Paper Presentation: Market Reactions around Earnings Announcement of Cross-Listed Firms: The Role of Culture

Accounting Department, Faculty of Economics and Business Universitas Gadjah Mada will held Paper Presentation Series, presenting Dr. Singgih Wijayana, S.E., M.Sc. (Lecturer of Accounting Department of FEB UGM). The paper will be present titled "Market Reactions around Earnings Announcement of Cross-Listed Firms: The Role of Culture".

Paper presentation will be held on:

Day, date: Friday, 1st April, 2016
Time: 09:30Am to finish
Venue: Bakrie Room, Master of Science and Doctoral Building, FEB UGM

Abstract of the paper

This study examines the association between information content earnings and culture values. The market reaction around earnings announcement are expected to vary according to the variation of home country culture value of cross-listed firms. This study finds some evidence to support that higher (lower) market reaction around the release of earning is related to Hofstede Culture Dimensions; and 2) Quantified Accounting Value of Gray (1988). This relationship exist based on the argument that firm’s manager efficient or opportunistic in financial reporting is influenced by culture value. These results also support the argument that culture value affect to the development of accounting system (Gray, 1988) and further affect to quality of financial reporting. Overall, the results suggest that the informal institutional factors of cultural differences of cross-listed firms are priced by the United States (U.S.) market.

Keywords: Information Content of Earnings, Earnings Quality, IFRSs Adoption, Institutional Factors, Cross-Listed Firms, Gray Culture Value, Hofstede Culture Value.

For student (graduate program), researcher, or lecturer who are interested to join on this paper presentation can register through online form, free and seating limited. For further information can contact Dept. of Accounting FEB UGM.