リケラボ論文検索は、全国の大学リポジトリにある学位論文・教授論文を一括検索できる論文検索サービスです。

リケラボ 全国の大学リポジトリにある学位論文・教授論文を一括検索するならリケラボ論文検索大学・研究所にある論文を検索できる

リケラボ 全国の大学リポジトリにある学位論文・教授論文を一括検索するならリケラボ論文検索大学・研究所にある論文を検索できる

大学・研究所にある論文を検索できる 「Voluntary IFRS adoption and accounting quality: Evidence from Japan」の論文概要。リケラボ論文検索は、全国の大学リポジトリにある学位論文・教授論文を一括検索できる論文検索サービスです。

コピーが完了しました

URLをコピーしました

論文の公開元へ論文の公開元へ
書き出し

Voluntary IFRS adoption and accounting quality: Evidence from Japan

顧, 俊堅 筑波大学

2022.02.01

概要

Accounting scholars have discussed the determinants of International Financial Reporting Standards (IFRS) adoption and its outcomes. However, little research focuses on the Asian countries that voluntarily adopted IFRS on a limited basis. In this study, we focus on a specific country, Japan, the largest nation worldwide that allows voluntary IFRS adoption. According to expectancy the- ory, we predict that voluntary IFRS adoption with motivation simi- lar to that of the International Accounting Standards Board can improve accounting quality by enhancing motivation to adhere to the IFRS guidelines, which increases financial reporting compar- ability. We find that voluntary IFRS adoption by Japanese firms with positive motivation reduces income smoothing and enhan- ces the extent of conditional conservatism. Additionally, we find that these associations primarily exist in firms with higher lever- age, banker investors, a higher degree of tax avoidance and in regions with strong outside investor rights. Our main findings are robust to several sensitivity tests. This study fills a gap in the existing literature on IFRS adoption by investigating the effect of voluntary IFRS adoption on accounting quality from an adoption motivation perspective.

参考文献

Aharony, J., Barniv, R., & Falk, H. (2010). The impact of mandatory IFRS adoption on equity valuation of accounting numbers for security investors in the EU. European Accounting Review, 19(3), 535–578. https://doi.org/10.1080/09638180.2010.506285

Ahmed, A. S., Neel, M., & Wang, D. (2013). Does mandatory adoption of IFRS improve accounting quality? Preliminary evidence. Contemporary Accounting Research, 30(4), 1344–1372. https://doi.org/10.1111/j.1911-3846.2012.01193.x

Andr´e, P., Filip, A., & Paugam, L. (2015). The effect of mandatory IFRS adoption on condi- tional conservatism in Europe. Journal of Business Finance & Accounting, 42(3-4), 482–514. https://doi.org/10.1111/jbfa.12105

Auer, K. V. (1996). Capital market reactions to earnings announcements: Empirical evidence on the difference in the information content of IAS-based earnings and EC-directives-based earn- ings. European Accounting Review, 5(4), 587–623. https://doi.org/10.1080/09638189600000039

Ball, R., & Shivakumar, L. (2005). Earnings quality in UK private firms: Comparative loss rec- ognition timeliness. Journal of Accounting and Economics, 39(1), 83–128. https://doi.org/10. 1016/j.jacceco.2004.04.001

Ball, R., Li, X., & Shivakumar, L. (2015). Contractibility and transparency of financial statement information prepared under IFRS: Evidence from debt contracts around IFRS adoption. Journal of Accounting Research, 53(5), 915–963. https://doi.org/10.1111/1475-679X.12095

Barth, M. E., Landsman, W. R., & Lang, M. H. (2008). International accounting standards and accounting quality. Journal of Accounting Research, 46(3), 467–498. https://doi.org/10.1111/j. 1475-679X.2008.00287.x

Beneish, M. D., & Yohn, T. L. (2008). Information friction and investor home bias: A perspec- tive on the effect of global IFRS adoption on the extent of equity home bias. Journal of Accounting and Public Policy, 27(6), 433–443. https://doi.org/10.1016/j.jaccpubpol.2008.09.001

Bova, F., & Pereira, R. (2012). The determinants and consequences of heterogeneous IFRS com- pliance levels following mandatory IFRS adoption: Evidence from a developing country. Journal of International Accounting Research, 11(1), 83–111. https://doi.org/10.2308/jiar-10211

Brochet, F., Jagolinzer, A. D., & Riedl, E. J. (2013). Mandatory IFRS adoption and financial statement comparability. Contemporary Accounting Research, 30(4), 1373–1400. https://doi. org/10.1111/1911-3846.12002

Bru€ggemann, U., Hitz, J.-M., & Sellhorn, T. (2013). Intended and unintended consequences of mandatory IFRS adoption: A review of extant evidence and suggestions for future research. European Accounting Review, 22(1), 1–37. https://doi.org/10.1080/09638180.2012.718487

Business Accounting Council (BAC). (2009, June 30). Opinion on the application of inter- national financial reporting standards (IFRS) in Japan (interim report). Business Accounting Council. https://www.fsa.go.jp/en/news/2009/20090701-1/01.pdf

Chalmers, K., Clinch, G., & Godfrey, J. M. (2011). Changes in value relevance of accounting information upon IFRS adoption: Evidence from Australia. Australian Journal of Management, 36(2), 151–173. https://doi.org/10.1177/0312896211404571

Chan, A. L.-C., Hsu, A. W., & Lee, E. (2013). Does mandatory IFRS adoption affect the credit ratings of foreign firms cross-listed in the U.S.? Accounting Horizons, 27(3), 491–510. https://doi.org/10.2308/acch-50483

Christensen, H. B., Lee, E., & Walker, M. (2007). Cross-sectional variation in the economic consequences of international accounting harmonization: The case of mandatory IFRS adop- tion in the UK. The International Journal of Accounting, 42(4), 341–379. https://doi.org/10. 1016/j.intacc.2007.09.007

Christensen, H. B., Lee, E., Walker, M., & Zeng, C. (2015). Incentives or standards: What determines accounting quality changes around IFRS adoption? European Accounting Review, 24(1), 31–61. https://doi.org/10.1080/09638180.2015.1009144

Chua, Y. L., Cheong, C. S., & Gould, G. (2012). The impact of mandatory IFRS adoption on accounting quality: Evidence from Australia. Journal of International Accounting Research, 11(1), 119–146. https://doi.org/10.2308/jiar-10212

Cotter, J., Tarca, A., & Wee, M. (2012). IFRS adoption and analysts’ earnings forecasts: Australian evidence. Accounting & Finance, 52(2), 395–419. https://doi.org/10.1111/j.1467-629X.2010.00392.x

De George, E. T., Ferguson, C. B., & Spear, N. A. (2013). How much does IFRS cost? IFRS adoption and audit fees. The Accounting Review, 88(2), 429–462. https://doi.org/10.2308/accr-50317

De George, E. T., Li, X., & Shivakumar, L. (2016). A review of the IFRS adoption literature. Review of Accounting Studies, 21(3), 898–1004. https://doi.org/10.1007/s11142-016-9363-1 DeFond, M. L., Hung, M., Li, S., & Li, Y. (2015). Does mandatory IFRS adoption affect crash risk? The Accounting Review, 90(1), 265–299. https://doi.org/10.2308/accr-50859

DeFond, M., Hu, X., Hung, M., & Li, S. (2011). The impact of mandatory IFRS adoption on foreign mutual fund ownership: The role of comparability. Journal of Accounting and Economics, 51(3), 240–258. https://doi.org/10.1016/j.jacceco.2011.02.001

Dharmapala, D. (2008). What problems and opportunities are created by tax havens? Oxford Review of Economic Policy, 24(4), 661–679. https://doi.org/10.1093/oxrep/grn031

Dou, Y., Hope, O.-K., & Thomas, W. B. (2013). Relationship-specificity, contract enforceabil- ity, and income smoothing. The Accounting Review, 88(5), 1629–1656. https://doi.org/10. 2308/accr-50489

Downes, J. F., Kang, T., Kim, S., & Lee, C. (2019). Does the mandatory adoption of IFRS improve the association between accruals and cash flows? Evidence from accounting esti- mates. Accounting Horizons, 33(1), 39–59. https://doi.org/10.2308/acch-52262

Financial Services Agency (FSA). (2015, April 15). IFRS adoption report. Financial Services Agency. https://www.fsa.go.jp/en/news/2015/20151113-1/01.pdf

Fito´, A., G´omez, F., & Moya, S. (2012). Choices in IFRS adoption in Spain: Determinants and con-sequences. Accounting in Europe, 9(1), 61–83. https://doi.org/10.1080/17449480.2012.664390 Florou, A., & Pope, P. F. (2012). Mandatory IFRS adoption and institutional investment deci-sions. The Accounting Review, 87(6), 1993–2025. https://doi.org/10.2308/accr-50225

Francis, J. R., Khurana, I. K., Martin, X., & Pereira, R. (2008). The role of firm-specific incentives and country factors in explaining voluntary IAS adoptions: Evidence from private firms. European Accounting Review, 17(2), 331–360. https://doi.org/10.1080/09638180701819899

Francis, J., LaFond, R., Olsson, P. M., & Schipper, K. (2004). Costs of equity and earnings attrib- utes. The Accounting Review, 79(4), 967–1010. https://doi.org/10.2308/accr.2004.79.4.967

Garc´ıa Lara, J. M., Garc´ıa Osma, B., & Penalva, F. (2009). Accounting conservatism and cor- porate governance. Review of Accounting Studies, 14(1), 161–201. https://doi.org/10.1007/ s11142-007-9060-1

Gassen, J., & Fu€lbier, R. U. (2015). Do creditors prefer smooth earnings? Evidence from European private firms. Journal of International Accounting Research, 14(2), 151–180. https://doi.org/10.2308/jiar-51130

Gebhardt, G., & Novotny-Farkas, Z. (2011). Mandatory IFRS adoption and accounting quality of European banks. Journal of Business Finance & Accounting, 38(3-4), 289–333. https://doi. org/10.1111/j.1468-5957.2011.02242.x

Gordon, L. A., Loeb, M. P., & Zhu, W. (2012). The impact of IFRS adoption on foreign direct investment. Journal of Accounting and Public Policy, 31(4), 374–398. https://doi.org/10.1016/ j.jaccpubpol.2012.06.001

Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). McGraw-Hill.

Gunny, K. A. (2010). The relation between earnings management using real activities manipu- lation and future performance: Evidence from meeting earnings benchmarks. Contemporary Accounting Research, 27(3), 855–888. https://doi.org/10.1111/j.1911-3846.2010.01029.x

Guo, S., & Fraser, M. W. (2009). Propensity score analysis: Statistical methods and applications. SAGE Publications.

Haw, I.-M G., Ho, S. S. M., Li, Y., & Zhang, F. (2015). Product market competition, legal insti- tutions, and accounting conservatism. Journal of International Accounting Research, 14(2), 1–39. https://doi.org/10.2308/jiar-51051

He, W., & Lu, C.-J. (2018). Why do analysts issue sales forecasts? Evidence from mandatory IFRS adoption. Accounting Horizons, 32(1), 121–141. https://doi.org/10.2308/acch-51941

Houqe, M. N., van Zijl, T., Dunstan, K., & Karim, A. K. M. W. (2012). The effect of IFRS adoption and investor protection on earnings quality around the world. The International Journal of Accounting, 47(3), 333–355. https://doi.org/10.1016/j.intacc.2012.07.003

Jeanjean, T., & Stolowy, H. (2008). Do accounting standards matter? An exploratory analysis of earnings management before and after IFRS adoption. Journal of Accounting and Public Policy, 27(6), 480–494. https://doi.org/10.1016/j.jaccpubpol.2008.09.008

Judge, W., Li, S., & Pinsker, R. (2010). National adoption of international accounting stand- ards: An institutional perspective. Corporate Governance: An International Review, 18(3), 161–174. https://doi.org/10.1111/j.1467-8683.2010.00798.x

Kang, T., Krishnan, G. V., Wolfe, M. C., & Yi, H. S. (2012). The impact of eliminating the 20- F reconciliation requirement for IFRS filers on earnings persistence and information uncer- tainty. Accounting Horizons, 26(4), 741–765. https://doi.org/10.2308/acch-50250

Kashiwazaki, R., Sato, S., & Takeda, F. (2019). Does IFRS adoption accelerate M&A? The con- sequences of different goodwill accounting in Japan. International Advances in Economic Research, 25(4), 399–415. https://doi.org/10.1007/s11294-019-09757-0

Khurana, I. K., & Michas, P. N. (2011). Mandatory IFRS adoption and the U.S. home bias. Accounting Horizons, 25(4), 729–753. https://doi.org/10.2308/acch-50075

Kim, J.-B., Liu, X., & Zheng, L. (2012). The impact of mandatory IFRS adoption on audit fees: Theory and evidence. The Accounting Review, 87(6), 2061–2094. https://doi.org/10.2308/ accr-50223

Kinnunen, J., Niskanen, J., & Kasanen, E. (2000). To whom are IAS earnings informative? Domestic versus foreign shareholders’ perspectives. European Accounting Review, 9(4), 499–517. https://doi.org/10.1080/09638180020025330

La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy, 106(6), 1113–1155. https://doi.org/10.1086/250042

Lantto, A.-M., & Sahlstro€m, P. (2009). Impact of international financial reporting standard adoption on key financial ratios. Accounting & Finance, 49(2), 341–361. https://doi.org/10. 1111/j.1467-629X.2008.00283.x

Lee, H. S., Li, X., & Sami, H. (2015). Conditional conservatism and audit fees. Accounting Horizons, 29(1), 83–113. https://doi.org/10.2308/acch-50928

Mayberry, M. A., McGuire, S. T., & Omer, T. C. (2015). Smoothness and the value relevance of taxable income. Journal of the American Taxation Association, 37(2), 141–167. https://doi. org/10.2308/atax-51252

Nobes, C. W., & Zeff, S. A. (2016). Have Canada, Japan and Switzerland adopted IFRS? Australian Accounting Review, 26(3), 284–290. https://doi.org/10.1111/auar.12131

Ozu, C., Nakamura, M., Nagata, K., & Gray, S. J. (2018). Transitioning to IFRS in Japan: Corporate perceptions of costs and benefits. Australian Accounting Review, 28(1), 4–13. https://doi.org/10.1111/auar.12168

Renders, A., & Gaeremynck, A. (2007). The impact of legal and voluntary investor protection on the early adoption of international financial reporting standards (IFRS). De Economist, 155(1), 49–72. https://doi.org/10.1007/s10645-006-9041-y

Sato, S., & Takeda, F. (2017). IFRS adoption and stock prices of Japanese firms in governance system transition. The International Journal of Accounting, 52(4), 319–337. https://doi.org/ 10.1016/j.intacc.2017.09.002

Schleicher, T., Tahoun, A., & Walker, M. (2010). IFRS adoption in Europe and investment- cash flow sensitivity: Outsider versus insider economies. The International Journal of Accounting, 45(2), 143–168. https://doi.org/10.1016/j.intacc.2010.04.007

Shipman, J. E., Swanquist, Q. T., & Whited, R. L. (2017). Propensity score matching in accounting research. The Accounting Review, 92(1), 213–244. https://doi.org/10.2308/accr- 51449

Soderstrom, N. S., & Sun, K. J. (2007). IFRS adoption and accounting quality: A review. European Accounting Review, 16(4), 675–702. https://doi.org/10.1080/09638180701706732 Sun, J., Cahan, S. F., & Emanuel, D. (2011). How would the mandatory adoption of IFRS affect the earnings quality of U.S. firms? Evidence from cross-listed firms in the U.S. Accounting Horizons, 25(4), 837–860. https://doi.org/10.2308/acch-50049

Tiron-Tudor, A., & Achim, A. M. (2019). Accounting quality and stock price informativeness: A cross-country study. Economic Research-Ekonomska Istraˇzivanja, 32(1), 2481–2499. https://doi.org/10.1080/1331677X.2019.1650655

Tsunogaya, N. (2016). Issues affecting decisions on mandatory adoption of international finan- cial reporting standards (IFRS) in Japan. Accounting, Auditing & Accountability Journal, 29(5), 828–860. https://doi.org/10.1108/AAAJ-07-2014-1765

Valentincic, A., Novak, A., & Kosi, U. (2017). Accounting quality in private firms during the transition towards international standards. Accounting in Europe, 14(3), 358–387. https://doi. org/10.1080/17449480.2017.1378821

Van Tendeloo, B., & Vanstraelen, A. (2005). Earnings management under German GAAP ver- sus IFRS. European Accounting Review, 14(1), 155–180. https://doi.org/10.1080/ 0963818042000338988

Verriest, A., Gaeremynck, A., & Thornton, D. B. (2013). The impact of corporate governance on IFRS adoption choices. European Accounting Review, 22(1), 39–77. https://doi.org/10. 1080/09638180.2011.644699

Vroom, V. H. (1964). Work and motivation. Wiley.

参考文献をもっと見る

全国の大学の
卒論・修論・学位論文

一発検索!

この論文の関連論文を見る