Summarizes the effects of globalization on financial markets, and the need for accounting practices to keep up with it. Criticizes the Financial Accounting Standards Board Exposure Draft “Accounting for derivatives and similar financial instruments and for hedging activities” for not...

Studies the characteristics, control and performance of joint ventures producing a model based on four cases. Explains the theory of complementary strategic objectives, and the need for delineating specific transaction costs and management controls under differing cultures. Interviews managers...

Explains why financial analysts could find it useful to separate past earnings into discretionary accruals and earnings before discretionary accruals; referring to related research to develop hypotheses on the effects of both on the change in analysts’ earnings forecasts for the subsequent...

Outlines previous research on the relationship between stock returns and earnings and investigates the effects of divergence between security analysts’ earnings forecasts on this relationship. Uses cross‐sectional analysis, time series and variable parameter models on 1981‐88 US data to...

Refers to previous research on the accuracy of financial analysts’ earnings forecasts and explores the differences in accuracy for loss making and non‐loss making firms using 1985‐1993 US data. Finds an optimistic bias for both types of firms (smaller for more recent forecasts); which is...

Traces the growth of US foreign direct investment (FDI) in India and the changing attitude of the Indian government towards it as part of its liberalization programme. Reviews previous research on the determinants of FDI and uses regression analysis on 1962‐1994 data to identify the factors...

Outlines previous research on the impact of US Federal Reserve policies on market interest rates and returns; and the relationship between interest rates and market returns. Investigates these effects over three time periods: Sept 1974‐Oct 1979 (interest rate targeting through the federal...

Reviews previous research on the announcement effects of changes in US Federal Reserve policies and presents a study of the impact of federal funds rate and discount rate changes since the current chairman took office (1988) on the treasury bills/bonds and stock markets. Uses event study...