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/lp/inderscience-publishers/can-investors-rely-on-the-quality-of-earnings-figures-published-by-hMDwnQhRmK
- Publisher
- Inderscience Publishers
- Copyright
- Copyright © Inderscience Enterprises Ltd. All rights reserved
- ISSN
- 1740-8008
- eISSN
- 1740-8016
- DOI
- 10.1504/IJAAPE.2008.020192
- Publisher site
- See Article on Publisher Site
Abstract
This paper investigates earnings quality of both listed and non-listed Russian firms and explores whether foreign ownership affects the quality of earnings published by non-listed Russian firms. Russia, the largest European transitional economy, is an increasingly attractive market for foreign investors. Our empirical results show that Russian firms listed on a stock exchange report earnings of relatively good quality. We do not find support for the hypothesis that non-listed Russian firms co-owned by foreign investors report earnings of better quality than do exclusively Russian-owned non-listed firms. However, we find that non-listed Russian firms with foreign ownership report earnings with more timely recognition of economic gains than exclusively Russian-owned non-listed firms do. Our results are robust for different specifications of the earnings quality model.
Journal
International Journal of Accounting, Auditing and Performance Evaluation – Inderscience Publishers
Published: Jan 1, 2008