In this study, we investigate the impact of IFRS adoption in Europe and Australia on the relevance of book value and earnings for equity valuation. Using a sample of 3,488 firms that initially adopted International Financial Reporting Standards (IFRS) in 2005, we are able to compare the figures...

The Securities and Exchange Commission (SEC) of the USA requires that Canadian firms cross-listed in stock exchanges reconcile their earnings using Canadian GAAP to what earnings would have been had US GAAP been used. Prior literature has examined the capital market implications of such...

The adoption of IFRS was intended to improve accounting information quality and ensure greater comparability and transparency of financial reporting around the world. This review has sought to recognize and understand the impacts of IFRS adoption on numerous areas of capitalism. Overall, the...