Download Disclosure Behavior of European Firms around the Adoption of by Michael H. R. Erkens PDF

By Michael H. R. Erkens

Michael Erkens analyzes the determinants and outcomes of knowledge disclosure. He offers an empirical research of company probability administration disclosures of approximately four hundred companies from 20 eu nations. the consequences express that international locations’ institutional settings and cultural values are principal elements why corporations reveal details on their hazard administration practices. In one other examine, the writer analyzes the industrial outcomes linked to the e-book of an annual record in English by way of eu organisations from non-English talking international locations. He reveals that the discharge of English annual stories draws extra analysts and overseas traders to the enterprise, and reduces info asymmetries among insiders and outsiders of the firm.

Show description

Read or Download Disclosure Behavior of European Firms around the Adoption of IFRS PDF

Best european books

High-Yield-Anleihen: Perspektiven für die Risikofinanzierung deutscher Unternehmen

In Deutschland erfolgte die Ausstattung junger Wachstumsunternehmen mit Risikokapital bisher primär über das Bankensystem. Eine direkte Kapitalaufnahme über Anleihen spielte eine untergeordnete Rolle. Im Vergleich mit dem US-amerikanischen Finanzsystem zeigt Jobst Müller-Trimbusch, dass High-Yield Anleihen für junge Unternehmen ein effizienteres Finanzierungsinstrument als kurzfristige Bankkredite darstellen.

STAIRS 2014: Proceedings of the 7th European Starting AI Researcher Symposium

Synthetic Intelligence is a box which keeps to extend and strengthen quickly, and so it's also one during which unique principles and clean views are of specific curiosity. The beginning AI Researcher Symposium (STAIRS) is a global assembly which helps Ph. D. scholars and people who have held a Ph.

Extra resources for Disclosure Behavior of European Firms around the Adoption of IFRS

Sample text

5%). However, intraindustry variation in the proportion of ARE could explain this finding. 3% for the whole universe. Firms that adopt an ARE seem to lever funds either through equity or debt offerings more frequently than other firms. 8%) for all firms. The proportion of future equity increases differs statistically and economically across sub-samples, whereas the proportion of future debt increases is statistically indistinguishable. To summarize, ARE adopters are smaller, have more growth opportunities, lower international sales and more funding needs than the average listed firm in their respective countries.

409), showing that there is no difference for the control sample before and after ARE adoption. 000). 5 point reduction in the number of zero-return days. 5/39). Findings for analyst following are presented in Panel C. 852), which means that the treatment group and the control sample are indistinguishable before the adoption. 072), which shows that there is a common time-trend for the control and treatment groups. 000). 7% increase in the number of analysts who follow the firm. 3, this effect is much lower, underlying the need to control for other factors.

See the Appendix to Chapter 2 for a description of variables. 34 2. 6% of the observations when run on the universe. 9% for the Netherlands. 4% of the observations are correctly classified. 1, Panel A). All coefficients are significant, with the predicted signs. 393), suggesting that large firms tend to issue an ARE more frequently. This finding is consistent with intuition. 740), suggesting that profitable firms tend to issue an ARE less frequently. 131). These findings are consistent with the idea that firms use English to increase their visibility and thus raise funds.

Download PDF sample

Rated 4.68 of 5 – based on 45 votes