This paper examines the roles comparability and transparency play in the relation between IFRS adoption and foreign direct investment (FDI). In this study, I disentangle the impact of transparency and comparability through the use of a natural experiment resulting from Mexico's adoption of IFRS...

Recent crisis has shown the failure of capital markets in satisfying the liquidity needs of agents. As a consequence, the Basel Committee on Banking Supervision is now paying attention to the matter of Liquidity Risk introducing provisions banks must comply with, in order to promote short-term...

The recent financial collapse of Enron and other corporate powerhouses as well as the demise of accounting firm Arthur Andersen brings into question the credibility of the auditor's role in corporate governance. This article comments on the harmonization of accounting standards within the...

In this paper we present an index designed to capture differences between countries in relation to the institutional setting for financial reporting, specifically the auditing of financial statements and the enforcement of compliance with each country's accounting standards. The adoption of...

Regulations that limit dividend payouts, made by limited liability companies in order to safeguard the interests of creditors, represent important legal constraints as they ensure a minimum level of protection. Hereby, this task, which is performed in Germany by annual financial statements...