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Research on the impact on the market of the compulsory change in the accounting policies of enterprises
By Liu Yunzhong
Date: 2001/09/29
Abstract:
The findings of the research are: (1) the different events altered by the same change of accounting policy have different bits of information, and the event announced ex anti has more considerable effect on the expectation of the investors; (2) an index stronger than the debt-asset ratio shall have to be used to test the hypothesis of the agent cost; (3) the result produced by changing the way of drawing the four kinds of asset provisions has no substantial correlation with the efficiency of managing the four kinds of assets by enterprises.
