This paper examines how mandatory quarterly reporting affects managers' business decisions in terms of real activities manipulations. For our analyses, we use the setting of the European Union, where the reporting frequency was increased with the introduction of a mandate to issue Interim...

This study investigates recent reforms in financial reporting enforcement in Germany. The objective of these reforms was to promote a consistent and faithful application of accounting standards. Using a differences-in-differences approach, we find some evidence of a decrease in earnings...

This paper critically examines the impact of voluntary adoption of Internationally Accepted Accounting Principles (IAAP, i.e. IAS/IFRS and US GAAP) on the cost of equity capital in Germany. We find that (1) overall cost of equity capital estimates in the Capital Asset Pricing Model (CAPM) for...