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Regulation and Markets in a Certification Society: The Case of Financial Reporting. Karim Jamal and Shyam Sunder Carnegie Mellon University August 25-26, 2006. Summary. Examination of audit certification in the broader context of certification activities in the economy
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Regulation and Markets in a Certification Society: The Case of Financial Reporting
Karim Jamal and Shyam Sunder
Carnegie Mellon University
August 25-26, 2006
Table 1: Certification Services for Products Sold Online and Offline in the US
Table 4: Baseball Card Certification Services
(Baseball Cards Traded on eBay, N=321,045)
Singles (272,399 cards) Rookies (48,646 cards)
Table 5A: Frequency of Grades Given by 3rd Party Certification Services
(For a Sample of 1,000 Graded Single Baseball Cards)
Table 5B: Frequency of Grades Given by 3rd Party Certification Services
(For a Sample of 1,000 Graded Rookie Baseball Cards)
Average Returns to Grading of Rookie Cards (by Grader and Decade of Issue)
Ri = 1+ 1Yeari + 2Gradei + 3GPSAi + 4GBGSi + 5GBecketti
+6GGAIi + 7GGEMi + 8GSGCi + ei
Regression (990)df, R2 = 0.1747, p < 0.001. (Adjusted R2 = 0.168)
*** p <0.001
** p < 0.01
* p < 0.05