Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122389914> ?p ?o ?g. }
- W3122389914 abstract "In this paper, we investigate the economic consequences of using English as an external reporting language for firms from non- English speaking countries. We use a difference-indifferences technique to estimate the effect of language. We use a sample of 166 firms that start publishing an annual report in English in addition to an annual report in their local language. We benchmark these firms to a sample of control firms defined via a propensity score matching procedure to control for endogeneity in the choice of the reporting language. We show that information asymmetry (measured as the bid-ask spread) is reduced, analyst following is enlarged and a greater investor base (measured as a higher number of foreign investors) is attracted. Our findings suggest that language per se may contribute to an increase in market efficiency by providing information accessible to more market participants." @default.
- W3122389914 created "2021-02-01" @default.
- W3122389914 creator A5030574941 @default.
- W3122389914 creator A5056166593 @default.
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- W3122389914 date "2010-05-10" @default.
- W3122389914 modified "2023-10-16" @default.
- W3122389914 title "Really “Lost in translation”? The economic consequences of issuing an annual report in English" @default.
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