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In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and … IFRS adopters in 14 EU countries for the period 2003-2007, we find a V-shaped pattern in synchronicity around IFRS adoption …, which is consistent with IFRS disclosures revealing new firm-specific information in the adoption period (i.e., a reduction …
Persistent link: https://www.econbiz.de/10011090958
This study examines the properties of the information contained in analysts’ earnings forecasts for mandatory IFRS … information after switching to IFRS, especially for forecasts pertaining to 2006 and later. However, we are unable to detect a … change in the consensus among financial analysts after the mandatory adoption of IFRS. These results suggest that the higher …
Persistent link: https://www.econbiz.de/10011091872
Persistent link: https://www.econbiz.de/10011090944
Consider a monopolist who sells a durable good, and repairs the good if it breaks down. Suppose that contracts that specify future repair prices cannot be written, so that there is an aftermarket" situation. When consumers are risk-averse, the monopolist chooses inefficiently high repair prices;...
Persistent link: https://www.econbiz.de/10011092790
Cloud computing technologies have the potential to increase innovation and economic growth considerably. But many users worry that data in the cloud can be accessed by others, thereby damaging the data owner. Consequently, they do not use cloud technologies up to the efficient level. I design an...
Persistent link: https://www.econbiz.de/10011144432
We analyze competition among academic faculties for new researchers. The value to individual members through social interaction within the faculty depends on the average status of their fellow members. When competing for new members, existing members trade off the effect of entry on average...
Persistent link: https://www.econbiz.de/10011092619
By generalizing the standard solution for 2-person games into n-person cases, this paper develops a new solution concept for cooperative games: the consensus value.We characterize the consensus value as the unique function that satisfies efficiency, symmetry, the quasi dummy property and...
Persistent link: https://www.econbiz.de/10011092734
This paper analyzes the relations between social capital, institutions and trust.These concepts are full of ambiguity and confusion.This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust.It...
Persistent link: https://www.econbiz.de/10011092754
In this paper we present an axiomatic analysis of several ranking methods for tournaments. We find that two of them exhibit a very good behaviour with respect to the set of properties under consideration. One of them is the maximum likelihood ranking, the most common method in statistics and...
Persistent link: https://www.econbiz.de/10011092766
We consider a relational economy in which economic agents participate in three types of relational economic activities: autarkic activities; binary matching activities; and plural cooperative activities. We introduce a stability notion and characterize stable interaction structures, both in the...
Persistent link: https://www.econbiz.de/10011092861