Using a sample from the Helsinki Stock Exchange, this paper analyses the information content of dual disclosures of IAS (International Accounting Standards) and LAS (Local Accounting Standards) earnings. Their information content to foreign and domestic shareholders can be distinguished from...

Little empirical research has been focused on analysing the information content of consolidated versus parent-only earnings numbers. In most European countries corporate annual reports include parent company statements, whereas in the USA only consolidated financial statements are available to...

Using data for a sample of listed Finnish firms for 1995-97 this paper examines the coincidence of reported cash flows with corresponding cash flows estimated from income statement and balance sheet data. The issue is important in light of prior empirical studies that have analysed the...

Finnish firms are known to manage earnings downwards to avoid income taxes. This study suggests that they simultaneously manage earnings upwards in a smaller scale. The idea behind this behaviour is that humans may perceive a profit of, say, 301 million as abnormally larger than a profit of 298...