This study seeks first to examine how firms implement impairment tests as required by IAS 36, and second, to explore factors which may explain why some firms are not entirely in compliance with IAS 36. It is based on a survey which includes 58 completed questionnaires representing 73% of the...

We examine what determines executive compensation in privately held firms. Our study is motivated by the fact that most studies in this area rely on data from publicly traded firms. Further, the few studies that are based on data from privately held firms only examine a limited number of...

Drawing upon information economics, this paper presents a relative assessment of 24 of the most common disclosure items in the management commentary and notes sections of the annual report. We design and conduct an Internet survey using a large representative sample of users with an investment...

Over the last three decades, strategic alliance performance has been an important research topic within the international business and management fields. Researchers have investigated a number of factors explaining performance but often find diverging results. Scholars have suggested that one...

This study compares the discounted cash flow approach and an accrual based valuation approach: the residual income model. Given the theoretical equivalence between the residual income and discounted cash flow approaches this, study examines whether it is possible to infer a valuation approach...

Prior studies have found that earnings are relatively more informative than cash flows (e.g. Ali and Pope, 1993; Ali, 1994; Plenborg, 1996). Applying Danish data this study investigates whether the length of the operating cycle is a useful explanation for the superiority of earnings over cash flows in...

This study employs Danish data to examine the empirical relationship between the proportion of managerial ownership and two characteristics of accounting earnings: the information content of earnings and the magnitude of discretionary accruals. In previous research concerning American firms,...

This study provides a more in-depth comparison of the information content of US and Danish earnings than has previously been done. Alford et al. (1993) is essentially the only prior study which has compared the information content of US and Danish earnings. They find that US earnings are...

This paper examines whether the level of voluntary disclosure affects the association between current returns and future earnings. Economic theory suggests that firms might find it advantageous to provide additional pieces of information (i.e. voluntary disclosure) to investors and analysts. Our...