This study examines whether accruals models' performance, in terms of predictive accuracy and power to detect earnings management, varies across strongly heterogeneous samples, such as different countries. We analyze the performance of two accruals estimation models, i.e., the Modified Jones...

This report consists of two parts. The first part is a research note describing a comprehensive analysis of the realized return differential between small and large firms (i.e., the "size premium") in a sample of European stocks during the period between 1990 and 2018. This study establishes...

This study examines the effect of firm-level transparency on liquidity and trading in a multi-market setting, using the market for American Depository Receipts (ADR) as an example. Theory predicts competing effects of transparency on liquidity differences between stocks trading domestically and...