首页 | 本学科首页   官方微博 | 高级检索  
     检索      


The Role of Foreign Shareholders in Disciplining Financial Reporting
Authors:Christof Beuselinck  Belen Blanco  Juan Manuel García Lara
Institution:The first author is from IESEG School of Management and LEM, France. The second author is from the University of Adelaide, Australia. The third author is from Universidad Carlos III de Madrid, Spain. This paper has benefited from presentations at the INTACCT Workshop (Varna), the 38th European Accounting Association Annual Congress (Glasgow), the VII Symposium for Accounting Academics (Madrid), the 9th EUFIN Workshop on European Financial Reporting (Valencia) and from seminar participants at IESEG School of Management, the University of Antwerp and the University of Padua. The authors gratefully acknowledge financial support from the European Commission Research Training Network INTACCT, from the Spanish Ministry of Economy and Competition (ECO2016‐77579 and ECO2013‐48328), from the Government of Comunidad de Madrid (H2015/HUM‐3417, INNCOMCON‐CM) and from the Ramón Areces Foundation.
Abstract:We investigate the role of foreign shareholders in improving the quality of accounting information provided by firms domiciled in countries with low de facto institutional quality. Using a sample of firms from four South European countries (Greece, Italy, Portugal and Spain) for which we observe detailed ownership evolutions over the period 2002–2007, we find that increases in foreign ownership lead to increases in financial reporting quality but only if the foreign shareholders are domiciled in countries with strong investor protection mechanisms. Further, we find that the improvement in financial reporting quality is more pronounced in the case of foreign institutional investors. Finally, our results hold before and after the introduction of the International Financial Reporting Standards (IFRS) in 2005.
Keywords:earnings quality  foreign investors  institutional investors  ownership structure
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号