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The Use of Foreign Accounting Data in UK Financial Institutions

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  • Samantha Miles
  • Christopher Nobes

Abstract

Globalisation of securities markets has caused many members of the investment community to use foreign accounting data. This paper examines how this foreign data is used by some London‐based participants in the market. Areas for examination are established after looking at the extensive published research on the use of domestic accounting data and the small amount of published research in an international context. Twenty‐one market participants were interviewed, although four of these were treated as a pilot, so that most findings were based on 17 interviewees working for six institutions. If this sample is representative, our findings suggest that market participants are inexpert in accounting; sector experts see international accounting differences as a hindrance but country experts do not; participants use foreign accounting data for analysis but very few adjust it (although fund managers think that analysts do); there is some avoidance of countries or sectors for accounting reasons; and there is very little knowledge of international accounting differences.

Suggested Citation

  • Samantha Miles & Christopher Nobes, 1998. "The Use of Foreign Accounting Data in UK Financial Institutions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 25(3‐4), pages 309-328, April.
    • Handle: RePEc:bla:jbfnac:v:25:y:1998:i:3-4:p:309-328
    DOI: 10.1111/1468-5957.00189
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    Cited by:

    1. Clatworthy, Mark & Jones, Michael John, 2008. "Overseas equity analysis by UK analysts and fund managers," The British Accounting Review, Elsevier, vol. 40(4), pages 337-355.
    2. Beattie, Vivien, 2005. "Moving the financial accounting research front forward: the UK contribution," The British Accounting Review, Elsevier, vol. 37(1), pages 85-114.
    3. Andrew Marshall & Pauline Weetman, 2007. "Modelling Transparency in Disclosure: The Case of Foreign Exchange Risk Management," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(5‐6), pages 705-739, June.

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