Points out that the decline in international economic differentials makes country effects less important and sector effects more important in managing equity funds; but that there is little research on sector and sub‐sector specific risks. Presents a study of sector and sub‐sector volatility...

Purpose – The purpose of this paper is to make an empirical contribution by investigating the boundaries between external financial reporting and decision making through assessing the degree of differences among practitioners’ perspectives of financial reporting measurement attributes across...