Abstract The purpose of this article is to note some of the problems the authors faced in their recently completed study of financial reporting for diversified companies. This was their first substantial experience with empirical research and in the completion of that experience they met a number of problems which were new to them. As empirical studies in accountancy are somewhat rare, they have the impression that perhaps others will find these problems novel also and may find some benefit in an explanation of their solutions to them. Thus they seek to share their research experience and hope that others will do the same. Combining a controversial subject, a matter of such sensitivity as the extent of external financial reporting, and a wide participation on the part of financial executives and financial analysts in answering questionnaires, assured them of substantial active interest in the progress and conclusions of this study. Another term for this is "pressure," and they felt this on a number of occasions. However, there is no defense against pressures quite as effective as confidence that one's own position is soundly supported by adequate evidence, the kind of evidence that `an empirical study supplies. Finally, and this may be more closely related to the topic of investigation than to the nature of the research itself, this study included far more variables than they were accustomed to working with at one time. They do not, in any sense, intend to leave the impression that they feel they have the final answers to such problems, rather their thought is that free exchange of experiences and opinions may help each of them to better undertake future studies.
Mautz et al. (Tue,) studied this question.