Financial Disclosure and International Capital Mobility in Latin America
The extant literature provides evidence on the impact of financial disclosure environments on international capital mobility. However, to our knowledge, there are no such studies including Latin-American countries. We aimed to fill this void by assessing the influence of accounting information on in...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
2008-04-01
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| Series: | BAR: Brazilian Administration Review |
| Subjects: | |
| Online Access: | http://www.anpad.org.br/periodicos/arq_pdf/a_758.pdf |
| _version_ | 1797965007574532096 |
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| author | Luis Gustavo do Lago Quinteiro Otavio R. de Medeiros |
| author_facet | Luis Gustavo do Lago Quinteiro Otavio R. de Medeiros |
| author_sort | Luis Gustavo do Lago Quinteiro |
| collection | DOAJ |
| description | The extant literature provides evidence on the impact of financial disclosure environments on international capital mobility. However, to our knowledge, there are no such studies including Latin-American countries. We aimed to fill this void by assessing the influence of accounting information on international capital mobility in a twenty-two-country sample, including the three largest Latin-American countries: Argentina, Brazil and Mexico. The countries included in the sample represent around 80% of the world’s GDP from 1995 to 2001. Our empirical results show with a 99% confidence level that the degree of disclosure of value-relevant accounting information has positively influenced international capital mobility. We also show, with a 95% confidence level, that countries where financial accounting is less aligned with tax accounting present higher international capital mobility. The three Latin-American countries studied present relatively low levels of disclosure among thesampled countries. However, whereas Argentina and Brazil show low levels of capital mobility, Mexico stands out with a high capital mobility, which we reckon could be accounted for by the country’s trade and investment connections with the US and by its participation in the NAFTA. |
| first_indexed | 2024-04-11T01:52:24Z |
| format | Article |
| id | doaj.art-cb199684490f4127b36a4cccd1367fb0 |
| institution | Directory Open Access Journal |
| issn | 1807-7692 |
| language | English |
| last_indexed | 2024-04-11T01:52:24Z |
| publishDate | 2008-04-01 |
| publisher | Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
| record_format | Article |
| series | BAR: Brazilian Administration Review |
| spelling | doaj.art-cb199684490f4127b36a4cccd1367fb02023-01-03T06:11:03ZengAssociação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)BAR: Brazilian Administration Review1807-76922008-04-0152160176Financial Disclosure and International Capital Mobility in Latin AmericaLuis Gustavo do Lago QuinteiroOtavio R. de MedeirosThe extant literature provides evidence on the impact of financial disclosure environments on international capital mobility. However, to our knowledge, there are no such studies including Latin-American countries. We aimed to fill this void by assessing the influence of accounting information on international capital mobility in a twenty-two-country sample, including the three largest Latin-American countries: Argentina, Brazil and Mexico. The countries included in the sample represent around 80% of the world’s GDP from 1995 to 2001. Our empirical results show with a 99% confidence level that the degree of disclosure of value-relevant accounting information has positively influenced international capital mobility. We also show, with a 95% confidence level, that countries where financial accounting is less aligned with tax accounting present higher international capital mobility. The three Latin-American countries studied present relatively low levels of disclosure among thesampled countries. However, whereas Argentina and Brazil show low levels of capital mobility, Mexico stands out with a high capital mobility, which we reckon could be accounted for by the country’s trade and investment connections with the US and by its participation in the NAFTA.http://www.anpad.org.br/periodicos/arq_pdf/a_758.pdfinternational capital mobilityfinancial accounting disclosureinternational CAPMdirect foreign investment. |
| spellingShingle | Luis Gustavo do Lago Quinteiro Otavio R. de Medeiros Financial Disclosure and International Capital Mobility in Latin America BAR: Brazilian Administration Review international capital mobility financial accounting disclosure international CAPM direct foreign investment. |
| title | Financial Disclosure and International Capital Mobility in Latin America |
| title_full | Financial Disclosure and International Capital Mobility in Latin America |
| title_fullStr | Financial Disclosure and International Capital Mobility in Latin America |
| title_full_unstemmed | Financial Disclosure and International Capital Mobility in Latin America |
| title_short | Financial Disclosure and International Capital Mobility in Latin America |
| title_sort | financial disclosure and international capital mobility in latin america |
| topic | international capital mobility financial accounting disclosure international CAPM direct foreign investment. |
| url | http://www.anpad.org.br/periodicos/arq_pdf/a_758.pdf |
| work_keys_str_mv | AT luisgustavodolagoquinteiro financialdisclosureandinternationalcapitalmobilityinlatinamerica AT otaviordemedeiros financialdisclosureandinternationalcapitalmobilityinlatinamerica |