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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...
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We examine the performance of 118 firms that downsized between 1989-93. We find that downsizing firms experience declines in operating performance prior to the downsizing announcement. Operating performance improves significantly following the downsizing. These firms are able to reduce the cost...
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CET ARTICLE TRAITE DE L'EFFET DU RÉGIME DE RESPONSABILITÉ LÉGALE SUR LA DEMANDE ET L'OFFRE DE SERVICES D'AUDIT
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