Standard setters contend fair value accounting yields the most relevant measurement for financial instruments. We examine this claim by comparing the value relevance of banks' financial statements under fair value accounting with that under current GAAP, which is largely based on historical...

This paper examines the effect of the mandatory adoption of International Financial Reporting Standards (IFRS) by the European Union on financial analysts' information environment. To control for the effect of confounding concurrent events, we use a control sample of firms that had already...

This study examines how the elimination of the 20-F reconciliation requirement affects the quality of accounting data prepared by cross-listed firms that report under IFRS as promulgated by the IASB (hereafter CL IFRS firms). Using IFRS-adopting firms that are not cross-listed in the U.S....