The association between stock returns and foreign GAAP earnings versus earnings adjusted to U.S. GAAP

@inproceedings{Chan1996TheAB,
  title={The association between stock returns and foreign GAAP earnings versus earnings adjusted to U.S. GAAP},
  author={Kam Che Chan and Gim Seow},
  year={1996}
}
Abstract This study examines the association between stock returns and foreign GAAP earnings versus earnings adjusted to U.S. GAAP. Using a sample of foreign firms with common stock or American Depositary Receipt (ADR) traded in U.S. exchanges, we compare the returns-earnings relations between U.S. and foreign GAAP-based earnings. Results based on the JA test indicate that earnings based on foreign GAAP are more closely associated with contemporaneous stock returns than earnings reconciled to U… CONTINUE READING

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