This paper uses the traditional event study method to examine the information content of annual Danish earnings announcements. Using data from 1999-2001 we find abnormal volatility in the days surrounding the earnings announcements, indicating that the announcements do in fact contain...

The Russian Finance Ministry has announced that Russia will adopt International Financial Reporting Standards (IFRS) as of January 1, 2004, one full year ahead of the European Union. This move is intended to give Russian financial statements more credibility in international capital markets. The...

Output per worker varies significantly from one country to another. Why? Our analysis shows that differences in earnings opacity are important sources of this variation. Earnings opacity is a measure that reflects how little information there is in a firm's earnings number about its true, but...

This paper is an investigation of the relationship between earnings opacity in 32 countries and elements of the political order. What the picture shows is a clear manifestation of earnings opacity internationally. What is interesting with this picture is the findings that earnings opacity is...

After the accounting scandals that have taken place mainly in the United States during the last years, some Spanish leading authorities have defended the idea that these kind of accounting problems cannot happen in Spain. They argue that accounting regulation in Europe, and specifically in...

Earnings management by acquirers ahead of share for share bids may affect whether a bid succeeds, and hence which management team controls the target's assets, as well as the distribution of gains between target and acquirer shareholders. This paper tests for such earnings management for the UK,...

Accounting scholars and policy makers have expressed concern about the quality of accounting data. Because earnings and capital management practices alter the information content of accounting statements, we ask whether a transparent smoothing device such as the statistical provision - a...

This study investigates if the level of discretionary accruals (DAs) is different for companies whose corporate governance level is certified by Bovespa compared to those ones that are not. And also for companies whose stocks negotiated at Bovespa have high liquidity compared to the ones with...

This study investigates whether corporate governance characteristics, mandated by the Corporate Governance Best-Practice Principles (CGBPP) for companies listed in Taiwan, are associated with earnings management. In particular, we examine whether the independence, financial expertise, and...

Our study analyzes financial reporting data on earnings management from a rapidly changing economy - the PRC. Some Chinese regulatory reforms allow for an easy identification of incentives to engage in both accounting and real earnings management activities. In addition, straightforward economic...