Two Essays On International Financial Reporting Standards
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Two Essays On International Financial Reporting Standards
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Author : Kim M. Shima
language : en
Publisher:
Release Date : 2007
Two Essays On International Financial Reporting Standards written by Kim M. Shima and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Financial statements categories.
Essays On The Economic Consequences Of Mandatory Ifrs Reporting Around The World
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Author : Ulf Brüggemann
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-08-31
Essays On The Economic Consequences Of Mandatory Ifrs Reporting Around The World written by Ulf Brüggemann and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-31 with Business & Economics categories.
Ulf Brüggemann discusses and empirically investigates the economic consequences of mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS.
Three Essays On The Effects Of The Simultaneous Adoption Of Ifrs International Financial Reporting Standards And Mad Market Abuse Directive In Europe
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Author : Fatima Baalbaki Shibly
language : en
Publisher:
Release Date : 2014
Three Essays On The Effects Of The Simultaneous Adoption Of Ifrs International Financial Reporting Standards And Mad Market Abuse Directive In Europe written by Fatima Baalbaki Shibly and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
While prior research on mandatory IFRS adoption fails to provide evidence of improvement in the quality of financial reporting (increased transparency and/or comparability), it provides almost unanimous evidence of beneficial capital-market impacts. Within the European Union (EU), mandatory IFRS adoption coincides with the adoption of the Market Abuse Directive (MAD). While the mandatory adoption of IFRS took place in 2005, MAD was passed between 2004 and 2007 depending on the EU country under consideration. Furthermore, both IFRS and MAD aim towards increased transparency, either by improving the quality of financial reporting (IFRS) or by prohibiting selective disclosures to enhance common information available to all market participants (MAD). Our first essay aims to disentangle the respective market impacts of MAD adoption and IFRS adoption in order to determine the specific effect of each regulation. Our evidence suggests that a significant part of the capital market effects usually attributed to IFRS comes, at least to some extent, from the contemporaneous adoption of the Market Abuse Directive. Our second essay focuses on the role of information environment. Investigating how information environment affects the market impacts of both MAD adoption and IFRS adoption is crucial to determine whether all firms benefit identically from these regulations. Using firm size and analyst following as proxies capturing firms' information environment, we provide evidence showing that small firms and firms with weak analyst following are those that benefit the most from the introduction of the IFRS mandate. In contrast, large firms and firms with high analyst coverage benefit the most from MAD adoption. Our third essay analyzes the role of enforcement. We find that the effectiveness of both IFRS and MAD is hampered by different enforcement levels across firms and countries. Moreover, the observed capital-market outcomes on one regulation differ if the effects of both regulations are not clearly dissociated. Thus, we caution researchers not to attribute capital-market outcomes primarily or solely to one regulation without taking into account the concomitant adoption of the other one.
International Financial Reporting Standards
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Author : Hennie van Greuning
language : en
Publisher: World Bank Publications
Release Date : 2011
International Financial Reporting Standards written by Hennie van Greuning and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
This title gives private or public sector executives, managers, and financial analysts without a strong background in accounting the tools they need to participate in discussions and decisions on the appropriateness or application of International Financial Reporting Standards.
International Financial Reporting Standards
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Author : Hennie van Greuning
language : en
Publisher: World Bank Publications
Release Date : 2006
International Financial Reporting Standards written by Hennie van Greuning and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Annotation. International Financial Reporting Standards (IFRS) in a business situation can have a significant effect on the financial results and position of a division or an entire business enterprise. 'International Financial Reporting Standards: A Practical Guide' gives private or public sector executives, managers, and financial analysts without a strong background in accounting the tools they need to participate in discussions and decisions on the appropriateness or application of IFRS.Each chapter summarizes an International Financial Reporting Standard, following a consistent structure: â&€¢ Problems addressed by the IFRS â&€¢ Scope of the Standard â&€¢ Key concepts and definitions â&€¢ Accounting treatment â&€¢ Presentation and disclosure â&€¢ Financial analysis and interpretation.
Three Essays On Financial Information Disclosure
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Author : Bo Zhang
language : en
Publisher:
Release Date : 2018
Three Essays On Financial Information Disclosure written by Bo Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This thesis is comprised of three essays on informational issues that revolve around financial reporting, governance, and disclosure. The first essay focuses on how International Financial Reporting Standards (IFRS) adoption by the Canadian fund industry impacts the funds' reported performance and managers' behavior. When Canada implemented IFRS for publicly accountable enterprises (PAEs) in 2011, it received much attention from international researchers, professionals, and regulators mainly for three reasons: (1) IFRS were more mature when adopted in Canada as nine amendments had been made from 2005 through 2010, and issues and uncertainties faced by earlier adopters such as firms from EU members may or may not exist in Canada; (2) pre-IFRS Canadian accounting standards were very close to that of the US, and thus, the Canadian experience has strong implication to the largest capital market which has not accepted IFRS as primary standards yet; (3) Canadian accounting and financial regulations have been shown to be more effective in controlling risks during the 2008 financial crisis compared to those of other major economies; how IFRS can strengthen such a tight system is to be examined and is important to IFRS proponents and standard setters. In 2014, Canada took the lead by being the first common law jurisdiction mandating IFRS for investment funds while most other countries hold up IFRS adoption in this particular industry due to various complications. This paper shows that IFRS adoption does affect the funds' outcomes and managers' behavior in Canadian closed-end investment funds, and voluntary disclosure of cash flows also strongly affects fund managers' return and valuation discretion. The implication is that if a country is not ready to fully implement IFRS in the fund industry because of complications at the accounting and financial levels, mandatory disclosure of cash flows could lead to better accounting quality as well, since one major difference between IFRS and GAAP is the disclosure of cash flows which constrains manager's discretion on asset appraisals. The second essay studies the implications from outside directors' turnover. Outside directors have been extensively studied as a governance factor, but their behaviors are not well documented in the literature, partly because most agency theory-based research concentrates on the behavior of managers, not that of directors. While the majority of studies in the governance literature analyze characteristics of directors in a static way, I look at this question in a dynamic way which considers directors' behaviors. This paper studies S&P 500 companies that have boardroom turnovers due to outside directors' unexpected departures. The departures of these non-executive directors usually do not trigger investors' concerns. However, our results show that when they do not provide concrete reasons, the firms from which they resigned experience underperformance afterward. This result suggests that directors may have resigned ahead of sub performance because of information they became privy to. The implication is strong to both regulators and investors. While governance regulations require a certain proportion of outside directors on compensation and audit committees with the intention of achieving efficient governance and releasing timely and reliable information, such mechanisms are substantially affected if outside directors do not fulfill their responsibilities when firms face challenges. Investors who take long positions should be alerted about outside directors' unexplained departure, and investors who take short positions may find opportunities when a company has boardroom turnover. The third essay examines a financial question around mergers and acquisitions announcements. In a tender offer, the bidder contacts shareholders of a target firm directly by announcing a public offer to tender their shares. The risk arises because the acquisition may or may not go through. Insiders typically have a better appreciation of the likelihood of a successful acquisition than outsiders, who have very limited access to strategic and private information. As a result, outsiders are at the disadvantageous position during mergers and acquisitions. This paper documents that besides official and public releases, outsiders can also rely on stock returns around announcements to infer private information to reduce information asymmetry. While current regulations and reporting standards do not have effective ways to minimize information asymmetry during mergers and acquisitions, this study highlights an avenue that indirectly mitigates outsiders' information disadvantage.
Achieving Global Convergence Of Financial Reporting Standards
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Author : Christopher Patel
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-12-15
Achieving Global Convergence Of Financial Reporting Standards written by Christopher Patel and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-15 with Business & Economics categories.
This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.
A Central Bank S Guide To International Financial Reporting Standards
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Author : Mr. Rudy Wytenburg
language : en
Publisher: International Monetary Fund
Release Date : 2021-04-05
A Central Bank S Guide To International Financial Reporting Standards written by Mr. Rudy Wytenburg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-05 with Business & Economics categories.
About one-quarter of the world’s central banks apply IFRS with approximately a quarter more looking to IFRS for further guidance where their local standards do not provide enough guidance. Given the varied mandates and types of policy operations undertaken by central banks, there also exists significant variation in practice, style, and the extent of the financial disclosures in both the primary statements and in the note disclosures. By their nature, central banks are unique in their jurisdiction and so do not always have local practices and examples they can follow. Although the major accounting firms have created model disclosures intended for commercial banks, these are often not totally appropriate for a central bank. The application of IFRS across central banks differs based on the mandate of the central bank and the capacity of the accounting profession in the specific jurisdiction. An analysis of international practices, such as those undertaken in preparing these model statements, may help address questions about the structure of the statements themselves as well as the organization of the note disclosures. As a consequence, each central bank following IFRS has largely developed its own disclosures with only limited reference to others. Input from the external auditors has been significant, but some of this has been determined by the approach used by the specific auditor’s style for commercial banks rather than central banks. Auditors do not always fully appreciate the differences between a commercial bank and a central bank, which has a different role and undertakes transactions to meet its policy objectives. This has often led to an over emphasis of items not material in the context of a central bank and insufficient disclosures on operations or accountabilities specific to the functions of the central bank.
Financial Accounting And Equity Markets
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Author : Philip Brown
language : en
Publisher: Routledge
Release Date : 2013-06-19
Financial Accounting And Equity Markets written by Philip Brown and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-19 with Business & Economics categories.
Philip Brown is one of the most admired and respected accounting academics alive today. He was a pioneer in capital markets research in accounting, and his 1968 article, co-authored with Ray Ball, "An Empirical Evaluation of Accounting Income Numbers," arguably had a greater impact on the course of accounting research, directly and indirectly, than any other article during the second half of the twentieth century. Since that time, his innovative research has focused on issues that bridge accounting and finance, including the relationships between net profit reports and the stock market, the long-run performance of acquiring firms, statutory sanctions and voluntary corporate disclosure, and the politics and future of national accounting standards to name a few. This volume brings together the greatest hits of Brown’s career, including several articles that were published in out-of-the-way places, for easier use by students and researchers in the field. With a foreword written by Stephen A. Zeff, and an introduction that discusses the evolution of Brown’s research interests and explains the context for each of the essays included in the volume, this book offers the reader a unique look inside this remarkable 50-year career.
International Financial Reporting Standards Ifrss
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2004
International Financial Reporting Standards Ifrss written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Accounting categories.
Contains the full text of all International Financial Reporting Standards extant at 31 March 2004.