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| Author: | Hamberg, M. Paananen, M. Novak, J. |
| Title: | The adoption of IFRS 3: The Effects of managerial discretion and stock market reactions |
| Journal: | European Accounting Review
2011 : VOL. 20:2 p. 263-288 |
| Index terms: | accounting standards regulations Sweden Nordic countries earnings |
| Language: | eng |
| Abstract: | This paper documents the accounting consequences of the adoption of IFRS 3 and the stock market's reaction, using Swedish data. After the adaption of this standard in 2005 the amount of capitalized goodwill increased substantially. Goodwill impairments under IFRS are remarkably lower than goodwill amortizations and impairments made under Swedish GAAP. As a result, reported earnings rose. An analysis of economic incentives influencing the impairment decision at the initial adoption of IFRS 3 shows that tenured management is negatively related to the impairment decision. |
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