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a)How would a researcher undertaking capital market research typically justify that a particular item of information has value to investors?(10 marks)

b)Evaluate the following statement: If an item of accounting information is released by a corporation and there is no apparent change in the share price of the company, then the information is not relevant to the market and there is no point in disclosing such information again.(15 marks)

c)Would you expect an earnings announcement by one firm within an industry to impact on the share prices of other firms within the industry? Why?(25 marks)

Note:For a): Decision relevance Ec dec=buy/sell/hold share price; b) Change of what? Not just market. For info: stakeholder/ legitimacy . Against info: pristine capitalist; c)Weak/strong EMH, New info, Firm or industry?

Please according the marks to plan the question. Essential reading : Financial Accounting Theory (Deegan and Unerman,) chapter 5,