In this paper, we provide novel evidence of shareholder value creation in European bank M&As. We show that since 2009, bidders realize approximately 3% higher abnormal returns compared to the previous years; the returns being accompanied by significant improvements in long-term profitability....

We test for stochastic long memory in the Greek stock market, an emerging capital market. The fractional differencing parameter is estimated using the spectral regression method. Contrary to findings for major capital markets, significant and robust evidence of positive long-term persistence is...

This study presents an empirical investigation of the UK stock market response to the im-plementation of the UK Statement of Standard Accounting Practice (SSAP) No. 20 “Foreign Cur-rency Translation” (issued in April 1983). Such an empirical investigation has not yet been under-taken for the...

Purpose – To provide a framework of accounting policy choice associated with the timing of adoption of the UK Statement of Standard Accounting Practice (SSAP) No. 20, “Foreign Currency Translation”. The conceptual framework describes the accounting policy choices that firms face in a...

Purpose – While the Greek GAAP is stakeholder-oriented and commonly viewed as a historical cost accounting model, IFRS is shareholder-oriented and generally perceived as a fair-value accounting model. The study seeks to investigate the effects of adopting IFRSs on the financial statements of...