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Why do you speak English (in your annual report)?

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Author Info

  • Jeanjean, Thomas

    ()

  • Stolowy, Hervé

    ()

  • Lesage, Cédric

    ()

Abstract

In this study the authors analyze the factors associated with the publication of an English-language annual report in non-English-speaking countries. Using a sample of 3,994 firms from 27 countries in 2003, they find that about 50% of the sample firms issue annual reports in English. Our findings suggest that the decision to publish an English annual report is related to the internationalization process (via foreign sales), language barriers (via language distance and language importance), governance (via ownership structure) and financial concerns (via the need for external financing, capital market size and cross-listing).

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Bibliographic Info

Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 904.

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Length: 32 pages
Date of creation: 01 Sep 2008
Date of revision:
Handle: RePEc:ebg:heccah:0904

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Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
Web page: http://www.hec.fr/
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Related research

Keywords: International financial reporting; annual report; language; cost-benefit analysis; logistic regression;

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References

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Cited by:
  1. Thomas Jeanjean & Hervé Stolowy & Michael Erkens, 2012. "Economic consequences of adopting English for annual reports," Post-Print hal-00690931, HAL.
  2. Stolowy, Hervé & Jeanjean, Thomas & Erkens, Michael, 2011. "The economic consequences of increasing the international visibility of financial reports," Les Cahiers de Recherche 957, HEC Paris.

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