 Overseas equity analysis by UK analysts and fund managersMark Clatworthy () and Michael John Jones The British Accounting Review, 2008, vol. 40, issue 4, 337-355 Abstract: This paper examines how UK-based analysts and fund managers cope with international differences in financial reporting systems when analysing overseas equities. This subject has become increasingly important given the internationalisation and institutionalisation of equity markets. Our results indicate that there is a substantial reliance on sources other than the annual report by both groups when analysing overseas companies. We also find considerable variation in the approach to analysing equities internationally. In particular, we find evidence that there is greater reliance on alternative sources to accounting information (such as other foreign analysts) in countries characterised as having weak equity markets. Finally, we examine the coping mechanisms that analysts and fund managers employ when analysing overseas securities, including reliance on locally based analysts, use of non-accounting information, use of more familiar accounting standards and re-stating accounts to a more familiar basis. Keywords: Accounting information; Coping strategies; Fund managers; Information sources; Investment analysts; Overseas equity analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:40:y:2008:i:4:p:337-355 DOI: 10.1016/j.bar.2008.08.001 Access Statistics for this article The British Accounting Review is currently edited by Nathan Lael Joseph and Alan Lowe More articles in The British Accounting Review from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.