This paper investigates the impact of business strategy on firms' trade credit policies. We find that firms following an innovation-oriented strategy (prospectors) offer significantly more trade credit to their customers than those following an efficiency-oriented strategy (defenders),...

We extend the recent literature concerning accounting based valuation models to investigate financial firms from six European countries with substantial financial sectors: France, Germany, Italy, Netherlands, Switzerland and the UK. Not only are these crucial industries worthy of study in their...

Prior evidence has demonstrated that for North American markets EPS forecast revisions are associated with security price changes, although this evidence is much stronger for pre-announcement changes than for post-announcement. As there is considerable interest in using analysts' forecasts for...

The introduction of International Financial Reporting Standards (IFRS) in the EU is obviously an unusually important event for accounting, accountants and accounting researchers, and naturally European Accounting Review has been very keen in devoting this special issue to the topic. It will be a...

The Initial Public Offer (IPO) is an important event in the development of a firm yet there is little evidence regarding why firms choose certain times to come to the market. This paper extends the available evidence, concentrating on UK data and addressing a number of econometric problems with...

This paper examines the accuracy of European analysts' forecasts of corporate earnings. The analysis is based on a large sample of individual forecasts of annual earnings for years ending in 1987 to 1992. The bias and accuracy of the analysts' forecasts in each country are contrasted and the...

This paper demonstrates that strategic equity holdings by employees and family or by corporations discourage investment in environmental, social and governance (ESG) activities as measured by ASSET4 performance scores. Conversely, debt or government equity finance is positively associated with...

This paper examines listing location as a managerial decision by using a sample of IPOs of Chinese entrepreneurial firms in mainland China, the United States and Hong Kong. We find that Chinese entrepreneurial firms managed by CEOs with international experience are more likely to undertake...

We evaluate machine learning in investment research and find that forecasts of volatility derived from analyst and machine-learning output have similar explanatory power. Both predictions can benefit by incorporating information from the other and both are more accurate in common law than in...