Is the convergence of accounting standards good for stock markets?

This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms.published_or_final_versio

Estimating the fractionally integrated process in the presence of measurement errors

This paper studies the asymptotic bias of the differencing parameter estimator when data are measured with error. The estimator is established via the partial autocorrelation function. Factors that affect the direction of bias of the estimator are found. © 1999 Elsevier Science S.A. All rights reserved.link_to_subscribed_fulltex