We address the question of whether the quality of corporate values contribute significantly to improve the stock performance of banks listed on emerging stock markets in six Latin-American countries (Argentina, Brazil, Chile, Colombia, Peru and Mexico). The corporate values analyzed are ethics,...

More than 120 countries require or permit the use of International Financial Reporting Standards (lsquo;IFRS') by publicly listed companies on the basis of higher information quality and accounting comparability from IFRS application. However, the empirical evidence about these presumed benefits...

Abstract: We use reporting data from 2001 annual reports to construct a single measure of propensity to innovate for each member of a multi-country sample of global financial institutions. The measure proves to be robust when reconstructed from later 2002-2005 annual reports. It is also value...

Investors can generate excess returns by implementing trading strategies based on publicly available equity analyst forecasts. This paper captures the information provided by analysts by the implied cost of capital (ICC), the internal rate of return that equates a firm's share price to the...

Drawing on the academic literature in accounting, finance and economics, we analyze economic and policy factors related to the potential adoption of International Financial Reporting Standards (IFRS) in the U.S. We highlight the unique institutional features of U.S. markets to assess the...

We investigate the association between corporate governance strength and EU listed firms' choices with respect to IFRS adoption in 2005. We measure governance strength by aggregating variables such as board independence, board functioning and audit committee effectiveness. The firms exhibit...

We investigate the role of analysts’ cash flow forecasts in mitigating the accrual anomaly in an international setting. Based on a sample from 20 world market economies, we find less market overestimation of the accrual component of earnings for firms where analysts issue both cash flow...

This monograph provides a thorough review of earnings quality issues and analysis. Its primary objectives are to help gain a deep understanding of earnings quality and facilitate the development of comprehensive, granular, and contextual earnings quality indicators and analyses. While there are...

This study examines whether improved information environment in the OTCQX International market (hereafter QX market) benefits blue-chip foreign private issuers (FPIs). We find that around 600 FPIs traded their stocks in the QX market during 2007-2016, and they are financially better than their...