Peixinho, Rúben; Taffler, Richard - Centro de Estudos e Formação Avançada em Gestão e … - 2011
This study explores whether security analysts recognize firms’ going-concern problems and report appropriately to investors. We find that analysts signal their anticipation of the publication of a going-concern modified (GCM) audit report in two ways: 1) they downgrade more aggressively stock...