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What is Accounting Quality and Price Delay Effects about?

This study examines the relationship between accounting quality, stock price adjustment delays, and future stock returns. The authors hypothesize that poor accounting quality is associated with delayed stock price adjustment to new information and higher required future returns. Using measures of accounting quality like accrual quality and qualitative disclosure clarity, they find stocks with poorer quality accounting have more delayed price responses and higher future returns, consistent with their hypothe

Author

Alan Simon

Language

EN