After the accounting scandals that have taken place mainly in the United States during the last years, some Spanish leading authorities have defended the idea that these kind of accounting problems cannot happen in Spain. They argue that accounting regulation in Europe, and specifically in...

Discount rate selection represents a centrally material factor impacting valuation models. Given the strong reliance on discounted cash flow modelling as a basis for determining an assets recoverable amount, the judgement exercised by reporting entities regarding rate selection is of paramount...

Although tax values of corporate assets and liabilities can be relevant for economic decisions, they are typically unknown to financial statement users. Tax values permit to conduct empirical studies about exercise of IFRS and tax options. Furthermore, the level of tax loss carryforwards and tax...

This paper assesses current regulatory and accounting developments in the OECD area against their purported goals. It specifically considers the different approaches to valuing pension liabilities and questions the possibility of convergence between funding and business accountants' valuation...

Using a large sample of earnings announcements made by firms belonging to Korean chaebols, we examine propping (i.e., negative tunneling) within a chaebol. Consistent with the market's ex-ante valuation of intra-group propping, we find that the announcement of increased (decreased) earnings over...

We complement recent research (Ball et al. 2003) which suggests that country-level incentives (i.e. legal origin and the level of capital market development) are the main determinants of the quality of financial reporting. Using a newly developed Brazilian Corporate Governance Index (BCGI) we...

We examine the characteristics of accounting numbers using a sample of German companies reporting under IAS (2000-2002), and IFRS (2003-2004) and (2005-2006). We investigate the change in accounting quality during these time periods as IASB revises and issues new standards. Contrary to...

In the last years banks and firms relationship in Italy has experienced deep changes due to a new revised national and international regulation and to an increasing globalization of economic environment. These evolutions imply a new bank-firm relationship with a deeper disclosure, in a...

We investigate the comparability of accounting earnings for 14 EU countries in the period 1990-2005. Although prior studies have documented international differences in financial reporting properties, there is hardly any large-scale international evidence on the underlying fundamentals driving...

In 1980, Chile privatized its social security system, and currently there are five private pension funds managing approximately US$83 billion worth of retirement investments. The regulations provide for pension funds to appoint a member to the board of directors, and influence the appointment of...