Accounting Disclosure Practices in the United States and the United Kingdom
比较了在美国和英国上市的本土与外国公司的会计披露频率和时机，分析两国披露规则差异及企业合规情况，并探讨影响披露的五个因素，对政策制定者评估披露规则改革有参考价值。
This paper examines the frequency and timing of accounting disclosures made by domestic and foreign firms listing securities in either the United States, the United Kingdom, or both. We examine differences in disclosure rules between the two jurisdictions and in firms' compliance with these disclosure rules. We also investigate the association between the frequency and timing of our sample firms' accounting disclosures and five factors which vary both within and between jurisdictions: interactions between voluntary and mandatory disclosure; investor demand for information; domicile and the effects of being foreign; firm size; and U.S. exchange listing. The New York Stock Exchange (NYSE) and the Securities and Exchange Commission (SEC) are currently debating whether to relax accounting and disclosure rules for internationally traded firms relative to those of domestic firms (Siconolfi and Salwen [1992]). Evidence on factors that influence what, when, and where firms choose to disclose should be an important input to policy decisions about changes in