This study addresses how a stock market prices earnings components around a sudden and severe economic downturn. In particular, the study examines the market valuation of discretionary accruals for debt renegotiating Malaysian firms during the Asian financial crisis. Our analysis shows that...

The adoption of IFRS around the globe has stimulated empirical research that investigates the financial reporting and capital market effects associated with an accounting regime change. These studies differ in their analysis period, jurisdictional setting, and research design, and they report...

In this paper, we examine the economic, political, and legal systems as well as the institutional factors that influence the accounting and disclosure practices in Ghana. The impact of International Financial Reporting Standards (IFRS) on disclosure is also investigated, as Ghana has recently...