The primary objective of this course is to enable you to develop
research skills that are necessary to investigate research
questions involving financial accounting information and the
capital markets.  Given that this is a second seminar in capital
markets research, the focus of the seminar will change through
time to reflect the most relevant current topics in capital
markets research.   However, voluntary disclosure of
accounting-related information is always an emphasis in the
course.   We will achieve our objective by discussing research
papers in capital markets-based research areas and by engaging 
in the design of an empirical research paper.

This course is updated each time it is offered to reflect current
research in the area.  Students retaking the class will be
exposed to new material each time, often from a different 
professor.

1. Earnings and accounting numbers as information 
2. A closer look at the relation between earnings and returns: 
Earnings Timeliness 
3. The faith is shaken: Evidence of post-earnings announcement 
drift
4. Financial Statement Relevance
5. Financial Statement Relevance: Extensions 
6. Financial Statement Relevance in the Presence of Market
Inefficiency 
7. Are Voluntary Management Earnings Forecasts Credible? 
8. Cross-sectional differences in price reactions to management
forecasts 
9.  Management Forecast Incentives: Legal Liability 
10.  Voluntary Disclosure Incentives: Information Asymmetry
11.  Strategic Disclosure (Other Incentives and Potential
Consequences)
12.  The impact of disclosure on firm value and cost of capital
13. Voluntary Disclosure: Review and Future Research
14. The Effects of Disclosure on Relationship Between Earnings
and Returns
15.  Presentation of Research Ideas