We examine the combined value relevance of book value of equity and net income before and after the mandatory transition to IFRS in Greece. Contrary to our expectations, we find no significant change in the explanatory power of value relevance regressions between the two periods. The...

Note: This paper has been superseded by Gassen, LaFond, Skaife and Veenman: Illiquidity and Stock Price Synchronicity, lt;a href='http://ssrn.com/abstract=2405465'gt;http://ssrn.com/abstract=2405465lt;/agt;.Much of prior international accounting research implicitly assumes that stock prices...

We provide one of the first empirical evidence consistent with recent macro global-game crisis models, which show that the precision of public signals can coordinate crises (e.g., Angeletos and Werning 2006; Morris and Shin 2002, 2003). In these models, self-fulfilling crises (independent of poor...

This paper outlines the evolution of the information environment surrounding the Warsaw Stock Exchange in Poland. Like other transition economies, Poland's economy needed to develop accounting regulations to support privatization. We trace changes in financial reporting regulation from 1994,...

We investigate whether the use of a high quality auditor and increased regulatory monitoring of Ramp;D reporting influence both the level of Ramp;D expenditure capitalized by Australian companies from 1992 to 2002 and the market's perception of the reliability of these figures. The results...

This study explores the market response to achieving analyst earnings expectations, distinguishing between expectations achieved through earnings forecast guidance and earnings management. We consider three earnings management tools: real earnings management, working capital accruals management,...

This paper presents both a new approach to studying the consequences of accounting choice and a unique sample to examine the effects of accounting choice in the Ramp;D context. We investigate the effect of firms' decision to capitalize Ramp;D expenditures on the amount of information about...

Using a sample from the Shanghai Stock Exchange, this paper analyzes the information content of earnings and book value under two sets of accounting practice: IAS (International Accounting Standards) and Chinese-GAAP (Chinese General Accepted Accounting Principles). The rapid development of the...

This study compares the informational content of accounting earnings reported by Swiss companies under the standards generally accepted in Switzerland and earnings reported under the International Accounting Standards and US GAAP. I examine the relative explanatory power and earnings response...

The main purpose of this study is to investigate whether the likelihood, frequency and information content of conference calls are positively associated with innovation. The study is based on 534 conference calls conducted in 340 firm-years from 1997 to 2001 in Taiwan. Our findings indicate that...