The DOI matches its Crossref record; 35 of the 35 references it cites were found in a registry or an index.
Market Reaction to the Adoption of IFRS in Europe
Open accessAbstract
ABSTRACT: This study examines European stock market reactions to 16 events associated with the adoption of International Financial Reporting Standards (IFRS) in Europe. European IFRS adoption represented a major milestone toward financial reporting convergence yet spurred controversy reaching the highest levels of government. We find an incrementally positive reaction for firms with lower quality pre-adoption information, which is more pronounced for banks, and with higher pre-adoption information asymmetry, consistent with investors expecting net information quality benefits from IFRS adoption. We find an incrementally negative reaction for firms domiciled in code law countries, consistent with investors' concerns over enforcement of IFRS in those countries. Finally, we find a positive reaction to IFRS adoption events for firms with high-quality pre-adoption information, consistent with investors expecting net convergence benefits from IFRS adoption.
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Cited by
Mandatory IFRS reporting and changes in enforcement
Christensen, H. B., Hail, L., & Leuz, C. (2013) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2013.10.007 · Cited by 816
Li, S. (2010) · The Accounting Review · doi:10.2308/accr.2010.85.2.607 · Cited by 786
The impact of mandatory IFRS adoption on foreign mutual fund ownership: The role of comparability
DeFond, M., Hu, X., Hung, M., & Li, S. (2011) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2011.02.001 · Cited by 719
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
Market Reaction to Mandatory Nonfinancial Disclosure
Grewal, J., Riedl, E. J., & Serafeim, G. (2019) · Management Science · doi:10.1287/mnsc.2018.3099 · Cited by 635
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Metadata
- Authors
- Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., & Riedl, E. J.
- Venue
- The Accounting Review
- Publisher
- American Accounting Association
- Published
- 2010-01-01
- Volume
- 85
- Issue
- 1
- Pages
- 31-61
- ISSN
- 0001-4826 (ISSN-L)
- 1558-7967
- OpenAlex
- W4247695167
- Cited by
- 849
- References
- 35
- FWCI
- 136.40
- Type
- journal article
- Language
- en
- Open access
- green
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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.
