Abstract Reviews the book "Auditing: An Integrated Approach," 3rd ed., by Alvin A. Arnes and James K. Loebbecke.

Abstract Reviews the book "Financial Reporting by Private Companies: Analysis and Diagnosis," by A. Rashad Abdel-Khalik.

Abstract Reviews the book "Cost Accounting," by Edward B. Deakin and Michael W. Maher.

Journal Article Reward Structures in a Planned Economy: Some Further Thoughts Get access Mo-Yin S. Tam Mo-Yin S. Tam University of Illinois at Chicago Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 100, Issue 1, February 1985, Pages 279–289, https://doi.org/10.2307/1885747 Published: 01 February 1985

This paper measures the effects on stock proces of corporate investments in 5% or more of another company's equity securities. Such investments initiate a process that may end with a takeover, targeted repurchase, takeover by a third party, or sale of the shares. The total valuation effect of the investment for acquiring and target firms includes returns at disclosure of the investment position, the outcome announcement, and related intervening events. For example, the positive return for target firms at initial disclosure of the investment more than offsets the negative return at a targeted repurchase.

We examine the utility of the statistical factor model of the process generating stock returns in the context of event studies. For a variety of estimation procedures and experimental designs we find limited value added relative to the use of a simple market model. We would attribute this finding to misspecification of the statistical factor analysis model, and suspect that there exist more robust procedures for estimating the factor structure of stock returns.

Informational Content, Interim expenses, Interim Sales, Interim Earnings

Abstract Reviews the book "Theory Z: How American Business Can Meet the Japanese Challenge," by William G. Ouchi.