This paper examines whether analysts resident in a country make more precise earnings forecasts for firms in that country than analysts who are not resident in that country. Using a sample of 32 countries, we find that there is an economically and statistically significant analyst local...

The main purpose of this study is to investigate whether the likelihood, frequency and information content of conference calls are positively associated with innovation. The study is based on 534 conference calls conducted in 340 firm-years from 1997 to 2001 in Taiwan. Our findings indicate that...

This study provides descriptive evidence on the controversial trend adopted by many firms in recent years of reporting earnings figures on a "pro forma" basis. Pro forma earnings exclude normal income statement items that managers deem to be nonrecurring or nonrepresentative of ongoing...

In this paper we conjecture that the weak association between disclosure and cost of equity capital found in the literature (Botosan, 1997) can be caused by the high level corporate disclosure environment found in the US. We hypothesize that in low level corporate disclosure environments the...

Accounting ratios are believed to be of fundamental importance in financial analysis, and therefore are useful addition to financial reports. This paper examines the reporting of voluntary accounting ratio by Malaysian companies in corporate annual reports. Drawing on agency and signaling...

Foreign operations are becoming increasingly important for U.S. companies. We investigate whether the market's valuation of foreign earnings is a function of the firm's geographic segment disclosures. Specifically, we examine the effects of an increase in the number of geographic segments...

This study adopts Ohlson's (1995) valuation model and Dechow et al.'s (1999) framework to examine the value relevance of intellectual capital (IC) disclosed by Taiwan's information technology (IT) companies. Following prior studies, we focus on four IC components: human, innovation, process, and...

At a time when distrust of corporate management is at an all-time high and the media are increasing their focus on corporate governance, Standard amp; Poor's has published a study that examines the transparency and disclosure (Tamp;D) practices of major public companies around the globe. This...

The effectively mandatory provision of management earnings forecasts (MEF) is an unique feature of Japan's financial disclosure system. The first objective of this study is to identify the determinants of systematic bias in MEF using a sample of nearly 25,000 one-year-ahead earnings forecasts...

More than 120 countries require or permit the use of International Financial Reporting Standards (lsquo;IFRS') by publicly listed companies on the basis of higher information quality and accounting comparability from IFRS application. However, the empirical evidence about these presumed benefits...