Adverse public policy implications of the accounting conservatism doctrine: The case of premium rate regulation in the HMO industry
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Cited by (5)
Conservatism, SEC investigation, and fraud
2012, Journal of Accounting and Public PolicyCitation Excerpt :Bias and noise in the financial statements generate “soft” accounting numbers4 (Watts, 2006; Mackintosh, 2006). In one of the first studies to provide evidence on the adverse effects of the conservatism doctrine, Mensah et al. (1994) document that, based on the regulatory environment, HMOs intentionally understated profits in order to manage industry norms. Similarly, Givoly and Hayn (2000, p.292) maintain that accounting conservatism does not mitigate but rather “induces [information] asymmetry in the timeliness of incorporating economic events in reported earnings.”
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