Abstract
Olibe (2016) uses price and trading volume responses around IFRS earnings disclosures for U.K. cross-listed firms trading as American Depository Receipts in U.S. equity markets to investigate whether such disclosures provide information to market participants over and above U.S. GAAP earnings disclosures. He finds evidence of significant price and trading volume responses for IFRS earnings disclosures, leading to the conclusion that market participants find that those disclosures facilitate trading in U.S. equity markets. This discussion focuses on the paper's incremental contribution to the literature and offers suggestions for improvements in the research design and analyses.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have