Goodwin, John and Atılgan, Yiğit and Şimşir, Şerif Aziz and Ahmed, Kamran (2020) Investor reaction to accounting misstatements under IFRS: Australian evidence. Accounting and Finance, 60 (3). pp. 2467-2512. ISSN 0810-5391 (Print) 1467-629X (Online)
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Official URL: https://dx.doi.org/10.1111/acfi.12395
Abstract
We examine the investor reaction to misstatement news for Australian listed firms from 2006 to 2013. We find 4.1 percent of firm-years have a misstatement and 79 percent of misstatements are disclosed initially only in the periodic filings (stealth misstatements). We find no investor reaction for the average misstatement, reactions of between −2.3 percent and −2.8 percent (−1.5 and −1.7 percent) for misstatements that reduce prior-period earnings or equity (affect revenue) and reactions of between −1.3 and −2.7 percent for non-stealth misstatements. Investor reactions are more negative for non-stealth misstatements that reduce prior-period earnings or equity than for stealth misstatements.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Investor reaction; Misstatement news; Stealth misstatements |
| Divisions: | Sabancı Business School |
| Depositing User: | Yiğit Atılgan |
| Date Deposited: | 31 Jul 2023 11:19 |
| Last Modified: | 31 Jul 2023 11:19 |
| URI: | https://research.sabanciuniv.edu/id/eprint/46605 |
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Investor reaction to accounting misstatements under IFRS: Australian evidence. (deposited 07 Aug 2018 22:18)
- Investor reaction to accounting misstatements under IFRS: Australian evidence. (deposited 31 Jul 2023 11:19) [Currently Displayed]
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