Accounting Standards Harmonization and Financial Integration

被引：13

作者：

Dhaliwal, Dan ^{[1
]}

He, Wen ^{[2
]}

Li, Yan ^{[3
]}

Pereira, Raynolde ^{[4
]}

机构：

[1] Univ Arizona, Tucson, AZ USA

[2] Univ Queensland, Brisbane, Qld, Australia

[3] Univ Melbourne, Melbourne, Vic, Australia

[4] Univ Missouri, Columbia, MO USA

来源：

CONTEMPORARY ACCOUNTING RESEARCH | 2019年 / 36卷 / 04期

关键词：

MANDATORY IFRS ADOPTION; REPORTING STANDARDS; MILD SEGMENTATION; EUROPEAN-UNION; PRICE DELAY; HOME BIAS; IMPROVE; IMPACT; COST; LIBERALIZATION;

D O I：

10.1111/1911-3846.12495

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We empirically examine whether adopting a uniform set of accounting standards mitigates information frictions in financial markets and facilitates market integration. Using a difference-in-difference design, we find that after the mandatory adoption of IFRS local stock returns incorporate more global information and at a faster speed. The effect of IFRS adoption is stronger in countries where there are larger improvements in accounting comparability and for firms with a larger increase in foreign ownership. Overall, our results suggest that accounting standards harmonization facilitates financial market integration.

引用

页码：2437 / 2466

页数：30

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