haku: @author Srinivasan, S. / yhteensä: 7
viite: 3 / 7
| Tekijä: | Khanna, T. Palepu, K.G. Srinivasan, S. |
| Otsikko: | Disclosure practices of foreign companies interacting with U.S. markets |
| Lehti: | Journal of Accounting Research
2004 : MAY, 42:2, p. 475-508 |
| Asiasana: | Disclosure Companies Markets Asia Europe USA |
| Kieli: | eng |
| Tiivistelmä: | The paper analyzes the disclosure (here as: discl.) practices of companies as a function of their interaction with U.S. markets for a group of 794 firms from 24 countries in the Asia-Pacific and Europe. The analysis uses the Transparency and Disclosure scores developed recently by Standard & Poor's. These scores rate the discl. of companies from around the world using U.S. discl. practices as an implicit benchmark. Results show a positive association btw. these discl. scores and a variety of market interaction measures, incl. U.S. listing, U.S. investment flows, exports to, and operations in the United States. Trade with the U.S. at the country level, however, has an insignificant relationship with the discl. scores. The empirical analysis controls for the previously documented association btw. disclosure and firm size, performance, and country legal origin. The results are broadly consistent with the hypothesis that cross-border economic interactions are associated with similarities in discl. and governance practices. |
SCIMA