Abstract

http://ssrn.com/abstract=591336
 
 

References (50)



 
 

Citations (55)



 


 



Investor Protection and the Information Content of Annual Earnings Announcements: International Evidence


Mark L. DeFond


University of Southern California - Leventhal School of Accounting

Mingyi Hung


The Hong Kong University of Science and Technology & University of Southern California

Robert Trezevant


University of Southern California - Leventhal School of Accounting


Journal of Accounting and Economics, Forthcoming

Abstract:     
We draw on the investor protection literature to identify structural factors in the financial reporting environment that are likely to explain cross-country differences in the information content of annual earnings announcements. Using data from over 50,000 annual earnings announcements in 26 countries, we find that annual earnings announcements are more informative in countries with higher quality earnings or better enforced insider trading laws, and that annual earnings announcements are less informative in countries with more frequent interim financial reporting. We also find that, on average, earnings announcements are more informative in countries with strong investor protection institutions.

Number of Pages in PDF File: 46

Keywords: Cross-country event study, Earnings announcement, Price reaction

JEL Classification: G12, G14, G15, K22, M41, M47

Accepted Paper Series


Download This Paper

Date posted: September 17, 2004  

Suggested Citation

DeFond, Mark L. and Hung, Mingyi and Trezevant, Robert, Investor Protection and the Information Content of Annual Earnings Announcements: International Evidence. Journal of Accounting and Economics, Forthcoming. Available at SSRN: http://ssrn.com/abstract=591336

Contact Information

Mark DeFond
University of Southern California - Leventhal School of Accounting ( email )
Accounting Building, Room 206
Los Angeles, CA 90089-0441
United States
213-740-5016 (Phone)
213-747-2815 (Fax)
Mingyi Hung (Contact Author)
The Hong Kong University of Science and Technology & University of Southern California ( email )
Hong Kong
Robert Trezevant
University of Southern California - Leventhal School of Accounting ( email )
Los Angeles, CA 90089-0441
United States
213-740-5013 (Phone)
213-747-2815 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 3,818
Downloads: 1,016
Download Rank: 10,383
References:  50
Citations:  55

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo3 in 0.625 seconds