Audit Qualifications and Share Prices: Further Evidence
- 1 June 1984
- journal article
- research article
- Published by SAGE Publications in Australian Journal of Management
- Vol. 9 (1) , 37-52
- https://doi.org/10.1177/031289628400900103
Abstract
Employing a portfolio approach which controls directly for the sign (indirectly for the magnitude) of unexpected earnings, this study examines the stock market's reaction to qualified audit reports. There is no substantive evidence that qualifications affect equity prices in the month of their announcement. However, there is evidence that firms that receive certain types of qualification experience negative abnormal returns in the twelve months preceding this event.Keywords
This publication has 9 references indexed in Scilit:
- Qualified audit opinions and stock prices: Information content, announcement dates, and concurrent disclosuresJournal of Accounting and Economics, 1984
- On the Use of Naive Expectations of Earnings per Share as Experimental Benchmarks*Economic Record, 1982
- "Subject to" Audit Opinions and Abnormal Security Returns-Outcomes and AmbiguitiesJournal of Accounting Research, 1982
- Audit Qualifications and Share PricesAbacus, 1979
- The Association between Unsystematic Security Returns and the Magnitude of Earnings Forecast ErrorsJournal of Accounting Research, 1979
- The Time Series Behaviour of Corporate EarningsAustralian Journal of Management, 1978
- Risk, Information, and the Effects of Special Accounting Items on Capital Market EquilibriumJournal of Accounting Research, 1975
- Response of the Australian Accounting Profession to Company Failure in the 1960s1Abacus, 1971
- An Empirical Evaluation of Accounting Income NumbersJournal of Accounting Research, 1968