Dass Rechnungslegungsinformationen Einfluss auf die Kursbildung von Aktien ander Börse nehmen, wird unter theoretischen Gesichtspunkten häufig unterstellt. Empirischwird dieser Zusammenhang mittels verschiedener Ansätze untersucht, diediversen Kritikpunkten ausgesetzt sind.1 Insbesondere die...

Since 1993, an increasing number of listed German companies have been publishing their consolidated financial statements in accordance with either IFRS or US-GAAP. From 1998 on, this has been approved as a substitute for the consolidated German-GAAP financial statements of listed companies (§...

With the adoption and spreading use of IFRS, controllership as part of the overallaccounting and finance function in German-speaking countries has been subject tofundamental changes. From a conceptual point of view, IFRS-based financialaccounting systems have a twofold impact on controllership:...

Vorliegende Dissertation vergleicht die Rechenlegung von Deutschland und Finnland.

This paper investigates whether firms employing IAS or US GAAP exhibit measurable differences in proxies for information asymmetry and market liquidity. Sample firms are drawn from the "New Market" at the Frankfurt Stock Exchange. All firms listed in this market segment are required to provide...

Economic theory suggests that a commitment by a firm to increased levels of disclosure should lower the information asymmetry component of the firm’s cost of capital. But whi le the theory is compelling, so far empirical results relating increased levels of disclosure to measurable economic...

If German tax law was a river flowing over all businesstransactions and commercial accounting, thelast words of Norman Maclean in A River Runs ThroughIt best suit the traditional relationship between commercialand tax accounting. For more than 100 yearsthe principle of strict book-tax conformity...

Internationale Rechnungslegung, noch vor ein paar Monate das Non-Plus-Ultra in der Bilanzierungspraxis,hat in den Monaten seit dem Skandal um den US-amerikanischen Energiehändler ENRON tiefeSchrammen in der schillernden Fassade erhalten. Zumal ENRON nicht das einzige Unternehmen ist,dass sich...

Residual income valuation is based on the assumption that the clean surplusrelation holds. As pointed out by Ohlson (2000), among others, the standardclean surplus relation is frequently violated. Moreover, standard residualincome valuation models rest on the implicit assumption that future...