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Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe
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| Zeitschriftentitel: | Contemporary Accounting Research |
|---|---|
| Personen und Körperschaften: | , , |
| In: | Contemporary Accounting Research, 27, 2010, 1, S. 2-2 |
| Medientyp: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Wiley
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| Schlagwörter: |
| author_facet |
PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM |
|---|---|
| author |
PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM |
| spellingShingle |
PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM Contemporary Accounting Research Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe Economics and Econometrics Finance Accounting |
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peek, erik |
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PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM 0823-9150 1911-3846 Wiley Economics and Econometrics Finance Accounting http://dx.doi.org/10.1111/j.1911-3846.2010.01010_2.x <jats:p>In this study we investigate whether the importance of accounting information in contracting and communication with shareholders and creditors affects earnings timeliness in publicly disclosed general‐purpose financial statements. To operationalize the relationship between timeliness demands and the importance of accounting information to shareholders and creditors, we compare the (asymmetry in) earnings timeliness of public firms with that of private firms. We attribute public versus private firm differences in timeliness to shareholders’ demands when a country’s institutions provide strong investor protection. Similarly, we attribute these differences to creditors’ demands when the institutions provide strong creditor protection. Our analysis of public and private firms in 13 Western European countries suggests that creditors and shareholders have different timeliness demands. In particular, we find that the public versus private firm difference in asymmetric timeliness is not associated with a country’s degree of investor protection but positively associated with a country’s degree of creditor protection. The results further suggest that shareholders demand symmetric rather than asymmetric timeliness. An important implication of our study is that general‐purpose financial statements are responsive to creditors’ reporting demands, which contrasts with the idea that these — primarily private — creditors would use special‐purpose reports.</jats:p> Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe Contemporary Accounting Research |
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| title |
Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_unstemmed |
Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_full |
Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
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Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
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Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_short |
Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_sort |
creditors’ and shareholders’ reporting demands in public versus private firms: evidence from europe |
| topic |
Economics and Econometrics Finance Accounting |
| url |
http://dx.doi.org/10.1111/j.1911-3846.2010.01010_2.x |
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2010 |
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2-2 |
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<jats:p>In this study we investigate whether the importance of accounting information in contracting and communication with shareholders and creditors affects earnings timeliness in publicly disclosed general‐purpose financial statements. To operationalize the relationship between timeliness demands and the importance of accounting information to shareholders and creditors, we compare the (asymmetry in) earnings timeliness of public firms with that of private firms. We attribute public versus private firm differences in timeliness to shareholders’ demands when a country’s institutions provide strong investor protection. Similarly, we attribute these differences to creditors’ demands when the institutions provide strong creditor protection. Our analysis of public and private firms in 13 Western European countries suggests that creditors and shareholders have different timeliness demands. In particular, we find that the public versus private firm difference in asymmetric timeliness is not associated with a country’s degree of investor protection but positively associated with a country’s degree of creditor protection. The results further suggest that shareholders demand symmetric rather than asymmetric timeliness. An important implication of our study is that general‐purpose financial statements are responsive to creditors’ reporting demands, which contrasts with the idea that these — primarily private — creditors would use special‐purpose reports.</jats:p> |
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| description | <jats:p>In this study we investigate whether the importance of accounting information in contracting and communication with shareholders and creditors affects earnings timeliness in publicly disclosed general‐purpose financial statements. To operationalize the relationship between timeliness demands and the importance of accounting information to shareholders and creditors, we compare the (asymmetry in) earnings timeliness of public firms with that of private firms. We attribute public versus private firm differences in timeliness to shareholders’ demands when a country’s institutions provide strong investor protection. Similarly, we attribute these differences to creditors’ demands when the institutions provide strong creditor protection. Our analysis of public and private firms in 13 Western European countries suggests that creditors and shareholders have different timeliness demands. In particular, we find that the public versus private firm difference in asymmetric timeliness is not associated with a country’s degree of investor protection but positively associated with a country’s degree of creditor protection. The results further suggest that shareholders demand symmetric rather than asymmetric timeliness. An important implication of our study is that general‐purpose financial statements are responsive to creditors’ reporting demands, which contrasts with the idea that these — primarily private — creditors would use special‐purpose reports.</jats:p> |
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| spelling | PEEK, ERIK CUIJPERS, RICK BUIJINK, WILLEM 0823-9150 1911-3846 Wiley Economics and Econometrics Finance Accounting http://dx.doi.org/10.1111/j.1911-3846.2010.01010_2.x <jats:p>In this study we investigate whether the importance of accounting information in contracting and communication with shareholders and creditors affects earnings timeliness in publicly disclosed general‐purpose financial statements. To operationalize the relationship between timeliness demands and the importance of accounting information to shareholders and creditors, we compare the (asymmetry in) earnings timeliness of public firms with that of private firms. We attribute public versus private firm differences in timeliness to shareholders’ demands when a country’s institutions provide strong investor protection. Similarly, we attribute these differences to creditors’ demands when the institutions provide strong creditor protection. Our analysis of public and private firms in 13 Western European countries suggests that creditors and shareholders have different timeliness demands. In particular, we find that the public versus private firm difference in asymmetric timeliness is not associated with a country’s degree of investor protection but positively associated with a country’s degree of creditor protection. The results further suggest that shareholders demand symmetric rather than asymmetric timeliness. An important implication of our study is that general‐purpose financial statements are responsive to creditors’ reporting demands, which contrasts with the idea that these — primarily private — creditors would use special‐purpose reports.</jats:p> Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe Contemporary Accounting Research |
| spellingShingle | PEEK, ERIK, CUIJPERS, RICK, BUIJINK, WILLEM, Contemporary Accounting Research, Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe, Economics and Econometrics, Finance, Accounting |
| title | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_full | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_fullStr | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_full_unstemmed | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_short | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| title_sort | creditors’ and shareholders’ reporting demands in public versus private firms: evidence from europe |
| title_unstemmed | Creditors’ and Shareholders’ Reporting Demands in Public Versus Private Firms: Evidence from Europe |
| topic | Economics and Econometrics, Finance, Accounting |
| url | http://dx.doi.org/10.1111/j.1911-3846.2010.01010_2.x |