The DOI matches its Crossref record; 48 of the 48 references it cites were found in a registry or an index.
The Contagion Effects of Accounting Restatements
Open accessAbstract
We predict and find that accounting restatements that adversely affect shareholder wealth at the restating firm also induce share price declines among non-restating firms in the same industry. These share price declines are unrelated to changes in analysts' earnings forecasts, but instead seem to reflect investors' accounting quality concerns. Peer firms with high industry-adjusted accruals experience a more pronounced share price decline than do low-accrual firms. This accounting contagion effect is concentrated among revenue restatements by relatively large firms in the industry. We also find that investors impose a larger penalty on the stock prices of peer firms with high earnings and high accruals when peer and restating firms use the same external auditor. Our results are consistent with the notion that some accounting restatements cause investors to reassess the financial statement information previously released by non-restating firms.
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Cites
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Cited by
LEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
Peer Effects of Corporate Social Responsibility
Cao, J., Liang, H., & Zhan, X. (2019) · Management Science · doi:10.1287/mnsc.2018.3100 · Cited by 573
Detecting Accounting Fraud in Publicly Traded U.S. Firms Using a Machine Learning Approach
BAO, Y., KE, B., LI, B., YU, Y. J., & ZHANG, J. (2020) · Journal of Accounting Research · doi:10.1111/1475-679x.12292 · Cited by 499
SOX after Ten Years: A Multidisciplinary Review
Coates, J. C., & Srinivasan, S. (2014) · Accounting Horizons · doi:10.2308/acch-50759 · Cited by 228
The BP Oil Spill: Shareholder Wealth Effects and Environmental Disclosures
Heflin, F., & Wallace, D. (2017) · Journal of Business Finance & Accounting · doi:10.1111/jbfa.12244 · Cited by 116
Metadata
- Authors
- Gleason, C. A., Jenkins, N. T., & Johnson, W. B.
- Venue
- The Accounting Review
- Publisher
- American Accounting Association
- Published
- 2008-01-01
- Volume
- 83
- Issue
- 1
- Pages
- 83-110
- ISSN
- 0001-4826 (ISSN-L)
- 1558-7967
- OpenAlex
- W3122110797
- Cited by
- 499
- References
- 48
- FWCI
- 61.43
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
