search query: @indexterm ACCOUNTING INFORMATION SYSTEMS / total: 204
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| Author: | Bhattacharya, U. Daouk, H. Welker, M. |
| Title: | The World Price of Earnings Opacity |
| Journal: | Accounting Review
2003 : JUL, VOL. 78:3, p.641-678 |
| Index terms: | EARNINGS ACCOUNTING INFORMATION SYSTEMS STOCK MARKETS FINANCIAL REPORTING |
| Language: | eng |
| Abstract: | The authors analyze financial statements from 34 countries for the period 1984-1998 to construct a panel data set measuring three dimensions of reported accounting earnings for each country: earnings aggressiveness, loss avoidance, and earnings smoothing. The authors hypothesize that these three dimensions are associated with uninformative or opaque earnings, and so the authors combine these three measures to obtain an overall earnings opacity time-series measure per country. The authors then explore whether our three measures of earnings opacity affect two characteristics of an equity market in a country: the return the shareholders demand and how much they trade. |
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