In some industries the financial-year-ends of member firms are clustered together whereas in others they are more widely dispersed. This study attempts to provide an explanation for this phenomenon. Recognizing thatfinancial-year-ends are not just the time when firms disclose information but...

This study examines the motives for asset revaluations in a sample drawn from 35 countries that permit asset revaluations. Prior studies that examined this issue concentrated on one or two countries, the UK and Australia, and showed that revaluations are related to financing needs, the capital...