Randomized trial examines SEC sanctions on auditors affecting stock returns and earnings of client firms, indicating significant financial repercussions.
Examines effects of Securities and Exchange Commission (SEC) sanctions of auditors on earnings response coefficients of client firms. Comparison of stock returns associated with earnings information of clients firms before and after sanction; Sanction impact on security prices of client firms.
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Keith A. Moreland (1995) studied this question.
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