Moon, Gisung; Lee, Hongbok; Waggle, Doug - In: Managerial Finance 46 (2019) 1, pp. 92-108
Purpose: The authors investigate how the stock market reacts to financial restatements using the restatements data from the United States Government Accountability Office (GAO-06-678). In particular, the purpose of this paper is to examine the long-run equity performance of the restating firms,...