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The Asymmetric Timeliness in the Reporting of Good and Bad News of Firms That Trade in the Athens Stock Exchange

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  • Nikolaos Eriotis
  • Dimitrios Vasiliou
  • Vasileios Zisis

Abstract

Evidence on the asymmetric timeliness in the reporting of good and bad news follows the argument that accountants tend to use discretionary accruals to over-recognise bad news in order to be conservative. The Greek reporting framework, before the adoption of International Accounting Standards, did not allow or offer opportunities for discretionary use of accruals for either recording good and/or bad news. Empirical evidence based on data from firms that trade in the Athens Stock Exchange, for the period 1993- 2002, show that differences in the timeliness in the recognition of good news and bad news exist. However, in contrast to studies that use UK data and US data bad news are not recorded conservatively.

Suggested Citation

  • Nikolaos Eriotis & Dimitrios Vasiliou & Vasileios Zisis, 2004. "The Asymmetric Timeliness in the Reporting of Good and Bad News of Firms That Trade in the Athens Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 103-103.
    • Handle: RePEc:ers:journl:v:vii:y:2004:i:3-4:p:103-
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    Cited by:

    1. Michail Bekiaris & Chrysoula Psimada & Tasos Sergios, 2014. "Internet Financial Reporting Quality and Corporate Characteristics: The Case of Construction Companies Listed in Greek and Cypriot Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 41-57.

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    More about this item

    Keywords

    Reported Earnings; Greek Firms;

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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