This study examines the impact on the comparability of earnings of two important events that occurred in 2005 in the Scandinavian region: the European Union-mandated adoption of International Financial Reporting Standards (IFRS) and the mergers between the three national exchanges of Denmark,...

In the first chapter, this study develops a new firm-level conservatism measure from the Basu (1997) model and then examines the consistency and validity of the new conservatism measure and two extant firm-level conservatism measures, Beaver and Ryan's (2000) and accruals-based approaches....

Using a sample consisting of firms from 20 countries, we investigate whether conditional conservatism affects the value relevance of accounting earnings. We find that the association of conditional conservatism with the value relevance of accounting earnings depends on the country-specific level...