DOI

10.1016/j.irfa.2007.07.002

Abstract

In this study, we examine financial reporting lags, the incidence of late filing, and the relationship between reporting lags, firm performance and the degree of capital market scrutiny. We use a large sample of firms spanning 22 countries over an eleven-year period. A focal point of our analysis is whether the incidence of late filing, and the relations between reporting days and other variables, differ systematically between common and code law countries. Relative to U.S. firms, we report that the time taken and allowed for filing is usually longer in other countries and that the statutory requirement is more frequently violated. Timely filing is found to be less frequent in code law countries. Poor firm performance and longer reporting lags are more strongly linked in common law countries. We also find that whereas greater capital market scrutiny and more timely filing are related, there is less support for a relationship between the level of debt financing and timely filing in code law countries.

Document Type

Post-print Article

Publication Date

12-2008

Publisher Statement

Copyright © 2008 Elsevier Inc.. Article first published online: 20 JULY 2007. DOI: 10.1016/j.irfa.2007.07.002

The definitive version is available at: http://ac.els-cdn.com/S1057521907000488/1-s2.0-S1057521907000488-main.pdf?_tid=9473d1ec-6377-11e4-90d6-00000aacb362&acdnat=1415032777_96ef74dc42a8c7a2da6072a605c61018

Full citation:

Conover, C. Mitchell, Robert E. Miller, and Andrew Szakmary. "The Timeliness of Accounting Disclosures in International Security Markets." International Review of Financial Analysis 17, no. 5 (December 2008): 849-69. doi:10.1016/j.irfa.2007.07.002.

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