EU gave the opportunity to each Member State to oblige/allow non-listed (i.e. private) companies to use IFRS. Considering a sample of Italian private companies which switched to IFRS in the time span from 2005 to 2008, we compare financial reporting quality between IFRS adopters and a matched...

This paper investigates the impact of the voluntary adoption of International Financial Reporting Standards (IFRS) by unlisted firms on both their financial reporting quality and on their cost of debt. Using a large international sample of unlisted EU companies where the choice of IFRS is...