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- Title
THE STATE OF INVESTMENT ANALYSIS IN 1927: ON THE EVE OF DESTRUCTION.
- Authors
Thompson, Joel E.
- Abstract
The purpose of financial reporting is to provide information to investors and creditors to help them make decisions about their involvement with an economic entity (Financial Accounting Standards Board, 2010). While this objective may now appear obvious, this was not always the case as illustrated in the late 1920s. Shown in this study based on an examination of books on investing from 1927, investors of that time wanted company information to help in their analyses, but it was not always forthcoming. Warnings by authors were not heeded and our country suffered the consequences. Subsequently, the Securities Acts of 1933 and 1934 were enacted to ameliorate the financial reporting system upon which our society depends. This study describes investment analysis in 1927 and its shortcomings, reminding us all of the importance of financial reporting.
- Subjects
EARNINGS trends; FINANCIAL performance; INVESTMENT advisors; INVESTMENT analysis; CORPORATE finance
- Publication
Journal of Business & Behavioral Sciences, 2017, Vol 29, Issue 1, p134
- ISSN
1099-5374
- Publication type
Article