Market Reactions to Accounting Policy Deliberations: The Inflation Accounting Case Revisited - A Reply.
比较了Basu和N&S两种方法论在测试统计量选择、显著性水平计算和抽样方法上的差异，认为两者各有优劣，未来研究者可结合两者优点。
Abstract The Basu and N&S methodologies differ on three dimensions: choice of test statistic, method of computing significance levels, and method for sampling from among the possible observable reactions. In our opinion, neither methodology dominates the other, and we could easily envisage future researchers drawing from both approaches. To a large extent, the three basic differences between the methodologies involve independent choices, so that it is possible to choose from the best features of each methodology. For example, a researcher might decide to use correlations as the test statistic (N&S), compute significance levels relative to an empirical distribution (N&S), and test for a significant correlation between the abnormal returns for one "partitioning" event and the abnormal returns for each of the other possible events (Basu).