Using a method that avoids the need to specify earnings expectations (Ball and Shivakumar 2008), we demonstrate that the period surrounding the semi-annual announcement of Australian firms’ earnings is, on average, an important source of information. Although there is substantial year-to-year...

Between 1982 and 1987, the Australian audit market experienced an increase in price competition resulting from changes in professional rules governing advertising and marketing practices as well as the introduction of widespread audit tendering. Because these changes are generally assumed to...

We conduct a detailed examination of the accrual anomaly in Australia using a trading strategy research design. Our primary contribution is to show how sensitive the results are to the precise research design specifications. We focus on four key areas of importance in designing such tests....

We seek to understand the ever-increasing push towards the international harmonization of accounting standards and particularly the inexorable rise of standards produced by the International Accounting Standards Board (IASB). While the primary justifications for the increasing recognition given...

Initial Public Offers (IPOs) made on the Stock Exchange of Singapore routinely provide sufficiently detailed data to allow reconstruction of both the application and allocation schedules. We show that large investors tend to preferentially request participation in IPOs with higher initial...

This study tests the relative prices of exchange traded puts and calls. Some evidence of violation of the parity conditions are found, particularly in the period immediately prior to expiry of the options and in instances where the exercise price exceeds the market price of the underlying stock....