Opting for Swissness in Financial Reporting – Some Preliminary Explanations for the Shift of Accounting Standards among Large Corporations in Switzerland 2007-2013

Franck Missonier-Piera

Die Unternehmung - Swiss Journal of Business Research and Practice, 2015, vol. 69, issue 2, 222-233

Abstract: During the last decades, several Swiss listed firms have decided to switch from internationally recognized accounting standards to Swiss GAAP FER. Some preliminary explanations are provided in this paper. Based on a match-pair sample of 62 firms over the period 2007-2013, the univariate signed tests exhibit that firms switching to their local GAAP are on average smaller, generate less profitability, have less investment opportunities and are less exposed internationally than IFRS firms. Besides, further analysis shows that the perceived quality of the firms’ financial statements that switch to Swiss standards is not impacted significantly (when measured by analyst forecast errors). Lastly, in the year of the accounting change, audit fees decreased for changing firms. These results may suggest an economically rational choice made by switching firms.

Date: 2015
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DOI: 10.5771/0042-059X-2015-2-222

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Die Unternehmung - Swiss Journal of Business Research and Practice is currently edited by Prof. Dr. Artur Baldauf, Universität Bern, Prof. Dr. Manfred Bruhn, Universität Basel, Prof. Dr. Pascal Gantenbein, Universität Basel (geschäftsführend), Prof. Dr. Markus Gmür, Universität Fribourg, Prof. Dr. Klaus Möller, Universität St. Gallen, Prof. Dr. Günter Müller-Stewens, Universität St. Gallen, Prof. Dr. Dr. h.c. Margit Osterloh, Universität Zürich, Prof. Dr. Dieter Pfaff, Universität Zürich and Prof. Dr. Martin Wallmeier, Universität Fribourg

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