The Timeliness of Income Recognition by European Companies: An Analysis of Institutional and Market Complexity
通过建模企业面临的不同司法管辖区制度复杂性，分析欧洲交叉上市公司收入确认的及时性差异，发现市场和监管效应共同影响会计稳健性，且欧洲呈现趋同趋势。
This study examines international differences in the asymmetric timeliness of accounting earnings by modelling international exposure to different jurisdictions as a firm‐specific effect, using an index of regulatory complexity that relates to conditions in each of the capital markets in which the firm's equity is listed. The companies investigated are those with shares cross‐listed on European stock exchanges, some of which are also listed in New York. Variation across jurisdictions and markets with respect to earnings timeliness and conservatism can be explained in part as an interaction of market effects and regulatory effects, with some evidence of opposition between the two, and the sensitivity of earnings to stock price changes shows a common, converging trend towards greater accounting conservatism in Europe.