KAUSAR, ASAD; TAFFLER, RICHARD J.; TAN, CHRISTINE - In: Journal of Accounting Research 47 (2009) 1, pp. 213-239
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We explore the market response to announcements of first-time going-concern (GC) audit opinions and, for a subset of these cases, their subsequent withdrawal, from 1993 to 2005. We find that the market fully responds to GC withdrawal announcements but underreacts to the GC announcements...
