| This dissertation analyses the consequences of the proposed changes in oil and gas accounting on security values of small oil and gas producers using the Full Cost Method of Accounting. The dissertation integrates two research methodologies used in the literature, a time series approach and a cross-sectional approach. It concludes that the security prices of small oil and gas producers were affected by the proposed elimination of full cost accounting. The integration of these two research methodologies increases the power of the tests used.;The dissertation concludes that the security price reaction on July 19, 1977, the announcement date of the FASB's exposure draft, can be associated with proposed change of oil and gas accounting. |
