Is the Convergence of Accounting Standards Good for Stock Markets?

This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms.

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Year of publication:	2009
Authors:	Chong, Terence Tai-Leung ; Leung, Winnie S. C. ; Yip, Rita W. Y. ; Huang, Howard Z.
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 29.2009, 3, p. 2079-2085
Publisher:	AccessEcon
Subject:	Hong Kong Accounting Standard 40 \| Event Window \| Stock Return

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	M4 - Accounting and Auditing ; N2 - Financial Markets and Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008562828