THURSDAY

Thursday 13.00-14.00 Registration

Thursday 14.00-15.30

Room 1.801

Guest Speaker : Stephen Penman: The Pricing of Earnings and Cash Flows and the Validation of Accrual Accounting.

Thursday 15.30-16.00 Coffee Break

Thursday 16.30-18.00

Chairperson: Stephen Penman Room 1.801

Chairperson: Willelm Buijnk Room 1.802

Dirty Surplus Accounting

Helena Isidro, John O’Hanlon & Steven Young. The Effect of Omitting Dirty Surplus Flows from Residual Income Value Estimates: International Evidence

Troubled Institutions

Bill Rees. A market impact study of accounting restatements.

Yue Wang. The Value Relevance of Dirty Surplus Accounting in the EU

Evi Neophytou: Three-way multidimensional scaling analysis of corporate failure in the UK

FRIDAY

Friday 9.00-10.30

Chairperson: Bill Rees Room 1.801

International Reporting Standards

Rick Cuipers & Willem Buijink. Voluntary Adoption of Non-Local GAAP in the European Union: a Study of Determinants and Consequences

Holger Daske. Economic Consequences of Adopting IFRS in the EU: Domestic Reporing Standards, International Reporting Standards and the Cost of Equity Capital

Friday 10.30-11 Coffee Break

Friday 11.00-12.30

Chairperson: Peter Pope Room 1.801

Chairperson: Stuart McLeay Room 1.802

Cost of Capital

John McCallig. Revenue Investment, Accounting Conservatism and the Valuation of Loss-Making Firms

Conservatism

Willem Buijink, Laurent Coppens & Erik Peek. Accounting Conservatism in the European Union: the Influence of Incentives, Regulation and Enforcement

Begona Giner & Carmelo Reverte. Estimating the Implied Cost of Equity Using Accounting Fundamentals

Carel Huijgen & Martien Lubberink. Earnings Conservatism, Litigation and Contracting: the Case of Cross-Listed Firms

Friday 12.30-14.00 Lunch

Friday 14.00-15.30

Chairperson: Erik Peek Room 1.801

Chairperson: Philip Joos Room 1.802

Analysts’ Forecasts I

Stefano Strampelli. Loan Loss Provisioning by EU Banks: the Effect of Analysts' Forecasts

Earnings

Juan Manuel Garcia Lara, Beatriz Garcia Osma & Araceli Mora. The Effect of Earnings Management on the Asymmetric Timeliness of Earnings

Tony Van kerckhoven. The Impact of Corporate Internet Reporting on the Properties of Analysts' Forecasts: Evidence from Western Europe

Maarten Pronk. The Impact of Intraday Timing of Earnings Announcements on Market Liquidity

Friday 15.30-16.00 Coffee Break

Friday 16.00-17.30

Chairperson: Maarten Pronk Room 1.801

Chairperson: Dimosthenis Hevas Room 1.802

Analysts’ Forecasts II

William Forbes & Carel Huijgen. Analysts' Earnings Forecasts: their Usefulness for Country- and Industry-Based Asset Allocation

Intangibles (R&D)

Anne Cazavan-Jeny & Thomas Jeanjean. Value Relevance of R&D Reporting: a Signalling Interpretation

Christina Dargenidou, Stuart McLeay, Ivana Raonic. Institutional Factors in Earnings Expectations

Juha Juntilla, Juha-Pekka Kallunki, Markku Rahiala, & Petri Sahlstrom. How Does the Financial Environment Affect the Stock Market Valuation of R&D Spending?

SATURDAY

Saturday 9.00-10.30

Chairperson: Martien Lubberink Room 1.801

Chairperson: Steve Young Room 1.802

IPOs

Elizabeth Demers & Philip Joos. A Tale of Two Bubbles: a Preliminary Look at the US Internet and Biotechnology “Bubbles”

Value Relevance

Christos Grambovas. The Value Relevance of Taxation in Europe

Curtis Asher & Neil Fargher. A Comparison of Residual Income and Comparable Firm Valuation of Initial Public Offerings

Dimosthenis Hevas. The Market Valuation of Losses under a Conservative Accounting Regime

Saturday 10.30-11 Coffee Break

Saturday 11.00-12.30

Chairperson: Renate Hecker Room 1.801

Capital Structure

Julio Martins & Andrew Stark. The Impact of Intangible Assets on Capital Structures

Olaf Ehrhardt & Matthias Schmidt. Managerial Discretion in Internal Finance: A Test of Pecking Order and Accruals Management under German Corporate and Accounting Regulation