Value relevance of financial statements in convergence with IFRS: analyses in the abnormal pricing error method

TsingZai C. Wu, Wan Ting Hsieh, Chun Chan Yu and Hsin Ti Chu

Applied Economics Letters, 2017, vol. 24, issue 7, 490-493

Abstract: We use an econometrically distinct method to test whether the value relevance of financial statements, especially during convergence with International Financial Reporting Standards (IFRS), has improved in Taiwanese firms in 1990–2011. In contrast to a prior study, our results show that given transformation between two high-quality accounting standards, convergence with IFRS will not lead to further increases in value relevance of financial statements. Our findings may provide implications for international standard-setters and regulators, especially countries undecided about adopting or converging with IFRS.

Date: 2017
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DOI: 10.1080/13504851.2016.1205714

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