IFRS adoption, reporting incentives and financial reporting quality in private firms
IFRS adoption, reporting incentives and financial reporting quality in private firms
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DOI：
10.1111/jbfa.12315
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发表时间：
2018-07-01
影响因子：
2.9
通讯作者：
Novotny-Farkas, Zoltan
中科院分区：
文献类型：
--
作者：
Bassemir, Moritz;Novotny-Farkas, Zoltan
本研究从盈利质量和披露实践两个重要维度考察了德国私营公司自愿采用国际财务报告准则(IFRS)对财务报告质量(FRQ)的影响。为了了解采用IFRS的动机的差异，我们根据一组全面的公司特征确定了四种不同类型的采用IFRS的公司。我们观察到，主要针对一种类型的公司，即年轻、快速增长并寻求进入公开股票市场的公司，采用IFRS后收益质量有所改善。使用德国GAAP和IFRS两家报告公司的样本，我们发现一些证据表明，IFRS也有助于提高收益质量。认识到我们的收益质量指标只是对FRQ的不完整衡量，我们也比较了IFRS和德国GAAP公司的披露做法。我们发现，所有IFRS类型的公司在其财务报告中披露的信息都显著更多，并表现出更高的自愿在公司网站上发布其财务报告的倾向。我们的发现表明，未能识别采用IFRS前后的收益质量变化不能自动解释为IFRS的采用对(私营)公司的FRQ没有影响。总体而言，我们的结果表明，激励和会计准则都塑造了私营公司的FRQ。
This study examines financial reporting quality (FRQ) effects around voluntary International Financial Reporting Standards (IFRS) adoptions by German private firms across two important dimensions, earnings quality and disclosure practices. To capture differences in the motivations for IFRS adoptions, we identify four different types of IFRS adopting firms based on a comprehensive set of firm characteristics. We observe earnings quality improvements around IFRS adoptions primarily for one type of firm, which is young, fast growing and seeking access to public equity markets. Using a matched sample of private German GAAP and IFRS reporting firms, we find some evidence suggesting that IFRS also contribute to higher earnings quality. Recognizing that our earnings quality metrics are only incomplete measures of FRQ, we also compare the disclosure practices of IFRS and German GAAP firms. We find that all IFRS firm types disclose significantly more information in their financial reports and show a higher propensity to publish their financial reports voluntarily on the corporate website. Our findings indicate that failure to identify earnings quality changes around IFRS adoption cannot be automatically interpreted as IFRS adoption having no effect on the FRQ of (private) firms. Collectively, our results suggest that both incentives and accounting standards shape private firms' FRQ.