ACCT7324 - Capital Markets Research in Accounting: Asset Pricing Topics and Information Intermediaries

ACCT 7324 Capital Markets Research in Accounting: Asset Pricing Topics and Information Intermediaries (3 semester credit hours) The first half of the course focuses on asset pricing in accounting research, including the relation between earnings and asset prices and the role information intermediaries play in capital markets. We begin the course by examining traditional studies in accounting on the association between firm earnings and firm value. We examine the fundamental relations as well as the different factors that influence this association. We proceed to examine more recent studies in capital markets focusing on aggregate earnings and the relation between earnings and systematic risk. The second half of the course focuses on important information intermediaries in the capital market, including analysts, data providers, news media, and social media. We examine how these intermediaries affect firm behavior and investor information set through monitoring, discovering, disseminating, or interpreting corporate information. We also survey recent papers examining the determinants and implications of corporate (internal and external) information environment. May be repeated for credit as topics vary (9 semester credit hours maximum). Instructor Consent Required. (3-0) T