International GAAP Differences: The Impact on Foreign Analysts
International GAAP Differences: The Impact on Foreign Analysts
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DOI：
10.2308/accr.2008.83.3.593
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发表时间：
2008-05
期刊：
影响因子：
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通讯作者：
Kee‐Hong Bae;Hongping Tan;Michael Welker
中科院分区：
文献类型：
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作者：
Kee‐Hong Bae;Hongping Tan;Michael Welker
本文研究了各国会计准则差异与国外分析师跟踪和预测准确性之间的关系。我们为1176个国家/地区制定了两种衡量公认会计原则（GAAP）差异的方法。然后，我们检查这些会计差异措施对外国分析师的影响。在此过程中，我们利用了一个独特的数据库，该数据库识别了全球金融分析师的位置，创建了一个覆盖6888名外国分析师的样本，这些分析师在1998年至2004年期间为49个国家的6169家公司做出了43968次预测。我们发现，GAAP在两个国家之间的差异程度与外国分析师的跟踪和预测准确性呈负相关。我们的研究结果表明，GAAP差异与金融分析师的经济成本有关。
This paper investigates the relation between differences in accounting standards across countries and foreign analyst following and forecast accuracy. We develop two measures of differences in generally accepted accounting principles (GAAP) for 1,176 country‐pairs. We then examine the impact of these measures of accounting differences on foreign analysts. In so doing, we utilize a unique database that identifies the location of financial analysts around the world, creating a sample that covers 6,888 foreign analysts making a total of 43,968 forecasts for 6,169 firms from 49 countries during 1998–2004. We find that the extent to which GAAP differs between two countries is negatively related to both foreign analyst following and forecast accuracy. Our results suggest that GAAP differences are associated with economic costs for financial analysts.