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| Author: | Dumontier, P. Raffournier, B. |
| Title: | Accounting and capital markets: a survey of the European evidence |
| Journal: | European Accounting Review
2002 : VOL. 11:1, p. 119-152 |
| Index terms: | ACCOUNTANTS ACCOUNTING CAPITAL MARKETS EUROPE EUROPEAN UNION |
| Language: | eng |
| Abstract: | The relationship between accounting information and capital markets has been the subject of numerous studies, especially in the US. The purpose of this article is to examine the corresponding evidence in Europe. This review classifies the European literature into three groups: studies of the market reaction to newly released accounting information; studies of the long-term association between stock returns and accounting numbers; studies devoted to the use of accounting data by investors and to the impact of market pressure on accounting choices. The paper reviews and summarizes the main results related to each of these topics. It also addresses some methodological issues and provides suggestions for future research. |
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