| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3590 |
| 来源ID | Working Paper 3590 |
| International Accounting Diversity: Does it Impact Market Participants? | |
| Frederick D.S. Choi; Richard M. Levich | |
| 发表日期 | 1991 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | While many indicators point to the globalization of capital markets, one barrier may persist -- International Accounting Diversity. Even though coordination of many national policies is gaining favor, the measurement and disclosure principles that underlie financial statements remain largely a nationalistic affair. In this paper, we analyze the channels through which accounting diversity affects financial statements. Accounting differences may affect cash flows and lead to a direct affect on valuation. Accounting differences may also affect balance sheet items and measures of capital adequacy or credit worthiness that indirectly affect managerial decisions and firm valuation. In a survey of participants in the international capital market, we find that accounting diversity is a problem that affects the capital market decisions of roughly one-half of the participants in our study. Thus, we cannot rule out the possibility that international accounting diversity is a barrier whose presence may affect the pricing of securities and the composition of international portfolios. On the other hand, roughly one-half of the participants in this study found what they described as effective ways of coping with diversity. These coping mechanisms may be useful for other investors and issuers in making their capital market decisions. |
| 主题 | International Economics ; Financial Economics |
| URL | https://www.nber.org/papers/w3590 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560892 |
| 推荐引用方式 GB/T 7714 | Frederick D.S. Choi,Richard M. Levich. International Accounting Diversity: Does it Impact Market Participants?. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3590.pdf（229KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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