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Corporate Finance 6最新文献

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Credit Rating and Competition 信用评级与竞争
Corporate Finance 6 Pub Date : 2012-07-01 DOI: 10.2139/ssrn.1573035
Nelson Camanho, Pragyan Deb, Zijun Liu
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引用次数: 26
Are Foreign Earnings Disclosures Value-Relevant? Disaggregation Solves the Puzzle 海外收益披露是否与价值相关?分解解决了难题
Corporate Finance 6 Pub Date : 2009-08-01 DOI: 10.2139/ssrn.1462166
R. Joliet, A. Muller
{"title":"Are Foreign Earnings Disclosures Value-Relevant? Disaggregation Solves the Puzzle","authors":"R. Joliet, A. Muller","doi":"10.2139/ssrn.1462166","DOIUrl":"https://doi.org/10.2139/ssrn.1462166","url":null,"abstract":"This study examines whether foreign region- and country-specific performance disclosures relate differentially to shareholder wealth compared to domestic performance disclosures. Bearing in mind the fact that, in previous literature, empirical findings regarding the value-relevance of geographic performance disparities have been surprisingly conflicting and puzzling, we question in this paper prior sample selection procedures and data treatments. Using an extensive international company-level database, we distinguish between foreign ‘region-’ and ‘country-’specific performance disclosures and find that (1) the use of disaggregated foreign earnings information increases significantly the precision and significance of the value-relevance of foreign performance; (2) the disclosure of positive earnings movements generated in Latin American countries has a consistently negative value impact and (3) the value-relevance of foreign segment disclosures is particularly perceptible for Asian Pacific countries and the United Kingdom, confirming the attractiveness of these areas for foreign direct investment.","PeriodicalId":132421,"journal":{"name":"Corporate Finance 6","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130551524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
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