The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity

This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the f...

Full description

Saved in:
Bibliographic Details
Published in:Journal of business finance & accounting 2004-01, Vol.31 (1-2), p.115-148
Main Authors: Raonic, Ivana, McLeay, Stuart, Asimakopoulos, Ioannis
Format: Article
Language:English
Subjects:
Accounting
Business studies
Capital market
capitalmarkets
Conservatism
enforcement
Equity
Europe
Finance
Income
international accounting
Time
timeliness
U.S.A
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
cited_by cdi_FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83
cites cdi_FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83
container_end_page 148
container_issue 1-2
container_start_page 115
container_title Journal of business finance & accounting
container_volume 31
creator Raonic, Ivana
McLeay, Stuart
Asimakopoulos, Ioannis
description This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the firm's equity is listed. The companies investigated are those with shares cross‐listed on European stock exchanges, some of which are also listed in New York. Variation across jurisdictions and markets with respect to earnings timeliness and conservatism can be explained in part as an interaction of market effects and regulatory effects, with some evidence of opposition between the two, and the sensitivity of earnings to stock price changes shows a common, converging trend towards greater accounting conservatism in Europe.
doi_str_mv 10.1111/j.0306-686X.2004.00004.x
format article
fullrecord <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_37885651</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>37885651</sourcerecordid><originalsourceid>FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83</originalsourceid><addsrcrecordid>eNqNkV9v0zAUxSMEEmXwHfzEW4qd-F-QeCjVOjZ1m4SK4O3KcW-YS-KEOB3Nt5-zTH3G8j2-ls7vyjpOEsLoksX16bCkOZWp1PLXMqOULymd9PQqWTAudSoKoV4ni7PpbfIuhEP0ZEyqReJ3D0h2rsHaeQyBtBW59rZtkHxH2_72bnCtJ-VILo9926HxZN02nfEOw2ey8nGbegzuBQyDG44TYWpi_J7cmv4PDs9IjSc3jO-TN5WpA354OS-SH5vL3fpbur2_ul6vtqnlIuOptkZhoZmWZZahMXvKNWJl2T6X0qiyskKIPbeCV6q0VUaLgqMoeF7lUiDq_CL5OM_t-vbvEcMAjQsW69p4bI8BcqW1kIJFo56Ntm9D6LGCrneN6UdgFKaA4QBTdjBlB1PA8BwwnCJ6P6M9dmjPXFmbQ1l5Y-ERcpOzKGOsGZ1uLhaDLGo3dUwA4xoehiZO_DJP_OdqHP_7JXDzdbOKXeTTmXdhwNOZj58AUuVKwM-7K7jdqGzH77ag8idWwqzO</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>37885651</pqid></control><display><type>article</type><title>The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity</title><source>International Bibliography of the Social Sciences (IBSS)</source><source>Wiley-Blackwell Read &amp; Publish Collection</source><source>Business Source Ultimate (EBSCOHost)</source><creator>Raonic, Ivana ; McLeay, Stuart ; Asimakopoulos, Ioannis</creator><creatorcontrib>Raonic, Ivana ; McLeay, Stuart ; Asimakopoulos, Ioannis</creatorcontrib><description>This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the firm's equity is listed. The companies investigated are those with shares cross‐listed on European stock exchanges, some of which are also listed in New York. Variation across jurisdictions and markets with respect to earnings timeliness and conservatism can be explained in part as an interaction of market effects and regulatory effects, with some evidence of opposition between the two, and the sensitivity of earnings to stock price changes shows a common, converging trend towards greater accounting conservatism in Europe.</description><identifier>ISSN: 0306-686X</identifier><identifier>EISSN: 1468-5957</identifier><identifier>DOI: 10.1111/j.0306-686X.2004.00004.x</identifier><language>eng</language><publisher>Oxford, UK; Malden, US: Blackwell Science Ltd/Inc</publisher><subject>Accounting ; Business studies ; Capital market ; capitalmarkets ; Conservatism ; enforcement ; Equity ; Europe ; Finance ; Income ; international accounting ; Time ; timeliness ; U.S.A</subject><ispartof>Journal of business finance &amp; accounting, 2004-01, Vol.31 (1-2), p.115-148</ispartof><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83</citedby><cites>FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,777,781,4010,27904,27905,27906,33205</link.rule.ids><backlink>$$Uhttp://econpapers.repec.org/article/blajbfnac/v_3a31_3ay_3a2004-01_3ai_3a1-2_3ap_3a115-148.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Raonic, Ivana</creatorcontrib><creatorcontrib>McLeay, Stuart</creatorcontrib><creatorcontrib>Asimakopoulos, Ioannis</creatorcontrib><title>The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity</title><title>Journal of business finance &amp; accounting</title><description>This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the firm's equity is listed. The companies investigated are those with shares cross‐listed on European stock exchanges, some of which are also listed in New York. Variation across jurisdictions and markets with respect to earnings timeliness and conservatism can be explained in part as an interaction of market effects and regulatory effects, with some evidence of opposition between the two, and the sensitivity of earnings to stock price changes shows a common, converging trend towards greater accounting conservatism in Europe.</description><subject>Accounting</subject><subject>Business studies</subject><subject>Capital market</subject><subject>capitalmarkets</subject><subject>Conservatism</subject><subject>enforcement</subject><subject>Equity</subject><subject>Europe</subject><subject>Finance</subject><subject>Income</subject><subject>international accounting</subject><subject>Time</subject><subject>timeliness</subject><subject>U.S.A</subject><issn>0306-686X</issn><issn>1468-5957</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2004</creationdate><recordtype>article</recordtype><sourceid>8BJ</sourceid><recordid>eNqNkV9v0zAUxSMEEmXwHfzEW4qd-F-QeCjVOjZ1m4SK4O3KcW-YS-KEOB3Nt5-zTH3G8j2-ls7vyjpOEsLoksX16bCkOZWp1PLXMqOULymd9PQqWTAudSoKoV4ni7PpbfIuhEP0ZEyqReJ3D0h2rsHaeQyBtBW59rZtkHxH2_72bnCtJ-VILo9926HxZN02nfEOw2ey8nGbegzuBQyDG44TYWpi_J7cmv4PDs9IjSc3jO-TN5WpA354OS-SH5vL3fpbur2_ul6vtqnlIuOptkZhoZmWZZahMXvKNWJl2T6X0qiyskKIPbeCV6q0VUaLgqMoeF7lUiDq_CL5OM_t-vbvEcMAjQsW69p4bI8BcqW1kIJFo56Ntm9D6LGCrneN6UdgFKaA4QBTdjBlB1PA8BwwnCJ6P6M9dmjPXFmbQ1l5Y-ERcpOzKGOsGZ1uLhaDLGo3dUwA4xoehiZO_DJP_OdqHP_7JXDzdbOKXeTTmXdhwNOZj58AUuVKwM-7K7jdqGzH77ag8idWwqzO</recordid><startdate>200401</startdate><enddate>200401</enddate><creator>Raonic, Ivana</creator><creator>McLeay, Stuart</creator><creator>Asimakopoulos, Ioannis</creator><general>Blackwell Science Ltd/Inc</general><general>Wiley Blackwell</general><scope>BSCLL</scope><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>200401</creationdate><title>The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity</title><author>Raonic, Ivana ; McLeay, Stuart ; Asimakopoulos, Ioannis</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2004</creationdate><topic>Accounting</topic><topic>Business studies</topic><topic>Capital market</topic><topic>capitalmarkets</topic><topic>Conservatism</topic><topic>enforcement</topic><topic>Equity</topic><topic>Europe</topic><topic>Finance</topic><topic>Income</topic><topic>international accounting</topic><topic>Time</topic><topic>timeliness</topic><topic>U.S.A</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Raonic, Ivana</creatorcontrib><creatorcontrib>McLeay, Stuart</creatorcontrib><creatorcontrib>Asimakopoulos, Ioannis</creatorcontrib><collection>Istex</collection><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of business finance &amp; accounting</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Raonic, Ivana</au><au>McLeay, Stuart</au><au>Asimakopoulos, Ioannis</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity</atitle><jtitle>Journal of business finance &amp; accounting</jtitle><date>2004-01</date><risdate>2004</risdate><volume>31</volume><issue>1-2</issue><spage>115</spage><epage>148</epage><pages>115-148</pages><issn>0306-686X</issn><eissn>1468-5957</eissn><abstract>This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the firm's equity is listed. The companies investigated are those with shares cross‐listed on European stock exchanges, some of which are also listed in New York. Variation across jurisdictions and markets with respect to earnings timeliness and conservatism can be explained in part as an interaction of market effects and regulatory effects, with some evidence of opposition between the two, and the sensitivity of earnings to stock price changes shows a common, converging trend towards greater accounting conservatism in Europe.</abstract><cop>Oxford, UK; Malden, US</cop><pub>Blackwell Science Ltd/Inc</pub><doi>10.1111/j.0306-686X.2004.00004.x</doi><tpages>34</tpages></addata></record>
fulltext fulltext
identifier ISSN: 0306-686X
ispartof Journal of business finance & accounting, 2004-01, Vol.31 (1-2), p.115-148
issn 0306-686X
1468-5957
language eng
recordid cdi_proquest_miscellaneous_37885651
source International Bibliography of the Social Sciences (IBSS); Wiley-Blackwell Read & Publish Collection; Business Source Ultimate (EBSCOHost)
subjects Accounting
Business studies
Capital market
capitalmarkets
Conservatism
enforcement
Equity
Europe
Finance
Income
international accounting
Time
timeliness
U.S.A
title The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-17T15%3A20%3A46IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=The%20Timeliness%20of%20Income%20Recognition%20by%20European%20Companies:%20An%20Analysis%20of%20Institutional%20and%20Market%20Complexity&rft.jtitle=Journal%20of%20business%20finance%20&%20accounting&rft.au=Raonic,%20Ivana&rft.date=2004-01&rft.volume=31&rft.issue=1-2&rft.spage=115&rft.epage=148&rft.pages=115-148&rft.issn=0306-686X&rft.eissn=1468-5957&rft_id=info:doi/10.1111/j.0306-686X.2004.00004.x&rft_dat=%3Cproquest_cross%3E37885651%3C/proquest_cross%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c4524-8ca7e98186b22eaad048eefc1d366a7bfc555d4c54f7bcf20994e5943f365ee83%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=37885651&rft_id=info:pmid/&rfr_iscdi=true