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The Impact of Standard Setting on Individual Investors : Evidence From SFAS 109
Hutchens, Michelle - 2020
We examine the response of individual investors to firms' adoptions of SFAS 109–Accounting for Income Taxes. We predict SFAS 109 (as compared to APB 11) provides new decision-useful information, reducing the information disadvantage of individual investors relative to more sophisticated...
Persistent link: https://www.econbiz.de/10012852974
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The Effects of Reporting Complexity on Small and Large Investor Trading
Miller, Brian P. - 2014
This study examines the effects of financial reporting complexity on investors' trading behavior. I find that more … disclosure, my investigation into the effects of reporting complexity on small and large investors should be of interest to … regulators concerned with reporting clarity and leveling the playing field across classes of investors …
Persistent link: https://www.econbiz.de/10013070774
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How do Individual Investors React to Global IFRS Adoption?
Brüggemann, Ulf - 2012
We examine the impact of global IFRS adoption on cross-border equity investments by individual investors. Our proxy for … following mandatory adoption of IFRS. This effect is more pronounced for attention-grabbing stocks (e.g., stocks experiencing an … increase in media coverage following IFRS adoption). Our results suggest that global IFRS adoption enhances cross-border equity …
Persistent link: https://www.econbiz.de/10013116847
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The Impact of Accounting Standards on Pension Investment Decisions
Barthelme, Christian - 2017
This study analyzes the ‘real' effects of accounting standards in the context of defined benefit pension plans. Specifically, we examine IAS 19R, which increases expected pension-induced equity volatility by eliminating the so-called ‘corridor method', a smoothing device for actuarial gains...
Persistent link: https://www.econbiz.de/10012953175
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Negative Externalities of Financial Reporting Frequency : Peer Reporting Choice and the Loss of Investor Attention
De George, Emmanuel T. - 2019
This study examines whether one firm's choice of reporting frequency generates negative externalities for other firms … when their peers choose to adopt a higher reporting frequency …
Persistent link: https://www.econbiz.de/10012865048
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Post-Earnings Announcement Drift in Spain and Behavioural Finance Models
Forner, Carlos - 2009
Our study examines whether behavioural theories can explain post-earnings announcement drift (i.e., earnings momentum) in the Spanish market. In particular, we test models proposed by Daniel, Hirshleifer, and Subrahmanyan (1998), Hong and Stein (1999), and Barberis, Shleifer, and Vishny (1998)....
Persistent link: https://www.econbiz.de/10013155150
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Earnings autocorrelation and the post-earnings-announcement drift : experimental evidence
Fink, Josef; Palan, Stefan; Theissen, Erik - 2020
Post-earnings-announcement drift (PEAD) is one of the most solidly documented asset pricing anomalies. We use the controlled conditions of an experimental lab to investigate whether earnings autocorrelation is the driving cause of this anomaly. We observe PEAD in settings with uncorrelated and...
Persistent link: https://www.econbiz.de/10012309456
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Analysis of Institutional Investors’ Reaction to the Issuance of SEC's Comment Letters to European IFRS Registrants Versus US GAAP Registrants
Gietzmann, Miles B. - 2013
by US firms or the application of IFRS by European firms registered with the SEC. We investigate whether institutional …. Next, while noting that the number of Letters questioning application of IFRS are smaller in number relative to those … standards. We show that there is a higher probability of the SEC questioning the application of IFRS as compared to US GAAP …
Persistent link: https://www.econbiz.de/10013086477
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Investor Sentiment and Accounting Conservatism
Ge, Rui - 2018
This paper investigates the association between investor sentiment and accounting conservatism. We find that managers recognize economic losses in earnings in a more timely manner during periods of high investor sentiment. Further, the sentiment-conservatism relation is stronger for firms with...
Persistent link: https://www.econbiz.de/10012932575