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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Cross-border information transfers: evidence from profit warnings issued by European firms
AU - Alves, Paulo
AU - Pope, P F
AU - Young, S E
PY - 2009
Y1 - 2009
N2 - 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.
AB - 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.
U2 - 10.1080/00014788.2009.9663378
DO - 10.1080/00014788.2009.9663378
M3 - Journal article
VL - 39
SP - 449
EP - 472
JO - Accounting and Business Research
JF - Accounting and Business Research
SN - 2159-4260
IS - 5
ER -