The market valuation of IAS versus US-GAAP accounting measures using Form 20-F reconciliations

Article Abstract:

There are many discrepancies surrounding the market valuation of US and foreign firms listed in US securities. Since the New York Stock Exchange has pressured the SEC into allowing foreign firms to list on US exchanges under International Accounting Standards (IAS), several foreign firms have complained of the difficulty involved in reconciling earnings and book value of owner's equity using US generally accepted accounting principles (US-GAAP). Investors have realized that US-GAAP provides more investment-related information than a standard IAS.

Standards, International aspects, Accounting, Capital market, Capital markets

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An examination of the voluntary recognition of acquired brand names in the United Kingdom

Article Abstract:

Many UK firms recognize acquired brand names only to obtain more favorable loan terms or equity pricing when attempting to report stronger financial positions for renegotiating debt conditions. Debt renegotiation variables and its leverage are measured using total assets obtained prior to capitalization of acquired brands. This is done to make the computed ratios directly comparable to that of other firms. The London Stock Exchange requires shareholders to seek approval for future acquisitions on their reported leverage.

Accounting and auditing, Brand name products, Brand names, Disclosure statements (Accounting), London Stock Exchange PLC

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Disclosure requirements and stock exchange listing choice in an international context

Article Abstract:

Public disclosure requirements tend to increase trading costs that, in turn, affect listing decisions of corporate insiders and allocation decisions by liquidity traders resulting in a restriction of liquidity flow. Trading is usually concentrated on highly disclosed exchanges as exchanges try to outperform the others. To maximize trading volume and lower trading costs, corporate insiders give away important information to disguise their trades.

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