 Can investors rely on the quality of earnings figures published by listed and non-listed Russian firms?Alexandra Bagaeva, Juha-Pekka Kallunki and Hanna Silvola International Journal of Accounting, Auditing and Performance Evaluation, 2008, vol. 5, issue 1, 30-49 Abstract: This paper investigates earnings quality of both listed and non-listed Russian firms and explores whether foreign ownership affects the quality of earnings published by non-listed Russian firms. Russia, the largest European transitional economy, is an increasingly attractive market for foreign investors. Our empirical results show that Russian firms listed on a stock exchange report earnings of relatively good quality. We do not find support for the hypothesis that non-listed Russian firms co-owned by foreign investors report earnings of better quality than do exclusively Russian-owned non-listed firms. However, we find that non-listed Russian firms with foreign ownership report earnings with more timely recognition of economic gains than exclusively Russian-owned non-listed firms do. Our results are robust for different specifications of the earnings quality model. Keywords: earnings quality; Russian firms; foreign ownership; reporting incentives; Russia; foreign investors; stock exchange; listed firms; non-listed firms. (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:ids:ijaape:v:5:y:2008:i:1:p:30-49 Access Statistics for this article More articles in International Journal of Accounting, Auditing and Performance Evaluation from Inderscience Enterprises Ltd |
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