The Accounting Review Vol. 62 No. 3 1987
Understanding Accounting Changes in an Efficient Market - A Comment, Replication, and Re-Interpretation
Abstract
[This paper presents a replication and correction of a 1978 paper concerning the security market reaction to discretionary accounting changes (a switch to LIFO). The paper contains a flaw in the experimental design. Once the design is corrected, some of the conclusions reached in the original paper must be revised. However, the corrected results do not negate the finding that the security market reaction to a LIFO adoption is conditional on earnings.]
- Volume
- 62
- Issue
- 3
- Pages
- 589-596
- Sources
- bibtex:phds-export.bib