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| Author: | Gornik-Tomaszewski, S. Rozen, E. |
| Title: | Pricing of foreign GAAP earnings in U.S. capital market prior to the SEC required reconciliation disclosure |
| Journal: | International Journal of Accounting
1999 : VOL. 34:4, p. 539-556 |
| Index terms: | ACCOUNTING USA CAPITAL MARKETS |
| Language: | eng |
| Abstract: | The Securities and Exchange Commission (SEC) requires foreign registrants to include in their annual reports on Form 20-F reconciliation to U.S.GAAP of net income, earnings per share, and shareholders' equity, if materially different. Previous research indicates that foreign firms usually file their reports with the SEC near or at the deadline, that is six months after the fiscal year-end and about three months after the earnings announcement. The purpose of this study is to examine U.S. investors' ability to interpret foreign GAAP earnings before the SEC regulated disclosure becomes publicly available. |
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