Accounting Information: An Investigation of Private Shareholder Usage

Accounting and Business Research

Volumn 5, Issue 20, 1975, Pages 280-291

  Lee, T A ^a   Tweedie, D P ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84948487752     PISSN: 00014788     EISSN: 21594260     Source Type: Journal    
DOI: 10.1080/00014788.1975.9728653     Document Type: Article

References (13)

1. See, B. Carsberg, A. Hope and R. W. Scapens, ‘The Objectives of Published Accounting Reports’, Accounting and Business Research, Summer 1974, pp. 162-73, who present evidence to show that, while the traditional stewardship objective of accounting remains widely acknowledged as important, there appears to be a growing consensus that the provision of information to assist shareholders with their investment decisions should be recognised as a second mportant objective of financial reports.
2. See, H. K. Baker and J. A. Haslem, ‘Information Needs of Individual Investors’, The Journal of Accountancy, November 1973, pp. 66-67, who showed that of 33 factors used in investment analysis, four of the six rated as being most important by 851 individual investors were future or expectational factors.
3. See, for example, R. Ball and P. Brown, ‘An Empirical Evaluation of Accounting Income Numbers’, Journal of Accounting Research, Autumn 1968, pp. 159-77; and G. J. Benston, ‘Published Corporate Accounting Data and Stock Prices’, Empirical Research in Accounting: Selected Studies, 1967, pp. 1-54.
4. See, W. H. Beaver, ‘The Information Content of Annual Earnings Accouncements’, Empirical Research in Accounting: Selected Studies, 1968, pp. 67-92, who stated that the share price and volume reaction on the announcement of reported earnings indicated that investors look directly at these earnings and do not use other variables to the exclusion of annual reported earnings.
5. W. W. Cooper, N. Dopuch and T. F. Keller, ‘Budgetary Disclosure and Other Suggestions for Improving Accounting Reports’, The Accounting Review, 1968, pp. 640-48.
6. T. A. Lee, ‘A Case for Cash Flow Reporting’, Journal of Business Finance, Summer 1972, pp. 27-36.
7. See, C. J. Jones, D. P. Tweedie and G. Whittington, ‘The Regression Portfolio: A Statistical Investigation of a Relative Decline Model’, Journal of Business Finance and Accounting, Autumn 1975 (forthcoming).
8. See, for example, R. A. Daily, ‘The Feasibility of Reporting Forecasted Information’, The Accounting Review, October 1971, pp. 686-92; and S. Dev and M. Webb, ‘The Accuracy of Company Profit Forecasts’, Journal of Business Finance, Autumn 1972, pp. 26-39.
9. See, R. J. Asebrook and D. R. Carmichael, ‘Reporting on Forecasts: A Survey of Attitudes’, The Journal of Accountancy, August 1973, pp. 38-48; and K. F. Skousen, R. A. Sharp and R. K. Tolman, ‘Corporate Disclosure of Budgetary Data’, The Journal of Accountancy, May 1972, pp. 50-7.
10. See, Asebrook and Carmichael, op. cit., pp. 42-6.
11. See, Lee, op. cit., p. 32 and Cooper et al, op. cit, p. 646.
12. See, Asebrook and Carmichael, op. cit.
13. See also, Baker and Haslem, op. cit., p. 69.