Ahmed, Kamran; Godfrey, Jayne M.; Saleh, Norman M. - In: The International Journal of Accounting 43 (2008) 2, pp. 114-138
This study addresses how a stock market prices earnings components around a sudden and severe economic downturn. In particular, the study examines the market valuation of discretionary accruals for debt renegotiating Malaysian firms during the Asian financial crisis. Our analysis shows that...