Henock Louis

Pennsylvania State University - Smeal College of Business

Professor

University Park, PA 16802-3306

United States

SCHOLARLY PAPERS

38

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19,400

CITATIONS
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in Total Papers Citations

233

Scholarly Papers (38)

1.

Conservatism, Analyst Ability, and Forecast Error: Evidence on Financial Statement Users' Ability to Account for Conservatism

Number of pages: 48 Posted: 23 Nov 2007 Last Revised: 23 Oct 2014
Henock Louis, Thomas Z. Lys and Amy X. Sun
Pennsylvania State University - Smeal College of Business, Northwestern University - Kellogg School of Management and University of Houston
Downloads 1,846 (4,977)
Citation 6

Abstract:

Accounting conservatism, analyst forecast error

2.
Downloads 1,648 ( 7,968)
Citation 5

Value of Cash Holdings and Accounting Conservatism

AAA 2010 Financial Accounting and Reporting Section (FARS) Paper
Number of pages: 40 Posted: 11 Jun 2009 Last Revised: 25 Aug 2011
Henock Louis, Amy X. Sun and Oktay Urcan
Pennsylvania State University - Smeal College of Business, University of Houston and University of Illinois at Urbana-Champaign
Downloads 1,648 (7,808)
Citation 5

Abstract:

Cash holdings, Accounting conservatism, Agency costs

Value of Cash Holdings and Accounting Conservatism

Contemporary Accounting Research, Forthcoming
Posted: 23 Aug 2011 Last Revised: 25 Aug 2015
Henock Louis, Amy X. Sun and Oktay Urcan
Pennsylvania State University - Smeal College of Business, University of Houston and University of Illinois at Urbana-Champaign

Abstract:

Cash holdings, Accounting conservatism, Agency costs

Earnings Management and Firm Performance Following Open-Market Repurchases

Number of pages: 59 Posted: 10 Nov 2006
Guojin Gong, Henock Louis and Amy X. Sun
Penn State University - Smeal College of Business, Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 1,584 (8,300)
Citation 52

Abstract:

Share repurchase, Earnings management, Operating performance, Stock performance

Earnings Management and Firm Performance Following Open-Market Repurchases

Journal of Finance, Forthcoming
Posted: 14 Feb 2007
Guojin Gong, Henock Louis and Amy X. Sun
Penn State University - Smeal College of Business, Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Share repurchase, Earnings management, Operating performance, Stock performance

Earnings Management and the Market Performance of Acquiring Firms

Number of pages: 45 Posted: 22 Nov 2002
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 1,547 (8,650)
Citation 65

Abstract:

earnings management, merger, market efficiency, rational expectation, analysts' forecasts, long-term performance

Earnings Management and the Market Performance of Acquiring Firms

Journal of Financial Economics, Forthcoming
Posted: 04 Dec 2003
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

earnings management, merger, analyst forecast, market efficiency, rational expectations, long-term performance, accruals

Earnings Management and the Post-Earnings Announcement Drift

Number of pages: 54 Posted: 10 Jan 2008 Last Revised: 13 Mar 2011
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 1,461 (9,484)
Citation 3

Abstract:

Market anomalies, post-earnings-announcement drift, (abnormal) accrual anomaly, earnings management, earnings smoothing

Earnings management and the Post-Earnings Announcement Drift

Financial Management, Forthcoming
Posted: 19 Nov 2010 Last Revised: 01 Dec 2010
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Market anomalies, post-earnings-announcement drift, (abnormal) accrual anomaly, earnings management, earnings smoothing

Do Managers Credibly Use Accruals to Signal Private Information? Evidence from the Pricing of Discretionary Accruals Around Stock Splits

Number of pages: 36 Posted: 11 Nov 2003
Henock Louis and Dahlia Robinson
Pennsylvania State University - Smeal College of Business and Arizona State University - School of Accountancy
Downloads 905 (20,004)
Citation 32

Abstract:

Stock split, earnings management, signaling, market efficiency, income smoothing

Do Managers Credibly Use Accruals to Signal Private Information? Evidence from the Pricing of Discretionary Accruals Around Stock Splits

Journal of Accounting & Economics, Forthcoming
Posted: 14 Jul 2004
Henock Louis and Dahlia Robinson
Pennsylvania State University - Smeal College of Business and Arizona State University - School of Accountancy

Abstract:

Discretionary accruals, Earnings management, Stock split, Signaling

7.

Acquirers' Abnormal Returns, Audit Firm Size, and the Small Auditor Clientele Effect

Number of pages: 40 Posted: 12 Jan 2004
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 740 (25,584)
Citation 1

Abstract:

Auditing, merger, audit quality, auditor size, auditor clientele, private target, Sarbanes-Oxley

Managers' and Investors' Responses to Media Exposure of Board Ineffectiveness

Number of pages: 50 Posted: 06 May 2005
Henock Louis, Jennifer R. Joe and Dahlia Robinson
Pennsylvania State University - Smeal College of Business, University of Delaware - Accounting & MIS and Arizona State University - School of Accountancy
Downloads 715 (28,213)
Citation 13

Abstract:

corporate governance, investor trading behavior, media, public exposure

Managers' and Investors' Responses to Media Exposure of Board Ineffectiveness

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 19 Sep 2007
Jennifer R. Joe, Henock Louis and Dahlia Robinson
University of Delaware - Accounting & MIS, Pennsylvania State University - Smeal College of Business and Arizona State University - School of Accountancy

Abstract:

Media, Public exposure, Board effectiveness, Corporate governance, Behavioral economics, Individual and institutional investor trading

9.

The Causes of Post-Merger Underperformance: Evidence from Successful and Unsuccessful Bidders

Number of pages: 27 Posted: 11 Sep 2002
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 645 (30,414)
Citation 3

Abstract:

merger, book-to-market ratio, failed bid, information asymmetry, performance extrapolation, earnings mis-pricing

The Value Relevance of the Foreign Translation Adjustment

Number of pages: 41 Posted: 28 Oct 2002
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 622 (34,138)
Citation 9

Abstract:

comprehensive income, foreign translation adjustment, international accounting, value relevance

The Value Relevance of the Foreign Translation Adjustment

Accounting Review, October 2003
Posted: 24 Apr 2003
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

comprehensive income, foreign translation adjustment, foreign exchange, international accounting, value relevance, multinational firms

An Integrated Analysis of the Association between Accrual Disclosure and the Abnormal Accrual Anomaly

Number of pages: 51 Posted: 12 Dec 2005
Pennsylvania State University - Smeal College of Business, Arizona State University - School of Accountancy and Florida International University
Downloads 618 (34,373)
Citation 11

Abstract:

Discretionary accruals, ERC, SEC filing, disclosure, mispricing

An Integrated Analysis of the Association Between Accrual Disclosure and the Abnormal Accrual Anomaly

Review of Accounting Studies, Forthcoming
Posted: 24 Dec 2006
Pennsylvania State University - Smeal College of Business, Arizona State University - School of Accountancy and Florida International University

Abstract:

Discretionary accruals, ERC, SEC filing, disclosure, mispricing

12.

Insider Selling, Earnings Management, and the 1990s Bubble

Number of pages: 57 Posted: 30 Jun 2006 Last Revised: 29 Jun 2014
Steven J. Huddart and Henock Louis
Pennsylvania State University, University Park - Department of Accounting and Pennsylvania State University - Smeal College of Business
Downloads 587 (35,028)

Abstract:

equity incentives, insider trading, financial reporting, smoothing

Financial Reporting and Conflicting Managerial Incentives: The Case of Management Buyouts

Number of pages: 36 Posted: 17 Jan 2008 Last Revised: 07 Apr 2008
Paul E. Fischer and Henock Louis
University of Pennsylvania - Accounting Department and Pennsylvania State University - Smeal College of Business
Downloads 554 (39,743)
Citation 3

Abstract:

MBO, earnings management, reporting incentives, debt financing

Financial Reporting and Conflicting Managerial Incentives: The Case of Management Buyouts

Management Science, Forthcoming
Posted: 02 Apr 2008
Paul E. Fischer and Henock Louis
University of Pennsylvania - Accounting Department and Pennsylvania State University - Smeal College of Business

Abstract:

MBO, earnings management, reporting incentives, debt financing

Investor Inattention and the Market Reaction to Merger Announcements

Number of pages: 33 Posted: 10 May 2010 Last Revised: 12 Nov 2012
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 511 (44,078)
Citation 3

Abstract:

Investor inattention, merger announcement, market efficiency

Investor Inattention and the Market Reaction to Merger Announcements

Management Science, Forthcoming
Posted: 16 May 2010
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Investor inattention, Merger, Market efficiency

15.

The Effect of IFRS on Cross-Border Acquisitions

Number of pages: 44 Posted: 21 Oct 2012 Last Revised: 04 Jun 2015
Henock Louis and Oktay Urcan
Pennsylvania State University - Smeal College of Business and University of Illinois at Urbana-Champaign
Downloads 470 (26,613)
Citation 1

Abstract:

IFRS, foreign direct investments, M&A, cross-border acquisitions

Earnings Management, Lawsuits, and Stock-for-Stock Acquirers' Market Performance

Number of pages: 47 Posted: 18 Jan 2008 Last Revised: 14 Apr 2008
Guojin Gong, Henock Louis and Amy X. Sun
Penn State University - Smeal College of Business, Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 440 (53,306)
Citation 17

Abstract:

Stock-for-stock merger, earnings management, lawsuit, market efficiency

Earnings Management, Lawsuits, and Stock-for-Stock Acquirers' Market Performance

Journal of Accounting & Economics (JAE), Forthcoming
Posted: 15 Feb 2008 Last Revised: 20 Apr 2008
Guojin Gong, Henock Louis and Amy X. Sun
Penn State University - Smeal College of Business, Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Stock-for-stock merger, earnings management, lawsuit, market efficiency

Voluntary Disclosure to Influence Investor Reactions to Merger Announcements: An Examination of Conference Calls

Robert H. Smith School Research Paper No. RHS RHS-06-134
Number of pages: 52 Posted: 15 Jul 2010 Last Revised: 27 Jan 2011
Michael D. Kimbrough and Henock Louis
University of Maryland - Robert H. Smith School of Business and Pennsylvania State University - Smeal College of Business
Downloads 423 (55,932)
Citation 3

Abstract:

Conference calls, voluntary disclosure, mergers

Voluntary Disclosure to Influence Investor Reactions to Merger Announcements: An Examination of Conference Calls

Accounting Review, Forthcoming
Posted: 27 Aug 2010
Michael D. Kimbrough and Henock Louis
University of Maryland - Robert H. Smith School of Business and Pennsylvania State University - Smeal College of Business

Abstract:

Agency Conflicts, Dividend Payout, and the Direct Benefits of Conservative Financial Reporting to Equity-Holders

Number of pages: 45 Posted: 25 Nov 2013 Last Revised: 18 Dec 2013
Henock Louis and Oktay Urcan
Pennsylvania State University - Smeal College of Business and University of Illinois at Urbana-Champaign
Downloads 389 (61,942)
Citation 1

Abstract:

Payout; Accounting conservatism; Agency costs

Agency Conflicts, Dividend Payout, and the Direct Benefits of Conservative Financial Reporting to Equity-Holders

Contemporary Accounting Research, Forthcoming
Posted: 21 Dec 2013
Henock Louis and Oktay Urcan
Pennsylvania State University - Smeal College of Business and University of Illinois at Urbana-Champaign

Abstract:

Payout; Accounting conservatism; Agency costs

19.

The Effects of the Extant Clauses Limiting Auditor Liability on Audit Fees, Auditor Conservatism, and Overall Reporting Quality

Number of pages: 61 Posted: 23 Jan 2015 Last Revised: 28 Mar 2017
Pennsylvania State University - Smeal College of Business, University of South Florida, University of Tampa and University of Houston
Downloads 333 (24,604)

Abstract:

Auditor liability; liability limiting agreement; audit quality; reporting quality

Insider Trading After Repurchase Tender Offer Announcements: Timing versus Informed Trading

Number of pages: 44 Posted: 05 Sep 2008 Last Revised: 07 Sep 2008
Henock Louis, Amy X. Sun and Hal D. White
Pennsylvania State University - Smeal College of Business, University of Houston and Penn State University
Downloads 330 (75,204)
Citation 4

Abstract:

insider trading, repurchase

Insider Trading after Repurchase Tender Offer Announcements: Timing Versus Informed Trading

Financial Management, Forthcoming
Posted: 08 Sep 2008
Henock Louis, Amy X. Sun and Hal D. White
Pennsylvania State University - Smeal College of Business, University of Houston and Penn State University

Abstract:

insider trading, repurchase

Long-Term Growth in Housing Prices and Stock Returns

Number of pages: 62 Posted: 06 May 2009 Last Revised: 14 Jul 2011
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 297 (84,776)

Abstract:

Housing prices, Home bias, Stock mispricing, Trading strategy, Economic crisis

Long‐Term Growth in Housing Prices and Stock Returns

Real Estate Economics, Vol. 41, Issue 3, pp. 663-708, 2013
Number of pages: 46 Posted: 14 Sep 2013
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston
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Abstract:

Long-Term Growth in Housing Prices and Stock Returns

Real Estate Economics, Forthcoming
Posted: 10 Jul 2011
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Housing prices, Home bias, Stock mispricing, Trading strategy, Economic crisis

Do Analysts Sacrifice Forecast Accuracy for Informativeness?

Number of pages: 45 Posted: 29 May 2012 Last Revised: 17 Dec 2012
Henock Louis, Amy X. Sun and Oktay Urcan
Pennsylvania State University - Smeal College of Business, University of Houston and University of Illinois at Urbana-Champaign
Downloads 293 (86,170)
Citation 1

Abstract:

Analyst forecast informativeness, Forecast accuracy, Earnings management, Earnings pre-announcements

Do Analysts Sacrifice Forecast Accuracy for Informativeness?

Management Science, Forthcoming
Posted: 16 Sep 2012
Henock Louis, Amy X. Sun and Oktay Urcan
Pennsylvania State University - Smeal College of Business, University of Houston and University of Illinois at Urbana-Champaign

Abstract:

Analyst forecast informativeness, Forecast accuracy, Earnings management, Management forecasts

Abnormal Accruals and Managerial Intent: Evidence from the Timing of Merger Announcements and Completions

Number of pages: 51 Posted: 18 Jan 2014 Last Revised: 20 Dec 2014
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston
Downloads 262 (97,316)

Abstract:

Abnormal accruals, M&A, Earnings management, Managerial opportunism, Investor inattention, Long-run returns, Friday effect

Abnormal Accruals and Managerial Intent: Evidence from the Timing of Merger Announcements and Completions

Contemporary Accounting Research, Forthcoming
Posted: 18 Dec 2014
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

M&A, Abnormal accruals, Real earnings management, Managerial opportunism, Investor inattention, Long-run returns, Friday effect

24.

Minority Lending and the Subprime Foreclosure Crisis

Number of pages: 42 Posted: 09 Sep 2009 Last Revised: 12 Sep 2013
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 224 (111,008)

Abstract:

regulations, subprime crisis, foreclosure, minority lending, discrimination, market efficiency

Are Stock-for-Stock Acquirers of Unlisted Targets Really Less Overvalued?

Number of pages: 50 Posted: 07 Jul 2011 Last Revised: 03 Dec 2012
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 191 (133,673)

Abstract:

M&A, Acquirer performance, Overvaluation, Target listing status

Are Stock-for-Stock Acquirers of Unlisted Targets Really Less Overvalued?

Financial Management (Forthcoming)
Posted: 02 Jul 2012 Last Revised: 06 Jul 2012
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

M&A, Acquirer performance, Overvaluation, Target listing status, Insider trading

26.

Minority Borrowers and the Subprime Foreclosure Crisis: Unintended Consequences of Regulations vs. Unfair Lending

Number of pages: 42 Posted: 13 Aug 2012 Last Revised: 13 Sep 2013
Henock Louis
Pennsylvania State University - Smeal College of Business
Downloads 147 (152,768)

Abstract:

Minority lending, Regulations, Subprime crisis, Discrimination

27.

Employment Protection Legislation, Investment, and Firm Performance

Number of pages: 50 Posted: 29 Dec 2016 Last Revised: 08 Jun 2017
Henock Louis and Oktay Urcan
Pennsylvania State University - Smeal College of Business and University of Illinois at Urbana-Champaign
Downloads 138 (177,503)

Abstract:

Employment protection, Capital Expenditures, Operating performance, Abnormal stock returns

28.

Stock Liquidity and Corporate Tax Avoidance

Review of Accounting Studies, Forthcoming
Number of pages: 50 Posted: 06 Sep 2013 Last Revised: 04 Oct 2017
Yangyang Chen, Rui Ge, Henock Louis and Leon Zolotoy
Hong Kong Polytechnic University - Faculty of Business, Hong Kong Polytechnic University, Pennsylvania State University - Smeal College of Business and Melbourne Business School
Downloads 132 (238,813)

Abstract:

Stock Liquidity, Tax Avoidance, Agency Conflicts

29.

Earnings Announcements and Option Returns

Journal of Empirical Finance, Forthcoming
Number of pages: 43 Posted: 16 Dec 2016
Sung Gon Chung and Henock Louis
Wayne State University and Pennsylvania State University - Smeal College of Business
Downloads 0 (219,929)

Abstract:

Earnings Announcement; Option Pricing; Stock Return Volatility

30.

Insider Trading, Stock Return Volatility, and the Option Market's Pricing of the Information Content of Insider Trading

Journal of Banking and Finance, Forthcoming
Number of pages: 35 Posted: 16 Dec 2016
Chin-Han Chiang, Sung Gon Chung and Henock Louis
Singapore Management University - Lee Kong Chian School of Business, Wayne State University and Pennsylvania State University - Smeal College of Business
Downloads 0 (242,300)

Abstract:

31.

Perceived Audit Quality and Firm Value: Evidence from Investors’ Reaction to the First Disclosure of Limiting Liability Agreements between Auditors and Their Publicly Traded Clients

Posted: 09 Jun 2014 Last Revised: 10 Sep 2015
Henock Louis, Dahlia Robinson and Amy X. Sun
Pennsylvania State University - Smeal College of Business, University of South Florida and University of Houston

Abstract:

Auditor liability reform; limited liability agreement; perception of audit quality

32.

Growth in Housing Prices and Long-Term Abnormal Stock Returns

Real Estate Economics, Forthcoming
Posted: 22 Feb 2012
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

Housing prices, Home bias, Stock mispricing, Trading strategy

33.

Mitigating the Negative Market Reaction Associated with Acquisition Announcements by Cash-Rich Firms

Posted: 15 Feb 2008 Last Revised: 03 Dec 2012
Henock Louis and Amy X. Sun
Pennsylvania State University - Smeal College of Business and University of Houston

Abstract:

excess cash holdings, mixed financing, acquisition, substitution hypothesis, signaling

34.

Do Managers Intentionally Use Repurchase Tender Offers to Signal Private Information? Evidence from Firm Financial Reporting Behavior

Journal of Financial Economics, Forthcoming
Posted: 07 Nov 2006
Henock Louis and Hal D. White
Pennsylvania State University - Smeal College of Business and Penn State University

Abstract:

Repurchase tender offer, Signaling, Managerial opportunism, Financial reporting

35.

Interest Rate Parity and the Behavior of the Bid-Ask Spread

Journal of Financial Research, Vol. 22, No. 2, p. 189, Summer 1999
Posted: 07 Nov 2006 Last Revised: 10 May 2010
Pennsylvania State University - Smeal College of Business, University of North Carolina (UNC) at Charlotte - Department of Finance & Business Law and University of Wisconsin - Whitewater

Abstract:

Interest rate parity, bid-ask spread, Foreign exchange

36.

Acquirers' Abnormal Returns and the Non-Big 4 Auditor Clientele Effect

Journal of Accounting and Economics, Forthcoming
Posted: 14 Mar 2005
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

Merger, Auditor size, Auditor clientele, Non-audit services, Private target

37.

The Cost of Using Bank Mergers as Defensive Mechanisms against Takeover Threats

Journal of Business, Vol. 77, pp. 295-310, 2004
Posted: 03 Oct 2002
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

Bank, takeover threat, merger, premium, defensive merger

38.

The Economic Consequences of Firms' Voluntary Submission to Greater External Scrutiny

Posted: 16 Sep 2002
Henock Louis
Pennsylvania State University - Smeal College of Business

Abstract:

merger, auditing, market efficiency, information asymmetry, disclosure, cost-of-capital, auditor switch, audit quality