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| Tekijä: | Rajgopal, S. |
| Otsikko: | Early evidence on the informativeness of the SEC's market risk disclosures: The case of commodity prices risk exposure of oil and gas producers |
| Lehti: | Accounting Review
1999 : JUL, VOL. 74:3,p. 251-280 |
| Asiasana: | COMMODITY PRICES RISK DISCLOSURE OIL INDUSTRY GAS INDUSTRY |
| Kieli: | eng |
| Tiivistelmä: | The paper uses existing disclosures of oil and gas producers to obtain proxies for the tabular and sensitivity analysis disclosures required by the new SEC rules. Proxies for the tabular and the sensitivity analysis format are significantly associated with oil and gas firms' stock return sensitivities to oil and gas movements, which casts doubt on claims that the new market risk disclosures do not reflect firms' risk exposures. The proxies for the tabular format and sensitivity format disclosures are not substitute explanations of firms' risk exposures. |
SCIMA