We examine and compare the valuation properties of earnings and book value of equity under international accounting standards (IAS) during 2000-2002 with those under international financial reporting standards (IFRS) during 2003-2004 (the voluntary period) and 2005-2006 (the mandatory period)....

We investigate factors determining firm's governance models to assess how methods of resolving information asymmetry affect accounting policy choices. Companies with stakeholder governance models tend to use private communication to resolve information asymmetry. Our results suggest that firms...

type="main" <p>We study the market reaction to the mandatory adoption of International Financial Reporting Standards (IFRS) in Spain by examining the value relevance of the information contained in the IFRS reconciliation adjustments in relation to the local generally accepted accounting principles...</p>

We examine the characteristics of accounting numbers using a sample of German companies reporting under IAS (2000-2002), and IFRS (2003-2004) and (2005-2006). We investigate the change in accounting quality during these time periods as IASB revises and issues new standards. Contrary to...

Using a random sample of companies from France, Germany, and the UK (100 from each country) I examine the comparability/diversity of fair value accounting of goodwill under International Financial Reporting Standards (IFRS). I predict and find that large companies operating in an environment...

In recent years, several accounting standards, including IFRS 3, issued by the IASB, substitute historical cost with fair value measures and so provide managers with increased discretion to determine fair value without an actual market for the asset. Using Swedish data, we document the...