This study investigates how the gap in goodwill accounting between the Japanese local accounting standards (Japanese Generally Accepted Accounting Principles) and international accounting standards (International Financial Reporting Standards) is related to the likelihood of firms adopting...

This study examines firms' decision to voluntarily adopt IFRS in a setting where there are changes to the governance system in a traditionally code law country and how market responses to such decisions. We find the probability of voluntary IFRS adoption to be higher among firms that have a high...