The aim of this study is analyzed empirically the effect that annual earnings announcementshave in market value and the trading volume of shares on the Spanish Stock Market for the periodbetween 1999 and 2001. With the finality to accomplish a more complete analysis, is examined theactual...

This paper analyses the intraday reaction of the Spanish market to annual earnings announcements. Specifically, we examine the levels of stock liquidity, trading activity, volatility, and asymmetric information, as well as the order placement strategy around earnings disclosures. We also analyse...

Most of studies which have analysed the topic of accounting systemclassification have been based on explanatory variables such as the socio-economicenvironment or accounting practices to both, measure and disclosure the financialinformation. This investigation does not take these concepts into...

We investigate whether limited investor attention is a factor in the effectiveness of institutional shareholder activism. Prior research has shown that an inability of market participants to allocate sufficient intellectual effort to the investment decision can have an impact on market price and...

Purpose – Advocates of greater intangible asset reporting frequently make the criticism that the published financial statements of companies do not adequately reflect the value of intangible assets and hence provide potentially misleading information to the users of the financial statements....

Purpose – The purpose of this paper is to highlight some of the political aspects of sovereign wealth fund investment. Design/methodology/approach – The paper employs a case study approach, bringing together various news articles and reports from around the world to build a picture of the...