Accounting Estimation Disclosures and Firm Valuation in the Property-Casualty Insurance Industry

Journal of Accounting, Auditing & Finance

Volumn 12, Issue 3, 1997, Pages 257-281

  Anthony, Joseph H ^a   Petroni, Kathy R ^a  

^a MICHIGAN STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84997868352     PISSN: 0148558X     EISSN: None     Source Type: Journal    
DOI: 10.1177/0148558X9701200305     Document Type: Article

References (34)

1. AICPA. 1982. Audits of Fire and Casualty Insurance Companies. New York: American Institute of Certified Public Accountants.
2. Alford A., Jones J., Zmijewski M. 1994. “Extensions and Violations of the Statutory SBC Form 10-K Filing Requirements.” Journal of Accounting and Economics 17 (March): 229-254.
3. Ali A., Zarowin P. 1992. “The Role of Earnings Levels in Annual Earnings-Returns Studies.” Journal of Accounting Research 30 (Autumn): 286-296.
4. Atiase R. 1987. “Market Implications of Predisclosure Information: Size and Exchange Effects.” Journal of Accounting Research 25 (Spring): 168-176.
5. Barth M., Beaver W., Landsman W. 1996. “Value-Relevance of Banks’ Fair Value Disclosures Under SFAS 107.” The Accounting Review 71 (October): 513-538.
6. Beaver W., Eger C., Ryan S., Wolfson M. 1989. “Financial Reporting, Supplemental Disclosures, and Bank Share Prices.” Journal of Accounting Research 27 (Autumn): 157-178.
7. Belsley D., Kuh E., Welsch R. 1980. Regression Diagnostics: Identifying Influential Data and Sources of Collinearity. New York: John Wiley.
8. Biddle G. C., Seow G. 1991. “The Estimation and Determinants of Associations between Returns and Earnings: Evidence from Cross-Industry Comparisons.” Journal of Accounting, Auditing and Finance 6 (Spring): 183-232.
9. Cheng C. S., Hopwood W. S., McKeown J. C. 1992. “Non-Linearity and Specification Problems in Unexpected Earnings Response Regression Model.” The Accounting Review 67 (July): 579-598.
10. Christie A. 1987. “On Cross-Sectional Analysis in Accounting Research.” Journal of Accounting and Economics 9 (December): 231-258.
11. Christie A., Joye M., Watts R. 1993. “Decentralization of the Firm: Theory and Evidence.” Working paper, University of Rochester.
12. Collins D. W., Kothari S. P. 1989. “An Analysis of the Intertemporal and Cross-Sectional Determinants of the Earnings Response Coefficients.” Journal of Accounting and Economics 11 (July): 143-181.
13. Dhaliwal D., Reynolds S. 1994. “The Effect of the Default Risk of Debt on the Earnings Response Coefficient.” The Accounting Review 69 (April): 412-419.
14. Eccher A., Ramesh K., Thiagarajan R. 1996. “Fair Value Disclosures by Bank Holding Companies.” Journal of Accounting and Economics 22 (August-December): 79-117.
15. Freeman R. N., Tse S. Y. 1992. “A Nonlinear Model of Security Price Responses to Unexpected Earnings.” Journal of Accounting Research 30 (Autumn): 185-209.
16. Greene W. H. 1993. Econometric Analysis. 2nd ed. New York: Macmillan.
17. Holthausen R., Verrecchia R. 1988. “The Effect of Sequential Information Releases on the Variance of Price Changes in an Intertemporal Multi-Asset Market.” Journal of Accounting Research 26 (Spring): 82-106.
18. Ibbotson R. G. 1992. Stocks, Bonds, Bills and Inflation 1992 Yearbook. Chicago: Ibbotson.
19. Imhoff E., Lobo G. 1992. “The Effect of Ex Ante Earnings Uncertainty on Earnings Response Coefficients.” The Accounting Review 30 (April): 427-439.
20. Kormendi R., Lipe R. 1987. “Earnings Innovations, Earnings Persistence and Stock Returns.” Journal of Business 60 (July): 323-345.
21. Lipe R. C. 1990. “The Relation Between Stock Returns and Accounting Earnings Given Alternative Information.” The Accounting Review 65 (January): 49-71.
22. Ohlson J. A., Shroff P. K. 1992. “Changes versus Levels in Earnings as Explanatory Variables for Returns: Some Theoretical Considerations.” Journal of Accounting Research 30 (Autumn): 210-226.
23. Petroni K. 1992. “Optimistic Reporting in the Property-Casualty Insurance Industry.” Journal of Accounting and Economics 15 (December): 485-508.
24. Petroni K., Beasley M. 1996. “Errors in Accounting Estimates and Their Relation to Audit Firm Type.” Journal of Accounting Research 34 (Spring): 151-171.
25. Pottier S. 1994. “The Information Value of A. M. Best Ratings in Predicting Life Insurer Solvency.” Working paper, University of Texas at Austin.
26. Powers M., Revsine L. 1989. “Lessors’ Accounting and Residual Values: Comdisco, Barron's and GAAP.” The Accounting Review 64 (April): 346-368.
27. Ramesh K., Thiagarajan R. 1991. “Value Relevance of Earnings Levels.” Working paper, Northwestern University.
28. Ramsey J. B. 1969. “Tests for Specification Errors in Classical Linear Least-Squares Regression Analysis.” Journal of the Royal Statistical Society (Series B, Part 2): 350-371.
29. Scholes M., Wilson P., Wolfson M. 1990. “Tax Planning, Regulatory Capital Planning, and Financial Reporting Strategy for Commercial Banks.” The Review of Financial Studies 3: 625-650.
30. Teets W. 1992. “The Association between Stock Market Responses to Earnings Announcements and Regulation of Electric Utilities.” Journal of Accounting Research 30 (Autumn): 274-285.
31. Teoh S. H., Wong T. J. 1993. “Perceived Auditor Quality and the Earnings Response Coefficient.” The Accounting Review 68 (April): 346-366.
32. Tillinghast. 1988. 1987 SEC Loss Reserve Disclosures. Stamford, CT: A Tillinghast Publication.
33. Wahlen J. 1994. “The Nature of Information in Commercial Bank Loan Loss Disclosures.” The Accounting Review 69 (July): 455-478.
34. White H. 1980. “A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity.” Econometrica 48 (May): 817-838.