Gus De Franco

Analysts’ use of toxic emissions data

Purpose This study examines whether financial analysts function as information intermediaries by incorporating Toxics Release Inventory (TRI) data into their assessments of firms' environmental risks, as reflected in earnings forecasts and stock recommendations. It further invest...

Users' Solicitation of Disclosure When Accounting Standards Restrict Managers' Discretion Over Financial Reporting: Evidence From Conference Calls

ABSTRACT We examine how GAAP‐based restrictions on managers' discretion over financial reporting influence financial statement users' efforts to acquire disclosure from management. During the question‐and‐answer part of a firm's conference call, we find that GAAP‐based restrictio...