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| Tekijä: | Aharony, J. Barniv, R. Falk, H. |
| Otsikko: | The impact of mandatory IFRS adoption on equity valuation of accounting numbers for security investors in the EU |
| Lehti: | European Accounting Review
2010 : VOL.19:3, p. 535-578 |
| Asiasana: | accounting standards security investors stock markets valuation models European Union |
| Vapaa asiasana: | goodwill research and development expenses(RD) asset revaluation |
| Kieli: | eng |
| Tiivistelmä: | Based on the 14 European countries, focusing on three accounting information items (goodwill, research and development (R&D) expenses, asset revaluation) for which measurements under International Financial Reporting Standards (IFRS). The author uses valuation models that include these three variables and in addition the book value of equity and earnings. The results indicates the adoption of the IFRS has increased the value relevance of the three accounting numbers for investors in equity securities in the EU. The paper tests and suggests their two hypotheses: (1) in the year prior to the mandatory adoption of the IFRS, the incremental value relevance to investors of the three domestic GAAP-based accounting items was greater in countries where the respective domestic standards were more compatible with the IFRS. (2) the higher the deviation of the three domestic GAAP-based accounting items from their corresponding IFRS values, the greater the incremental value relevance to investors from the switch to IFRS. These associations prevail when considering cross-country differences in the institutional environments, which tend to provide complementary effects. |
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