We extend Dopuch, King and Schwartz (2003) by examining the effect of various fee ratios on investor perception of auditor independence and market behavior. Consistent with Dopuch et al. (2003), we find disclosure of nonaudit fees reduces the accuracy of investor perception of auditor...

This paper presents an experiment that examines how enhanced disclosure of nonfinancial performance indicators affects the stock-price estimates of nonprofessional and professional investors. Participants were provided with a case study containing excerpts from a hypothetical company's annual...