Commemorating the 50-Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years

• Main Authors: Kothari, S.P (Author), Wasley, C. (Author)
• Format: Article
• Language: English
• Published: Blackwell Publishing Ltd 2019
• Subjects: association study; asymmetric timeliness; Ball and Brown; conservatism; earnings; earnings timeliness; earnings usefulness; earnings-return relation; efficient markets hypothesis; event study; G10; G14; information content; M40; M41; market efficiency; positive economics; post–earnings-announcement drift; value relevance
• Online Access: View Fulltext in Publisher
• ISBN: 00218456 (ISSN)
• DOI: 10.1111/1475-679X.12287

We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown [1968] researchers took as they sought to build on the foundation laid by Ball and Brown [1968] 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 [1968]. © University of Chicago on behalf of the Accounting Research Center, 2019