Student or educator? Sign up with your school email and get 6 months of Pro free.
CoChat
Sign Up
Cited by 452

The DOI matches its Crossref record; 12 of the 12 references it cites were found in a registry or an index.

Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I): Conceptual Underpinnings and Economic Analysis

Open access
Hail, Luzi, Leuz, Christian, Wysocki, Peter·2010·Accounting Horizons
DOI 10.2308/acch.2010.24.3.355
Open this paper in CoChat — free account

Abstract

SYNOPSIS: This article is Part I of a two-part series analyzing the economic and policy factors related to the potential adoption of IFRS by the United States. In this part, we develop the conceptual framework for our analysis of potential costs and benefits from IFRS adoption in the United States. Drawing on the academic literature in accounting, finance, and economics, we assess the potential impact of IFRS adoption on the quality and comparability of U.S. reporting practices, the ensuing capital market effects, and the potential costs of switching from U.S. GAAP to IFRS. We also discuss the compatibility of IFRS with the current U.S. regulatory and legal environment, as well as the possible macroeconomic effects of IFRS adoption. Our analysis shows that the decision to adopt IFRS mainly involves a cost-benefit trade-off between (1) recurring, albeit modest, comparability benefits for investors; (2) recurring future cost savings that will largely accrue to multinational companies; and (3) one-time transition costs borne by all firms and the U.S. economy as a whole, including those from adjustments to U.S. institutions. In Part II of the series (see Hail et al. 2010), we provide an analysis of the policy factors related to the decision and present several scenarios for the future evolution of U.S. accounting standards in light of the current global movement toward IFRS.

Overview

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Integrity signals

Registry

Crossref · 10.2308/acch.2010.24.3.355

Cites

12 of 12 references verified0 citation errors · 0 not checkable

Statistics

Verification

Claims the paper makes

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Self-check

Percentages, sums and reported differences re-computed from the paper’s own numbers.

The self-check needs the paper’s full text.

Citations

Cites

Show all 12 references

Research works printed but not linked: 122

  1. Admati, 2000, Forcing firms to talk: Financial disclosure regulation and externalities, Review of Financial Studies, 13, 479, 10.1093/rfs/13.3.479 · DOI · Paper page
  2. Aggarwal, 2005, Portfolio preferences of foreign institutional investors, Journal of Banking & Finance, 29, 2919, 10.1016/j.jbankfin.2004.09.008 · DOI · Paper page
  3. Alford, 1993, The relative informativeness of accounting disclosures in different countries, Journal of Accounting Research, 31, 183, 10.2307/2491170 · DOI · Paper page
  4. Ali, 2000, Country-specific factors related to financial reporting and the value relevance of accounting data, Journal of Accounting Research, 38, 1, 10.2307/2672920 · DOI · Paper page
  5. Amihud, 1989, The effects of beta, bid-ask spread, residual risk and size on stock returns, The Journal of Finance, 44, 479
  6. Armstrong, 2010, Market reaction to the adoption of IFRS in Europe, The Accounting Review, 85, 31, 10.2308/accr.2010.85.1.31 · DOI · Paper page
  7. Ashbaugh, 2001, Non-U.S. firms accounting standards choices, Journal of Accounting and Public Policy, 20, 129, 10.1016/S0278-4254(01)00025-4 · DOI · Paper page
  8. Ashbaugh, 2001, Domestic accounting standards, international accounting standards, and the predictability of earnings, Journal of Accounting Research, 39, 417, 10.1111/1475-679X.00020 · DOI · Paper page
  9. Bae, 2008, International GAAP differences: The impact on foreign analysts, The Accounting Review, 83, 593, 10.2308/accr.2008.83.3.593 · DOI · Paper page
  10. Ball R. 2001. Infrastructure requirements of an economically efficient system of public financial reporting and disclosure. In Brookings-Wharton Papers on Financial Services, edited byLitanR., and HerringR., 127–169. Washington, D.C.:Brookings Institution Press. · DOI · Paper page
  11. Ball, 2006, International Financial Reporting Standards (IFRS): Pros and cons for investors, Accounting and Business Research, 36, 5, 10.1080/00014788.2006.9730040 · DOI · Paper page
  12. Ball, 2009, Market and political/regulatory perspectives on the recent accounting scandals, Journal of Accounting Research, 47, 277, 10.1111/j.1475-679X.2009.00325.x · DOI · Paper page
  13. Ball, 2005, Earnings quality in U.K. private firms: Comparative loss recognition timeliness, Journal of Accounting and Economics, 39, 83, 10.1016/j.jacceco.2004.04.001 · DOI · Paper page
  14. Ball, 2000, The effect of international institutional factors of properties of accounting earnings, Journal of Accounting and Economics, 29, 1, 10.1016/S0165-4101(00)00012-4 · DOI · Paper page
  15. Ball, 2003, Incentives versus standards: Properties of accounting income in four East Asian countries, Journal of Accounting and Economics, 36, 235, 10.1016/j.jacceco.2003.10.003 · DOI · Paper page
  16. Barth, 2008, Global financial reporting: Implications for U.S. academics, The Accounting Review, 83, 1159, 10.2308/accr.2008.83.5.1159 · DOI
  17. Barth, 2008, International Accounting Standards and accounting quality, Journal of Accounting Research, 46, 467, 10.1111/j.1475-679X.2008.00287.x · DOI · Paper page
  18. Bartov, 2005, Comparative value relevance among German, U.S. and International Accounting Standards: A German stock market perspective, Journal of Accounting, Auditing & Finance, 20, 95, 10.1177/0148558X0502000201 · DOI · Paper page
  19. Basu, 1997, The conservatism principle and the asymmetric timeliness of earnings, Journal of Accounting and Economics, 24, 3, 10.1016/S0165-4101(97)00014-1 · DOI · Paper page
  20. Beneish, 2008, Information friction and investor home bias: A perspective on the effect of global IFRS adoption on the extent of equity home bias, Journal of Accounting and Public Policy, 27, 433, 10.1016/j.jaccpubpol.2008.09.001 · DOI
  21. Bens, 2004, Disclosure quality and the excess value of diversification, Journal of Accounting Research, 42, 691, 10.1111/j.1475-679X.2004.00154.x · DOI · Paper page
  22. Benston G., Bromwich M., Litan R., and Wagenhofer A. 2006. Worldwide Financial Reporting: The Development and Future of Accounting Standards. Oxford, U.K.:Oxford University Press. · DOI
  23. Biddle, 2006, Accounting quality and firm-level capital investment, The Accounting Review, 81, 963, 10.2308/accr.2006.81.5.963 · DOI · Paper page
  24. Botosan, 1997, Disclosure level and the cost of equity capital, The Accounting Review, 72, 323
  25. Botosan, 2002, A re-examination of disclosure level and the expected cost of equity capital, Journal of Accounting Research, 40, 21, 10.1111/1475-679X.00037 · DOI · Paper page
  26. Bradshaw, 2008, Will harmonizing accounting standards really harmonize accounting? Evidence from non-U.S. firms adopting U.S. GAAP, Journal of Accounting, Auditing & Finance, 23, 233, 10.1177/0148558X0802300206 · DOI · Paper page
  27. Bradshaw, 2004, Accounting choice, home bias, and U.S. investment in non-U.S. firms, Journal of Accounting Research, 42, 795, 10.1111/j.1475-679X.2004.00157.x · DOI · Paper page
  28. Burgstahler, 2006, The importance of reporting incentives: Earnings management in European private and public firms, The Accounting Review, 81, 983, 10.2308/accr.2006.81.5.983 · DOI · Paper page
  29. Bushee, 2005, Economic consequences of SEC disclosure regulation: Evidence from the OTC Bulletin Board, Journal of Accounting and Economics, 39, 233, 10.1016/j.jacceco.2004.04.002 · DOI · Paper page
  30. Bushman, 2001, Financial accounting information and corporate governance, Journal of Accounting and Economics, 32, 237, 10.1016/S0165-4101(01)00027-1 · DOI · Paper page
  31. Bushman, 2004, What determines corporate transparency?, Journal of Accounting Research, 42, 207, 10.1111/j.1475-679X.2004.00136.x · DOI · Paper page
  32. Capkun, 2008, Earnings management and value relevance during the mandatory transition from local GAAPs to IFRS in Europe, 10.2139/ssrn.1125716 · DOI
  33. Chordia, 2000, Co-movements in bid-ask spreads and market depth, Financial Analysts Journal, 56, 23, 10.2469/faj.v56.n5.2386 · DOI
  34. Christensen, 2007, Cross-sectional variation in the economic consequences of international accounting harmonisation: The case of mandatory IFRS adoption in the U.K, The International Journal of Accounting, 42, 341, 10.1016/j.intacc.2007.09.007 · DOI · Paper page
  35. Christensen, 2009, Do IFRS reconciliations convey information? The effect of debt contracting, Journal of Accounting Research, 47, 1167, 10.1111/j.1475-679X.2009.00345.x · DOI
  36. Coffee, 2007, Law and the market: The impact of enforcement, 10.2139/ssrn.967482 · DOI · Paper page
  37. Cooper I., and Kaplanis E. 1986. Costs to crossborder investment and international equity market equilibrium. In Recent Developments in Corporate Finance, edited byEdwardsJ., FranksJ., MayerC., and SchaeferS.. Cambridge, MA:Cambridge University Press. · DOI
  38. Core, 2008, Is accruals quality a priced risk factor?, Journal of Accounting and Economics, 46, 2, 10.1016/j.jacceco.2007.08.001 · DOI · Paper page
  39. Covrig, 2007, Home bias, foreign mutual fund holdings, and the voluntary adoption of International Accounting Standards, Journal of Accounting Research, 45, 41, 10.1111/j.1475-679X.2007.00226.x · DOI · Paper page
  40. Cuijpers, 2005, Voluntary adoption of non-local GAAP in the European Union: A study of determinants and consequences, European Accounting Review, 14, 487, 10.1080/0963818042000337132 · DOI · Paper page
  41. Cumming, 2007, Regulatory harmonization and the development of private equity markets, Journal of Banking & Finance, 31, 3218, 10.1016/j.jbankfin.2007.01.010 · DOI
  42. Daske, 2006, Economic benefits of adopting IFRS or U.S.-GAAP: Have the expected costs of equity capital really decreased?, Journal of Business Finance & Accounting, 33, 329, 10.1111/j.1468-5957.2006.00611.x · DOI · Paper page
  43. Daske, 2006, International Financial Reporting Standards and experts’ perceptions of disclosure quality, Abacus, 42, 461, 10.1111/j.1467-6281.2006.00211.x · DOI
  44. Daske, 2008, Mandatory IFRS reporting around the world: Early evidence on the economic consequences, Journal of Accounting Research, 46, 1085, 10.1111/j.1475-679X.2008.00306.x · DOI · Paper page
  45. Dechow, 2000, Earnings management: Reconciling the views of accounting academics, practitioners, and regulators, Accounting Horizons, 14, 235, 10.2308/acch.2000.14.2.235 · DOI · Paper page
  46. Dechow, 2009, Understanding earnings quality: A review of the proxies, their determinants and their consequences
  47. De Jong, 2006, The economic consequences of IFRS: The impact of IAS 32 on preference shares in the Netherlands, Accounting in Europe, 3, 169, 10.1080/09638180600920350 · DOI
  48. Demirgu¨c¸-Kunt, 1999, Institutions, financial markets, and firm debt maturity, Journal of Financial Economics, 54, 295, 10.1016/S0304-405X(99)00039-2 · DOI · Paper page
  49. Dichev, 2002, Large-sample evidence on the debt covenant hypothesis, Journal of Accounting Research, 40, 1091, 10.1111/1475-679X.00083 · DOI · Paper page
  50. Ding, 2007, Differences between domestic accounting standards and IAS: Measurement, determinants and implications, Journal of Accounting and Public Policy, 26, 1, 10.1016/j.jaccpubpol.2006.11.001 · DOI · Paper page
  51. Doidge, 2004, U.S. cross-listings and the private benefits of control: Evidence from dual-class firms, Journal of Financial Economics, 72, 519, 10.1016/S0304-405X(03)00208-3 · DOI · Paper page
  52. Doidge, 2004, Why are foreign firms listed in the U.S. worth more?, Journal of Financial Economics, 71, 205, 10.1016/S0304-405X(03)00183-1 · DOI · Paper page
  53. Doidge, 2009, Has New York become less competitive than London in global markets? Evaluating foreign listing choices over time, Journal of Financial Economics, 91, 253, 10.1016/j.jfineco.2008.02.010 · DOI · Paper page
  54. Dumontier, 1998, Why firms comply voluntarily with IAS: An empirical analysis with Swiss data, Journal of International Financial Management and Accounting, 9, 216, 10.1111/1467-646X.00038 · DOI · Paper page
  55. Dye, 1990, Mandatory versus voluntary disclosures: The cases of financial and real externalities, The Accounting Review, 65, 1
  56. Easley, 2004, Information and the cost of capital, The Journal of Finance, 59, 1553, 10.1111/j.1540-6261.2004.00672.x · DOI · Paper page
  57. Easley, 2002, Is information risk a determinant of asset returns?, The Journal of Finance, 57, 2185, 10.1111/1540-6261.00493 · DOI · Paper page
  58. Ewert, 2005, Economic effects of tightening accounting standards to restrict earnings management, The Accounting Review, 80, 1101, 10.2308/accr.2005.80.4.1101 · doi:10.2308/accr.2005.80.4.1101
  59. Fan, 2002, Corporate ownership structure and the informativeness of accounting earnings in East Asia, Journal of Accounting and Economics, 33, 401, 10.1016/S0165-4101(02)00047-2 · DOI · Paper page
  60. Feltham, 1992, The effects of line-of-business reporting on competition in oligopoly settings, Contemporary Accounting Research, 9, 1, 10.1111/j.1911-3846.1992.tb00865.x · DOI
  61. Francis, 2004, Cost of capital and earnings attributes, The Accounting Review, 79, 967, 10.2308/accr.2004.79.4.967 · DOI · Paper page
  62. Francis, 2005, The market pricing of accruals quality, Journal of Accounting and Economics, 39, 295, 10.1016/j.jacceco.2004.06.003 · DOI · Paper page
  63. Gallery, 2008, Corporate disclosure quality: Lessons from Australian companies on the impact of adopting International Financial Reporting Standards, Australian Accounting Review, 18, 257, 10.1111/j.1835-2561.2008.0030.x · DOI
  64. Gomes, 2007, SEC Regulation Fair Disclosure, information, and the cost of capital, Journal of Corporate Finance, 13, 300, 10.1016/j.jcorpfin.2006.11.001 · DOI · Paper page
  65. Guenther, 2000, The association between financial accounting measures and real economic activity: A multinational study, Journal of Accounting and Economics, 29, 53, 10.1016/S0165-4101(00)00013-6 · DOI · Paper page
  66. Hail, 2002, The impact of voluntary corporate disclosures on the ex-ante cost of capital for Swiss firms, European Accounting Review, 11, 741, 10.1080/0963818022000001109 · DOI · Paper page
  67. Hail, 2009, Cost of capital effects and changes in growth expectations around U.S. cross-listings, Journal of Financial Economics, 93, 428, 10.1016/j.jfineco.2008.09.006 · DOI · Paper page
  68. Hail, 2010, Global accounting convergence and the potential adoption of IFRS by the U.S. (Part II): Political factors and future scenarios for U.S. accounting standards, Accounting Horizons
  69. Harris, 1999, The market valuation of IAS versus U.S. GAAP accounting measures using Form 20-F reconciliations, Journal of Accounting and Economics, 26, 285, 10.1016/S0165-4101(99)00003-8 · DOI · Paper page
  70. Haw, 2004, Ultimate ownership, income management and legal and extra-legal institutions, Journal of Accounting Research, 42, 423, 10.1111/j.1475-679X.2004.00144.x · DOI · Paper page
  71. Hayes, 1996, Segment reporting to the capital market in the presence of a competitor, Journal of Accounting Research, 34, 261, 10.2307/2491502 · DOI · Paper page
  72. Healy, 1999, A review of the earnings management literature and its implications for standards setting, Accounting Horizons, 13, 365, 10.2308/acch.1999.13.4.365 · DOI · Paper page
  73. Healy, 1999, Stock performance and intermediation changes surrounding sustained increases in disclosure, Contemporary Accounting Research, 16, 485, 10.1111/j.1911-3846.1999.tb00592.x · DOI · Paper page
  74. Horton, 2008, Does mandatory IFRS adoption improve the information environment?, 10.2139/ssrn.1264101 · DOI
  75. Hung, 2001, Accounting standards and value relevance of financial statements: an international analysis, Journal of Accounting and Economics, 30, 401, 10.1016/S0165-4101(01)00011-8 · DOI · Paper page
  76. Hung, 2007, Financial statement effects of adopting International Accounting Standards: The case of Germany, Review of Accounting Studies, 12, 623, 10.1007/s11142-007-9049-9 · DOI · Paper page
  77. Jackson, 2009, Public and private enforcement of securities laws: Resource-based evidence, Journal of Financial Economics, 93, 207, 10.1016/j.jfineco.2008.08.006 · DOI · Paper page
  78. Karamanou, 2009, Disclosure and the cost of capital: Evidence from the market’s reaction to firm voluntary adoption of IAS, Journal of Business Finance & Accounting, 36, 793, 10.1111/j.1468-5957.2009.02154.x · DOI
  79. Karolyi, 2006, The world of cross-listings and cross-listings of the world: Challenging conventional wisdom, Review of Finance, 10, 99, 10.1007/s10679-006-6980-8 · DOI · Paper page
  80. Lambert, 2008, Information asymmetry, information precision and the cost of capital, 10.2139/ssrn.1113649 · DOI · Paper page
  81. Lang, 2003, International accounting in light of Enron: Evidence from empirical research, 10.2139/ssrn.434801 · doi:10.2139/ssrn.434801
  82. Lang, 2003, How representative are firms that are cross-listed in the United States? An analysis of accounting quality, Journal of Accounting Research, 41, 363, 10.1111/1475-679X.00108 · DOI · Paper page
  83. Lang, 2006, Earnings management and cross listing: Are reconciled earnings comparable to U.S. earnings?, Journal of Accounting and Economics, 42, 255, 10.1016/j.jacceco.2006.04.005 · DOI · Paper page
  84. La Porta, 2006, What works in securities laws?, The Journal of Finance, 61, 1, 10.1111/j.1540-6261.2006.00828.x · DOI · Paper page
  85. Leuz, 2003, IAS versus U.S. GAAP: Information asymmetry-based evidence from Germany’s New Market, Journal of Accounting Research, 41, 445, 10.1111/1475-679X.00112 · doi:10.1111/1475-679x.00112 · Paper page
  86. Leuz C. 2004. Proprietary versus non-proprietary disclosures: Evidence from Germany. In The Economics and Politics of Accounting, edited byLeuzC., PfaffD., and HopwoodA., 164–197. Oxford, U.K.:Oxford University Press. · DOI
  87. Leuz, 2006, Cross listing, bonding and firms’ reporting incentives: A discussion of Lang, Raedy and Wilson (2006), Journal of Accounting and Economics, 42, 285, 10.1016/j.jacceco.2006.04.003 · DOI · Paper page
  88. Leuz C., and Wu¨stemann J. 2004. The role of accounting in the German financial system. In The German Financial System, edited byKrahnenJ., and SchmidtR., 450–481. Oxford, U.K.:Oxford University Press. · DOI
  89. Leuz, 2008, Economic consequences of financial reporting and disclosure regulation: A review and suggestions for future research, 10.2139/ssrn.1105398 · DOI · Paper page
  90. Leuz, 2009, Disclosure and the cost of capital: Evidence from firms’ responses to the Enron shock, 10.3386/w14897 · DOI
  91. Leuz, 2003, Earnings management and investor protection: An international comparison, Journal of Financial Economics, 69, 505, 10.1016/S0304-405X(03)00121-1 · DOI · Paper page
  92. Leuz, 2008, Why do firms go dark? Causes and economic consequences of voluntary SEC deregistrations, Journal of Accounting and Economics, 45, 181, 10.1016/j.jacceco.2008.01.001 · DOI · Paper page
  93. Leuz, 2009, Do foreigners invest less in poorly governed firms?, Review of Financial Studies, 22, 3245, 10.1093/rfs/hhn089 · DOI · Paper page
  94. Li, 2010, Does mandatory adoption of International Financial Reporting Standards in the European Union reduce the cost of equity capital?, The Accounting Review, 85, 607, 10.2308/accr.2010.85.2.607 · DOI · Paper page
  95. Liu, 2007, Cross-sectional determinants of information quality proxies and cost of capital, 10.2139/ssrn.1013652 · doi:10.2139/ssrn.1013652
  96. Lombardo D., and Pagano M. 2002. Law and equity markets: A simple model. In Corporate Governance Regimes: Convergence and Diversity, edited byMcCaheryJ., MoerlandP., RaaijmakersT., and RenneboogL., 343–362. Oxford, U.K.:Oxford University Press. · DOI
  97. McAnally, 2010, Assessing the financial reporting consequences of conversion to IFRS: The case of equity-based compensation, Accounting Horizons, 10.2308/acch.2010.24.4.589 · DOI
  98. Meeks, 2009, Accounting standards and the economics of standards, Accounting and Business Research, 39, 191, 10.1080/00014788.2009.9663360 · DOI
  99. Merton, 1987, A simple model of capital market equilibrium with incomplete information, The Journal of Finance, 42, 483, 10.1111/j.1540-6261.1987.tb04565.x · DOI · Paper page
  100. Nobes, 2006, The survival of international differences under IFRS: Towards a research agenda, Accounting and Business Research, 36, 233, 10.1080/00014788.2006.9730023 · DOI · Paper page
  101. Nobes, 2008, Accounting classification in the IFRS era, Australian Accounting Review, 18, 191, 10.1111/j.1835-2561.2008.0024.x · DOI
  102. Pincus, 1989, Legislative history of the allowance of LIFO for tax purposes, Accounting Historians Journal, 16, 23, 10.2308/0148-4184.16.1.23 · doi:10.2308/0148-4184.16.1.23
  103. Piotroski, 2008, Regulation and bonding: The Sarbanes-Oxley Act and the flow of international listings, Journal of Accounting Research, 46, 383, 10.1111/j.1475-679X.2008.00279.x · DOI
  104. Plumlee, 2008, Information lost: A descriptive analysis of IFRS firms’ 20-F reconciliations, Journal of Applied Research in Accounting and Finance, 3, 15
  105. Pownall, 1999, Implications of accounting research for the SEC’s consideration of International Accounting Standards or U.S. securities offerings, Accounting Horizons, 13, 259, 10.2308/acch.1999.13.3.259 · DOI · Paper page
  106. Reese, 2002, Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings, Journal of Financial Economics, 66, 65, 10.1016/S0304-405X(02)00151-4 · DOI · Paper page
  107. Ross S. 1979. Disclosure regulation in financial markets: Implications of modern finance theory and signaling theory. In Issues in Financial Regulation, edited byEdwardsF.New York, NY:McGraw-Hill.
  108. Soderstrom, 2007, IFRS adoption and accounting quality: A review, European Accounting Review, 16, 675, 10.1080/09638180701706732 · DOI · Paper page
  109. Stulz, 1981, On the effects of barriers to international investment, The Journal of Finance, 36, 923, 10.1111/j.1540-6261.1981.tb04893.x · DOI
  110. Subramanyam, 1996, Uncertain precision and price reactions to information, The Accounting Review, 71, 207
  111. Sunder, 2010, Adverse effects of uniform written reporting standards on accounting practice, education, and research, Journal of Accounting and Public Policy, 29, 99, 10.1016/j.jaccpubpol.2009.10.011 · DOI
  112. Van der Meulen, 2007, Attribute differences between U.S. GAAP and IFRS earnings: An exploratory study, The International Journal of Accounting, 42, 148, 10.1016/j.intacc.2007.04.003 · doi:10.1016/j.intacc.2007.04.003
  113. Verrecchia, 2001, Essays on disclosure, Journal of Accounting and Economics, 32, 91, 10.1016/S0165-4101(01)00025-8 · DOI · Paper page
  114. Watts, 2003, Conservatism in accounting, Part I: Explanations and implications, Accounting Horizons, 17, 207, 10.2308/acch.2003.17.3.207 · DOI · Paper page
  115. Watts, 2003, Conservatism in accounting, Part II: Evidence and research opportunities, Accounting Horizons, 17, 287, 10.2308/acch.2003.17.4.287 · DOI · Paper page
  116. Watts, 2006, What has the invisible hand achieved?, Accounting and Business Research, 51, 10.1080/00014788.2006.9730046 · DOI · Paper page
  117. Watts R., and Zimmermann J. 1986. Positive Accounting Theory. London, U.K.:Prentice Hall.
  118. Welker, 1995, Disclosure policy, information asymmetry, and liquidity in equity markets, Contemporary Accounting Research, 11, 801, 10.1111/j.1911-3846.1995.tb00467.x · DOI · Paper page
  119. Wu, 2009, The voluntary adoption of internationally recognized accounting standards and firm internal performance evaluation, The Accounting Review, 84, 1281, 10.2308/accr.2009.84.4.1281 · DOI
  120. Wysocki, 2004, Discussion of ultimate ownership, income management, and legal and extra-legal institutions, Journal of Accounting Research, 42, 463, 10.1111/j.1475-679X.2004.00145.x · DOI
  121. Zeff, 2003, How the U.S. accounting profession got where it is today: Part I, Accounting Horizons, 17, 189, 10.2308/acch.2003.17.3.189 · doi:10.2308/acch.2003.17.3.189
  122. Zeff, 2003, How the U.S. accounting profession got where it is today: Part II, Accounting Horizons, 17, 267, 10.2308/acch.2003.17.4.267 · doi:10.2308/acch.2003.17.4.267

Cited by

See all 452

Metadata

Authors
Hail, L., Leuz, C., & Wysocki, P.
Venue
Accounting Horizons
Publisher
American Accounting Association
Published
2010-09-01
Volume
24
Issue
3
Pages
355-394
ISSN
  • 0888-7993 (ISSN-L)
  • 1558-7975
DOI
10.2308/acch.2010.24.3.355
OpenAlex
W2140096960
Cited by
452
References
12
FWCI
110.30
Type
journal article
Language
en
Open access
green

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review

How to cite

Cite CoChat for the checks on this page, and the paper for its own findings.

This page
CoChat. (2026). Citation check: Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I): Conceptual Underpinnings and Economic Analysis. https://app.cochat.ai/papers/10.2308/acch.2010.24.3.355
The paper
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. https://doi.org/10.2308/acch.2010.24.3.355

Data sources

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.