Accounting information is value relevant to the market. The earliest evidence is documented in Ball & Brown (1968) using the vent study method. Since then, hundreds of papers using similar event study Method have been published in the capital market literature including accounting standard adopions, mergers and acquisitions, recognition of impairments and others. REQUIRED: (a) Ball & Brown (1968) found that accounting information is useful but not timely. Explain this finding and its implication on accounting standards or stock market regulation. (b) Another major finding in Ball own (1968) is the Post earnings announcement drifts. Explain this issue and how it is related to behavioral accounting theory. (c) Criticize Ball & Brown (1968) paper