Search results for "Information system"
showing 10 items of 2404 documents
Options and Accounting Information: Empirical Evidence in Stock and Derivative Markets
2014
This study investigates the informational role of options trading in the price discovery process around the dissemination of accounting information, specifically annual and quarterly earnings announcements. Firstly, we examine the effect of options markets by analyzing stock market reaction to earnings news conditional on the availability of options markets. Secondly, we examine options-trading activity around the release of earnings news. Results show that when options trading is available, the options market enhances the price efficiency of equity markets. Moreover, the dissemination of earnings news is associated with significant unusual activity in the options market due to informed tra…
Earnings sustainability, economic conditions and the value relevance of accounting information
2013
Summary This study demonstrates that the value relevance of accounting information is influenced by the ability to capitalize investments in valuable resources. We use data from Sweden to show that firms that operate in industries in which accounting conservatism limits this capitalization display lower value relevance as a result of more unsustainable earnings components. However, when controlling for the different properties of sustainable and unsustainable earnings components, the difference vanishes. Moreover, we show that firms operating in industries in which more investments are immediately expensed display systematic temporal variations in the level of value relevance. We contend th…
Empirical evidence of the effect of European accounting differences on the stock market valuation of earnings and book value
2002
Recently, a new dimension has been added to research in accounting harmonization by studying the effects of accounting practices and regulations on share price and return movements. Although there is an agreement of mutual recognition in the European stock markets of financial statements adapted to the directives, the differences between the European countries are still great. The objective of this study is to investigate the value relevance of alternative accounting measures (earnings and book value) constructed under different accounting systems in Europe. We investigate the differences in accounting practices through the relationship between earnings and book value, and the stock market …
The value relevance of accounting information during the global financial crisis: evidence from Norway
2013
This study investigates how the recent financial crisis influenced the value relevance of accounting information. The empirical analyses show that the book values of equity explained most of the cross-sectional variation in stock prices during the crisis. Still, the earnings response coefficient increased significantly during the period of the crisis. The analysis suggests a separation between the information content of book values and earnings in a crisis situation. The findings are consistent with book values being highly relevant as a proxy variable for liquidation values in a crisis, whereas earnings, in contrast to the balance sheet, capture information about the future earning capabil…
On the Asymmetric Recognition of Good and Bad News in France, Germany and the United Kingdom
2001
We investigate whether accounting systems recognise bad news more promptly in earnings than good news, where news is proxied by changes in share price. The analysis is based on a sample of firm/years drawn from France, Germany, and the UK during 1990 to 1998. These three countries are the originators of three distinct legal traditions. Previous studies have argued that asymmetric recognition, one manifestation of conservative accounting, is sensitive to legal background and history. We find that in all three countries the contemporaneous association between earnings and returns is much stronger for bad news (i.e. when price changes are negative) than for good news, and although the results …
Assessing forest landscape structure using geographic windows.
2001
Landscape structure, interpreted as indicator of functional processes, has become a main attribute of multiresource forest inventories, enhancing its value with respect to society needs. This approach implies effective use of earth observation techniques and geographic information systems to obtain a global view of the inventoried landscapes and to understand the ecological functions of large spatially-heterogeneous landscape mosaics. Landscape structure often reveal extremely complex patterns that can only be very roughly characterized by methods of Euclidean geometry. Conversely, fractals can be applied to adequately describe many of the irregular, fragmented patterns found in nature. In …
Permanent Stations for Calibration/Validation of Thermal Sensors over Spain
2016
The Global Change Unit (GCU) at the University of Valencia has been involved in several calibration/validation (cal/val) activities carried out in dedicated field campaigns organized by ESA and other organisms. However, permanent stations are required in order to ensure a long-term and continuous calibration of on-orbit sensors. In the framework of the CEOS-Spain project, the GCU has managed the set-up and launch of experimental sites in Spain for the calibration of thermal infrared sensors and the validation of Land Surface Temperature (LST) products derived from those data. Currently, three sites have been identified and equipped: the agricultural area of Barrax (39.05 N, 2.1 W), the mars…
ENVIRONMENTAL QUALITY OF SOFT-BOTTOM IN HAIFA BAY (ISRAEL): AMPHIPOD ASSEMBLAGES
2016
Ecological information concerning amphipods and representation of their spatial distribution through GIS provides an estimate of local environmental quality.
Acceptance and Continuance Intention of Web-based Learning Technologies (WLT) Use among University Students in a Baltic Country
2006
This paper presents the acceptance and "continuance intention" of use for Web-based learning tools among University students in an Eastern European Country, namely Estonia. In this paper, we used the technology acceptance model (TAM), which was extended to include two external constructs: the technology and user characteristics. These two constructs were modeled to influence the perceived ease of use, and perceived usefulness constructs in the TAM. Further, another construct - continuance intention - in the information systems (IS) post-adoption literature was linked to the TAM. We used a sample of 72 students from four local higher educational institutions that have experience with a speci…
A European Multi Lake Survey dataset of environmental variables, phytoplankton pigments and cyanotoxins
2018
Under ongoing climate change and increasing anthropogenic activity, which continuously challenge ecosystem resilience, an in-depth understanding of ecological processes is urgently needed. Lakes, as providers of numerous ecosystem services, face multiple stressors that threaten their functioning. Harmful cyanobacterial blooms are a persistent problem resulting from nutrient pollution and climate-change induced stressors, like poor transparency, increased water temperature and enhanced stratification. Consistency in data collection and analysis methods is necessary to achieve fully comparable datasets and for statistical validity, avoiding issues linked to disparate data sources. The Europea…