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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

Accounting information is the cause of the market reaction.

A narrow window association provides stronger support for decision usefulness than a wide window

A wide window association provides stronger support for decision usefulness than a narrow window

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