تأثیر IFRS بر شرکت های اسپانیایی
ترجمه نشده

تأثیر IFRS بر شرکت های اسپانیایی

عنوان فارسی مقاله: تأثیر IFRS بر شرکت های اسپانیایی بدون لیست سهام: تحلیلگران مالی و حجم تجارت
عنوان انگلیسی مقاله: Impact of IFRS on non-cross-listed Spanish companies: Financial analysts and volume of trade
مجله/کنفرانس: تحقیقات اروپایی در زمینه مدیریت و اقتصاد تجاری – European Research on Management and Business Economics
رشته های تحصیلی مرتبط: حسابداری، اقتصاد
گرایش های تحصیلی مرتبط: حسابداری مالی، اقتصاد مالی
کلمات کلیدی فارسی: لیست سهام، خطای پیش بینی تحلیلگران، حجم تجارت، استانداردهای گزارشگری مالی بین المللی
کلمات کلیدی انگلیسی: Cross-listing، Analyst forecast error، Volume of trade، International Financial Reporting Standards
نوع نگارش مقاله: مقاله پژوهشی (Research Article)
نمایه: Scopus – Master Journals List
شناسه دیجیتال (DOI): https://doi.org/10.1016/j.iedeen.2020.04.001
دانشگاه: Universidad de Alicante, Departamento de Economía Financiera y Contabilidad, 03690 Alicante, Spain
ناشر: الزویر - Elsevier
نوع ارائه مقاله: ژورنال
نوع مقاله: ISI
سال انتشار مقاله: 2020
ایمپکت فاکتور: 2.000 در سال 2019
شاخص H_index: 11 در سال 2020
شاخص SJR: 0.308 در سال 2019
شناسه ISSN: 2444-8834
شاخص Quartile (چارک): Q3 در سال 2019
فرمت مقاله انگلیسی: PDF
تعداد صفحات مقاله انگلیسی: 8
وضعیت ترجمه: ترجمه نشده است
قیمت مقاله انگلیسی: رایگان
آیا این مقاله بیس است: بله
آیا این مقاله مدل مفهومی دارد: ندارد
آیا این مقاله پرسشنامه دارد: ندارد
آیا این مقاله متغیر دارد: دارد
کد محصول: E15022
رفرنس: دارای رفرنس در داخل متن و انتهای مقاله
فهرست انگلیسی مطالب

Abstract


JEL classification


۱٫ Introduction


۲٫ Hypotheses


۳٫ Sample


۴٫ Methodology


۵٫ Results


۶٫ Sensitivity analysis


۷٫ Conclusions


References

نمونه متن انگلیسی مقاله

Abstract


This study aims to analyse, within the scope of publicly listed Spanish companies, whether the mandatory implementation of International Financial Reporting Standards (IFRS) has had an effect on financial analysts’ earnings forecasts and investments in non-cross-listed Spanish companies (those only listed on the Spanish capital market). A sample of 369 observations for companies listed on the Spanish securities market for the period 2004–۲۰۰۷, of which 84 are cross-listed, was used to perform the analysis. The results show that the transition from domestic to international accounting standards has had positive effects for non-cross-listed Spanish companies, leading to the improved accuracy of financial analysts’ earnings forecasts and an increase in investments.


Introduction


The wide range of financial reporting standards used around the world is an important factor that impacts data processing costs for investors who wish to diversify their investment portfolios on an international scale (Khurana & Michas, 2011). The use of domestic accounting standards make it more expensive and difficult to assess investment opportunities due to the complexity of comparing financial reports of companies listed on different international markets. Owing to this complexity, companies seeking to invest in other countries are obliged to reconcile their financial results to the host country’s financial reporting standards to ensure comparability. As of 1 January 2005, Regulation (EC) No. 1606/2002 of the European Parliament and of the Council requires all listed companies to prepare their consolidated financial reports in accordance with International Financial Reporting Standards (IFRS). The aim of simultaneously adopting IFRS in all listed companies in different countries is to achieve the greater uniformity, transparency, reliability, and comparability of financial data on capital markets (Alon & Dwyer, 2014; Barth, Landsman, & Lang, 2008). In the case of listed Spanish companies, the mandatory adoption of IFRS in 2005 has facilitated the comparability of financial data with respect to other listed European companies. The literature on the consequences of IFRS adoption is mixed. However, numerous studies have highlighted the benefits, including White (2007), Armstrong, Barth, Jagolinzer, and Riedl (2010), Daske, Hail, Leuz, and Verdi (2008), Johnson (2009), Zhou, Xiong, and Ganguli (2009), and Barth, Landsman, Lang, and Williams (2012), who report a positive impact of IFRS in terms of greater uniformity, transparency, and comparability of financial data, thus reducing data preparation and processing costs. The availability of more uniform and transparent data also reduces information asymmetries between investors and increases market liquidity (Abad, Cutillas-Gomariz, Sánchez-Ballesta, & Yagüe, 2018). As regards securities trading, Daske et al. (2008), Daske, Hail, Leuz, and Verdi (2013), Li (2010), and Christensen, Hail, and Leuz (2013) observed that IFRS adoption increases market liquidity. This increase is greater in countries with stronger enforcement mechanisms where companies have greater incentives to be more transparent.

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