This paper investigates whether there is market reaction to and value-relevance of information contained in the mandatory transitional documents required by IFRS 1 (2005). These documents detail the reconciliation adjustments necessary to a firm's previously reported UK GAAP accounts to achieve...

This study examines whether application of IFRS by non-US firms results in accounting amounts comparable to those resulting from application of US GAAP by US firms. IFRS firms have greater accounting system and value relevance comparability with US firms when IFRS firms apply IFRS than when they...

The adoption of international accounting standards, namely the IFRS, at the country level has sparked two contrasting, but not mutually exclusive, viewpoints. One view is that IFRS engenders better reporting standards and uniform adoption allows for greater comparability. The upshot is that IFRS...

This study hypothesizes and tests whether the degrees to which managers exercise earnings discretion relates to their value system (i.e., culture) as well as the institutional features (i.e., legal environment) of their country. We find that uncertainty avoidance and individualism dimensions of...

The purpose of this study is to investigate whether firms' auditor choice relates to national culture. We construct a novel measure of secretiveness based on Hofstede's (1980) cultural factors. Using a very large sample of firms from 37 countries and controlling for a number of firm- and...

This study examines how five financial reporting and disclosure quality proxies are related to emerging markets (EM) firms' cross-listing choices and their access to the global capital market. Our five financial reporting and disclosure quality proxies are transparency of the annual report,...

Ball Robin and Wu (2003) investigate the relationship between accounting standards and the structure of other institutions on the attributes of the financial reporting system. They find evidence consistent with the hypothesis that beyond accounting standards, the structure of other institutions,...

I discuss the analysis in Piotroski and Srinivasan (2008) and how it helps to disentangle the effects of Sarbanes Oxley on observed listing patterns. Since the paper is quite thorough and reflects the comments from many workshop participants, I focus on broader issues. Further, I attempt to...

Kim and Shi (this issue) document that voluntary IFRS adoption is associated with significant benefits and argue that the effect is causal – a conclusion that is similar to many published papers on IFRS adoption. Yet voluntary IFRS adopters constitute only a small percentage of the global...

This study examines the predictive power of comprehensive income and its individual components within the homogenous institutional setting of German IFRS firms. The results could be relevant for the standard setters IASB and FASB and their joint project “Financial Statement Presentation”. We...