The Accounting Review Vol. 58 No. 2 1983
U.S. Securities Market Responses to Alternate Earnings Disclosures of Non-U.S. Multinational Corporations.
Abstract
This study examines U.S. securities market responses to two annual reporting events of non-U.S, multinational corporations: (1) the annual earnings announcement made in the United States, and (2) the annual Form 20-K filing made with the U.S. Securities and Exchange Commission. The market reacts to the U.S. earnings announcements of these firms despite the fact that reported earnings amounts are typically not based on U.S. GAAP. Moreover, the intensity of the reactions to the U.S. earnings announcements of non-U.S. multinationals and a control sample of matched U.S. firms is comparable. No immediate response to the 20-K filing is observed.
- DOI
- 10.2308/tar-4482765
- Volume
- 58
- Issue
- 2
- Pages
- 394-402
- Language
- en
- Sources
- openalex crossref