Table Of Contents
Acknowledgements.
1 Introduction.
1.1 Aims and scope of the book.
1.2 Outline of the book.
1.3 References.
2 The Internationalisation of Equity Markets and Growth in Institutional Investment.
2.1 Introduction.
2.2 The growth in trade of foreign securities.
2.3 Determinants of the internationalization of equity markets.
2.4 The growth in institutional investment.
2.5 Summary.
2.6 References.
3 International Accounting Diversity and the Harmonisation of International Accounting.
3.1 Introduction.
3.2 Causes of international accounting differences.
3.3 The effects of international accounting diversity on reported figures.
3.4 The effects of international accounting differences on stock markets.
3.5 The international harmonisation of accounting.
3.6 Summary.
3.7 References.
4 Equity Analysis Techniques: Theory and Evidence.
4.1 Introduction.
4.2 The theory of equity valuation.
4.3 Equity analysis techniques used by analysts and fund managers.
4.4 The Efficient Markets Hypothesis and equity analysis techniques.
4.5 Existing empirical evidence on transnational equity analysis.
4.6 Summary.
4.7 References.
5 Information Sources Used in Equity Analysis.
5.1 Introduction.
5.2 The usefulness of annual reports and accounting information.
5.3 Direct company contact as an information source.
4
5.4 International evidence on information sources used in domestic equity analysis.
5.5 Existing empirical evidence on transnational information sources.
5.6 Summary.
5.7 References.
6 Methodology.
6.1 Introduction.
6.2 Data collection.
6.3 Analysis of the data.
6.4 Summary.
6.5 References.
7 Transnational Equity Appraisal Techniques.
7.1 Introduction.
7.2 Background of respondents.
7.3 Equity analysis techniques used.
7.4 Comparison of domestic and transnational analysis techniques.
7.5 Differences between transnational analysts and fund managers.
7.6 Transnational analysis techniques: a focus on fundamental analysis.
7.7 Discussion and conclusions.
7.8 References.
8 Transnational Information Sources.
8.1 Introduction.
8.2 Domestic and transnational information sources.
8.3 Differences between transnational analysts and fund managers.
8.4 The role of accounting information in transnational analysis.
8.5 Company contacts: uses and limitations.
8.6 The role of local analysts.
8.7 Discussion and conclusions.
8.8 References.
9 Views of International Accounting Diversity and Harmonisation.
9.1 Introduction.
9.2 The effects of international accounting differences on investment decisions.
9.3 Views on the international harmonization of accounting.
9.4 Discussion and conclusions.
9.5 References.
10 Overview and Conclusions.
10.1 Motivation for the book.
10.2 Summary of findings and implications.
10.3 Concluding remarks.
10.4 References.
Appendix.
Details of interview respondents.
Index.
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Keywords
accounting diversity
annual reports
efficient markets analysis
equities
equities trading
equity analysis techniques
equity appraisal techniques
equity markets
financial analysis
foreign securities
harmonisation
institutional investment
Transnationa Analysis
transnational accounting
Transnational Equity Analysis
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