Notes that although previous research has found capital expenditure to be value relevant, there has been no direct evidence that it has a positive linear association with future earnings. Uses 1976‐1989 data from a sample of US manufacturing firms to examine this link and finds that firms do...

Reviews the literature on earnings preannouncements (EPs) and investigates their use as a communication strategy and the difference in investor’s reactions to occasional, regular and one‐off EPs by using 1995‐1997 US data on 1,444 EPs. Finds that in general, market reactions to PSs is...

Outlines previous research on the mutual fund industry and compares the characteristics of the US and European mutual fund markets using the structure‐conduct‐performance paradigm. Shows that the European industry is smaller, with more funds and more emphasis on fixed income, with the UK and...

Outlines previous research on international investment portfolios and presents a study of diversification and hedging on money market, bond and equity funds from UK, US and Japanese investors’ points of view. Explains the methodology, uses 1995‐1998 data to calculate returns and discusses...

Notes that despite moves towards the international harmonization of accounting standards, some important differences remain between UK and US generally accepted accounting principles which affect the comparability of their financial statements. Outlines the development of the UK accounting...