search query: @author Menon, K. / total: 9
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| Author: | Menon, K. Williams, D. |
| Title: | The insurance hypothesis and market prices |
| Journal: | Accounting Review
1994 : APR, VOL. 69:2, p. 327-342 |
| Index terms: | AUDITING INSURANCE BANKRUPTCY |
| Language: | eng |
| Abstract: | The authors of this article examine the effect on stock prices of Laventhol & Horwath (L&H) clients of two related events: first, the disclosure of their auditor's bankruptcy, and second, the appointment of a successor auditor. L&H's bankruptcy is a rare instance in which the insurance protection provided by the auditor was suddenly withdrawn and the ability of investors to recover losses from the auditor was significantly curtailed. The results suggest that the disclosure of L&H's bankruptcy had an adverse effect on market prices of L&H clients. |
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