Debt Financing and Voluntary Adoption of the International Financial Reporting Standards: Evidence from Korean Unlisted Firms

被引：4

作者：

Jung, Woon-Oh ^{[1
]}

Park, Sung Ook ^{[2
]}

Chung, Heesun ^{[1
]}

机构：

[1] Seoul Natl Univ, Sch Business, Seoul, South Korea

[2] Kyung Hee Univ, Dept Accounting & Taxat, Seoul 130701, South Korea

来源：

EMERGING MARKETS FINANCE AND TRADE | 2016年 / 52卷 / 01期

关键词：

bond credit ratings; debt financing; IFRS; public debt; unlisted firms; IMPROVE EARNINGS QUALITY; ACCOUNTING QUALITY; PRIVATE FIRMS; CREDIT RATINGS; IFRS ADOPTION; DISCLOSURE; COST; CONSEQUENCES; INFORMATION; GOVERNANCE;

D O I：

10.1080/1540496X.2015.1062301

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate the effect of debt financing on the voluntary adoption of the International Financial Reporting Standards (IFRS) by unlisted firms and such adoption's effect on bond credit rating. We find that unlisted firms with public debts are more likely to voluntarily adopt IFRS. Subsequent to the voluntary application of IFRS, the unlisted firms exhibit, on average, enhanced credit ratings. These findings suggest that the public debt market's demand for high-quality financial reporting may drive those unlisted firms to voluntarily adopt IFRS. Furthermore, rating agencies seem to reward such firms by elevating their bond credit ratings.

引用

页码：39 / 51

页数：13

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