Weitere Artikel dieser Ausgabe durch Wischen aufrufen
We investigate the effects of mandatory International Financial Reporting Standards (IFRS) adoption on the comparability of financial accounting information. Using a set of alternative comparability measures, our results suggest that the overall comparability effect of mandatory IFRS adoption is marginal. We hypothesize that firm-level heterogeneity in IFRS compliance explains the limited comparability effect. To test this conjecture, we first hand-collect data on IFRS compliance for a sample of German and Italian firms and find that firm-, region-, and country-level incentives systematically shape IFRS compliance. We then use these compliance determinants to explain the variance in the comparability effect of mandatory IFRS adoption and find that only firms with high compliance incentives experience substantial increases in comparability. Moreover, we document that firms from countries with tighter reporting enforcement experience larger IFRS comparability effects, and that public firms adopting IFRS become less comparable to local GAAP private firms from the same country.
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
Ahmed, A. S., Neel, M. J., & Wang, D. D. (2013). Does mandatory adoption of IFRS improve accounting quality? Preliminary evidence. Contemporary Accounting Research, 30, 1344–1372. CrossRef
Alves, P., Pope, P., & Young, S. (2007). International information transfers: An analysis of European companies. Working paper, Lancaster University.
Ashbaugh, H. (2001). Non-US Firms’ accounting standard choices. Journal of Accounting and Public Policy, 20, 129–153. CrossRef
Ashbaugh, H., & Warfield, T. (2003). Audits as a corporate governance mechanism: Evidence from the German market. Journal of International Accounting Research, 2, 1–21. CrossRef
Atwood, T. J., Drake, M. S., Myers, J. N., & Myers, L. A. (2011). Do earnings reported under IFRS tell us more about future earnings and cash flows? Journal of Accounting and Public Policy, 30, 103–121. CrossRef
Bae, K. H., Tan, H., & Welker, M. (2008). International GAAP differences: The impact on foreign analysts. The Accounting Review, 83, 593–628. CrossRef
Ball, R., & Shivakumar, L. (2005). Earnings quality in UK private firms: Comparative loss recognition timeliness. Journal of Accounting and Economics, 39, 83–128. CrossRef
Ball, R., & Shivakumar, L. (2006). Role of accruals in asymmetrically timely gain and loss recognition. Journal of Accounting Research, 44, 207–242.
Barth, M. E., Landsman, W. R., Lang, M., & Williams, C. (2012). Are IFRS-based and US GAAP-based accounting amounts comparable? Journal of Accounting and Economics, 54, 68–93. CrossRef
Beneish, M. D., Miller, B. P., & Yohn Lombardi, T. (2012). The impact of financial reporting on equity versus debt markets: Macroeconomic evidence from mandatory IFRS adoption. Working paper, Indiana University, 2012. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1403451.
Bertrand, M., Duflo, E., & Mullainathan, S. (2004). How much should we trust differences-in-differences estimates? Quarterly Journal of Economics, 119, 249–275. CrossRef
Boltho, A., Carlin, W., & Scaramozzino, P. (1999). Will East Germany become a new Mezzogiorno? Journal of Comparative Economics, 24, 241–264. CrossRef
Brochet, F., Jagolinzer, A., & Riedl, E. J. (2013). Mandatory IFRS adoption and financial statement comparability. Contemporary Accounting Research, 30, 1373–1400. CrossRef
Brown, P., Preiato, J., & Tarca, A. (2013). Measuring country differences in enforcement of accounting standards: An audit and enforcement proxy. Working Paper, University of New South Wales and University of Western Australia, 2013. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2286029.
Christensen, H. B. (2012). Why do firms rarely adopt IFRS voluntarily? Academics find significant benefits and the costs appear to be low. Review of Accounting Studies, 17, 518–525. CrossRef
Christensen, H. B., Hail, L., & Leuz, C. (2013). Mandatory IFRS reporting and changes in enforcement. Journal of Accounting and Economics, 56, 147–177. CrossRef
Christensen, H. B., & Nikolaev, V. V. (2013). Does fair value accounting for non-financial assets pass the market test? Review of Accounting Studies, 18, 734–775. CrossRef
Daske, H., Hail, L., Leuz, C., & Verdi, R. S. (2008). Mandatory IFRS reporting around the world: Early evidence on the economic consequences. Journal of Accounting Research, 46, 1085–1142.
Daske, H., Hail, L., Leuz, C., & Verdi, R. S. (2013). Adopting a label: Heterogeneity in the economic consequences of IFRS adoptions. Journal of Accounting Research, 51, 495–547.
De Franco, G., Kothari, S. P., & Verdi, R. S. (2011). The benefits of financial statement comparability. Journal of Accounting Research, 49, 895–931. CrossRef
Dechow, P. (1994). Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals. Journal of Accounting and Economics, 18, 3–42. CrossRef
Defond, M. L., Hu, X., Hung, M., & Li, S. (2011). The impact of IFRS adoption on U.S. mutual fund ownership: The role of comparability. Journal of Accounting and Economics, 51, 240–258. CrossRef
Dichev, I. D., & Tang, V. W. (2009). Earnings volatility and earnings predictability. Journal of Accounting and Economics, 47, 160–181. CrossRef
Djankov, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2002). The regulation of entry. Quarterly Journal of Economics, 117, 1–35. CrossRef
Eckaus, R. S. (1961). The North–South differential in Italian economic development. Journal of Economic History, 21, 285–317. CrossRef
European Commission (EC). (2002). Regulation no. 1606/2002 of the European parliament and of the Council of 19 July 2002 on the application of international accounting standards. Brussels: EC.
Firth, M. A. (1976). The impact of earnings announcements on the share price behavior of similar type firms. Economic Journal, 86, 296–306. CrossRef
Gerschenkron, A. (1955). Notes on the rate of industrial growth in Italy, 1881–1913. Journal of Economic History, 15, 360–375.
Glaum, M., Schmidt, P., Street, D. L., & Vogel, S. (2013). Compliance with IFRS 3- and IAS 36-required disclosures across 17 European countries: company- and country-level determinants. Accounting and Business Research, 43, 163–204. CrossRef
Hail, L., Leuz, C., & Wysocki, P. (2010). Global accounting convergence and the potential adoption of IFRS by the U.S. (Part I): Conceptual underpinnings and economic analysis. Accounting Horizons, 24, 355–394. CrossRef
Holthausen, R. E. (2003). Testing the relative power of accounting standards versus incentives and other institutional features to influence the outcome of financial reporting in an international setting. Journal of Accounting and Economics, 36, 271–283. CrossRef
Horton, J., & Serafeim, G. (2010). Market reaction to and valuation of IFRS reconciliation adjustments: First evidence from the UK. Review of Accounting Studies, 15, 725–751. CrossRef
International Accounting Standards Committee (IASC) Foundation. (2005). Constitution. London: IASC.
Joos, P., & Leung, E. (2013). Investor perceptions of the potential IFRS adoption in the United States. The Accounting Review, 88, 577–609. CrossRef
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (1999). The quality of government. The Journal of Law, Economics, and Organization, 15, 222–279. CrossRef
Landsman, W. R., Maydew, E. L., & Thornock, J. R. (2011). The information content of annual earnings announcements and mandatory adoption of IFRS. Journal of Accounting and Economics, 69, 505–527.
Leuz, C. (2010). Different approaches to corporate reporting regulation: How jurisdictions differ and why. Accounting and Business Research, 40, 229–256. CrossRef
Li, S. (2010). Does mandatory adoption of International Financial Reporting Standards in the European Union reduce the cost of equity capital? The Accounting Review, 85, 607–636. CrossRef
Ozkan, N., Singer, Z., & You, H. (2012). Mandatory IFRS adoption and the contractual usefulness of accounting information in executive compensation. Journal of Accounting Research, 50, 1077–1107. CrossRef
SEC. (2010). Commission statement in support of convergence and global accounting standards. Washington, DC: SEC.
SEC. (2011). Work plan for the consideration of incorporating International Financial Reporting Standards into the financial reporting system for U.S. Issuers—An analysis of IFRS in practice. Washington, DC: SEC.
Street, D. L. (2002). GAAP 2001—Benchmarking national accounting standards against IAS: Summary of results. Journal of International Accounting, Auditing and Taxation, 11, 77–90. CrossRef
Street, D. L., & Gray, S. J. (2001). Observance of international accounting standards: Factors explaining non-compliance. ACCA research report no. 74.
Terrasi, M. (1999). Convergence and divergence across Italian regions. The Annals of Regional Science, 33, 491–510. CrossRef
Wang, C. (2011). Accounting standards harmonization and financial statement comparability: Evidence from transnational information transfer. Working paper, University of Pennsylvania, 2011. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1754199.
Wu, R., & Zhang, I. (2010). Accounting integration and comparability: Evidence from relative performance evaluation around IFRS adoption. Working paper, University of Rochester, 2010. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1650782.
Yip, R. Y. W., & Young, D. (2012). Does mandatory IFRS adoption improve information comparability? The Accounting Review, 87, 1767–1789. CrossRef
Yu, G. (2010). Accounting standards and international portfolio holdings: Analysis of cross-border holdings following mandatory adoption of IFRS. Doctoral dissertation, University of Michigan.
- What drives the comparability effect of mandatory IFRS adoption?
- Springer US
Neuer Inhalt/© Stellmach, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta, Frankfurt School