EconPapers    
Economics at your fingertips  
 

The post-adoption effects of the implementation of International Financial Reporting Standards in Greece

George Iatridis and Sotiris Rouvolis

Journal of International Accounting, Auditing and Taxation, 2010, vol. 19, issue 1, 55-65

Abstract: This study investigates the effects of the transition from Greek GAAP to IFRS on the financial results of Greek listed firms. The study also examines the factors associated with the provision of voluntary IFRS disclosures before the official period of adoption, the degree of earnings management under IFRS, and the value relevance of IFRS-based accounting numbers. The findings show that the implementation of IFRS has introduced volatility in key income statement and balance sheet measures of Greek firms. Although the effects of IFRS adoption in the first year of adoption appear to be unfavourable, perhaps due to the IFRS transition costs, firms’ financial measures improved significantly in the subsequent period. This result explains why in the official adoption period there is some evidence of earnings management, which is reduced in the subsequent period. The factors associated with providing voluntary IFRS disclosures before the official period of adoption include firm size and debt and equity financing needs. The study provides evidence that IFRS adoption leads to more value relevant accounting measures.

Keywords: International Financial Reporting Standards; Greek GAAP; Financial statement effects; Voluntary IFRS disclosures; Earnings management; Value relevance (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1061951809000305
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jiaata:v:19:y:2010:i:1:p:55-65

DOI: 10.1016/j.intaccaudtax.2009.12.004

Access Statistics for this article

Journal of International Accounting, Auditing and Taxation is currently edited by R. Larson

More articles in Journal of International Accounting, Auditing and Taxation from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-06-23
Handle: RePEc:eee:jiaata:v:19:y:2010:i:1:p:55-65