Management forecasts, analysts' presentations, conference calls, press releases & websites are all types of...
What is Voluntary Disclosures?
100
_____ news disclosures are perceived to be more credible than _____ news disclosures, ceteris paribus.
What is "bad" and "good"?
100
Projected earnings based on a set of assumptions and often used to present a business plan; also refers to earnings which exclude non-recurring items; non-GAAP methods
What is Pro Forma Earnings?
100
Percent of financing that Patten Corporation offers it's customers.
What is 90%?
100
SNL comedian that attended the U of A.
Who is Kristen Wiig?
200
The capital market will rationally undervalue good ideas and overvalue bad ideas conditional on information available to them.
What is Information Problem?
200
Situation incentives, management's credibility, levels of external and internal assurance, and characteristics of disclosure itself are the four factors of...
What is Disclosure Credibility?
200
According to the study, what type of disclosure had the most impact on a company's economic environment?
What is news disclosure?
200
Percent decline in Patten's share price the week of the article.
What is 13%?
200
The number of final fours the U of A has been to.
What is 4?
300
Given the risk of job loss accompanying poor stock and earnings performance, managers use corporate disclosures to reduce the likelihood of undervaluation.
What is Corporate Control Contest Hypothesis?
300
Evidence is ______ with the hypothesis that a firms incremental cost of issuing debt is inversely related to the quality of it's disclosures.
What is "consistent"?
300
Based on the results of the study, positive news disclosure is "discounted" or "totally credible"?
What is "discounted"?
300
One voluntary disclosure Patten could have made to mitigate the criticism from the public.
What is "Credit Evaluation Process",
"Characteristics of accepting/rejecting loan applicants", or
"Year-by-year breakdown of loan default rates"?
300
The score of the Arizona football game on Saturday.
What is 28-26 USC?
400
Financial analysts, industry experts, financial press, banks, insurance companies are all types of...
What is Information Intermediaries?
400
Disclosure quality measure is obtained from...
What is the Financial Analysts Federation Corporate Information Committee (FAF)?
400
Management's incentive to release bad news more timely (hint: regulation)
What is SEC's Rule 10b-5?
Management has a duty to disclose material information as soon as it becomes known.
400
One financing policy Patten could have disclosed that they perform.
What is "selling receivables to an independent financial institution",
"additional proprietary information with the buyer", or
"convince investors that receivables have a high value by repurchasing stock at a premium"?
400
The oldest member of the Beatles (if they were all still alive today).
Who is Ringo Starr?
500
What are the 6 forces that affect managers' disclosure decisions?
Capital market transactions,
corporate control contests,
stock compensation,
litigation,
proprietary costs &
management talent signaling
500
These are the two measures of the cost of debt...
What is Yield to Maturity & Total Interest Cost (ICOST)?
500
According to Joseph Liberman, why are analysts reports to be taken with a grain of salt?
He claims that the millions of dollars analysts earn from investment banking services "compromise analysts objectivity".
500
The year the Forbes article, "Old Game, New Twist", was released (100 extra points for the exact date)
What is January 12, 1987?
500
The 5th president of the United States of America.