Discussion of "Contracting theory and accounting."

Article Abstract:

The area in which contracting theory has had the most significant effect in accounting is agency theory research in managerial accounting. Richard A. Lambert provides a valuable insight into this subject, but gives insufficient attention to areas where the agency paradigm makes forecasts that do not correspond with observed practice.

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Contracting theory and accounting

Article Abstract:

A discussion of agency theory and its relevance to accounting issues is presented. It is suggested that there are several interesting matters that arise in multi-periods agency models. The one that is most interesting to accounting is linked with the role of lead-lag effects in performance measures.

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Discussion of analysts' treatment of non-recurring items in street earnings and loss function assumptions in rational expectations tests on financial analysts' earnings forecasts

Article Abstract:

The papers of Gu and Chen on " Analysts' treatment of non-recurring items in street earnings" and Basu and Markov on "Loss function assumptions in rational expectations tests on financial analysts earnings forecasts" are examined critically.

United States, Analysis, Evaluation, Economic forecasting, Financial analysts

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