The research involved measuring the information content of qualified audit reports on published accounts. The market model was used to measure the abnormal returns associated with various "types" of qualification. It was found that some types of audit qualification had a significant impact on investment decisions while others had very little. There was found to be no relationship between the accounting firm qualifying the accounts and the abnormal returns. The findings suggest that more information on the nature of the audit qualifications should be given.

An experiment Was conducted where practicing financial analysts provided risk and return judgments on 30 equity securities. The ability of financial analysts to subjectively express the relative emphasis they place on the available cues when generating their judgment evaluations was assessed by three alternative measurement methods. The results indicate the analysts exhibited a relatively high degree of self-insight since their subjective indications of cue importance were consistent with the models and outputs of their judgment policies.

[An experiment was conducted where practicing financial analysts provided risk and return judgments on 30 equity securities. The ability of financial analysts to subjectively express the relative emphasis they place on the available cues when generating their judgment evaluations was assessed by three alternative measurement methods. The results indicate the analysts exhibited a relatively high degree of self-insight since their subjective indications of cue importance were consistent with the models and outputs of their judgment policies.]