search query: @author Buchman, T. / total: 3
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| Author: | Leong, K. K. Zaima, J. K. Buchman, T. |
| Title: | The effect of ownership control states on stock price reaction to the adoption of LIFO inventory |
| Journal: | Journal of Business Finance and Accounting
1991 : APR, VOL. 18:3, p. 405-419 |
| Index terms: | STOCK MARKETS SHARE PRICES COMPANY OWNERSHIP CONTROL LIFO METHOD |
| Language: | eng |
| Abstract: | The relationship between the ownership control states of firms and the securities market reaction to their adoption of LIFO inventory method is examined. The joint effect of two factors on the behaviour of common stock prices is examined. The examined factors are the announcement of the adoption of LIFO inventory method and the ownership control status of the firm. It extends the past studies on securities market to LIFO adoption by using firm control status as a proxy for monitoring costs. The results indicate that the securities market reaction does not appear to have taken account of firm control status (namely monitoring costs) when interpreting the information content provided by announcement of LIFO adoption. |
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