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Robert Gutsche
Title
Prof. Ph.D.
Last Name
Gutsche
First name
Robert
Email
robert.gutsche@unisg.ch
Now showing
1 - 10 of 65
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PublicationAccounting and Performance Issues in Swiss Electricity Trading( 2020-01-08)Type: journal article
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PublicationThe Shortcomings of Segment Reporting and their Impact on Analysts’ Earnings ForecastsIn this paper, we deliver US-sample based evidence that suggests that segment reporting under the “management approach” of ASC 280 (SFAS 131) biases analysts’ earnings per share (EPS) forecasts. We show that the error in EPS forecasts corresponds to a profitability “gap” between profitability aggregated from segment reporting and profitability computed from consolidated financial statements. In particular, the forecast error is associated with the profitability gap–and even its direction–when reported segments lack major profitability components such as assets, revenue, or operating income. Furthermore, we find that the EPS forecast error increases with an increased segment split when controlling for diversification, which suggests that disaggregation per se does not improve the ability of security analysts to forecast earnings. Our panel consists of a sample of 591 US listed companies and covers the period 2009 to 2016.Type: journal article
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PublicationFirm-value effects of CSR disclosure and CSR performanceType: journal articleJournal: Journal of Environmental Law and PolicyVolume: 40Issue: 4
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PublicationThe Roadmap to Effective Segment Reporting, At the Core of Value DiscoveryCurrent segment reporting does not assist investors in their use of valuation models. Investors would like more segment-level information. These are key findings of the Post-Implementation Review (PIR) of IFRS 8 (2013) and PIR SFAS 131 (2012). They highlight that the development and improvement of segment reporting is long overdue. Although it is as a critical cornerstone for forecasting future firm performance and firm value, the current status quo of segment reporting does not enable investors to perform segment analysis with a focus on operating activities,profitability, and growth. In order to address key concerns of the PIR on segment reporting,the IASB proposes the disclosure of additional line items to the segment statements (IFRS 8 Staff Paper, October 2016). We appreciate the IASB’s initiative to improve segment reporting.At the same time, we would like to emphasize that segment reporting from the investors’perspective can only be improved if it aims to identify value drivers, thus sharpening the focuson operations.Type: journal articleJournal: IRZ: Zeitschrift für internationale RechnungslegungIssue: 4
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PublicationEquity-settled Share-based Compensations : Fairly Presented and Decision Useful?Type: journal articleJournal: IRZ: Zeitschrift für internationale RechnungslegungIssue: 2
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PublicationGoodwill in der Bilanz:Zum fragwürdigen Ansatz von Anschaffungskosten einer Investition, die sich schlussendlich „amortisieren“ muss – Ein Plädoyer, Spekulation wieder Anlegern zu überlassenType: journal articleJournal: IRZ: Zeitschrift für internationale RechnungslegungVolume: Sep 2016Issue: 9
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PublicationIFRS 13 Fair Value Measurement: From Cost to Value? : Eine Bestandsaufnahme des Status quoType: journal articleJournal: IRZ : Zeitschrift für internationale RechnungslegungVolume: 10Issue: 3
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PublicationIntangibles, quo vadis? : Eine kritische Analyse von IFRS 13 und IFRS 3Type: journal articleJournal: IRZ : Zeitschrift für internationale RechnungslegungVolume: 10Issue: 5
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PublicationBewertungsrelevanz von Corporate Social Responsibility (CSR-) Informationen - Eine empirische AnalyseType: journal articleJournal: IRZ : Zeitschrift für internationale RechnungslegungVolume: 10Issue: 11
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PublicationThe Value-relevance of CSR Reporting QualityWe examine the value?relevance of corporate social responsibility (CSR) reporting quality in the so?called D/A/CH?region (Germany, Austria, and Switzerland). We provide empirical evidence that higher CSR reporting quality reduces stock return volatility and abnormal returns from unexpected CSR performance risk. We argue, when the quality of CSR reporting is high, then the market is pricing firms' future CSR performance more precisely. We also find that the amount and quality of CSR reporting has significantly increased from 2002 to 2012. Particularly, the use of separate sustainability reports and integrated reports has increased over time. The data is hand?collected and obtained through an analysis of CSR reporting in annual reports, status reports, integrative reports, and CSR reports. The data set represents the complete composition of DAX30 (Germany), ATX (Austria), and SMI (Switzerland) listed firms as of December 2012.Type: journal articleJournal: Journal of Environmental Law and PolicyVolume: 37Issue: 4