Financial Reporting Standards (IFRS) in Europe. European IFRS adoption represented a major milestone towards financial reporting … asymmetry, consistent with investors expecting net information quality benefits from IFRS adoption. We also find that the … IFRS in those countries. Finally, we find a positive reaction to IFRS adoption events for firms with high quality pre …

We discuss “Mandatory IFRS Reporting and Changes in Enforcement” by Christensen, Hail, and Leuz (CHL, 2013). We begin … enforcement and adoption of International Financial Reporting Standards (IFRS) confer liquidity benefits. The largest benefits … obtain when the change to IFRS reporting is combined with change in enforcement. This is not to say that enforcement conveys …

We find that the adjustments to net income resulting from mandatory 2005 adoption of IFRS in Europe are relevant to … income adjustment and adjustments relating to several individual IFRS standards for these two types of firms and across major …' assessment of the relevance of IFRS accounting amounts. Despite these differences, we find that investors in all firms, except …