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This monograph is not a review of the empirical accounting literature. This monograph tells a story and relates it to salient empirical phenomena. Why does accounting exist? Our answer is that financial accounting helps firms function efficiently. That efficiency is manifested in many ways, and...
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The information revolution currently underway has changed the economy in ways that are hard to measure using … conventional GDP procedures. The information available to consumers has increased dramatically as a result of the Internet and its … now has an unprecedented amount of information on which to base consumption choices, and the “free” nature of the …
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