Title

Comment on "Deregulation and risk: Evidence from earnings forecasts and stock prices"

Document Type

Article

Publication Date

1993

Department

Accounting and Finance

Abstract

The accounting convergence debate has assumed an Anglo-American vs. Continental European dichotomy. Alexander and Archer (2000) using logical analysis and d’Arcy (2001) using regulations suggest a different truth, an EU group including the U.K. vs. an American-led group. This view has been debated without result in Nobes (2003, 2004), Alexander and Archer (2003), and d’Arcy (2004). This study brings some closure by using actual reported results from recent 20-F filings. It finds the Anglo-American accounting model vs. Continental European dichotomy unsustainable.