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The document examines the Basu conditional conservatism measure and whether the difference between earnings-return coefficients for bad and good news firms is due to the beginning-of-year price deflator used. The authors apply the Theil-Sen estimation method, which is not affected by variable scaling, and find that the Basu coefficient remains positive, supporting prior research, but that the coefficient magnitude is smaller than estimated using ordinary least squares.

Author

Filipe Duarte

Language

EN