The purpose of this report is to gain an understanding of the financial reporting requirements for companies whose … of the local securities market regulator in respect of financial reporting of listed companies specifically. Questions …: overview of the securities exchange and market; securities market regulation; financial reporting requirements for listed …

I argue that external financial reporting quality has at best a 2nd order effect on firm value of U.S. publicly traded … companies and that attempts to improve a firm's external reporting quality has a 3rd order effect on these firms' value …. Recognizing that external financial reporting quality is at best a 2nd order effect on firm value imposes an important external …