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Why do private firms adopt IFRS?

Why do private firms adopt IFRS?

 Bassemir, Moritz
 2017.
 tr. 237-264 English
Tài chính Quốc tế.International Finance.Báo cáo tài chính.Doanh nghiệp tư nhân.Firm-level adoption factors.IFRS adoption, private firms.Reporting incentives.
Tác giả CN Bassemir, Moritz
Nhan đề Why do private firms adopt IFRS? / Moritiz Bassemir
Thông tin xuất bản 2017.
Mô tả vật lý tr. 237-264
Tóm tắt Do private firms voluntarily adopt IFRS? If so, why? Answers to these questions have been very limited so far, mainly due to the absence of financial data on private firms. In this paper, I exploit the German setting where the financial statements of private firms are widely available. I estimate multi-period logit regressions on the choice between national GAAP and IFRS for the consolidated financial statements of nearly 3000 German private firms with more than 14,000 firm-years in the period 1998–2010. My results suggest that the expected net benefits of IFRS adoption vary substantially across the group of private firms, depending on their financing needs, governance system, and organizational and informational complexity. Specifically, I find that private firms using IFRS have more growth opportunities, are more leveraged, are externally rated, seek to raise external capital by issuing public bonds or equity, are registered as a stock corporation, are characterized by private equity (PE) involvement, have more international sales and operations, and have a Big Five auditor. These insights should be of great interest to both preparers and regulators in the current debate about the future of financial reporting in private firms.
Thuật ngữ chủ đề Tài chính Quốc tế.
Thuật ngữ chủ đề International Finance.
Từ khóa tự do Báo cáo tài chính.
Từ khóa tự do Doanh nghiệp tư nhân.
Từ khóa tự do Firm-level adoption factors.
Từ khóa tự do IFRS adoption, private firms.
Từ khóa tự do Reporting incentives.
Nguồn trích Accounting and Business Research- Volume 8, No. 3
MARC
Hiển thị đầy đủ trường & trường con
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245[1 0] |a Why do private firms adopt IFRS? / |c Moritiz Bassemir
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520[ ] |a Do private firms voluntarily adopt IFRS? If so, why? Answers to these questions have been very limited so far, mainly due to the absence of financial data on private firms. In this paper, I exploit the German setting where the financial statements of private firms are widely available. I estimate multi-period logit regressions on the choice between national GAAP and IFRS for the consolidated financial statements of nearly 3000 German private firms with more than 14,000 firm-years in the period 1998–2010. My results suggest that the expected net benefits of IFRS adoption vary substantially across the group of private firms, depending on their financing needs, governance system, and organizational and informational complexity. Specifically, I find that private firms using IFRS have more growth opportunities, are more leveraged, are externally rated, seek to raise external capital by issuing public bonds or equity, are registered as a stock corporation, are characterized by private equity (PE) involvement, have more international sales and operations, and have a Big Five auditor. These insights should be of great interest to both preparers and regulators in the current debate about the future of financial reporting in private firms.
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650[0 0] |a International Finance.
653[0 ] |a Báo cáo tài chính.
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653[0 ] |a Firm-level adoption factors.
653[0 ] |a IFRS adoption, private firms.
653[0 ] |a Reporting incentives.
773[0 ] |t Accounting and Business Research |g Volume 8, No. 3
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