Which of These Research Findings Is Not True

Multiple Choice

Which of these research findings is not true?

A) Blacconiere and Patten found that despite general falls in Indian chemical firms' share price after the Bhopal disaster,firms with more extensive environmental disclosures had less fall reaction.
B) In their study Watts and Zimmerman argue that managers of large firms have greater incentives to reduce reported profits because of political factors.
C) The results of DeFond and Jiambalvo's study of managers of firms that defaulted on their accounting-based debt covenants support the ex ante perspective of accounting policy choice.
D) Godfrey and Jones found that managers of companies with highly unionised workforces attempted to affect the probability of wealth transfers by smoothing reported operating profit via the classification of recurring gains and losses.