英文摘要 |
This paper investigate whether the three types of Reserves Recognition Accounting (RRA) disclosures are useful to predict future earnings for US-listed oil and gas companies, and whether the future earnings reaction coefficient (FERC) for RRA under full cost method (FC) and successful effort method (SE) is significant different. The empirical results: (1) RRA standardized measurement is useful for predicting future earnings under SE, and the FERC for it under SE is higher than FC. (2) PR isn't useful for predicting future earnings under both accounting methods. However, the subtypes of PR, namely PDR and PUDR, are both useful for predicting future earnings under both accounting methods; moreover, under FC, only PUDR is useful for predicting future earnings. Under both accounting methods, the FERC is higher for PDR than for PUDR. (3) Under FC, PUDR with a development period of less than 5 years had a higher FERC than PUDR with a development period of more than 5 years. |