Financial Accounting and Equity Markets

Financial Accounting and Equity Markets

Philip Brown is one of the most admired and respected accounting academics alive today. He was a pioneer in capital markets research in accounting, and his 1968 article, coauthored with Ray Ball, “An Empirical Evaluation of Accounting Income Numbers,” arguably had a greater impact on the course of accounting research, directly and indirectly, than any other article written during the second half of the twentieth century. Since that time, his innovative research has focused on issues that bridge accounting and finance, including the relationships between net profit reports and the stock market, the long-run performance of acquiring firms, statutory sanctions and voluntary corporate disclosure, and the politics ...