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Advisor(s)
Abstract(s)
This paper reports evidence on cross-border accounting information transfers associated with profit warning announcements. Using a sample of firms from 29 European countries, we find that negative earnings surprises disclosed by firms in one country affect investors' perceptions of comparable non-announcing firms in other countries. The form and magnitude of cross-border effects is consistent with domestic transfers. Tests explaining variation in cross-border information transfers provide some (albeit rather limited) evidence that effects vary according to a range of firm-, industryand country-level characteristics.
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Pedagogical Context
Citation
ALVES, Paulo; POPE, Peter F.; YOUNG, Steven - Cross-border information transfers: evidence from profit warnings issued by European firms. Accounting and Business Research. ISSN 0001-4788. Vol. 39. nº. 5 (2009), p. 449-472
Publisher
Institute of Chartered Accountants in England and Wales