...Jingduan Li; Youngdeok Lim; Richard D. Morris ABSTRACT We investigate changes to the use of private debt covenants following the mandatory adoption of IFRS globally. Using a difference-in-differences specification, we find a significant decrease in accounting-based debt covenants (mainly balance...

... cross-listing foreign private issuers earnings transparency IFRS Previous studies find that stock markets with transparent information and stringent regulatory environments, such as U.S. main stock exchanges, benefit large and established foreign private issuers (FPIs). This study examines...

...Yoshiaki Amano ABSTRACT This study examines how firm behaviors are affected by the voluntary adoption of International Financial Reporting Standards (IFRS) in Japan, which has expanded the scope for the capitalization of intangible assets compared with the Japanese Generally Accepted Accounting...

... IFRS. The Italian GAAPs are ruled in the Civil Code and are complemented by additional, more detailed standards issued by the Italian Accounting Organization (Organismo Italiano di Contabilità [OIC]). Therefore, Italian GAAPs consist of these two sets of rules: Civil Code and the OIC standards...

... is necessary for all of the other characteristics to matter, is strong legal institutions. I conclude that the IFRS research discussed here finds several qualitative characteristics to be useful in explaining “why accounting matters.” Specifically, (1) reliability, as captured by strong legal institutions...

... and the Securities and Exchange Commission—Quebec firms cross-listed in the U.S. restate at a rate similar to the ROC. Finally, we document that Canadian firms restate less frequently after adopting IFRS, consistent with more principles-based standards being more difficult to enforce ex post than more rules...

...Hsiao-Lun Lin; Shu-Ling Yeh; Ai-Ru Yen ABSTRACT Following the trend toward a globalized accounting standard, many non-English-speaking countries have adopted the International Financial Reporting Standards (IFRS). Translation of the IFRS from English to other languages is inevitable; thus...

... statements under International Financial Reporting Standards (IFRS). Distinct from prior research focusing on the equity market, we investigate the impact of eliminating the 20-F reconciliation on the cost of debt in the U.S. listed foreign bond market. Employing a difference-in-differences approach, we...

... (IFRS) (MANDATORY sample). Additionally, we utilize a control sample of German firms that report using IFRS during the entire sample period (CONTROL sample). In both the MANDATORY and CONTROL samples, we find evidence of decreased conditional conservatism, increased value relevance of earnings...

...Korok Ray ABSTRACT I build a model of neoclassical production to examine the capital market and welfare effects of a uniform accounting standard (like IFRS). Firms vary in their cost of compliance to the standard, and investors vary in their cost of learning diverse standards for capital...

...Michael T. Dugan; Elizabeth H. Turner; Clark M. Wheatley ABSTRACT In 2007, the Securities and Exchange Commission (SEC) eliminated the 20-F requirement to reconcile IFRS financial disclosures to U.S. GAAP. We find that this change in SEC regulation is associated with an overall decrease...

...Elizabeth Felski ABSTRACT Global adoption of International Financial Reporting Standards (IFRS) is thought to increase financial statement reliability and comparability. Although IFRS is required or allowed in over 130 nations, some countries modify IFRS as issued by the International Accounting...

...Yi-Hung Lin; Hua-Wei (Solomon) Huang ABSTRACT This study examines the impact of the Securities and Exchange Commission's (SEC) policy in 2007 to eliminate the Form 20-F reconciliation requirements for foreign cross-listed firms following the International Financial Reporting Standards (IFRS...

... U.S. GAAP and IFRS principles, especially in terms of the guidelines surrounding business combinations and the concept of control. Now, given the similarity of the U.S. GAAP and IFRS equity investment accounting standards and their more recent emphasis on the control concept, one would not expect...

...Denis Cormier; Michel L. Magnan ABSTRACT The paper focuses on Canada's enactment of IFRS for publicly accountable firms. We investigate whether IFRS meet one of their stated goals, which is to improve financial statements' relevance for stock markets. Results show that migrating from Canadian GAAP...

...Alexsandro Broedel Lopes; Martin Walker; Ricardo Luiz Menezes da Silva ABSTRACT In this study we investigate the complementary effect of firm-level incentives and IFRS adoption on the informativeness of accounting reports in Brazil. Using a specially constructed corporate governance index...

... differences in national institutional structures when investigating the determinants and effects of institutional variables on accounting, to address some limitations of within-jurisdiction research, and to obtain a wider range of changes to exploit (the paradigm example being the advent of IFRS). I...

... is driven by firms that transform bearer plants, i.e., living plants that ultimately bear produce for more than one year. We also document that fair value combined with auditor attested IFRS use results in a lower cost of debt for firms transforming other types of biological assets. Our cross-country study...

...Maria T. Caban-Garcia; Haihong He ABSTRACT This study examines the impact on the comparability of earnings of two important events that occurred in 2005 in the Scandinavian region: the European Union-mandated adoption of International Financial Reporting Standards (IFRS) and the mergers between...

...Steve Lin ABSTRACT Bova and Pereira (2012) investigate two important and interesting research questions: (1) why do firms comply with International Financial Reporting Standards (IFRS) in a developing country where enforcement is weak, and (2) do firms benefit from IFRS compliance in a developing...