Sunder, Shyam - In: Journal of Capital Markets Studies (JCMS) 1 (2017) 1, pp. 5-9
often claimed that statistical studies of co-variation between financial and stock market data can help set better financial … reporting policy. Such co-variation, even when it can be estimated, tells us little about which financial reports help to make … advised to be extremely careful in drawing inferences from studies of co-variation between accounting and stock market data …