By Ulf Brüggemann
Many indexed businesses all over the world are required to organize their consolidated money owed based on overseas monetary Reporting criteria (IFRS) in view that economic 12 months 2005. Ulf Br??ggemann discusses and empirically investigates the commercial effects of this essential change to IFRS. He presents facts that cross-border investments by means of person traders elevated following the creation of IFRS. despite the fact that, he additionally reveals that asymmetric implementation of IFRS and its influence on contractual results whose beneficial properties range considerably throughout international locations are inclined to hose down some great benefits of uniform accounting criteria. Taken jointly, his research indicates that essential IFRS reporting has the capability to provide either meant and accidental results.
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Some firms, while adopting IFRS overall, may attempt to avoid certain individual IFRS rules that are anticipated to be particularly costly. 2. 3). 4). 1 Ex-ante stock market reactions Armstrong, Barth, Jagolinzer, and Riedl (2010) use event study methodology to assess stock market reactions to 16 events during the period 2002 through 2005 that are hypothesized to change the likelihood and scope of mandatory IFRS introduction in Europe. The results are consistent with investors expecting net information quality benefits as well as convergence benefits from mandatory IFRS adoption.
Wang, Young, and Zhuang (2008) as well as Landsman, Maydew, and Thornock (2010) investigate the information content of earnings announcements, as measured by abnormal return volatility, around the mandatory introduction of IFRS. Both studies find mild evidence of an increase in the information content of earnings announcements postIFRS with firms from code-law countries experiencing the largest effects. Kim and Li (2010) focus on financial reporting externalities by analyzing how investors react to earnings announcements of other firms in the same industry.
They argue that the move towards fair value accounting for pension plans, in particular its volatility effects on earnings and equity numbers, has worked in conjunction with other, non-accounting factors21 to provide firms with incentives to move away from defined benefit pension plans towards arrangements that transfer the retirement-income risk to the individual. For the Netherlands, this finding is empirically corroborated by Swinkels (2006). , greater longevity), regulatory changes intended to mitigate employee risk, as well as increasing and volatile demand for cash contributions into defined benefit plans.