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Why do small Chinese firms list on the Frankfurt Stock Exchange?

Xu, Hongmei - Wirtschaftswissenschaftliche Fakultät, Westfälische … - 2014

Recently, Chinese firms have become more active in attempting to go public on the Frankfurt Stock Exchange (FWB). This paper uses multivaria te probit analysis to test the motivations of Chinese firms to list on the FWB. In general, Chinese firms are driven by the following motivations. Firstly,...

Persistent link: https://www.econbiz.de/10011097613

Testing of Value Relevance of Accounting Measures Based on IFRS in Borsa Istanbul Equity Market

Ulusan, Hikmet; Ata, H. Ali - In: Business and Economics Research Journal 5 (2014) 2, pp. 61-78

This study is to examine whether firms listed on “Borsa Istanbul Equity Market” have shown in the value relevance of accounting measures presented according to International Financial Reporting Standards and any difference in the value relevance specific to the firm features for the period...

Persistent link: https://www.econbiz.de/10010991026

¿Los medios de comunicación en Colombia son una industria creadora de valor?

Godoy, Jorge Alberto Rivera; Ospina, Ana Milena Padilla - In: REVISTA FINANZAS Y POLÍTICA ECONÓMICA (2013)

En este artículo se pretende examinar si el sector de medios de comunicación en Colombia es creador de valor. Para ello se realiza un análisis del desempeño financiero en el período 2006-2011 usando los indicadores financieros que evalúan el crecimiento, la eficiencia, efectividad,...

Persistent link: https://www.econbiz.de/10010945806

Intellectual Property Intensity (IPI) and the Value-Growth Effect.

Malki, Elli - EconWPA - 1997

Intellectual Property Intensity (IPI) measures the weight of IP in the firm’s total market value. IPI has a positive (convex) functional relationship with Price to Book (P/B) ratio, and thus may provide additional economic insight to the empirical value-growth effect. Growth firms have higher...

Persistent link: https://www.econbiz.de/10005561690

Intellectual property and the valuation of biotechnology

Malki, Elli - EconWPA - 1997

The role of intellectual property (IP) as an important value determinant is widely recognized. This article tries to quantify the role of IP in companies valuation by comparing a sample of biotechnology companies (46 companies included in the Genetic Engineering News Index:GEN-Dex) to the...

Persistent link: https://www.econbiz.de/10005134870

Earnings announcements and attention constraints: The role of market design

Chakrabarty, Bidisha; Moulton, Pamela C. - In: Journal of Accounting and Economics 53 (2012) 3, pp. 612-634

We identify a new channel – market makers' attention constraints – through which earnings announcements for one stock affect the liquidity of other stocks. When some stocks handled by a designated market maker have earnings announcements, liquidity is lower for non-announcement stocks...

Persistent link: https://www.econbiz.de/10010693371

Non-GAAP and Street Earnings: Evidence from SFAS 123R

Barth, Mary E.; Gow, Ian D.; Taylor, Daniel J. - Graduate School of Business, Stanford University - 2010

This study examines how key market participants-managers and analysts-responded to SFAS 1 23R's controversial …' managers exclude it from non-GAAP earnings and some firms' analysts exclude it from Street earnings. We find evidence … consistent with managers opportunistically excluding the expense to increase earnings, smooth earnings, and meet earnings …

Persistent link: https://www.econbiz.de/10010627778

The Effects of Biases in Probability Judgments on Market Prices

Ganguly, Ananda R. - 2008

Experimental Markets were used to examine whether individual probability judgment biases affect market prices. This issue is important to accountants because users of accounting information (especially investors) face competitive market environments. The expectation was that it would be more...

Persistent link: https://www.econbiz.de/10012773702

Accruals, Income Smoothing and Bond Ratings

Gu, Zhaoyang - 2006

weight in bond ratings when they serve the income-smoothing function. Finally, we show that accrual management may not be …

Persistent link: https://www.econbiz.de/10012735099

How Disclosure Quality Affects the Long-Run Level of Information Asymmetry

Brown, Stephen - 2006

This study examines how disclosure quality is related to the long-run level of information asymmetry. We examine two potential mechanisms through which disclosure quality is expected to reduce the long-run level of information asymmetry: (1) disclosure quality will alter the trading incentives...

Persistent link: https://www.econbiz.de/10012735655