In December 2007 the SEC issued a formal rule release that allows foreign-private issuers that employ the IFRS to file their financial statements without providing a reconciliation to U.S. GAAP. While the rule change was made after the SEC received and analyzed comments from various constituents...

In this paper we conjecture that the weak association between disclosure and cost of equity capital found in the literature (Botosan, 1997) can be caused by the high level corporate disclosure environment found in the US. We hypothesize that in low level corporate disclosure environments the...

A regulatory approved Deed of cross guarantee (the Deed), introduced into Australia in December 1991, exempts nominated companies (the closed group) from having to prepare, have audited, and file financial statements. We examine the characteristics of firms that obtain relief from filing (and...

Foreign operations are becoming increasingly important for U.S. companies. We investigate whether the market's valuation of foreign earnings is a function of the firm's geographic segment disclosures. Specifically, we examine the effects of an increase in the number of geographic segments...

The introduction of IFRS in Europe was intended to improve accounting quality and facilitate cross-border financial transactions. This study examines whether IFRS increases value-relevance of corporate disclosure using traders' response in financial markets of 15 EU countries. If the regulatory...

This paper examines the 2005 financial disclosure for Evans and Tate Limited and its controlled entities. The first section of the paper examines the composition of the group, group profit, group taxation, and the impact of IFRS. One key finding is there is no estimate by the company as to the...

Over the past decade, Romania's political, economic and social life where subordinated to one major objective: the transition from the pre-1990 centrally planned economic system to a market economy in the context of EU enlargement. The effective conduct of business is an issue of general...

Previous studies have shown that financial accounting information produce economic effects, as a result of its role in reducing information asymmetry in capital markets. Recent theories sustain that the level of value-relevance of a country's accounting information is directly related to...

Past accounting research contains an extensive range of disclosure and determinants studies. But these studies have one major methodological drawback: the disclosure analysis is often restricted to determination of the disclosure index, i.e. the sum of disclosed items, weighted or unweighted....

We re-examine prior studies' findings concerning the effects of Regulation Fair Disclosure (Reg FD) on properties of US firms' information environments. Our study's innovation is the identification of a sample of industry- and size-matched foreign listed firms (ADRs) explicitly exempt from the...