Among the global efforts to improve the operation of financial markets, one is better accounting standards (i.e., IFRS). Research has shown that besides high quality accounting standards there is also a need for functional institutions, regulations, incentives and enforcement to achieve...

Among the global efforts to improve the operation of financial markets, one is better accounting standards (i.e., IFRS). Research has shown that besides high quality accounting standards there is also a need for functional institutions, regulations, incentives and enforcement to achieve...

A large body of financial accounting research explores the quality of accounting in different countries. A bedrock assumption in most of that research is that common law provides a firmer foundation for good accounting transparency than does civil law. Researchers usually regress their proxy for...

Changes in inventory costing methods, especially those involving the last-in, first-out (LIFO) cost-flow assumption, can generate potentially large changes in a firm's cash flows due to their impact on taxable earnings. These cash-flow effects provide not only a motive for LIFO changes (which is...

One important aspect of the world economy is the process of implementing uniform financial reporting standards. A leap forward took place when the European Union required that listed companies in all member nations use International Financial Reporting Standards (IFRS) for years beginning 2005....

Is it plausible that important corporate events such as write-offs, averaging around 20% of firms? market values, are associated with stock-price responses of less than 1%? We investigate this question by observing a lengthy period before and after the announcement date. We find, as suggested by...