The economic effects of IFRS adoption in KoreaFootnote^*

* Accepted by Jeong-Bon Kim upon recommendation by Haina Shi

References

• Ahmed, A., M. Neel, and D. Wang. 2013. “Does Mandatory Adoption of IFRS Improve Accounting Quality? Preliminary Evidence.” Contemporary Accounting Research 30 (4): 1344–1372.10.1111/care.2013.30.issue-4
   Web of Science ®Google Scholar
• Ashbaugh, H., and M. Pincus. 2001. “Domestic Accounting Standards, International Accounting Standards, and the Predictability of Earnings.” Journal of Accounting Research 39 (3): 417–434.10.1111/1475-679X.00020
   Web of Science ®Google Scholar
• Atwood, T. J., M. S. Draje, J. N. Myers, and L. A. Myers. 2011. “Do Earnings Reported under IFRS Tell us More about Future Earnings and Cash Flows?” Journal of Accounting Public Policy 30: 103–121.10.1016/j.jaccpubpol.2010.10.001
   Web of Science ®Google Scholar
• Aussenegg, W., P. Inwinkl, and G. T. Schneider. 2008. Earnings Management and Local vs. International Accounting Standards of European Public Firms, Working Paper. Vienna: Vienna University of Technology.
   Google Scholar
• Ball, R., and L. Shivakumar. 2005. “Earnings Quality in U.K. Private Firms: Comparative Loss Recognition Timeliness.” Journal of Accounting and Economics 39: 83–128.10.1016/j.jacceco.2004.04.001
   Web of Science ®Google Scholar
• Ball, R., S. P. Kothari, and A. Robin. 2000. “The Effect of International Institutional Factors on Properties of Accounting Earnings.” Journal of Accounting and Economics 29 (1): 1–51.10.1016/S0165-4101(00)00012-4
   Web of Science ®Google Scholar
• Ball, R., A. Robin, and J. S. Wu. 2003. “Incentives versus Standards: Properties of Accounting Income in Four East Asian Countries.” Journal of Accounting & Economics 36: 235–270.10.1016/j.jacceco.2003.10.003
   Web of Science ®Google Scholar
• Barth, M. E., W. R. Landsman, and M. Lang. 2008. “International Accounting Standards and Accounting Quality.” Journal of Accounting Research 46 (3): 467–498.10.1111/j.1475-679X.2008.00287.x
   Web of Science ®Google Scholar
• Barth, M., W. Landsman, and Z. Zhang. 2014. “Relevance of Differences between Net Income Based on IFRS and Domestic Standards for European Firms.” Journal of Business Finance & Accounting 41 (3–4): 297–327.10.1111/jbfa.2014.41.issue-3-4
   Web of Science ®Google Scholar
• Basu, S. 1997. “The Conservatism Principle and the Asymmetric Timeliness of Earnings.” Journal of Accounting and Economics 24 (1): 3–37.10.1016/S0165-4101(97)00014-1
   Web of Science ®Google Scholar
• Bradshaw, M. T., and G. S. Miller. 2007. Will Harmonizing Accounting Standards Really Harmonize Accounting? Evidence from Non-U.S. Firms Adopting US GAAP, Working Paper. Boston, MA: Harvard Business School.
   Google Scholar
• Burgstahler, D., and I. Dichev. 1997. “Earnings-management to Avoid Earnings Decreases and Losses.” Journal of Accounting and Economics 24: 99–126.10.1016/S0165-4101(97)00017-7
   Web of Science ®Google Scholar
• Burgstahler, D., L. Hail, and C. Leuz. 2006. “The Importance of Reporting Incentives: Earnings Management in European Private and Public Firms.” The Accounting Review 81: 983–1016.10.2308/accr.2006.81.5.983
   Web of Science ®Google Scholar
• Capkun, V., A. Cazavan-Jeny, T. Jeanjean, and L. A. Weiss. 2008. Earnings Management and Value Relevance during the Mandatory Transition from Local GAAPs to IFRS in Europe, Working Paper. Paris: HEC Paris.
   Google Scholar
• Chalmers, K., G. Clinch, and J. M. Godfrey. 2011. “Changes in Value Relevance of Accounting Information upon IFRS Adoption: Evidence from Australia.” Australian Journal of Business 36 (2): 151–173.
   Google Scholar
• Chen, H., Q. Tang, Y. Jiang, and Z. Lin. 2010. “The Role of International Financial Reporting Standards in Accounting Quality: Evidence from the European Union.” Journal of International Financial Management and Accounting 21: 220–278.10.1111/jifm.2010.21.issue-3
   Web of Science ®Google Scholar
• Christensen, H. B., E. Lee, and M. Walker. 2015. “Incentives or Standards: What Determines Accounting Quality Changes around IFRS Adoption?” European Accounting Review 24 (1): 31–61.10.1080/09638180.2015.1009144
   Web of Science ®Google Scholar
• Cotter, J., A. Tarca, and M. Wee. 2012. “IFRS Adoption and Analysts’ Earnings Forecasts: Australian Evidence.” Accounting and Finance 52: 395–419.10.1111/acfi.2012.52.issue-2
   Web of Science ®Google Scholar
• Daske, H., and G. Gebhardt. 2006. “International financial reporting standards and experts’ perceptions of disclosure quality”. Abacus: A Journal of Accounting. Finance and Business Studies 42: 461–498.
   Web of Science ®Google Scholar
• Daske, H., L. Hail, C. Leuz, and R. Verdi. 2008. “Mandatory IFRS Reporting around the World: Early Evidence on the Economic Consequences.” Journal of Accounting Research 46 (5): 1085–1142.
   Web of Science ®Google Scholar
• Dechow, P., and I. Dichev. 2002. “The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors.” The Accounting Review 77 (s-1): 35–59.10.2308/accr.2002.77.s-1.35
   Web of Science ®Google Scholar
• Dechow, P., R. Sloan, and A. Sweeney. 1995. “Detecting Earnings Management.” The Accounting Review 70 (2): 193–226.
   Web of Science ®Google Scholar
• Dechow, P., W. Ge, and C. Schrand. 2010. “Understanding Earnings Quality: A Review of the Proxies, Their Determinants and Consequences.” Journal of Accounting and Economics 50: 344–401.10.1016/j.jacceco.2010.09.001
   Web of Science ®Google Scholar
• Degeorge, F., J. Patel, and R. Zeckhauser. 1999. “Earnings Management to Exceed Thresholds.” Journal of Business 72: 1–33.10.1086/jb.1999.72.issue-1
   Web of Science ®Google Scholar
• Dichev, I. D., J. R. Graham, and R. H. Campbell. 2013. “Earnings Quality: Evidence from the Field.” Journal of Accounting and Economics 56: 1–33.10.1016/j.jacceco.2013.05.004
   Web of Science ®Google Scholar
• Doukakis, L. C. 2014. “The Effect of Mandatory IFRS Adoption on Real and Accrual-Based Earnings Management” Journal of Accounting Public Policy 33: 551–572.10.1016/j.jaccpubpol.2014.08.006
   Web of Science ®Google Scholar
• Ewert, R., and A. Wagenhofer. 2005. “Economic Effects of Tightening Accounting Standards to Restrict Earnings Management.” The Accounting Review 80 (4): 1101–1124.10.2308/accr.2005.80.4.1101
   Web of Science ®Google Scholar
• Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2004. “Cost of Equity and Earnings Attributes.” The Accounting Review 79: 967–1010.10.2308/accr.2004.79.4.967
   Web of Science ®Google Scholar
• Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2005. “The Market Pricing of Accruals Quality.” Journal of Accounting and Economics 39: 295–327.10.1016/j.jacceco.2004.06.003
   Web of Science ®Google Scholar
• George, E. T., C. B. Gerguson, and N. A. Spear. 2013. “How Much Does IFRS Cost? IFRS Adoption and Audit Fees.” The Accounting Review 88 (2): 429–462.10.2308/accr-50317
   Web of Science ®Google Scholar
• Gjerde, O., K. H. Knivsfla, and F. Saettan. 2008. “The Value Relevance of Adopting IFRS: Evidence from 145 NGAAP Restatements.” Journal of International Accounting, Auditing and Taxation 17: 92–112.10.1016/j.intaccaudtax.2008.07.001
   Google Scholar
• Goodwin, J., K. Ahmed, and R. Heaney. 2008. “The Effects of International Financial Reporting Standards on the Accounts and Accounting Quality of Australian Firms: A Retrospective Study.” Journal of Contemporary Accounting and Economics 4 (2): 89–119.10.1016/S1815-5669(10)70031-X
   Google Scholar
• Guan, Y., O. K. Hope, and T. Kang. 2006. “Does Similarity of Local GAAP to U.S. GAAP Explain Analysts’ Forecasts Accuracy.” Journal of Contemporary Accounting and Economics 2 (2): 190–207.
   Google Scholar
• Horton, J., G. Serafeim, and I. Serafeim. 2013. “Does Mandatory IFRS Adoption Improve the Information Environment?” Contemporary Accounting Research 30 (1): 388–423.10.1111/care.2013.30.issue-1
   Web of Science ®Google Scholar
• Ismail, W. A., T. Zijl, and K. Dunstan. 2013. “Earnings Quality and the Adoption of IFRS-Based Accounting Standards: Evidence from Emerging Market.” Asian Review of Accounting 21 (1): 53–73.10.1108/13217341311316940
   Google Scholar
• Jeanjean, T., and H. Stolowy. 2008. “Do Accounting Standards Matter? An Explanatory Analysis of Earnings Management Before and After IFRS Adoption.” Journal of Accounting and Public Policy 27 (6): 480–494.10.1016/j.intacc.2009.09.002
   Web of Science ®Google Scholar
• Joos, P. P., and E. Leung. 2013. “Investor Perceptions of Potential IFRS Adoption in the United States.” The Accounting Review 88 (2): 577–609.10.2308/accr-50338
   Web of Science ®Google Scholar
• Kang, T., G. V. Krishnan, M. C. Wolfe, and H. S. Yi. 2012. “The Impact of Eliminating the 20-F Reconciliation Requirement for IFRS Filers on Earnings Persistence and Information Uncertainty.” Accounting Horizons 26 (4): 741–765.10.2308/acch-50250
   Web of Science ®Google Scholar
• Kim, J. B., X. Liu, and L. Zheng. 2012. “The Impact of Mandatory IFRS Adoption on Audit Fees: Theory and Evidence.” The Accounting Review 87 (6): 2061–2094.10.2308/accr-50223
   Web of Science ®Google Scholar
• Kormendi, R., and R. Lipe. 1987. “Earnings Innovations, Earnings Persistence, and Stock Returns.” Journal of Business 60 (3): 323–345.10.1086/jb.1987.60.issue-3
   Web of Science ®Google Scholar
• Kothari, S. P., A. J. Leone, and C. E. Wasley. 2005. “Performance Matched Discretionary Accrual Measures.” Journal of Accounting and Economics 39 (1): 163–197.
   Web of Science ®Google Scholar
• La Porta, R., F. Lopez-de Silanes, A. Shleifer, and R. Vishny. 1998. “Law and Finance.” Journal of Political Economy 106: 1113–1155.10.1086/250042
   Web of Science ®Google Scholar
• Land, J., and M. Lang. 2002. “Empirical Evidence on the Evolution of International Earnings.” The Accounting Review 77: 115–133.10.2308/accr.2002.77.s-1.115
   Web of Science ®Google Scholar
• Lang, M., and R. Lundholm. 1996. “Corporate Disclosure Policy and Analyst Behavior.” The Accounting Review 71 (4): 467–492.
   Web of Science ®Google Scholar
• Lang, M., J. Raedy, and M. Yetman. 2003. “How Representative are Firms That Are Cross-listed in the United States? An Analysis of Accounting Quality.” Journal of Accounting Research 41: 363–386.10.1111/1475-679X.00108
   Web of Science ®Google Scholar
• Lang, M., J. S. Raedy, and W. Wilson. 2006. “Earnings Management and Cross Listing: Are Reconciled Earnings Comparable to U.S. Earnings?” Journal of Accounting and Economics 42 (1–2): 255–283.10.1016/j.jacceco.2006.04.005
   Web of Science ®Google Scholar
• Lee, M. G., S. J. Chang, and S. M. Cho. 2012. “The Adoption of International Financial Reporting Standards (IFRS), Audit Hours and Audit Fees.” Accounting and Auditing Research 54 (2): 473–503 [Printed in Korea].
   Google Scholar
• Leuz, C., D. Nanda, and P. Wysocki. 2003. “Investor Protection and Earnings Management: An International Comparison.” Journal of Financial Economics 69: 505–527.10.1016/S0304-405X(03)00121-1
   Web of Science ®Google Scholar
• Lin, S., W. Riccardi, and C. Wang. 2012. “Does Accounting Quality Change following a Switch from U.S. GAAP to IFRS? Evidence from Germany.” Journal of Accounting Public Policy 31: 641–657.10.1016/j.jaccpubpol.2012.10.006
   Web of Science ®Google Scholar
• Liu, G., and J. Sun. 2015. “Did the Mandatory Adoption of IFRS Affect the Earnings Quality of Canadian Firms?” Accounting Perspectives 14 (3): 250–275.10.1111/apr.2015.14.issue-3
   Web of Science ®Google Scholar
• Ohlson, J. 1995. “Earnings, Book Values and Dividends in Security Valuation.” Contemporary Accounting Research 11: 661–687.10.1111/care.1995.11.issue-2
   Google Scholar
• Paananen, M. 2008a. Fair Value Accounting for Goodwill under IFRS: An Exploratory Study of the Comparability in France, Germany, and the United Kingdom, Working Paper. Hatfield: University of Hertfordshire.
   Google Scholar
• Paananen, M. 2008b. The IFRS Adoption’s Effect on Accounting Quality in Sweden, Working Paper. Hatfield: University of Hertfordshire.
   Google Scholar
• Palmrose, Z. 1989. “The Relation of Audit Contract Type to Audit Fees and Hour.” The Accounting Review 64 (2): 488–499.
   Google Scholar
• Petersen, M. A. 2009. “Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches.” Review of Financial Studies 22 (1): 435–480.10.1093/rfs/hhn053
   Web of Science ®Google Scholar
• Roychowdhury, S. 2006. “Earnings Management through Real Activities Manipulation.” Journal of Accounting and Economics 42: 335–370.10.1016/j.jacceco.2006.01.002
   Web of Science ®Google Scholar
• Samarasekera, N., M. Chang, and A. Tarca. 2012. IFRS and Accounting Quality: The Impact of Enforcement, Working Paper. Perth: University of Western Australia.
   Google Scholar
• Simunic, D. A. 1980. “The Pricing of Audit Services: Theory and Evidence.” Journal of Accounting Research 18 (1): 161–190.10.2307/2490397
   Web of Science ®Google Scholar
• Sloan, R. 1996. “Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?” The Accounting Review 13: 129–144.
   Google Scholar
• Soderstrom, N., and K. Sun. 2007. “IFRS Adoption and Accounting Quality: A Review.” European Accounting Review 16 (4): 675–702.10.1080/09638180701706732
   Web of Science ®Google Scholar
• Sun, J., S. F. Cahan, and D. Emanuel. 2011. “How Would the Mandatory Adoption of IFRS Affect the Earnings Quality U.S. Firms? Evidence from Cross-listed Firms in the U.S.” Accounting Horizons 25 (4): 837–860.10.2308/acch-50049
   Web of Science ®Google Scholar
• Sunder, S. 2009. “IFRS and the Accounting Consensus.” Accounting Horizons 23 (1): 101–111.
   Web of Science ®Google Scholar
• Van Tendeloo, B., and A. Vanstraelen. 2005. “Earnings Management under German GAAP versus IFRS.” European Accounting Review 14: 155–180.10.1080/0963818042000338988
   Google Scholar
• Zeghal, D., S. M. Chtourou, and Y. M. Sellami. 2011. “An Analysis of the Effect of Mandatory Adoption of IAS/IFRS on Earnings Management.” Journal of International Accounting, Auditing and Taxation 20: 61–72.
   Google Scholar
• Zeghal, D., S. M. Chtourou, and Y. M. Fourati. 2012. “The Effect of Mandatory Adoption of IFRS on Earnings Quality: Evidence from the European Union.” Journal of International Accounting Research 11 (2): 1–25.10.2308/jiar-10221
   Google Scholar
• Zicke, J. 2014. The Effects of Accounting Standards on Financial Reporting Quality – Evidence from Germany, Working Paper. Frankfurt am Main: Goethe-University Frankfurt am Main.
   Google Scholar