A review of markets-based international accounting research.

ABSTRACT: This paper discusses challenges and opportunities facing international accounting researchers and demonstrates the relevance of markets-based international accounting research to those of recent origin to the area. We review new research in the following areas: required GAAP for foreign-listed firms and adoption of international standards, accounting classifications, earnings management, the impact of foreign operations upon firm valuation, capital market anomalies, and accounting reforms. We also provide suggestions for coming time research in each area and examples of domestic research issues that can be addressed with international data. The opportunities for conducting international accounting research are many and growing.

Keywords: capital