Review of Accounting Studies, 3, 5 (1998)
1998 Kluwer Academic Publishers, Boston. Manufactured in The Netherlands.
The papers contained in these two issues were presented at the Review of Accounting Stud-
ies ﬁrst conference held at the Haas School of Business, University of California at Berkely
on May 29–30, 1998. The conference theme was The Role of Accrual Accounting in Equity
Pricing and Performance Evaluation. Conference submissions went through the journal’s
standard review process. Funding for the conference was provided by the Review of Ac-
counting Studies, Kluwer Academic Publishers, Barclay’s Global Investors, Parker Center
for Investment Research, and the Center for Financial Reporting and Management at the
Haas School of Business. Sponsors of the Center for Financial Reporting and Management
include Arthur Andersen, Clorox, Deloitte & Touche, KPMG Peat Marwick, Levi Strauss
& Co., PricewaterhouseCoopers, Raychem, Seiler & Co., and Zeirer Visa Services.
A feature of the conference was a cash prize of $2,000 for the best paper donated by
Barclay’s Global Investors. The best paper was determined by a vote of conference at-
tendees following the last presentation. The winning paper was “The Characteristics and
Valuation of Loss Reserves of Property Casualty Insurers” by William H. Beaver and
Maureen F. McNichols.
John S. Hughes