What question did this study set out to answer?

To comment on the effects of replacement cost accounting disclosures on investor reactions and transaction volumes.

The Disclosure of Replacement Cost Accounting Data and Its Effect on Transaction Volumes: A Comment.

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Comment highlights issues in RC disclosure impact on transaction volumes among large firms, suggesting nuances in investor response.

To comment on the effects of replacement cost accounting disclosures on investor reactions and transaction volumes.
Analysis of the existing literature on replacement cost disclosures.
Discussion on the challenges of comparing firms that disclose vs. those that do not.
Examination of Ro's matched pair design and its limitations due to firm size.
Identified challenges in measuring the impact of RC disclosures due to lack of a proper control group.
Highlighted that investor demand for RC data may vary with firm size and market factors.

Robert Freeman (1981) studied this question.

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