Front Matter Source: The Accounting Review, Vol. 73, No. 1 (Jan., 1998) Published by: American Accounting Association Stable URL: http://www.jstor.org/stable/248338 . Accessed: 12/06/2014 15:05 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. . American Accounting Association is collaborating with JSTOR to digitize, preserve and extend access to The Accounting Review. http://www.jstor.org This content downloaded from 195.78.108.147 on Thu, 12 Jun 2014 15:05:11 PM All use subject to JSTOR Terms and Conditions
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Front MatterSource: The Accounting Review, Vol. 73, No. 1 (Jan., 1998)Published by: American Accounting AssociationStable URL: http://www.jstor.org/stable/248338 .
Accessed: 12/06/2014 15:05
Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at .http://www.jstor.org/page/info/about/policies/terms.jsp
.JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range ofcontent in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new formsof scholarship. For more information about JSTOR, please contact [email protected].
.
American Accounting Association is collaborating with JSTOR to digitize, preserve and extend access to TheAccounting Review.
http://www.jstor.org
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JOHN PHILLIPS and RICHARD C. SANSING Contingent Fees and Tax Compliance
JEFFERY S. ABARBANELL and BRIAN J. BUSHEE Abnormal Returns to a Fundamental Analysis Strategy
SANDRA C. VERA-MUNOZ The Effects of Accounting Knowledge and Context on the Omission of Opportunity Costs in Resource Allocation Decisions
MARY E. BARTH, WAYNE R. LANDSMAN and RICHARD J. RENDLEMAN, JR. Option Pricing-Based Bond Value Estimates and a Fundamental Components Approach to Account for Corporate Debt
JERRY C. Y. HAN and SHIING-WU WANG Political Costs and Earnings Management of Oil Companies During the 1990 Persian Gulf Crisis
SAMIR M. EL-GAZZAR Predisclosure Information and Institutional Ownership: A Cross-Sectional Examination of Market Revaluations During Earnings Announcement Periods
SCOTT L. SUMMERS and JOHN T. SWEENEY Fraudulently Misstated Financial Statements and Insider Trading: An Empirical Analysis
A Q U A R T E R L Y J O U R N A L O F T H E
AMERICAN ACCOUNTING ASSOCIATION
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The members of the 1997-98 Executive Committee of the Association are as follows:
President W. Steve Albrecht, Brigham Young University President-Elect Michael A. Diamond, University of Southern California Vice President G. Peter Wilson, Boston College Vice President Karen V. Pincus, University of Arkansas Vice President Brent C. Inman, Coopers & Lybrand LLP Secretary/Treasurer Karen L. Hooks, Florida Atlantic University Director of Education Richard E. Baker, Northern Illinois University Director of Research Julie H. Collins, University of North Carolina at Chapel Hill Director of Publications Robert J. Sack, University of Virginia Past President Joseph J. Schultz, Jr., Arizona State University
The full-time Executive Director of the Association is Craig E. Polhemus.
The American Accounting Association was founded in 1916 as the American Association of University Instructors in Accounting. Its present name was adopted in 1936. The Association is a voluntary organization of persons interested in accounting education, research and practice. Full membership entitles one to receive Accounting Education News, a selection of one, two or all three of the Association-wide journals (The Accounting Review, Accounting Horizons and Issues in Accounting Education) and the opportunity to pur- chase Association publications at a discount.
Membership in the Association is available at the following annual rates:
Full membership: The membership dues are based on the selection of one, two or all three of the following Association-wide journals: The Accounting Review, Accounting Horizons and Issues in Accounting Education. (This does not include Section journals.)
Select one Association-wide journal ...................................................... U.S. $85.00 Select two Association-wide journals .................................................... US. $95.00 All three Association-wide journals ...................................................... U.S. $100.00
Associate membership for students residing in the United States and Canada: Select one Association-wide journal ...................................................... U.S. $12.00 Select two Association-wide journals .................................................... U.S. $22.00 All three Association-wide journals ...................................................... U.S. $27.00
In addition, full members may belong to one or more Sections: Accounting, Behavior and Organizations; Administrators of Accounting Programs Group; American Taxation Association; Artificial Intelligence/ Emerging Technologies; Auditing; Financial Accounting and Reporting; Gender Issues in Accounting; Gov- ernment and Nonprofit; Information Systems; International Accounting; Management Accounting; Public Interest; Teaching and Curriculum; and Two-Year College. Each Section assess its own annual dues which are collected by the Association.
Subscriptions to The Accounting Review are available at the annual rate of U.S. $1 10.00, effective January 1, 1998.
Periodical postage paid at Sarasota, Florida and at additional mailing offices. POSTMASTER: Send address changes to American Accounting Association, 5717 Bessie Drive, Sarasota, FL 34233-2399.
Editorial correspondence and all manuscripts should be sent to Professor Gerald L. Salamon, Editor, The Accounting Review. School of Business, Indiana University, Bloomington, IN 47405.
The submission fee of $75.00 for members of the AAA or $100.00 for nonmembers must accompany manuscripts when submitted. Books for review should be sent to Professor Thomas H. Williams, Accounting Area, McIntire School, University of Virginia, Charlottesville, VA 22903-2493. Request for reprint permis- sion, subscriptions, advertisements and dues should be sent to American Accounting Association, 5717 Bessie Drive, Sarasota, FL 34233-2399 * Telephone: (941) 921-7747 * Fax: (941) 923-4093 * Email: [email protected]. Notice of change of address should be mailed at least eight weeks in advance to ensure undelayed receipt of The Accounting Review.
Copyright ? 1998 American Accounting Association. All rights reserved. Printed in the United States of America. (ISSN 0001-4826.)
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THE ACCOUNTING REVIEW A Q UARTE R LY J O U R NAL O F TH E
AMERICAN ACCOUNTING ASSOCIATION Editor
Gerald L. Salarmon Associate Editors
Stanley Baiman Mark W. Nelson Mary E. Barth Jamie H. Pratt Dan S. Dhaliwal Brett Trueman
VOL. 73 JANUARY 1998 No. 1
JOHN PHILLIPS and RICHARD C. SANSING Contingent Fees and Tax Compliance ................ ................................. 1
JEFFERY S. ABARBANELL and BRIAN J. BUSHEE Abnormal Returns to a Fundamental Analysis Strategy ........ ...................... 19
SANDRA C. VERA-MUNOZ The Effects of Accounting Knowledge and Context on the Omission of Opportunity Costs in Resource Allocation Decisions ...................... ......................... 47
MARY E. BARTH, WAYNE R. LANDSMAN and RICHARD J. RENDLEMAN, JR. Option Pricing-Based Bond Value Estimates and a Fundamental Components Approach to Account for Corporate Debt ................. ........................... 73
JERRY C. Y. HAN and SHIING-WU WANG Political Costs and Earnings Management of Oil Companies During the 1990 Persian Gulf Crisis ............................. ............................. 103
SAMIR M. EL-GAZZAR Predisclosure Information and Institutional Ownership: A Cross-Sectional Examination of Market Revaluations During Earnings Announcement Periods ...... 119
SCOTT L. SUMMERS and JOHN T. SWEENEY Fraudulently Misstated Financial Statements and Insider Trading: An Empirical Analysis .......................................................... 131
BOOK REVIEWS, Thomas H. Williams, Editor
Michael Power, Accounting and Science ......... ........... ELIZABETH GOAD OLIVER 147
Gordon V. Smith, Trademark Valuation ............................. KAREN S. CRAVENS 148
List of Books Received ..................................... 149 Erratum ..................................... 151 Editorial Data ..................................... 152 List of Occasional Reviewers and Associate Editors ..................................... 153 Editorial Policy and Style Information ........... .......................... 156 American Accounting Association Committees 1997-98 ......... ........................... 160
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Editorial Staff of The Accounting Review 1997-1998
MANAGING EDITOR AND EDITOR Gerald L. Salamon, Indiana University
ASSOCIATE EDITORS Stanley Baiman, University of Pennsylvania
Mary E. Barth, Stanford University Dan S. Dhaliwal, University of Arizona
Mark W. Nelson, Cornell University Jamie H. Pratt, Indiana University
Brett Trueman, University of California at Berkeley
BOOK REVIEW EDITOR Thomas H. Williams, University of Virginia
American Accounting Association EXECUTIVE DIRECTOR
Craig E. Polhemus
COMMUNICATIONS DEPARTMENT Beverly Harrelson
James De La Lynn Zook
Jan Kovarik (subcontracted)
OTHER AAA STAFF Tracey E. Sutherland
Debora Gardner Roland LaTulip
Mary Cole Judy Cothern
James Szelminski
Editorial Advisory and Review Board Andrew W. Alford, University of Pennsylvania Ashiq Ali, University of Arizona Frances L. Ayres, University of Oklahoma William R. Baber, The George Washington University Stephen P. Baginski, Indiana University Ramji Balakrishnan, University of Iowa Linda S. Bamber, University of Georgia Messod Daniel Beneish, Indiana University Walter G. Blacconiere, Indiana University Robert J. Bloomfield, Cornell University Sarah E. Bonner, University of Southern California David C. Burgstahler, University of Washington C. Bryan Cloyd, University of Texas at Austin Jean C. Cooper, University of Kentucky Michael L. Ettredge, University of Kansas Joseph G. Fisher, Indiana University Jere R. Francis, University of Missouri-Columbia Kenneth M. Gaver, University of Georgia Frank B. Gigler, University of Chicago Karl E. Hackenbrack, University of Florida Susan F. Haka, Michigan State University John R. M. Hand, University of North Carolina at
Chapel Hill Vicky B. Hoffman, University of Pittsburgh Amy P. Hutton, Harvard University Raffi J. Indjejikian, University of Michigan Christopher D. Ittner, University of Pennsylvania Debra C. Jeter, Vanderbilt University Steven J. Kachelmeier, University of Texas at Austin S. Jane Kennedy, University of Washington Lisa L. Koonce, University of Texas at Austin William N. Lanen, University of Michigan Charles M. C. Lee, Cornell University Marlys G. Lipe, University of Oklahoma
Joan L. Luft, Michigan State University Russell J. Lundholm, University of Michigan Joseph Magliolo III, Southern Methodist University Laureen Maines, Indiana University Ella Mae Matsumura, University of Wisconsin-Madison Steven R. Matsunaga, University of Oregon Maureen F. McNichols, Stanford University Kenneth A. Merchant, University of Southern California H. Fred Mittelstaedt, University of Notre Dame Arijit Mukherji, University of Minnesota Patricia C. O'Brien, London Business School Kathy R. Petroni, Michigan State University Madhav V. Rajan, University of Pennsylvania Robert J. Ramsay, University of Kentucky Judy D. Rayburn, University of Minnesota, Minneapolis Stephen G. Ryan, New York University Richard C. Sansing, Yale University Jeffrey W. Schatzberg, University of Arizona Rachel Schwartz, Washington University Douglas A. Shackelford, University of North Carolina at
Chapel Hill Wayne H. Shaw, Southern Methodist University Daniel T. Simon, University of Notre Dame Douglas Skinner, University of Michigan J. Reed Smith, University of Oregon Sri S. Sridhar, Northwestern University Mary S. Stone, University of Alabama Sundaraman Thiagarajan, Northwestern University Lynda Thoman, Purdue University Senyo Y. Tse, University of Texas at Austin Richard M. Tubbs, University of Iowa Terry D. Warfield, University of Wisconsin-Madison Richard A. Young, Ohio State University
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1926-1929 William A. Paton 1929-1943 Eric L. Kohler 1944-1947 A. C. Littleton 1948-1949 Robert L. Dixon 1950-1959 Frank P. Smith 1960-1962 Robert K. Mautz 1963-1964 Lawrence L. Vance 1965-1967 Wendell Trumbull 1968-1970 Charles H. Griffin
1971-1972 Eldon S. Hendriksen 1973-1975 Thomas F. Keller 1976-1978 Don T. DeCoster 1978-1983 Stephen A. Zeff 1983-1987 Gary L. Sundem 1987-1990 William R. Kinney, Jr 1990-1994 A. Rashad Abdel-khalik 1994-1996 Robert P. Magee
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