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Mandatory IFRS Reporting and Stock Price Informativeness
Joos, Philip; Beuselinck, C.A.C.; Khurana, I.K.; van … - Tilburg University, Center for Economic Research - 2010
In this paper, we examine whether mandatory adoption of IFRS influences the flow of firm-specific information and … IFRS adopters in 14 EU countries for the period 2003-2007, we find a V-shaped pattern in synchronicity around IFRS adoption …, which is consistent with IFRS disclosures revealing new firm-specific information in the adoption period (i.e., a reduction …
Persistent link: https://www.econbiz.de/10011090958
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Mandatory Adoption of IFRS and Analysts’ Forecasts Information Properties
Joos, Philip; Beuselinck, C.A.C.; Khurana, I.K.; van … - Tilburg University, Center for Economic Research - 2010
This study examines the properties of the information contained in analysts’ earnings forecasts for mandatory IFRS … information after switching to IFRS, especially for forecasts pertaining to 2006 and later. However, we are unable to detect a … change in the consensus among financial analysts after the mandatory adoption of IFRS. These results suggest that the higher …
Persistent link: https://www.econbiz.de/10011091872
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Explaining Foreign Holdings of Asia’s Debt Securities
Horioka, Charles Yuji; Hagiwara, Akiko Terada-; Nomoto, … - Office of Regional Economic Integration, Asian … - 2014
In this paper, we analyze data on trends since 2000 in foreign holdings of government securities and other debt securities, with emphasis on Japan and developing Asia. We find that foreign residents generally increased their holdings of Asian debt securities during the sample period and in...
Persistent link: https://www.econbiz.de/10010992316
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Why has Japan’s Massive Government Debt Not Wreaked Havoc (Yet)?
Horioka, Charles Yuji; Nomoto, Takaaki; … - School of Economics, University of the Philippines at … - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...
Persistent link: https://www.econbiz.de/10010856151
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The Commitment Role of Equity Financing
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - CESifo - 2014
Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...
Persistent link: https://www.econbiz.de/10010877665
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Firm-specific, industry-wide and country-wide determinants of corporate capital structure
Eldomiaty, Tarek Ibrahim; Badawy, Ahmed; Fikri, Ahmed - In: International Journal of Economics and Business Research 8 (2014) 1, pp. 93-124
This study examines the relative speed of adjustments of debt ratios and explanatory powers of three groups of determinants of capital structure: firm-specific, country-wide and industry-wide. The sample includes non-financial firms listed in the DJIA and NASDAQ for quarterly periods 1992-2010....
Persistent link: https://www.econbiz.de/10010884850
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Debt financing among native- and immigrant-owned firms: empirical evidence from Swedish small business at start up stage
Yazdanfar, Darush; Abbasian, Saeid - In: World Review of Entrepreneurship, Management and … 10 (2014) 4, pp. 422-434
This paper provides evidence on ethnic differences in bank debt financing among small Swedish firms at the start-up stage. The empirical analysis is carried out on a sample of small firms consisting of 2,814 native- and immigrant-owned firms for year 2008. The method of binary logistic...
Persistent link: https://www.econbiz.de/10010944879
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The Role of Information Asymmetry in Financing Methods
Salehi, Mahdi; Rostami, Vahab; Hesari, Hamid - In: Managing Global Transitions 12 (2014) 1 (Spring), pp. 43-54
There is no doubt that new investments are the cornerstone of progress and competition in today’s world. Different financing instruments are employed to secure the funds for these investments. The most common financing methods in Iran are debt and equity financing. Some investors, including...
Persistent link: https://www.econbiz.de/10010929471
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Cambodia; 2006 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Cambodia
International Monetary Fund (IMF); International … - 2006
Cambodia achieved macroeconomic stability underpinned by prudent fiscal and monetary policies. Executive Directors commended this development. They welcomed the National Strategic Development Plan for reducing poverty, enhancing physical infrastructure, and improving social services. They...
Persistent link: https://www.econbiz.de/10011244620
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Rwanda; 2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Perf...
International Monetary Fund (IMF); International … - 2009
The staff report for Rwanda’s combined 2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Performance Criterion is examined. Sound macroeconomic and structural policies...
Persistent link: https://www.econbiz.de/10011244841