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

Young, S E and Pope, P F and Alves, P (2009) Cross-border information transfers: evidence from profit warnings issued by European firms. Accounting and Business Research, 39 (5). pp. 449-472. ISSN 2159-4260

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    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‐, industryand country‐level characteristics.

    Item Type: Article
    Journal or Publication Title: Accounting and Business Research
    Subjects: UNSPECIFIED
    Departments: Lancaster University Management School > Accounting & Finance
    ID Code: 45472
    Deposited By: ep_importer_pure
    Deposited On: 11 Jul 2011 19:32
    Refereed?: Yes
    Published?: Published
    Last Modified: 09 Apr 2014 22:32
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/45472

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