Investor reactions to restatements conditional on disclosure of internal control weaknesses

• Main Authors: Li, Yiwen, Park, You-il, Wynn, Jinyoung
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2020
• Subjects: Business::Accounting; Disclosures; Financial Restatements
• Online Access: https://hdl.handle.net/10356/140333
• Institution: Nanyang Technological University

Purpose: The purpose of this paper is to investigate investor reactions to financial restatements conditional on disclosures of internal control weaknesses under Section 404 of the Sarbanes-Oxley Act. Design/methodology/approach: The research uses cumulative abnormal stock returns (CARs) as a proxy...