The Insurance Hypothesis and Market Prices.
研究审计师破产披露及继任审计师任命对客户公司股价的影响，检验保险假说，即投资者是否对从审计师处追回投资损失的权利赋予价值。
Abstract Examines the effect Laventhol & Horwath's (L&H) disclosure of their auditor's bankruptcy and the appointment of a successor auditor on the company's stock prices. Insurance hypothesis; Investors' assignment of a value to the right to recover investment losses from the auditor; Adverse effect of bankruptcy disclosure on market prices of L&H clients.