The Information Content Of Annual Earnings Announcements And Mandatory Adoption Of Ifrs PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Information Content Of Annual Earnings Announcements And Mandatory Adoption Of Ifrs PDF full book. Access full book title The Information Content Of Annual Earnings Announcements And Mandatory Adoption Of Ifrs.
Author | : Wayne R. Landsman |
Publisher | : |
Total Pages | : 59 |
Release | : 2012 |
Genre | : |
ISBN | : |
Download The Information Content of Annual Earnings Announcements and Mandatory Adoption of IFRS. Book in PDF, ePub and Kindle
This study examines whether the information content of earnings announcements--abnormal return volatility and abnormal trading volume -- increases in countries following mandatory IFRS adoption, and conditions and mechanisms through which increases occur. Findings suggest information content increased in 16 countries that mandated adoption of IFRS relative to 11 that maintained domestic accounting standards, although the effect of mandatory IFRS adoption depends on the strength of legal enforcement in the adopting country. Utilizing a path analysis methodology, we find evidence of three mechanisms through which IFRS adoption increases information content: reducing reporting lag, increasing analyst following, and increasing foreign investment.
Author | : Pureum Kim |
Publisher | : |
Total Pages | : 39 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Information Content of Earnings Announcements Around IFRS Adoption and a Simultaneous Change in Press Release Disclosure in Italy Book in PDF, ePub and Kindle
This study investigates the effect of a security regulation that occurs concomitantly with International Financial Reporting Standards (IFRS) adoption on the information content of earnings announcements in Italy. To identify the effect of this regulation, we use a treatment (i.e., Italy) and a benchmark sample of IFRS countries that vary in the adoption of the security regulation, but are similar to Italy along a set of institutional dimensions. We find that the information content of earnings announcements increases after year 2005. This increase, however, is more pronounced in Italy. Corroborating the effects of the security regulation, we hand-collect and analyze non-earnings disclosures in 2,106 earnings announcement press releases. Our findings suggest that the inclusion of detailed IFRS financial statements in earnings announcements increased significantly only in Italy, and this explains the increased informativeness of IFRS earnings announcements. Our findings contribute to the recent literature suggesting that there are other complementary changes concurrent with IFRS that are necessary to confer capital market benefits.
Author | : Gordon Douglas Richardson |
Publisher | : Ann Arbor, Mich. : University Microfilms International |
Total Pages | : 350 |
Release | : 1983 |
Genre | : Accounting |
ISBN | : |
Download A Theoretical and Empirical Investigation of the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
Author | : Shahid Khan |
Publisher | : |
Total Pages | : 0 |
Release | : 2014 |
Genre | : |
ISBN | : |
Download Do IFRS Based Earnings Announcements Have More Information Content Than Canadian GAAP Based Earnings Announcements? Book in PDF, ePub and Kindle
Using event study methodology in a Canadian setting, this paper investigates whether the information content of earnings announcements increased for Canadian Venture Exchange (TSXV) firms and Toronto Stock Exchange (TSX) firms following mandatory adoption of international financial reporting standards (IFRS) in Canada. Comparing the two exchanges is interesting because there is generally more information asymmetry between investors and TSXV firms than between investors and TSX firms. A priori, it may be argued that there would be higher information content in the IFRS based earnings announcements for both TSXV and TSX exchange firms in Canada as compared to the Canadian GAAP based earnings announcements because IFRS allows greater flexibility to provide relevant information. If IFRS enables higher transfer of information through earnings announcements, this may benefit investors in TSXV firms more than investors in TSX firms. However, the additional flexibility to provide relevant information in the IFRS-based annual earnings announcements might reduce reliability by increasing uncertainty in the information of the earnings announcements. Our findings indicate that the information content, measured by abnormal stock return volatility and abnormal trading volume during the announcement period, decreased following the adoption of IFRS for both TSXV firms and TSX firms. The results of this study are relevant for US policy makers in their decision to implement IFRS.
Author | : Mark L. DeFond |
Publisher | : |
Total Pages | : 46 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download Investor Protection and the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
We draw on the investor protection literature to identify structural factors in the financial reporting environment that are likely to explain cross-country differences in the information content of annual earnings announcements. Using data from over 50,000 annual earnings announcements in 26 countries, we find that annual earnings announcements are more informative in countries with higher quality earnings or better enforced insider trading laws, and that annual earnings announcements are less informative in countries with more frequent interim financial reporting. We also find that, on average, earnings announcements are more informative in countries with strong investor protection institutions.
Author | : Edward Bradley Grant |
Publisher | : |
Total Pages | : 296 |
Release | : 1977 |
Genre | : Corporations |
ISBN | : |
Download Interim Information and the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle
Author | : Ulf Brüggemann |
Publisher | : Springer Science & Business Media |
Total Pages | : 162 |
Release | : 2011-08-31 |
Genre | : Business & Economics |
ISBN | : 3834969524 |
Download Essays on the Economic Consequences of Mandatory IFRS Reporting around the world Book in PDF, ePub and Kindle
Ulf Brüggemann discusses and empirically investigates the economic consequences of mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS.
Author | : Kunio Ito |
Publisher | : Springer |
Total Pages | : 337 |
Release | : 2014-07-08 |
Genre | : Business & Economics |
ISBN | : 4431547924 |
Download International Perspectives on Accounting and Corporate Behavior Book in PDF, ePub and Kindle
Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting systems are deeply intertwined with each country’s unique institutions such as its corporate system, disclosure practices and enforcement mechanisms. First, this book empirically analyzes the effects of globalization and localization of accounting rules on corporate behavior such as earnings management, signaling, investment behavior and dividend payout policy. Second, the book unravels the economic consequences of disclosure based on the concept of self-disciplining enforcement such as management forecasts, environmental disclosures and risk disclosures by Japanese firms. This volume is a step forward in understanding the link between accounting and corporate behavior based on a new institutional accounting approach.
Author | : Jennifer Francis |
Publisher | : Now Publishers Inc |
Total Pages | : 97 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 1601981147 |
Download Earnings Quality Book in PDF, ePub and Kindle
This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author | : Andrews Oppong |
Publisher | : |
Total Pages | : 139 |
Release | : 1976 |
Genre | : Corporation reports |
ISBN | : |
Download Cross-sectional Differences in the Information Content of Annual Earnings Announcements Book in PDF, ePub and Kindle