Cai, Guilong; Ge, Rui; Pittman, Jeffrey; Zolotoy, Leon - In: Journal of accounting and public policy 51 (2025), pp. 1-21
We show that the revelation of an accounting scandal in a member firm induces stock price declines among other member firms in the same business group. Additional evidence suggests that the spillover effects of accounting scandals are amplified when peer member firms exhibit wider deviation...