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

See all articles by S.P. Kothari

S.P. Kothari

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Charles E. Wasley

Simon School, University of Rochester

Date Written: December 1, 2019

Abstract

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

Kothari, S.P. and Wasley, Charles E., Commemorating the 50‐Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years (December 1, 2019). Journal of Accounting Research, Volume 57, Issue 5, December 2019, Available at SSRN: https://ssrn.com/abstract=3538366

S.P. Kothari

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E52-325
Cambridge, MA 02142
United States
617-253-0994 (Phone)
617-253-0603 (Fax)

Charles E. Wasley (Contact Author)

Simon School, University of Rochester ( email )

Rochester, NY 14627
United States
585-275-3362 (Phone)
585-442-6323 (Fax)

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