Mandatory financial reporting processes and outcomes: a reply

Abstract

Introduction. First and foremost, we thank the discussant and agree with his statement that academic research on the usefulness of financial instruments reporting standards is essential, timely, relevant, and important. Indeed, our study calls for further work to be done on this worthy topic and provides some suggestions. We structure this response document as follows. First, for those who are new to the area, we describe what motivated – and continues to motivate – our work in this field, and hope that in-so-doing we might inspire others to explore related questions. Second, we present the research aims and objectives. Third, we outline the key results. Fourth, we respond to individual comments raised by the reviewer. Finally we offer our thanks to the reviewers, the editor, as well as participants at The International Journal of Accounting symposium for their helpful comments and suggestions. We note that a number of issues raised have been incorporated in the final version of our paper. [...]