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- Title
The Impact of Accounting Regulation on the Stock Market: The Case of Oil and Gas Companies--Some Additional Results.
- Authors
Jain, Prem C.
- Abstract
ABSTRACT: After studying the market effect of the release of the exposure draft by the FASB on oil and gas accounting, Lev [1979] concluded that the stock prices of "full-cost" companies, on average, were adversely affected. Smith and Dyckman [1981], however, have noted several weaknesses in Lev's analysis. This paper re-examines Lev's sample using alternative statistical tests and specification checks. The results lend support to Lev's original findings.
- Subjects
ACCOUNTING standards; STOCK prices; EXPOSURE drafts; GOVERNMENT accounting; PETROLEUM industry; FASB pronouncement : Statement 143; PRICES of securities
- Publication
Accounting Review, 1983, Vol 58, Issue 3, p633
- ISSN
0001-4826
- Publication type
Article