Commemorating the 50‐Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years
Journal of Accounting Research, Volume 57, Issue 5, December 2019
Posted: 9 Mar 2020
Date Written: December 1, 2019
We commemorate the 50th anniversary of Ball and Brown by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown researchers took as they sought to build on the foundation laid by Ball and Brown to create a body of research on the usefulness, timeliness, and other properties of accounting numbers. We discuss how those paths often link back to the groundwork laid and questions originally posed in Ball and Brown.
Keywords: Ball and Brown; earnings; earnings-return relation; earnings usefulness; earnings timeliness; asymmetric timeliness; conservatism; association study; event study; information content; value relevance; positive economics; efficient markets hypothesis; market efficiency
JEL Classification: G10; G14; M40; M41
Suggested Citation: Suggested Citation