.... In this study, we conduct an experiment using experienced professional valuators to investigate the validity of this assumption. We find that where the nature of the conflict is aligned with the interests of the current client, disclosure of a conflict of interest actually increases bias in participants...

..., Newark, for helpful comments and suggestions. Editor's note: Accepted by Donald Stokes. We focus on revenue quality for the following reasons. Revenue growth is perhaps the most important driver of firm valuation, especially for small firms ( Jegadeesh and Livnat 2006 ). Revenue is the largest...