Journal of Accounting and Economics Vol. 6 No. 2 1984
Accounting for retail land sales
Abstract
This study assesses the stock market's reaction to a series of events leading up to a mandated change in accounting for retail land sales. Evidence is found to support the conclusion that the market reacted to some of these events in a manner consistent with the effects of the accounting change on debt annagement contracts. A distinctive aspect of the analysis is the efficient use of security returns data to detect market reactions and to derive empirical distributions of test statistics employed. The analysis is extended by a model for grouping regression equations known as seemingly unrelated regressions. However, the gains from this extension are modest.
- DOI
- 10.1016/0165-4101(84)90009-0
- Volume
- 6
- Issue
- 2
- Pages
- 101-132
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref