Analysts’ earnings forecasting behavior surrounding uncertain regulatory events: evidence from the Tax Reform Act of 1986

The Impact of the Amendment of Taiwan’s Certified Public Accountant Act in 2007 on Large Accounting Firms

“…Many studies have been mainly conducted to analyze the industry data and government data. (These include studies of the Tax Reform Act [11][12][13][14], the Economic Recovery Tax Act [29][30][31], IFRS16 [15][16][17], the Securities Act [18], the America Invents Act [32,33], the American Recovery and Reinvestment Act [34,35], the American Jobs Creation Act [36,37], the Sherman Act [38], the Taxpayer Relief Act [39][40][41], the Glass-Steagall Act [42], the Gramm-Leach-Bliley Act [43], and the Omnibus Trade and Competitiveness Act [44].) The focus of these studies is on the significant impact of the promulgation or amendment of laws on society or related industries.…”

“…While the impact of the amendment of accounting law on the financial environment of corporations and institutions cannot be denied, scholars have yet to examine the significant effect the amendment of accounting law has on revenue of accounting firms. Existing relevant literature mainly discusses the impact of the amendment of other laws, for example, the Tax Reform Act [11][12][13][14], IFRS16 [15][16][17], the Securities Act [18], etc. At present, there are only two studies in the literature related to the impact of the amendment of accounting law, although some scholars have focused on the legal effect amendment that accounting law has on cash accounting information systems [19] or on the division of accounting firms [20].…”