Thomas A. Buchman, John A. Tracy, Obtaining Responses to Sensitive Questions: Conventional Questionnaire versus Randomized Response Technique, Journal of Accounting Research, Vol. 20, No. 1 (Spring, 1982), pp. 263-271

Segment reporting, Simulated mergers, Consolidated earnings, Aggregated subentity data

Internal control, Auditing, Uncertainty, Evidential integration model

Audit opinion, Abnormal returns, Uncertainty, Subject to opinion

This paper examines the relation between the variance of equity returns and several explanatory variables. It is found that equity variances have a strong positive association with both financial leverage and, contrary to the predictions of the options literature, interest rates. To a substantial degree, the negative elasticity of variance with respect to value of equity that is part of market folklore is found to be attributable to financial leverage. A maximum likehood estimator is developed for this elasticity that is substantially more efficient than extant estimation procedures.

James A. Brickley, Discussion: Empirical Evidence on Dividends as a Signal of Firm Value, The Journal of Financial and Quantitative Analysis, Vol. 17, No. 4, Proceedings of the 17th Annual Conference of the Western Finance Association, June 16-19, 1982, Portland, Oregon (Nov., 1982), pp. 501-502

An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.

Auditing, Statistical auditing, Jackknifed ratio estimation, Accounting population