TIMELINESS OF ACCOUNTING REPORTS AND THEIR INFORMATIONAL CONTENT ON THE CAPITAL MARKET

Daniel Zéghal

28 citations0/0 files storedJournal of Business Finance &amp Accounting

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and XBRL

Abstract

Timeliness is recognized as an important characteristic of accounting information by the accounting profession, the users of accounting information, and the regulatory agencies. According to the evidence presented in this paper, accounting reports with shorter delay have a higher informational content than those with longer delay. At the time of release to the capital market, the effect of delay on the information content seems to be more significant in the case of the interim rather than the annual reports. This may be explained by the major characteristics which differentiate the information contained in the interim reports from that contained in the annual reports, the differences in their role in the investor's decision process, and the existence of substitute information.

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References

1969The Adjustment of Stock Prices to New Information 1972Capital Market Equilibrium with Restricted Borrowing 1979Risk measurement when shares are subject to infrequent trading 1977Estimating betas from nonsynchronous data 1968The Information Content of Annual Earnings Announcements 1981Intra-industry information transfers associated with earnings releases 1981A Possible Explanation of the Small Firm Effect 2022Financial Statement Analysis

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2010Continuous auditing for web‐released financial information 2021Principles-based accounting standards and the timeliness of annual reports: evidence from China 2018Information Content and Determinants of Timeliness Financial Reporting: Evidence From an Emerging Market 2014Convergence to IFRs and Audit Report Lag in Malaysia

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