John H. Evans III, Optimal Contracts with Costly Conditional Auditing, Journal of Accounting Research, Vol. 18, Studies on Economic Consequences of Financial and Managerial Accounting: Effects on Corporate Incentives and Decisions (1980), pp. 108-128

Eric H. Sorensen, An Analysis of the Relationship Between Underwriter Spread and the Pricing of Municipal Bonds, The Journal of Financial and Quantitative Analysis, Vol. 15, No. 2 (Jun., 1980), pp. 435-447

Richard H. Bernhard, A Simplification and an Extension of the Bernhard-deFARO Sufficient Condition for a Unique Non-Negative Internal Rate of Return, The Journal of Financial and Quantitative Analysis, Vol. 15, No. 1 (Mar., 1980), pp. 201-209

Bank regulators tend to disagree with the idea that markets can play a role in bank regulation. The markets for bank securities are viewed by regulators as inefficient and lacking the necessary information to demand sufficient risk premiums on bank obligations to affect bank management decisions. On the other hand, bankers who have an active market for their securities tend to place faith in market assessments to determine the cost of management policies; therefore, they tend to think that the market plays an important role in “regulating” bank management decisions. The regulators are perhaps correct about the markets for small and medium–sized banks, but for those banks which have an active market for their securities, do investors adjust rates of return for the presence of increased potential of bankruptcy? If so, when does the adjustment take place?

Behavioral accounting, Student representativeness

Auditing, Internal control system, Judgment variance, Experience

Journal Article Rational Expectations and the Non-neutrality of Systematic Monetary Policy Get access David K. H. Begg David K. H. Begg Oxford University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 47, Issue 2, January 1980, Pages 293–303, https://doi.org/10.2307/2296993 Published: 01 January 1980 Article history Received: 01 December 1977 Accepted: 01 November 1978 Published: 01 January 1980

Voluntary Disclosure, Earnings forecasts, Selective dissemination, Informational content

The question of stock market efficiency has received considerable play in the financial press in recent years and understandably so. Not only is this a topic of interest to national policymakers charged with monitoring and promoting market efficiency, but answers to this question have rather important implications for the management of market participants' portfolios. Our interest in this subject focuses on a subsegment of the larger question of market efficiency, in particular on so-called technical theories of stock market behavior.