We investigate the social and legal blame that investors assign to auditors following unfavorable outcomes using the precision of accounting guidance described as principles-based (i.e., less-precise) or rules-based (i.e., more precise), and why investors assign blame at differing levels. We...

Purpose: This paper examines the impact that fair-value recognition of non-financial assets has on the judgments of commercial lenders. Design/methodology/approach: Commercial lenders, who were attending a national banking conference, participated in a controlled experiment. Findings: The...