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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/74024

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/74024

Title:	Mandatory adoption of IFRS and timely loss recognition across Europe: The effect of corporate finance incentives
Authors:	Chan, Ann Ling Ching;Hsu, A.W.-H.;Lee, E. 詹凌菁
Contributors:	會計系
Keywords:	IFRS;Costs of debt capital;Timely loss recognition;Corporate finance
Date:	2015-03
Issue Date:	2015-03-25 10:14:32 (UTC+8)
Abstract:	We examine whether firms have increased their timely loss recognition with the mandatory adoption of International Financial Reporting Standards (IFRS) across Europe since 2005. We estimate firm-specific asymmetric timeliness using the Khan and Watts (2009) C-score, which accounts for size, market-to-book, and leverage. We use firms that voluntarily adopted IFRS before the mandatory adoption date as a control sample to address the effect of unidentified confounding events. We find increased timely loss recognition relative to this control sample only among mandatory IFRS adopters with a higher cost of debt and in countries less dependent on private debt or bank financing. Our results are robust to controls for firm characteristics such as interest coverage, return on assets, earnings volatility, loss, accrual quality, beta, and growth, as well as both industry and country effects. We confirm that corporate finance incentives play a decisive role in determining firms` timeliness of loss recognition after mandatory IFRS adoption.
Relation:	International Review of Financial Analysis,38,70-82
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.irfa.2015.02.002
DOI:	10.1016/j.irfa.2015.02.002
Appears in Collections:	[會計學系] 期刊論文

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