Batta, George; Ganguly, Ananda; Rosett, Joshua George - In: Review of Pacific Basin Financial Markets and Policies … 17 (2014) 02, pp. 1450008-1
In this paper, we assess the equity value relevance of disclosure-derived financial statement adjustments. In price levels and returns tests, we find that reported financial numbers have relatively superior explanatory power over adjusted numbers. Only when adjustments are included along with...