Open AccessThe Effect of the SEC’s Accelerated Filing Deadline on Earnings Timeliness
Author(s) -
Amy E. Ji
Publication year - 2015
Publication title -
international journal of economics and finance
Language(s) - English
Resource type - Journals
eISSN - 1916-9728
pISSN - 1916-971X
DOI - 10.5539/ijef.v7n12p59
Subject(s) - acceleration , earnings , period (music) , quality (philosophy) , computer science , business , econometrics , accounting , economics , physics , acoustics , classical mechanics , quantum mechanics
I examine whether the accelerated 10-K filing deadline affects earnings timeliness. The SEC’s acceleration of the filing deadline of Form 10-K took effect in 2003. In proposing a new rule, the SEC asserted that the usefulness of the 10-K would increase because of the improved timeliness of the report. On the other hand, opponents claimed that the quality and accuracy of the report could be impaired. I compare timeliness of pre-acceleration period to that of post-acceleration period. Overall, my findings provide little support for the SEC’s claim that the accelerated deadline would improve timeliness of periodic reports.