Understanding Accounting Changes in an Efficient Market - A Comment, Replication, and Re-Interpretation.
复制并修正了1978年关于证券市场对会计方法变更（改用LIFO）反应的研究，指出原实验设计缺陷，修正后结论有所调整，但市场对LIFO采用的反应仍取决于盈利状况。
Abstract ABSTRACT: This paper presents a replication and correction of a 1978 paper concerning the security market reaction to discretionary accounting changes (a switch to LIFO). The paper contains a flaw in the experimental design. Once the design is corrected, some of the conclusions reached in the original paper must be revised. However, the corrected results do not negate the finding that the security market reaction to a LIFO adoption is conditional on earnings.