Voluntary Adoption of IFRS: What Motivates Japanese Firms to Voluntarily Adopt IFRS?
Voluntary Adoption of IFRS: What Motivates Japanese Firms to Voluntarily Adopt IFRS?
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DOI：
10.2139/ssrn.3364253
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发表时间：
2019-01
期刊：
影响因子：
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通讯作者：
S. Gray;Kyoko Nagata;Miho Nakamura;C. Ozu
中科院分区：
文献类型：
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作者：
S. Gray;Kyoko Nagata;Miho Nakamura;C. Ozu
自2013年以来，越来越多的日本公司采用或计划采用国际财务报告准则，当时几乎所有上市公司都被允许在日本采用国际财务报告准则。虽然还有其他选择，如日本公认会计准则，美国公认会计准则，或日本修改的国际标准（JMIS），这些公司选择了“纯粹的国际财务报告准则”。本研究通过将公司选择（不）采用国际财务报告准则与国际财务报告准则前决策期的调查数据相匹配，调查了激励公司在自愿环境中采用国际财务报告准则的因素，该调查数据提供了日本首席财务官对国际财务报告准则收益和成本的整体看法。我们发现，虽然国际财务报告准则自愿采用者预计，向国际财务报告准则过渡将涉及与非采用者一样多的重大成本，但他们有动力通过使用国际财务报告准则更好地与全球资本市场参与者沟通。进一步的分析表明，认为使用国际财务报告准则会带来有利后果的公司更有可能自愿采用国际财务报告准则，尽管对过渡过程中可能涉及的成本存在严重担忧。
Increasing numbers of Japanese firms have adopted or plan to adopt IFRS since 2013, when almost all listed firms were permitted to adopt IFRS in Japan. Although there are other options such as Japanese-GAAP, US-GAAP, or Japanese Modified International Standards (JMIS), these firms have chosen ‘pure IFRS’. This study investigates the factors that motivate firms to adopt IFRS in a voluntary setting by matching firms’ choice to (not) adopt IFRS with survey data from the IFRS pre-decision period that provides a holistic picture of Japanese CFOs’ perceptions of the benefits and costs of IFRS. We find that while IFRS voluntary adopters have expected that transitioning to IFRS will involve significant costs just as much as non-adopters do, they are motivated to better communicate with global capital market participants through using IFRS. Further analyses show that firms that perceive favorable consequences from using IFRS are more likely to adopt IFRS voluntarily despite serious concerns about the likely costs involved during the transition process.