The Impact of Legal and Voluntary Investor Protection on the Early Adoption of International Financial Reporting Standards (IFRS)

@article{Renders2007TheIO,
  title={The Impact of Legal and Voluntary Investor Protection on the Early Adoption of International Financial Reporting Standards (IFRS)},
  author={Annelies Renders and Ann Gaeremynck},
  journal={De Economist},
  year={2007},
  volume={155},
  pages={49-72}
}
SummaryPrior studies explain the early adoption of International Financial Reporting Standards (IFRS) by firm-specific benefits. However, IFRS adoption also leads to increased disclosure and reduced accounting choices, resulting in a loss of private benefits for company insiders. This paper argues that this loss depends on characteristics of the institutional environment (i.e. the level of investor protection). We find that in countries with strong laws or extensive corporate governance codes… CONTINUE READING

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