This study examines the association between levels of annual report voluntary disclosure and the market reaction to the next interim earnings announcement in a market with both low regulation and analyst following. We examine the first order effects of voluntary disclosure by using direct...

Prior studies on whether or not International Financial Reporting Standards (IFRS) adoption improves earnings quality have found mixed results. We note that some of the countries that have adopted IFRS had national accounting standards similar to IFRS prior to adopting IFRS, while others had...

This study provides some market based evidence on the usefulness of comprehensive income disclosures in a Statement of Changes in Equity (SCE). Using a sample of listed New Zealand firms, we find no evidence that separate disclosure of the comprehensive income items provides any value relevant...