Question
If securities market reaction to accounting information is observed during a narrow window, of three days around the release of accounting information, all the following
If securities market reaction to accounting information is observed during a narrow window, of three days around the release of accounting information, all the following are valid arguments EXCEPT for:
There are probably no other firm-specific factors to affect share returns but the accounting information
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Accounting information is the cause of the market reaction.
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A narrow window association provides stronger support for decision usefulness than a wide window
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A wide window association provides stronger support for decision usefulness than a narrow window
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