Effect of the Application of IFRS 15: Evidence from Bulgaria

Ani Stoykova

Economic Studies journal, 2021, issue 3, 174-188

Abstract: IFRS 15 Revenue from Contracts with Customers is a completely new standard for recognition and evaluation of enterprises’ revenue regardless of the industry and type of revenue. The new standard completely replaces current standards related to recognition revenue. The aim of this study is to determine whether the adoption of IFRS 15 has affected Bulgarian companies’ revenue and stock prices or not. The period under examination is from 2016 to 2019. The analyzed companies are 16 separate corporate entities from various sectors in Bulgaria. The unit root test, descriptive statistics and paired sample t-test are applied. The results show that IFRS 15 has an influence on the stock prices of the Bulgarian listed companies of the following sectors: manufacturing, wholesale and retail trade, accommodation and food service activities, transportation and storage, real estate activities, construction and the value of stock prices of these companies decrease after standard adoption. IFRS 15 does not have a significant effect on the revenue of the analyzed Bulgarian companies.

JEL-codes: C01 C49 G10 M40 M41 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2021:i:3:p:174-188

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