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| Author: | Leuz, C. Verrecchia, R.E. |
| Title: | The economic consequences of increased disclosure |
| Journal: | Journal of Accounting Research
2000 : VOL. 38:SUPPLEMENT, p. 91-124 |
| Index terms: | ASYMMETRIC INFORMATION CAPITAL COSTS DISCLOSURE INTERNATIONAL ACCOUNTING GERMANY |
| Language: | eng |
| Abstract: | In this paper, the authors study German firms that have switched from the German to an international reporting regime (IAS or U.S. GAAP), thereby committing themselves to increased levels of disclosure. The authors show that proxies for the information asymmetry component of the cost of capital for the switching firms - namely, the bid-ask spread and trading volume - behave in the predicted direction compared to firms employing the German reporting regime. |
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