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An empirical evaluation of accounting income numbers
Accounting theorists have generally evaluated the usefulness of accounting practices by the extent of their agreement with a particular analytic model. The model may consist of only a few assertionsExpand
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EARNINGS QUALITY IN UK PRIVATE FIRMS: COMPARATIVE LOSS RECOGNITION TIMELINESS
Abstract UK private and public companies face substantially equivalent regulation on auditing, accounting standards and taxes. We hypothesize that private company financial reporting nevertheless isExpand
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THE EFFECT OF INTERNATIONAL INSTITUTIONAL FACTORS ON PROPERTIES OF ACCOUNTING EARNINGS
International differences in the demand for accounting income predictably affect the way it incorporates economic income (dividend-adjusted change in market value) over time. We characterize theExpand
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Incentives versus standards: properties of accounting income in four East Asian countries
The East Asian countries Hong Kong, Malaysia, Singapore and Thailand provide rare insight into the interaction between accounting standards and the incentives of managers and auditors. TheirExpand
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Infrastructure Requirements for an Economically Efficient System of Public Financial Reporting and Disclosure
an economically efficient system of public financial reporting (audited accounting information) and disclosure (non-accounting information). Financial reporting and disclosure are complementary meansExpand
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The Role of Accruals in Asymmetrically Timely Gain and Loss Recognition
We investigate the role of accrual accounting in the asymmetrically timely recognition (incorporation in reported earnings) of gains and losses. Timely recognition requires accruals when it precedesExpand
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Anomalies in relationships between securities' yields and yield-surrogates
Abstract A literature survey reveals consistent excess returns after public announcements of firms' earnings. If the information in publicly-announced earnings is a public good, then these resultsExpand
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International Financial Reporting Standards (IFRS): Pros and Cons for Investors
Accounting in shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics (driven by reductions in communications and information processingExpand
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Earnings Quality at Initial Public Offerings
We show that, contrary to popular belief, initial public offering (IPO) firms report more conservatively. We attribute this to the higher quality reporting demanded of public firms by financialExpand
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Earnings Quality in U.K. Private Firms
UK private and public companies face substantially equivalent regulation on auditing, accounting standards and taxes. We hypothesize that private-company financial reporting nevertheless is lowerExpand
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