Audit Qualifications and Share Prices: Further Evidence

Terry Shevlin and Greg Whittred
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Terry Shevlin: Doctoral Student, Graduate School of Business, Stanford University.
Greg Whittred: School of Accountancy, University of New South Wales.

Australian Journal of Management, 1984, vol. 9, issue 1, 37-52

Abstract: Employing a portfolio approach which controls directly for the sign (indirectly for the magnitude) of unexpected earnings, this study examines the stock market's reaction to qualified audit reports. There is no substantive evidence that qualifications affect equity prices in the month of their announcement. However, there is evidence that firms that receive certain types of qualification experience negative abnormal returns in the twelve months preceding this event.

Keywords: AUDIT QUALIFICATION; ABNORMAL RETURNS (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:9:y:1984:i:1:p:37-52

DOI: 10.1177/031289628400900103

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