Joshua Livnat

New York University

Professor, Accounting

44 West 4th Street, Suite 10-76

Stern School of Business

New York, NY 10012-1118

United States

Prudential Financial - Quantitative Management Associates

2 Gateway Center

6th Fl.

Newark, NJ 07102

United States

SCHOLARLY PAPERS

41

DOWNLOADS
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SSRN RANKINGS

Top 2,005

in Total Papers Downloads

12,970

CITATIONS
Rank 4,132

SSRN RANKINGS

Top 4,132

in Total Papers Citations

130

Scholarly Papers (41)

1.

Investor Sentiment, Post-Earnings Announcement Drift, and Accruals

AAA 2009 Financial Accounting and Reporting Section (FARS) Paper
Number of pages: 40 Posted: 03 Sep 2008 Last Revised: 24 Jun 2009
Joshua Livnat and Christine Petrovits
New York University and College of William and Mary - Mason School of Business
Downloads 1,250 (9,731)
Citation 12

Abstract:

investor sentiment, post-earnings announcement drift, accruals, anomalies

Post-Earnings-Announcement Drift: The Role of Revenue Surprises and Earnings Persistence

Number of pages: 39 Posted: 14 Jul 2003
Joshua Livnat
New York University
Downloads 1,022 (15,384)
Citation 2

Abstract:

revenue forecasts, revenue surprises, post-earnings announcement drift, persistence

Post-Earnings-Announcement Drift: The Role of Revenue Surprises and Earnings Persistence

NYU Working Paper No. 2451/27572
Number of pages: 39 Posted: 08 Oct 2008
Joshua Livnat
New York University
Downloads 166 (142,286)
Citation 2

Abstract:

Option Prices Leading Equity Prices: Do Option Traders Have an Information Advantage?

Columbia Business School Research Paper No. 12-4
Number of pages: 48 Posted: 10 Jan 2011 Last Revised: 13 Jan 2012
Wen Jin, Joshua Livnat and Yuan Zhang
Quantitative Management Associates, New York University and University of Texas at Dallas
Downloads 781 (22,978)
Citation 2

Abstract:

Option Prices Leading Equity Prices: Do Option Traders Have an Information Advantage?

Journal of Accounting Research, Forthcoming
Number of pages: 48 Posted: 10 Jan 2012
Wen Jin, Joshua Livnat and Yuan Zhang
Quantitative Management Associates, New York University and University of Texas at Dallas
Downloads 352 (64,971)
Citation 2

Abstract:

Volatility Skew, Volatility Spread, Information Advantage

4.

Accounting Restatements: Are They Always Bad News for Investors?

Journal of Investing, Forthcoming
Number of pages: 27 Posted: 10 Nov 2005
Jeffrey L. Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah
Downloads 1,124 (12,591)
Citation 15

Abstract:

restatements, accounting errors, accounting principles

Labor Costs and Investments in Human Capital

Number of pages: 35 Posted: 09 May 2000
Marta Ballester, Joshua Livnat and Nishi Sinha
Universidad de Malaga, New York University and Boston University - School of Management
Downloads 806 (21,925)

Abstract:

Labor Costs and Investments in Human Capital

Journal of Accounting, Auditing and Finance, Vol. 17, No. 4, 2002
Posted: 04 Mar 2008
Marta Ballester, Joshua Livnat and Nishi Sinha
Universidad de Malaga, New York University and Boston University - School of Management

Abstract:

The Incremental Information Content of Tone Change in Management Discussion and Analysis

Number of pages: 51 Posted: 30 Apr 2008
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Rutgers University - Rutgers Business School - Newark and New Brunswick, New York University and Fordham University
Downloads 469 (45,799)
Citation 6

Abstract:

Tone, SEC filings, MD&A, Earnings surprises, Accruals

7.
Downloads 632 ( 31,417)
Citation 1

Earnings Guidance after Regulation FD

Journal of Investing, Winter 2003
Number of pages: 30 Posted: 26 Aug 2003
Ronen Feldman, Ron Lazer and Joshua Livnat
Bar-Ilan University - Department of Computer Science, New York University (NYU) - Department of Accounting and New York University
Downloads 584 (34,434)
Citation 1

Abstract:

management forecast, earnings guidance, text mining, regulation FD

Earnings Guidance after Regulation Fd

NYU Working Paper No. 2451/27574
Number of pages: 30 Posted: 08 Oct 2008
Ronen Feldman, Ron Lazer and Joshua Livnat
Bar-Ilan University - Department of Computer Science, New York University (NYU) - Department of Accounting and New York University
Downloads 48 (323,262)
Citation 1

Abstract:

8.

The High-Volume Return Premium and Post-Earnings Announcement Drift

Number of pages: 43 Posted: 18 Apr 2008
Alina Lerman, Joshua Livnat and Richard R. Mendenhall
Yale School of Management, New York University and University of Notre Dame - Department of Finance
Downloads 626 (31,833)
Citation 4

Abstract:

Market efficiency, Trading volume, High-volume return premium, Post-earnings announcement drift

9.
Downloads 613 (31,290)
Citation 1

Abstract:

Post-earnings-announcement-drift, fourth quarter, persistence

The Impact of Earnings on the Pricing of Credit Default Swaps

Number of pages: 37 Posted: 07 Dec 2006
Jeffrey L. Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah
Downloads 564 (36,008)
Citation 13

Abstract:

Credit Default Swaps, credit risk, earnings

The Impact of Earnings on the Pricing of Credit Default Swaps

Accounting Review, Forthcoming
Posted: 03 Dec 2008
Jeffrey L. Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah

Abstract:

Credit Default Swaps, Earnings, Default Risk, Cash Flows, Accruals

11.

Analysts’ Earnings Forecast, Recommendation and Target Price Revisions

Number of pages: 31 Posted: 12 Jul 2011
Ronen Feldman, Joshua Livnat and Yuan Zhang
Hebrew University of Jerusalem - Jerusalem School of Business Administration, New York University and University of Texas at Dallas
Downloads 529 (32,336)
Citation 1

Abstract:

12.

Management's Tone Change, Post Earnings Announcement Drift and Accruals

Number of pages: 65 Posted: 20 Oct 2008 Last Revised: 16 Jul 2009
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Rutgers University - Rutgers Business School - Newark and New Brunswick, New York University and Fordham University
Downloads 507 (35,635)
Citation 23

Abstract:

Textual analysis, earnings drift, accruals, earnings surprises, management tone change, MD&A

13.

Who, if Anyone, Reacts to Accrual Information?

Number of pages: 49 Posted: 20 Mar 2007 Last Revised: 03 Dec 2010
University of Notre Dame - Department of Finance, Yale School of Management, New York University and University of Notre Dame - Department of Finance
Downloads 357 (61,811)
Citation 7

Abstract:

Market efficiency, Anomalies, Accruals, Earnings

14.

The Post Earnings Announcement Drift and Option Traders

Number of pages: 43 Posted: 14 Sep 2012 Last Revised: 16 Jan 2013
Suresh Govindaraj, Sangsang Liu and Joshua Livnat
Rutgers University - Rutgers Business School - Newark and New Brunswick, Rutgers, The State University of New Jersey - Rutgers Business School at Newark & New Brunswick and New York University
Downloads 322 (58,081)

Abstract:

Post-Earnings Announcement Drift Anomaly, Risk Premium Hypothesis, Under-Reaction Hypothesis, Implied (Option) Volatility

15.

Is There News in the Timing of Earnings Announcements?

Journal of Investing, Forthcoming
Posted: 17 Sep 2014 Last Revised: 02 Nov 2015
Joshua Livnat and Li Zhang
New York University and Rutgers Business School

Abstract:

Timing, Earnings announcements, Trading strategy

16.

The New Form 8-K Disclosures

Number of pages: 39 Posted: 30 Apr 2008 Last Revised: 22 Dec 2008
Alina Lerman and Joshua Livnat
Yale School of Management and New York University
Downloads 306 (76,885)
Citation 6

Abstract:

17.

Insider Trading and Analyst Forecast Revisions: Global Evidence

Number of pages: 40 Posted: 31 Jan 2013
Wen Jin, Joshua Livnat and Yuan Zhang
Quantitative Management Associates, New York University and University of Texas at Dallas
Downloads 283 (68,562)

Abstract:

Information Interpretation or Information Discovery: Which Role of Analysts Do Investors Value More?

Number of pages: 48 Posted: 23 Aug 2009 Last Revised: 06 Sep 2011
Joshua Livnat and Yuan Zhang
New York University and University of Texas at Dallas
Downloads 273 (86,862)
Citation 2

Abstract:

Information Interpretation or Information Discovery: Which Role of Analysts Do Investors Value More?

Review of Accounting Studies, Forthcoming
Posted: 08 Feb 2012
Joshua Livnat and Yuan Zhang
New York University and University of Texas at Dallas

Abstract:

19.

Accounting Restatements: Are They Always Bad News for Investors?

NYU Working Paper No. 2451/27575
Number of pages: 27 Posted: 08 Oct 2008
Jeffrey L Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah
Downloads 201 (113,381)
Citation 15

Abstract:

20.

Using Option Implied Volatilities to Predict Absolute Stock Returns - Evidence from Earnings Announcements and Annual Shareholders’ Meetings

Number of pages: 36 Posted: 27 Sep 2014
Suresh Govindaraj, Wen Jin, Joshua Livnat and Chen Zhao
Rutgers University - Rutgers Business School - Newark and New Brunswick, Quantitative Management Associates (QMA) LLC, New York University and Rutgers Business School - Newark and New Brunswick
Downloads 160 (113,914)

Abstract:

Earnings Announcement, Annual Meeting of Shareholders, Option Implied Volatility, Absolute Stock Return

21.

The Impact of Earnings on the Pricing of Credit Default Swaps

NYU Working Paper No. 2451/27576
Number of pages: 37 Posted: 08 Oct 2008
Jeffrey L Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah
Downloads 134 (159,821)
Citation 13

Abstract:

22.

Labor Costs and Investments in Human Capital

NYU Working Paper No. 2451/27573
Number of pages: 35 Posted: 09 Oct 2008
Marta Ballester, Joshua Livnat and Nishi Sinha
affiliation not provided to SSRN, New York University and Boston University - School of Management
Downloads 118 (183,146)
Citation 4

Abstract:

23.

Earnings Revisions in SEC Filings from Prior Preliminary Announcements

Journal of Accounting, Auditing and Finance, Forthcoming
Number of pages: 50 Posted: 21 Jan 2011
Dana Hollie, Joshua Livnat and Benjamin Segal
Louisiana State University, New York University and Fordham University
Downloads 88 (207,471)
Citation 1

Abstract:

market efficiency, asset pricing, earnings announcement, SEC filings, earnings revisions

24.

Market Reaction to Quantitative and Qualitative Order Backlog Disclosures

Number of pages: 46 Posted: 08 Dec 2014
Hebrew University of Jerusalem - Jerusalem School of Business Administration, Rutgers University - Rutgers Business School - Newark and New Brunswick, New York University and Rutgers, The State University of New Jersey - Accounting
Downloads 70 (207,471)

Abstract:

order backlog; earnings surprises; qualitative disclosure.

25.

Eternal Sunshine: Are U.S. Analysts More Optimistic than Foreign Analysts?

Number of pages: 30 Posted: 11 Sep 2014 Last Revised: 10 Dec 2014
Joshua Livnat and Li Zhang
New York University and Rutgers Business School
Downloads 61 (253,801)

Abstract:

U.S. analysts, Foreign analysts, Optimistic bias

26.

Reevaluation of Revaluations: A Cross-Country Examination of the Motives and Effects on Future Performance

Journal of Business Finance & Accounting, Vol. 34, No. 7-8, pp. 1025-1050, September/October 2007
Number of pages: 26 Posted: 15 Oct 2007
Hebrew University of Jerusalem - Jerusalem School of Business Administration, affiliation not provided to SSRN, affiliation not provided to SSRN and New York University
Downloads 17 (440,194)

Abstract:

27.

Are Extended Hours Prices Predictive of Subsequent Stock Returns?

Number of pages: 38 Posted: 15 Jul 2016 Last Revised: 01 Dec 2016
Shai Levi, Joshua Livnat, Li Zhang and Xiao-Jun Zhang
Tel Aviv University, New York University, Rutgers Business School and University of California, Berkeley
Downloads 0 (107,800)

Abstract:

Extended hours trading, earnings announcements, stock recommendation changes, SEC filings, under-reaction

28.

Do Directors Have a Use-By Date? Examining the Impact of Board Tenure on Firm Performance

Number of pages: 51 Posted: 05 Feb 2016 Last Revised: 03 Jun 2016
New York University, Prudential Financial - Quantitative Management Associates, Rutgers, The State University of New Jersey - Accounting and Quantitative Management Associates
Downloads 0 (149,247)

Abstract:

board tenure, firm value, abnormal returns, growth firms

29.

Modified IR As a Predictor of Fund Performance

Number of pages: 40 Posted: 22 Nov 2015
Joshua Livnat, Gavin Smith and Martin B. Tarlie
New York University, Prudential Financial - Quantitative Management Associates and Quantitative Management Associates
Downloads 0 (187,885)

Abstract:

Modified Information Ratio, Fund selection, Predicting Fund Performance

Large Price Changes and Subsequent Returns

Journal of Investment Management, 2013
Posted: 13 Sep 2014
Rutgers University - Rutgers Business School - Newark and New Brunswick, New York University, Temple University - Fox School of Business and Rutgers Business School - Newark and New Brunswick

Abstract:

Analyst price target revisions, Analyst earnings forecast revisions, Large price changes, Trading strategy

Large Price Changes and Subsequent Returns

Journal of Investment Management (JOIM), Third Quarter 2014
Posted: 16 Nov 2014
Rutgers University - Rutgers Business School - Newark and New Brunswick, New York University, Temple University - Fox School of Business and Independent

Abstract:

Large price changes, analyst revisions, earnings forecasts, target price, abnormal returns, momentum, reversals

31.

Conditional Versus Unconditional Persistence of RNOA Components: Implications for Valuation

Review of Accounting Studies, Forthcoming
Posted: 20 Dec 2009 Last Revised: 11 Aug 2010
Eli Amir, Itay Kama and Joshua Livnat
Tel Aviv University, Tel Aviv University - The Leon Recanati Graduate School of Business Administration and New York University

Abstract:

Persistence, DuPont Decomposition, Market Reaction, Financial Analysis, Ratios

32.

Quarterly Accruals or Cash Flows in Portfolio Construction?

Financial Analysts Journal, Vol. 64, No. 3, 2008
Posted: 11 Sep 2008
Joshua Livnat and Germán López-Espinosa
New York University and University of Navarra

Abstract:

Portfolio Management: Equity Strategies, Equity Investments, Fundamental Analysis and Valuation Models, Industry Analysis, Financial Statement Analysis, Financial and Ratio Analysis

33.

First Come First Disserved

Journal of Investment Management, Vol. 6, No. 2, Second Quarter 2008
Posted: 15 May 2008
Joseph A. Cerniglia and Joshua Livnat
Aberdeen Asset Management Inc. and New York University

Abstract:

Standardized unexpected earnings, drift, abnormal returns, timelines of earnings, industry information transfer

34.

Double Surprise into Higher Future Returns

Financial Analysts Journal, Vol. 63, No. 4, pp. 63-71, July/August 2007
Posted: 26 Jul 2007
Alina Lerman, Joshua Livnat and Richard R. Mendenhall
Yale School of Management, New York University and University of Notre Dame - Department of Finance

Abstract:

Equity Investments, Research Sources, Fundamental Analysis and Valuation Models, Portfolio Management: Equity Strategies

35.

Post-Earnings-Announcement Drift: The Role of Revenue Surprises

Financial Analysts Journal, Vol. 62, No. 2, pp. 22-34, April 2006
Posted: 22 May 2006
Narasimhan Jegadeesh and Joshua Livnat
Emory University - Department of Finance and New York University

Abstract:

Equity Investments, Fundamental Analysis and Valuation Models, Portfolio Management, Equity Strategies

36.

The Information Content of SEC Filings and Information Environment: A Variance Decomposition Analysis

Accounting Review, Forthcoming
Posted: 26 Mar 2006
Jeffrey L. Callen, Joshua Livnat and Dan Segal
University of Toronto - Rotman School of Management, New York University and Interdisciplinary Center (IDC) Herzliyah

Abstract:

SEC Filings, Value Relevance, Variance Decomposition

37.

The Economic Value of the R&D Intangible Asset

European Accounting Review, Vol. 12, No. 4, 2003
Posted: 04 Nov 2003
Universidad de Malaga, University of Seville and New York University

Abstract:

R&D, Valuation Models, Intangibles, Fundamental Analysis

38.

Internet Traffic and Portfolio Returns

Financial Analysts Journal, Vol. 57, No. 3, May/June 2001
Posted: 31 Jul 2001
Baruch Lev, Ron Lazer and Joshua Livnat
New York University - Stern School of Business, New York University (NYU) - Department of Accounting and New York University

Abstract:

39.

A Free Cash Flow Investment Anomaly

As published in Journal of Accounting, Auditing & Finance, Vol 15, No 1 (New Series, Winter 2000
Posted: 17 Sep 2000
Kenneth S. Hackel, Joshua Livnat and Atul Rai
Free Cash Flow, Inc., New York University and Wichita State University

Abstract:

40.

Capital Expenditures: Value-Relevance and Fourth-Quarter Effects

JOURNAL OF FINANCIAL STATEMENT ANALYSIS, Vol 1, No 3, Spring 1996
Posted: 05 Jul 1998
Jeffrey L. Callen, Joshua Livnat and Stephen G. Ryan
University of Toronto - Rotman School of Management, New York University and New York University (NYU) - Leonard N. Stern School of Business

Abstract:

41.

Modeling Dividends, Earnings, and Book Value Equity: An Empirical Investigation of the Ohlson Valuation Dynamics

REVIEW OF ACCOUNTING STUDIES, Vol 1, No. 3, 1997
Posted: 20 Dec 1996
Sasson Bar-Yosef, Jeffrey L. Callen and Joshua Livnat
Hebrew University, University of Toronto - Rotman School of Management and New York University

Abstract: