The value relevance of financial statements is of great significance to investors and standard setters. The present research examines whether accounting comparability among industry peers enhances the value relevance of earnings and book value. This is an important question because both the...

This study examines the impact of accounting standard adoption complexity on financial reporting quality and market outcomes. We capture adoption complexity by uniquely using adoption-related disclosures required under Staff Accounting Bulletin (SAB) 74. We examine the adoption outcomes of the...

We find that they are complements. We subject our sample of 15 European Union (EU) countries to two regulatory changes: (i) the adoption of the common euro currency in 1999 that resulted in a convergence in reporting incentives and (ii) the subsequent adoption of International Financial...

Li, Siciliano, and, Venkatachalam (hereafter LSV) propose a two-stage approach to studying the effects of the adoption of the International Financial Reporting Standards (IFRS) on economic outcomes. The key innovation of their paper is that it links the economic outcomes effect to a particular...

This paper examines the economic consequences of mandatory IFRS reporting around the world. We analyze the effects on market liquidity, cost of capital and Tobin's q in 26 countries using a large sample of firms that are mandated to adopt IFRS. We find that, on average, market liquidity...

This paper examines the economic consequences of mandatory IFRS reporting around the world. We analyze the effects on market liquidity, cost of capital and Tobin's q in 26 countries using a large sample of firms that are mandated to adopt IFRS. We find that, on average, market liquidity...

This study examines liquidity and cost of capital effects around voluntary and mandatory IAS/IFRS adoptions. In contrast to prior work, we focus on the firm-level heterogeneity in the economic consequences, recognizing that firms have considerable discretion in how they implement the new...