Essays on the Economic Consequences of Mandatory IFRS Reporting around the world [electronic resource] /
Brüggemann, Ulf.author.
Many listed companies around the world are required to prepare their consolidated accounts according to International Financial Reporting Standards (IFRS) since fiscal year 2005. Ulf Brüggemann discusses and empirically investigates the economic consequences of this mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS. However, he also finds that uneven implementation of IFRS and its impact on contractual outcomes whose features vary substantially across countries are likely to dampen the benefits of uniform accounting standards. Taken together, his analysis shows that mandatory IFRS reporting has the potential to produce both intended and unintended consequences.
Description based upon print version of record.
Geleitwort; Vorwort; Table of Contents; 1 Introduction; 2 Intended and unintended consequences of mandatory IFRS adoption; 2.1 Introduction; 2.2 Conceptual underpinnings; 2.2.1 Economic consequences; 2.2.2 Intended versus unintended consequences of mandatory IFRS adoption; 2.3 Intended consequences of mandatory IFRS adoption; 2.3.1 Theoretical background; 2.3.2 Empirical evidence; 2.3.2.1 Accounting effects; 2.3.2.2 Capital market effects; 2.3.2.3 Macroeconomic effects; 2.3.3 Discussion; 2.4 Unintended consequences of mandatory IFRS adoption; 2.4.1 Individual contracts
2.4.2 Collective contracts2.5 Economic consequences in anticipation of mandatory IFRS adoption; 2.5.1 Ex-ante stock market reactions; 2.5.2 Avoidance strategies; 2.5.3 Lobbying activities; 2.5.4 Timing transactions; 2.6 Summary and suggestions for future research; 2.7 Tables; 2.7.1 Sample size comparison; 3 The impact of mandatory IFRS adoption on cross-border equity investments of individual investors; 3.1 Introduction; 3.2 The Open Market; 3.2.1 Institutional background; 3.2.2 Data and descriptive statistics; 3.2.3 Determinants of Open Market inclusion
3.3 Mandatory IFRS adoption and trading activities in the Open Market3.3.1 Predictions; 3.3.2 Open Market inclusion analysis; 3.3.2.1 Research design; 3.3.2.2 Empirical findings; 3.3.3 Open Market trading volume analysis; 3.3.3.1 Research design; 3.3.3.2 Empirical findings; 3.3.4 Cross-sectional analysis of the Open Market reaction; 3.3.4.1 Research design; 3.3.4.2 Empirical findings; 3.3.5 Auxiliary analyses; 3.3.5.1 Frankfurt floor versus XETRA; 3.3.5.2 Other German exchanges; 3.4 Conclusions; 3.5 Tables; 3.5.1 Sample composition by country and year; 3.5.2 Descriptive statistics
3.5.3 Institutional characteristics of IFRS and non-IFRS adoption countries3.5.4 Determinants of Open Market inclusion; 3.5.5 Mandatory IFRS adoption and Open Market inclusion; 3.5.6 Mandatory IFRS adoption and Open Market trading activity; 3.5.7 Cross-sectional analysis of the Open Market reaction; 3.6 Appendices; 3.6.1 Comparison of transaction costs: Open Market versus home markets; 3.6.2 Google search results and trading volume; 4 The economic consequences of fair value reclassifications under IFRS; 4.1 Introduction; 4.2 Institutional background
4.2.1 Events preceding the reclassification amendments4.2.2 The reclassification amendments; 4.2.2.1 Amendments to IAS 39: recognition and measurement; 4.2.2.2 Amendments to IFRS 7: disclosures; 4.2.2.3 Consequences for the regulatory capital of banks; 4.2.3 Initial reactions to the amendment decision; 4.3 Hypotheses development and related literature; 4.3.1 Short-term benefits of the reclassification choice during the financial crisis; 4.3.2 Long-term costs of the reclassification choice; 4.4 Empirical analysis; 4.4.1 Sample selection and data sources; 4.4.2 Descriptive evidence
4.4.2.1 Accounting effects of the reclassification amendments
Dissertation--Universität zu Köln, 2011.
Includes bibliographical references.
Many listed companies around the world are required to prepare their consolidated accounts according to International Financial Reporting Standards (IFRS) since fiscal year 2005. Ulf Brüggemann discusses and empirically investigates the economic consequences of this mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS. However, he also finds that uneven implementation of IFRS and its impact on contractual outcomes whose features vary substantially across countries are likely to dampen the benefits of uniform accounting standards. Taken together, his analysis shows that mandatory IFRS reporting has the potential to produce both intended and unintended consequences.
Accounting.
Bookkeeping .
Accounting/Auditing.