| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 958724 | Journal of Empirical Finance | 2007 | 25 Pages |
Abstract
On June 27, 2002, the Securities and Exchange Commission of the United States ordered the CEOs and CFOs of 688 large firms to certify the earnings numbers of their companies by 5:30PM EST, Aug 14, 2002. This paper uses this natural experiment to find that certification was not only a non-event for the certifiers around their certification date, but it was also a non-event for the non-certifiers around Aug 15, 2002. Further tests make us conclude that CEO certification of earnings numbers is not value-relevant.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Utpal Bhattacharya, Peter Groznik, Bruce Haslem,