Bernard Raffournier

TL;DR: In this article, the authors compared the extent of disclosure in the annual reports of Swiss listed companies to possible determinants representing agency and political costs and found that size and internationality play a major role in the disclosure policy of firms.

TL;DR: In Switzerland, the use of International Accounting Standards (IAS) is allowed as an alternative to national rules for the preparation of consolidated financial statements as discussed by the authors and about 40% of Swiss listed companies do comply with IAS.

TL;DR: The relationship between accounting information and capital markets has been the subject of numerous studies, especially in the US as discussed by the authors, and the corresponding evidence in Europe is examined in this article, where the authors classify the European literature into three groups: studies of the market reaction to newly released accounting information; studies of long-term association between stock returns and accounting numbers; studies devoted to the use of accounting data by investors and to the impact of market pressure on accounting choices.

TL;DR: This paper examined the impact of the 2008-2009 financial crisis on the earnings management behavior of European-listed firms and found that earnings management has significantly decreased in the crisis years in most of the 16 countries under review.

TL;DR: In this article, the authors investigate the value relevance of earnings on the Bucharest Stock Exchange and find that the association between accounting earnings and stock returns is comparable to the levels reported by studies conducted on more mature markets, and that it is higher for securities issued by small companies.