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Mandatory IFRS Reporting and Changes in Enforcement
In recent years, reporting under International Financial Reporting Standards (IFRS) became mandatory in many countries. The capital-market effects around this change have been extensively studied,Expand
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Capital Versus Performance Covenants in Debt Contracts
Building on contracting theory, we argue that financial covenants control the conflicts of interest between lenders and borrowers via two different mechanisms. Capital covenants control agencyExpand
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Incentives or Standards: What Determines Accounting Quality Changes around IFRS Adoption?
Abstract We examine the impact of managerial financial reporting incentives on accounting quality changes around International Financial Reporting Standards (IFRS) adoption. A novel feature of ourExpand
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Capital-Market Effects of Securities Regulation: Prior Conditions, Implementation, and Enforcement
We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for theExpand
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Do IFRS Reconciliations Convey Information? The Effect of Debt Contracting
We examine whether earnings reconciliation from U.K. generally accepted accounting principles (GAAP) to International Financial Reporting Standards (IFRS) convey information. As a result of debtExpand
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Does fair value accounting for non-financial assets pass the market test?
The choice between fair value and historical cost accounting is the subject of long-standing controversy among accounting academics and regulators. Nevertheless, the market-based evidence on thisExpand
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Cross-sectional variation in the economic consequences of international accounting harmonization: The case of mandatory IFRS adoption in the UK ☆
This study examines the economic consequences for UK firms of the European Union's decision to impose mandatory IFRS. We hypothesize that the impact varies across firms and is conditional on theExpand
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Does Fair Value Accounting for Non-Financial Assets Pass the Market Test?
The choice between fair value and historical cost accounting is the subject of long-standing controversy among accounting academics and regulators. Nevertheless, the market-based evidence on thisExpand
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Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective
This paper reviews theoretical and empirical work on financial contracting that is relevant to accounting researchers. Its primary objective is to discuss how the use of accounting information inExpand
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