This service is more advanced with JavaScript available, learn more at http: Review of Accounting Studies. This paper reviews the literature on the effects of International Financial Reporting Standards IFRS adoption. It aims to provide a cohesive picture of empirical archival literature on how IFRS adoption affects: In addition, we also present discussion of studies that focus on specific attributes of IFRS, and also provide detailed discussion of research design choices and empirical issues researchers face when evaluating IFRS adoption effects.

We broadly summarize the development of the IFRS literature as follows: The majority of early studies paint IFRS as bringing significant benefits to adopting firms and countries in terms of i improved transparency, ii lower costs of capital, iii improved cross-country investments, iv better comparability of financial reports, and v increased following by foreign analysts. However, these documented benefits tended to vary significantly across firms and countries.

More recent studies now attribute at least some of the earlier documented benefits to factors other than adoption of new accounting standards per se, such as enforcement changes. Other recent studies examining the effects of IFRS on the inclusion of accounting numbers in formal contracts point out that IFRS has lowered the contractibility of accounting numbers. Finally, we observe substantial variation in empirical designs across papers which makes it difficult to reconcile differences in their conclusions.

Part of Springer Nature. Not logged in Not affiliated A review of the IFRS adoption literature. Cite this article as: Rev Account Stud Forcing firms to talk: Financial disclosure regulation and externalities. Review of Financial Studies, 13 3— A meta-analysis of IFRS adoption effects. The International Journal of Accounting, 48— Does mandatory adoption of IFRS improve accounting quality?

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How do individual investors react to global IFRS adoption?

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Archival evidence from a transition economy. Journal of Accounting and Economics, 5058— The effects of financial reporting on bank loan contracting in global markets: Evidence from mandatory IFRS adoption. Journal of International Accounting Research forthcoming. The impact of eliminating the Form F reconciliation on shareholder wealth: The Accounting Review, 90 1— The effect of mandatory IFRS adoption of international cross-listings.

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Contemporary Accounting Research, 30 2— Externalities of mandatory IFRS adoption: Evidence from cross-border spillover effects of financial information on investment efficiency. The impact of regulatory enforcement and audit upon IFRS compliance—Evidence from China.

European Accounting Review, 19 4— The adoption of IFRS in Australia: The case of AASB Buying stocks bid and ask price 38 intangible assets.

Australian Accounting Review, 46 18— Why do firms rarely adopt IFRS voluntarily? Academics find significant benefits and the costs appear to be low. Review of Accounting Studies, 17— Mandatory IFRS reporting and changes in enforcement.

Journal of Accounting and Economics, 56 2—3— Do IFRS reconciliations convey information? The effect of debt contracting. Journal of Accounting Research, 47 5— What determines accounting quality changes around IFRS adoption. European Accounting Review, 24 131— Does fair value accounting for birth certificates and the stock market assets pass the market test?

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Journal of Accounting and Economics, 3— The costs and benefits of IFRS implementation in the Option trading pantip and Italy. Journal of Applied Accounting Research, 14 186— The role of countries where forex trading is illegal accounting standards in cross-border mergers and acquisitions.

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The Ceo stock options the silent dimension of ownership Review, 89 1— Correcting for cross-sectional and time-series dependence in do you make money selling pampered chef research.

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The impact of corporate governance on IFRS adoption choices. European Accounting Review, 22 139— IFRS and the use of accounting-based performance measures in executive pay. The International Journal of Accounting, 49 4— Accounting standards harmonization and financial statement comparability: Evidence from transnational information transfer.

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The Accounting Review, 87 5— Accounting comparability and the accuracy of peer-based valuation models. Accounting standards and international portfolio holdings.

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The Accounting Review, 89 5— The evolution of the IASC into the IASB, and the challenges it faces. The Accounting Review, 87 3— The contracting benefits of accounting conservatism to lenders and borrowers.

Journal of Accounting and Economics, 45 127— London Business School London UK 2. Fox School of Business Temple University Philadelphia USA 3. London School of Economics and Political Science London UK.

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