Regulators such as the SEC and standard setting bodies such as the FASB and the IASB argue the case for the conceptual desirability of fair value measurement, notably on the relevance dimension. Recent standards on financial instruments and certain non-financial items adopt the new measurement...

This paper discusses empirical evidence on the economic consequences of mandatory IFRS adoption in the European Union and provides suggestions on how future research can add to our understanding of these effects. Based on the stated objectives of the EU's so-called ‘IAS Regulation,' we...

We examine how accounting information influences corporate risk-taking. We predict that transparent accounting disclosure can influence corporate risk-taking by enabling managers to better evaluate risks and by enabling investors to better monitor managers' risk appetite. We test this prediction...