Economic consequences(PPT 18)

1EconomicconsequencesShanghaiUniversityofFinanceandEconomicsYUANHONGQI2DIFINITIONZeff(1978):theimpactofaccountingreportsonthedecisionmakingbehaviorofbusiness,governmentandcreditorsTheessentialoftheconceptisthattheaccountingpolicychoicecanaffectthefirmvalue.TheisanoppositeviewtotheimplicationofEMH.ManagementisignoredinEMHwhileemphasizedineconomicconsequences.Ifachangeofaccountingpoli...