Foreign firms cross-listing in the U.S. benefited from increased accounting quality and valuation stemming from the historically more stringent accounting and regulatory environment in the U.S. compared to their home markets. Auditors of these foreign firms, also facing this more rigorous...

This paper examines the effect of Korea's fair disclosure regulation on the timeliness and informativeness of earnings announcements. The present regulation for Korean listed firms requires that if a company's sales revenue, operating income (or loss) and net income (or loss) have changed by...