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March 15, 2026The Accounting Review

Cost of Information and Security Prices: Market Association Tests for Accounting Policy Decisions.

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Authors

RMRobert G. MayGSGary Sunden

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Overview

Empirical research shows that different disclosure policies may affect security prices, suggesting valuation implications.

Key Points

  • This article aims to explore how accounting policy decisions can influence security prices and market associations.
  • Discussion of evidence from empirical research on accounting policies
  • Analysis of equilibrium prices and disclosure systems
  • Examination of costs related to information production and analysis.
  • Different accounting measurement systems can lead to varying equilibrium prices.
  • Costs of producing accounting information may exceed benefits derived from disclosure policies.
  • The association between accounting numbers and market prices is complex and nuanced.

Cite This Study

May et al. (1973) studied this question.

synapsesocial.com/papers/69b5ff4f83145bc643d1b8dchttps://doi.org/10.2308/tar-4483419
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Cost of Information and Security Prices: A Comment.1974
  2. 2Cost of Information and Security Prices: A Reply.1974
  3. 3SECURITY ANALYSTS AND THE PRICE LEVEL.1955
  4. 4Implications of Security Price Research for Accounting: A Reply to Bierman.1974
  5. 5Accounting Reports, Policy Interventions and the Behavior of Securities Returns.1976