International differences in how companies report their financial information affect how they reflect changes in market value over time. Countries with common law focus on public disclosure to address information gaps, while code law countries rely on private communication. Code law countries directly connect financial reports to current payouts, making their financial information less up-to-date, especially when showing losses. Regulations, taxes, and legal actions also play a role in how financial information is reported in common law countries. These findings are important for analysts, regulators, and those involved in corporate governance.