The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Home Bias, Foreign Mutual Fund Holdings, and the Voluntary Adoption of International Accounting Standards
Abstract
We test the assertion that a consequence of voluntarily adopting International Accounting Standards (IAS) is the enhanced ability to attract foreign capital. Using a unique database that reports firm‐level holdings of over 25,000 mutual funds from around the world, our multivariate tests find that average foreign mutual fund ownership is significantly higher among IAS adopters. We also find that IAS adopters in poorer information environments and with lower visibility have higher levels of foreign investment, consistent with firms using IAS adoption to provide more information and/or information in a more familiar form to foreign investors. Taken together, our findings are consistent with voluntary IAS adoption reducing home bias among foreign investors and thereby improving capital allocation efficiency.
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Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Regression Diagnostics: Identifying Influential Data and Sources of Collinearity
Belsley, D. A., Kuh, E., & Welsch, R. E. (1980) · Wiley Series in Probability and Statistics · doi:10.1002/0471725153 · Cited by 7,297
The Economic Consequences of Increased Disclosure
Leuz, C., & Verrecchia, R. E. (2000) · Journal of Accounting Research · doi:10.2307/2672910 · Cited by 2,370
Preferences for Stock Characteristics As Revealed by Mutual Fund Portfolio Holdings
FALKENSTEIN, E. G. (1996) · The Journal of Finance · doi:10.1111/j.1540-6261.1996.tb05204.x · Cited by 1,058
Cited by
LEUZ, C., & WYSOCKI, P. D. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12115 · Cited by 1,760
The information content of annual earnings announcements and mandatory adoption of IFRS
Landsman, W. R., Maydew, E. L., & Thornock, J. R. (2012) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2011.04.002 · Cited by 681
Adopting a Label: Heterogeneity in the Economic Consequences Around IAS/IFRS Adoptions
DASKE, H., HAIL, L., LEUZ, C., & VERDI, R. (2013) · Journal of Accounting Research · doi:10.1111/1475-679x.12005 · Cited by 710
Metadata
- Authors
- COVRIG, V. M., DEFOND, M. L., & HUNG, M.
- Venue
- Journal of Accounting Research
- Publisher
- Wiley
- Published
- 2006-12-15
- Volume
- 45
- Issue
- 1
- Pages
- 41-70
- ISSN
- 0021-8456 (ISSN-L)
- 1475-679X
- OpenAlex
- W2007306915
- Cited by
- 514
- References
- 4
- FWCI
- 77.16
- Type
- journal article
- Language
- en
- Open access
- closed
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- COVRIG, V. M., DEFOND, M. L., & HUNG, M. (2007). Home Bias, Foreign Mutual Fund Holdings, and the Voluntary Adoption of International Accounting Standards. Journal of Accounting Research. https://doi.org/10.1111/j.1475-679x.2007.00226.x
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
