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...

Notes rapid growth in the number of depositary receipt (DR) listings on US exchanges and presents a study of those from East Asia. Explains how they allow US investors to trade in the equity or debt of non‐US companies through US institutions and reviews the relevant literature. Classifies 605...

Explains that Canada is currently deciding whether to harmonize with US or international accounting standards and whether to allow Canadian SEC registrants to file their financial statements using US standards, outlines previous research on the information content of US/Canadian differences and...

Reviews previous research on the impact of changes in exchange rates on firm value and develops hypotheses on the effect of exchange rate exposure on US pharmaceutical firms 1990‐1999. Tests them using data from 523 firms (21 producing proprietary drugs and 32 generic) splite into two...

Summarizes previous research on the links between multinationality and earnings persistence and presents a study which applies the autoregressive, integrated, moving‐average time series model to 1990‐1999 data on the largest US multinationals. Explains the methodology and presents the...

Refers to previous research on the firm characteristics which affect the relationship between unexpected returns and unexpected earnings to suggest that multinationality may proxy for all of them. Develops mathematical models to investigate the effect of multinationality and applies them to...