Mandatory IFRS adoption: friend or foe of M&As? International evidence

Rita Wing Yue Yip, Beibei Liu and Danqing Young

Asia-Pacific Journal of Accounting & Economics, 2022, vol. 29, issue 1, 233-254

Abstract: Using a sample of M&As from 19 countries, we identify the effects of mandatory IFRS adoption on M&As by analyzing changes in frequency and in market-perceived benefits for mandatory IFRS adopters (from treatment countries) against non-IFRS adopters (from control countries). Using difference-in-differences analyses, we find (1) frequency with which a treatment firm acquires a foreign (local) firm increases (decreases) in the post-IFRS adoption period; (2) acquirers’ M&A synergies increase for cross-border M&As in treatment countries between public acquirers and public targets; and (3) acquirers’ synergies decrease for within-country M&As in treatment countries between public acquirers and private targets.

Date: 2022
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DOI: 10.1080/16081625.2019.1673184

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Asia-Pacific Journal of Accounting & Economics is currently edited by Yin-Wong Cheung, Hong Hwang, Jeong-Bon Kim, Shu-Hsing Li and Suresh Radhakrishnan

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