TITLE

Cross-border information transfers: evidence from profit warnings issued by European firms

AUTHOR(S)
Alves, Paulo; Pope3, Peter F.; Young, Steven
PUB. DATE
December 2009
SOURCE
Accounting & Business Research (Wolters Kluwer UK);2009, Vol. 39 Issue 5, p449
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This paper reports evidence on cross-border accounting information transfers associated with profit warning announcements. Using a sample of firms from 29 European countries, we find that negative earnings surprises disclosed by firms in one country affect investors' perceptions of comparable non-announcing firms in other countries. The form and magnitude of cross-border effects is consistent with domestic transfers. Tests explaining variation in cross-border information transfers provide some (albeit rather limited) evidence that effects vary according to a range of firm-, industry- and country-level characteristics.
ACCESSION #
48182102

 

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