Journal of International Financial Management and Accounting最新文献

{"title":"The impact of forecasting cash flows on enhancing analysts’ own earnings forecasts: International evidence and the effect of IFRS adoption","authors":"Changjiang Wang, Minna Yu","doi":"10.1111/JIFM.12129","DOIUrl":"https://doi.org/10.1111/JIFM.12129","url":null,"abstract":"","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124843970","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}

{"title":"Corporate financial distress: The case of publicly listed firms in an emerging market economy","authors":"Regina M. Lizares, C. C. Bautista","doi":"10.1111/jifm.12122","DOIUrl":"https://doi.org/10.1111/jifm.12122","url":null,"abstract":"","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120640217","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}

{"title":"IASB and FASB Face Challenges in Pursuit of Joint Conceptual Framework","authors":"W. McGregor, D. Street","doi":"10.1111/J.1467-646X.2007.01007.X","DOIUrl":"https://doi.org/10.1111/J.1467-646X.2007.01007.X","url":null,"abstract":". . . is both complete and internally consistent. Such a framework would provide a sound foundation for developing future accounting standards and is essential to fulfilling the Boards’ goal of developing standards that are principles-based, internally consistent, internationally converged, and that lead to financial reporting that provides the information needed for investment, credit, and similar decisions. That framework, which will deal with a wide range of issues, will build on the existing IASB and FASB frameworks and consider developments since they issued their original frameworks.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117318073","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}

{"title":"The usefulness of earnings and book value for equity valuation in emerging capital markets : evidence from listed companies in the people's republic of China","authors":"Ben‐Hsien Bao, L. Chow","doi":"10.1111/1467-646X.00045","DOIUrl":"https://doi.org/10.1111/1467-646X.00045","url":null,"abstract":"This paper examines the relative value relevance in equity valuation of two sets of accounting information of listed Chinese companies which issued the so-called B shares to foreign investors on the Chinese stock exchanges. These firms are required to prepare two sets of financial statements: one based on China's accounting regulations (domestic GAAPs) and the other based on International Accounting Standards (IASs). The study adopted the Ohlson (1995) model and used the Davidson-MacKinnon J-test to assess which one of these two competing sets of accounting information is more closely associated with the share prices. The results showed that earnings and book value reported based on IASs have greater information content than those based on domestic GAAPs. The results of yearly regression analysis generally suggested that the explanatory power of these earnings and book values for share prices increased over time.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124406208","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}

{"title":"International Standardisation and Harmonisation: a New Measurement Technique","authors":"S. Mcleay, D. Neal, T. Tollington","doi":"10.1111/1467-646X.00042","DOIUrl":"https://doi.org/10.1111/1467-646X.00042","url":null,"abstract":"We argue in this paper that it is the availability of alternative accounting treatments and the use by individual firms of the appropriate method that produces financial statements which are comparable. Accordingly, international harmony in accounting should be seen as a state in which firms throughout the world are able to use an internationally-recognised accounting treatment that is appropriate to their circumstances without being constrained to do otherwise by local accounting regulations or other requirements to adopt practices confined to particular nations. The paper distinguishes harmonisation from standardisation and presents a method for measuring harmonisation which allows for choice between alternative accounting treatments. The statistical model also takes account of the stylised fact that accounting treatments are not mutually exclusive, and the method is illustrated by an analysis of goodwill accounting practices in Europe.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"152 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124248695","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}

{"title":"Intangible Assets and the Network Structure of MNCs","authors":"John A. Doukas, Christos Pantzalis, Sungsoo Kim","doi":"10.1111/1467-646X.00040","DOIUrl":"https://doi.org/10.1111/1467-646X.00040","url":null,"abstract":"This paper examines the nature of the relationship between corporate intangible assets and the multinational network structure of the firm. Specifically, the question addressed in this paper is whether the nature of corporate intangible assets determines the mode of geographic expansion of the MNC. The interactive effects between the level and type of corporate intangibles and the foreign expansion path of MNCs are also examined. Based on the analysis of 362 MNCs, representing 88 three-digit SIC industries, the results of this study show that R&D-intensive MNCs maintain substantially more geographically diversified and less geographically focused operating networks than advertising-intensive MNCs. Furthermore, R&D-intensive MNCs' foreign investments create more value through geographic diversification, while non-R&D-intensive MNCs benefit the most by increasing the geographic focus of their foreign investment activities. We also document that MNCs without significant levels of technology know-how and marketing based intangible assets can benefit the most from geographic-focused rather than geographic-diversified foreign business operations.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1999-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127857167","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}

{"title":"Global Accounting Standards: An Investor's View","authors":"Nicholas Roach","doi":"10.1111/J.1467-646X.1996.TB00064.X","DOIUrl":"https://doi.org/10.1111/J.1467-646X.1996.TB00064.X","url":null,"abstract":"","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"487 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1996-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"119767920","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}

{"title":"Foreign Stock Exchange Listings: A Case Study of Daimler-Benz","authors":"Lee H. Radebaugh, Gunther Gebhardt, S. Gray","doi":"10.1111/J.1467-646X.1995.TB00055.X","DOIUrl":"https://doi.org/10.1111/J.1467-646X.1995.TB00055.X","url":null,"abstract":"The purpose of this case study is to discuss if the benefits to Daimler-Benz of complying with SEC disclosure requirements to list and raise capital on the New York Stock Exchange exceed the costs of the additional disclosures. This is also the key question that other German companies will have to answer as they consider the possibility of listing in the U.S. We identify and discuss the costs and benefits of listing on foreign stock exchanges, the process of listing on the New York Stock Exchange, the major factors influencing Daimler-Benz's decision to list on the New York Stock Exchange, key differences between German and U.S. generally accepted accounting principles, the impact of U.S. GAAP on Daimler-Benz s reported earnings and shareholders equity, and responses to Daimler-Benz s listing. With respect to the latter issue, we look at comments in the German press, the number of analysts forecasts of Daimler- Benz's earnings as reported in the International Brokerage Estimate System, and the reaction of the capital markets to Daimler-Benz's announcements that it would comply with SEC reporting requirements and that it would list on the New York Stock Exchange, and the reaction to the actual listing itself. The most important factors that Daimler-Benz considered in its decision to list on the New York Stock Exchange are a management perception of a market saturation of Damiler-Benz shares on the German Stock Exchanges, a heavy reliance on a few providers of capital, and an intended globalization of the financing of Daimler-Benz as a part of Daimler s overall globalization strategy. The literature points out significant differences in accounting standards between Germany and the United States, and these differences were highlighted in Daimler-Benz s reconciled financial statements. In general, U.S. GAAP income for Daimler-Benz varied significantly relative to German GAAP, i.e., U.S. GAAP income was lower in l992 and l993 but higher in l99l. However, shareholders equity was significantly higher in U.S. GAAP than under German GAAP in all three years. The results of the capital markets tests suggest a negative capital market reaction to the listing of Daimler-Benz on the New York Stock Exchange. In terms of price volatility and beta, the variance of returns on Daimler-Benz's shares increased after listing on the New York Stock Exchange, and beta decreased after the announcement and the listing. However, other factors, such as Daimler-Benz s announcement of a major restructuring of the company at the same time, could have had a strong influence on returns, volatility, and beta.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1995-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121643043","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}

{"title":"Foreign Currency Translation Reporting and the Exchange-Rate Exposure Effect","authors":"Eli Bartov, Gordon M. Bodnar","doi":"10.1111/J.1467-646X.1995.TB00052.X","DOIUrl":"https://doi.org/10.1111/J.1467-646X.1995.TB00052.X","url":null,"abstract":"This study further explores a structural break in the relation between stock returns of firms with foreign currency positions and lagged exchange rate changes (exchange rate exposure effect) documented in Bartov and Bodnar (l994). We examine whether changes in the financial accounting reporting of foreign currency positions from SFAS No. 52 might have improved investors' ability to characterize firms' economic exchange rate exposures, and thus the impact of exchange rate movements on firm value. Our findings indicate that only firms reporting using the dollar as the functional currency (i.e., those reporting as if they were still under SFAS No. 8) retain a significant relation between the lagged change in the dollar and firm value in the post-SFAS No. 52 period. For firms reporting using the foreign currency as the functional currency (i.e., those who switched to the new translation method) the significant lagged relation disappears. This is consistent with the use of a foreign currency as the functional currency under SFAS No. 52 facilitating valuation of U.S. firms with foreign operations.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1995-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130599515","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}

{"title":"The Influence of Culture on Organizational Design and Planning and Control in Australia and the United States Compared with Singapore and Hong Kong","authors":"Graeme Harrison, Jill L. McKinnon, S. Panchapakesan, Mitzi Leung","doi":"10.1111/J.1467-646X.1994.TB00045.X","DOIUrl":"https://doi.org/10.1111/J.1467-646X.1994.TB00045.X","url":null,"abstract":"This study draws on the national cultural dimensions of power distance, individualism, and Confucian dynamism to predict and explain differences in philosophies for, and approaches to organizational design and management planning and control systems in Australia and the US, representing Anglo-American nations, and Singapore and Hong Kong, representing the ‘five dragons' of East Asia. Data were gathered by survey questionnaires mailed to senior accounting and finance executives in 800 organizations. \u0000 \u0000The results were largely as predicted and, in general, provide support for the importance of national culture in influencing organizational design and management planning and control systems. In particular, the cultural values of Anglo-American society relative to East Asian society are associated with a greater emphasis on decentralization and responsibility centres in organizational design, and a greater emphasis on quantitative and analytical techniques in planning and control. By contrast, the cultural values of East Asian society are associated with a greater emphasis on long-term planning and on group centred decision-making. The results are important to managers in global organizations who need to understand the cultural bases of observed differences in organizational and management planning and control practices in Anglo-American and East Asian nations.","PeriodicalId":427225,"journal":{"name":"Journal of International Financial Management and Accounting","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1994-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"119566011","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}