One Size Fits All? Stakeholders' Perceptions of IFRS Adoption Across Europe and Brazil PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download One Size Fits All? Stakeholders' Perceptions of IFRS Adoption Across Europe and Brazil PDF full book. Access full book title One Size Fits All? Stakeholders' Perceptions of IFRS Adoption Across Europe and Brazil by Cristiane Benetti. Download full books in PDF and EPUB format.
Author: Cristiane Benetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
Get Book Here
Book Description
The main objective of this study is to put in evidence the perceptions of stakeholders about IFRS adoption across Europe and Brazil. By means of a survey, (816 completed questionnaires, 10% of population), we investigate whether producers (chief financial officers), users (financial analysts), and controllers (auditors) of accounting data share the same views on the usefulness and goals of the international financial reporting process. We use descriptive statistics and univariate tests to analyze the responses to our multiple-choice questions. Results suggest that respondents' activity has less influence on their answers than the country where they are located.
Author: Cristiane Benetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
Get Book Here
Book Description
The main objective of this study is to put in evidence the perceptions of stakeholders about IFRS adoption across Europe and Brazil. By means of a survey, (816 completed questionnaires, 10% of population), we investigate whether producers (chief financial officers), users (financial analysts), and controllers (auditors) of accounting data share the same views on the usefulness and goals of the international financial reporting process. We use descriptive statistics and univariate tests to analyze the responses to our multiple-choice questions. Results suggest that respondents' activity has less influence on their answers than the country where they are located.
Author: Karthik Ramanna
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
If the differences in accounting standards across countries reflect relatively stable institutional differences (e.g., auditing technology, the rule of law, etc.), why did several countries rapidly, albeit in a staggered manner, adopt IFRS over local standards in the 2003-2008 period? We test the hypothesis that perceived network benefits from the extant worldwide adoption of IFRS can explain part of countries' shift away from local accounting standards. That is, as more jurisdictions with economic ties to a given country adopt IFRS, perceived benefits from lowering transactions costs to foreign financial-statement users increase and contribute significantly towards the country's decision to adopt IFRS. We find that perceived network benefits increase the degree of IFRS harmonization among countries, and that smaller countries have a differentially higher response to these benefits. Further, economic ties with the European Union are a particularly important source of network effects. The results, robust to numerous alternative hypotheses and specifications, suggest IFRS adoption was self-reinforcing during the sample period, which, in turn, has implications for the consequences of IFRS adoption.
Author: Christopher S. Armstrong
Publisher:
ISBN:
Category :
Languages : en
Pages : 51
Get Book Here
Book Description
This study examines the European stock market reaction to sixteen events associated with the adoption of International Financial Reporting Standards (IFRS) in Europe. European IFRS adoption represented a major milestone towards financial reporting convergence yet spurred controversy reaching the highest levels of government. We find a more positive reaction for firms with lower quality pre-adoption information, which is more pronounced in banks, and with higher pre-adoption information asymmetry, consistent with investors expecting net information quality benefits from IFRS adoption. We also find that the reaction is less positive for firms domiciled in code law countries, consistent with investors' concerns over enforcement of IFRS in those countries. Finally, we find a positive reaction to IFRS adoption events for firms with high quality pre-adoption information, consistent with investors expecting net convergence benefits from IFRS adoption. Overall, the findings suggest that investors in European firms perceived net benefits associated with IFRS adoption.
Author: Edith Leung
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
This paper examines the stock market reaction to 15 events relating to IFRS adoption in the United States. The goal is to assess whether investors perceive the switch to IFRS as beneficial or costly. Our findings suggest that investors' reaction to IFRS adoption is more positive in cases where IFRS is expected to lead to convergence benefits. Our results also indicate a less positive market reaction for firms with higher litigation risk, which is consistent with investors' concerns about greater discretion and less implementation guidance under IFRS for these firms. Overall, the findings are relevant to the current debate on IFRS adoption in the U.S. and highlight the importance of convergence to investors.
Author: Dr. Vani Ramesh
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Get Book Here
Book Description
This study aims at understanding the perception towards adoption of International, Financial Reporting Standards (IFRS) in India. For the purpose, the Hofstede dimensions on perception is reviewed. The globalization creates an increased need for communication in the terms of language, awareness of culture differences and domestic customs. Moreover, the financial communication such as accounting and financial results is just as important for business leaders and employees to master. Hence Proponents of International Financial Reporting Standards (IFRS) claim that mandating a uniform set of accounting standards improves financial statement comparability that in turn attracts greater cross-border investment. Ministry of Corporate Affairs (MCA) has decided to go for full convergence of IFRS by 2018 through IND AS. Using Hofstede dimensions along with economic growth, demographic profile of respondents, economic openness and relative capital market size the logit regressions are analyzed. Structural Equation Modelling (SEM) is applied to test the confirmation factor analysis (CFA), accordingly path diagram is drawn. The primary data was collected with well structed questionnaire from auditors, accounting professionals working in companies and academicians Drop-off survey was conducted and the targeted sample size is 400 across India. The results indicate that as India is developing country, the financial structure is more likely to adopt IFRS. The Hofstede dimensions do have a significant impact as an exploratory variable, suggesting that Indian financial system do need to be more optimistic in adopting these standards to meet the global requirements of the stakeholders.
Author: Paul DiMaggio
Publisher:
ISBN:
Category : Conformity
Languages : en
Pages : 66
Get Book Here
Book Description
Author: Vanessa Le Leslé
Publisher: International Monetary Fund
ISBN: 1475502656
Category : Business & Economics
Languages : en
Pages : 50
Get Book Here
Book Description
In this paper, we provide an overview of the concerns surrounding the variations in the calculation of risk-weighted assets (RWAs) across banks and jurisdictions and how this might undermine the Basel III capital adequacy framework. We discuss the key drivers behind the differences in these calculations, drawing upon a sample of systemically important banks from Europe, North America, and Asia Pacific. We then discuss a range of policy options that could be explored to fix the actual and perceived problems with RWAs, and improve the use of risk-sensitive capital ratios.
Author: Jennifer Francis
Publisher: Now Publishers Inc
ISBN: 1601981147
Category : Business & Economics
Languages : en
Pages : 97
Get Book Here
Book Description
This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author: Mr.Sanjeev Gupta
Publisher: International Monetary Fund
ISBN: 1451849842
Category : Business & Economics
Languages : en
Pages : 42
Get Book Here
Book Description
This paper demonstrates that high and rising corruption increases income inequality and poverty by reducing economic growth, the progressivity of the tax system, the level and effectiveness of social spending, and the formation of human capital, and by perpetuating an unequal distribution of asset ownership and unequal access to education. These findings hold for countries with different growth experiences, at different stages of development, and using various indices of corruption. An important implication of these results is that policies that reduce corruption will also lower income inequality and poverty.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1498340067
Category : Business & Economics
Languages : en
Pages : 82
Get Book Here
Book Description
Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
