandated by the Social Security Amendments of 1983. In general, earnings sharing means that a married couple would share equally any earnings credited for social security purposes during years of their marriage. The principles of earnings sharing can be meshed with present law in a variety of ways. A range of earnin...

Burgstahler and Eames (2003) present evidence that analysts commonly anticipate earnings management to avoid small losses, but often incorrectly predict its occurrence. Here we consider whether the market’s behavior mimics that of analysts. Our results suggest that analysts exhibit more forecast optimism in their zero earnings forecasts than in their other small earnings forecast levels, and ma...

Labor Market Assimilation and the Self-Employment Decision of Immigrant Entrepreneurs This paper uses data from the 1980 and 1990 U.S. Censuses to study labor market assimilation of self-employed immigrants. Separate earnings functions for the self-employed and wage/salary workers are estimated. To control for endogenous sorting into the sectors, models of the self-employment decision are estim...

The labor force participation rates of men and women aged 62-79 have notably increased since the mid-1990s. The result is a dramatic increase in the share of total money income attributable to earnings. For persons aged 65-69, the earnings share of total income increased from 28 percent in 1980 to 42 percent in 2009. For this age group in the late 1980s and early 1990s, Social Security benefits...

Research on the usefulness of financial information generally focuses on the innovation in the information examined, such as an earnings surprise or cash flow growth. Consequently, prior research sheds little light on the role of the rich historical record of financial information in users’ decision-making. Using a sample of published restatements of earnings, we show that the revision of the h...

Validation studies that compare survey-reported earnings to administrative-recorded earnings are useful to assess the extent and implications of measurement error in labor market data. While previous work typically used small restrictive samples with topcoded earnings, this paper uses data from the 1996 Survey of Income and Program Participation (SIPP) Panel matched to Social Security administr...

Full, on-time, and with Quality disclosure of financial information can lead to the transparency of such information and decreases information asymmetry. Among the published information of firms, earnings are of priority importance attended by many users; therefore, the issue of the transparency of accounting earnings is of high importance. The aim of this study is investigating the accounting ...