Showing results 1 - 3 of 3
| Gwen Yu
Accounting Standards and International Portfolio Holdings. Gwen Yu, March 4, 2014, Paper. "Do differences in countries' accounting standards affect global investment decisions? We explore this question by examining how accounting distance, the difference in the accounting standards used in the investor's and the investee's countries, affects the asset allocation decisions of global mutual funds. We find that investors tend to underweight…
| Suraj Srinivasan | George Serafeim | Paul M. Healy | Gwen Yu
Market competition, earnings management, and persistence in accounting profitability around the world, Paul Healy, George Serafeim, Suraj Srinivasan, Gwen Yu, January 14, 2014 , Paper. "We examine how cross-country differences in product, capital, and labor market competition, as well as earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting…
| Gwen Yu
Accounting for Crises. Gwen Yu, August 1, 2013, Paper. "We provide one of the first empirical evidence consistent with recent macro global-game crisis models, which show that the precision of public signals can coordinate crises (e.g., Angeletos and Werning, 2006; Morris and Shin, 2002, 2003). In these models, self-fulfilling crises (independent of poor fundamentals) can occur only when publicly disclosed signals of fundamentals have high…