[Download] "Financial Disclosure and International Capital Mobility in Latin America." by Brazilian Administration Review - BAR ~ eBook PDF Kindle ePub Free
eBook details
- Title: Financial Disclosure and International Capital Mobility in Latin America.
- Author : Brazilian Administration Review - BAR
- Release Date : January 01, 2008
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 313 KB
Description
INTRODUCTION Since the 1960s, several empirical studies on the effects of the disclosure of accounting information on capital markets have been produced. A recent work assessed the influence of accounting information on international capital mobility in a study involving 23 countries (Young & Guenther, 2003). This work concludes that countries whose legislation enforces higher levels of disclosure of accounting information and where financial accounting is not influenced by tax accounting present higher international capital mobility. The evidence indicates that a higher level of relevance of the accounting information produced in a country contributes towards reducing the information asymmetry on the markets, thus lowering the risk of foreign investors making wrong decisions when trading with better informed domestic investors and, consequently, increasing the flow of resources of international investors to the local capital market.
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