Economic implications of corporate financial reporting in brazilian and european financial markets

Cahier de recherche n° 2010-11 E2The main objective of this study is to determine how the people involved in the accounting process consider the role of accounting information in an economic environment where capital markets play a major role. The study is also aimed at determining whether International Financial Reporting Standards (IFRS) will help fulfill this role. To this end, we compare the perceptions of financial officers, financial analysts and auditors, using Europe as a proxy for a highly developed capital market environment and Brazil as a proxy for a less developed capital market environmen