12,000

We have over 12,000 students, from over 100 countries, within one of the safest campuses in the UK

93%

93% of Lancaster students go into work or further study within six months of graduating

Home > Research > Publications & Outputs > Cross-border information transfers: evidence fr...
View graph of relations

« Back

Cross-border information transfers: evidence from profit warnings issued by European firms

Research output: Contribution to journalJournal article

Published

Journal publication date2009
JournalAccounting and Business Research
Journal number5
Volume39
Number of pages24
Pages449-472
Original languageEnglish

Abstract

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.