While the asymmetric timeliness (AT) measure of Basu (1997) underpins a large body of empirical research on conditional conservatism (CC), prior studies have demonstrated that it is biased and could lead to Type 1 error. To assess how this bias could affect inferences from prior literature, we...

We examine the potential for IFRS to influence the market for SEOs in the UK and France. The divergence between the UK domestic accounting standards and IFRS is minor (low-divergence firms) whereas domestic accounting standards in France differ materially from IFRS (high-divergence firms);...

We exploit the mandatory adoption of International Financial Reporting Standards (IFRS) as a source of exogenous shock to the corporate financial information environment to study the potential effect that this information shock might have on the dividend payout policy and dividend value...

We re-examine previous seminal studies on conditional conservatism (CC) that apply the asymmetric timeliness (AT) measure of Basu (1997) and compare the outcomes with those based on the modified AT (MAT) measure of Badia, Duro, Penalva, & Ryan (2021) and the spread in conditional variances (SCV)...

We document accounting quality improvements following voluntary IFRS adoption.However, we find no evidence of such improvements subsequent to mandatory adoptionby firms that resist IFRS adoption. We exploit a unique setting in Germany where firmscould voluntarily adopt IFRS before mandatory...