This paper investigates the effect of fair value reporting and its attributes on audit fees. We use as our primary sample the European real estate industry around mandatory IFRS adoption (under which reporting of property fair values becomes compulsory), due to its unique operating and reporting...

Beginning in 2005, the EU began requiring consolidated financial reports of publicly traded firms to be prepared in accordance with EU-endorsed International Financial Reporting Standards (IFRS) in an effort to increase the comparability of financial information across EU Member States. While...

Accounting-based capital maintenance is a traditional feature of the Continental-European system of creditor protection, serving as a correlative of the limited liability enjoyed by shareholders of corporations. Due to recent developments at the EU regulatory level, this system has come under...

This study analyzes the ‘real' effects of accounting standards in the context of defined benefit pension plans. Specifically, we examine IAS 19R, which increases expected pension-induced equity volatility by eliminating the so-called ‘corridor method', a smoothing device for actuarial gains...

This study investigates the effect of extreme uncertainty on disclosure behavior by analyzing the quality and quantity of forward-looking disclosures during the global financial crisis and pre-crisis periods, controlling for other determinants of disclosure behavior. Prior research has struggled...

We study the reputational costs of targeted disclosure regulation – disclosure requirements aimed at policy objectives outside of securities regulators' traditional missions. This emerging type of disclosure regulation empowers civil society to deter firms' illicit actions. Our setting is the...

This paper reviews research evidence on the usefulness of fair value measurement of long-lived operating assets for financial reporting. Although economically material, these assets have been sidelined in the current fair value debate that largely centers on financial assets, from which...