The Lonergan study in 1996 found that fund managers believe that goodwill accounting has a major impact upon the share price.

Name: The Lonergan study in 1996 found that fund managers believe that goodwill accounting has a major impact upon the share price.
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Evidence is provided by a Securities Industry Association survey,conducted in Australia in 1995,that shows that analysts and fund managers do not believe that goodwill amortisation has a significant effect on security pricing (see Lonergan 1996).

The Lonergan Study in 1996 Found That Fund Managers Believe