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dc.contributor.authorHouqe, MN
dc.contributor.authorMonem, RM
dc.contributor.authorZijl, TV
dc.date.accessioned2018-10-11T05:06:35Z
dc.date.available2018-10-11T05:06:35Z
dc.date.issued2016
dc.identifier.issn1061-9518
dc.identifier.doi10.1016/j.intaccaudtax.2016.10.001
dc.identifier.urihttp://hdl.handle.net/10072/184830
dc.description.abstractThis paper investigates the economic consequences of adoption of IFRS for reporting by New Zealand listed companies as indicated by the effect on the cost of equity capital. We analyse a sample of 290 firm year observations on New Zealand listed companies over the periods 1998–2002 and 2009–2013. We find that there is a significant negative association between IFRS adoption and the cost of equity capital. These results are robust to several variations in model specification and sample composition. To the extent that higher quality accounting standards reduce the cost of equity capital, the result suggests that IFRS is a higher quality set of accounting standards than pre IFRS New Zealand GAAP. This is the first study to provide empirical evidence on the impact of adoption of IFRS on the cost of equity capital of New Zealand companies. The evidence supports the findings for European companies and thus points to the benefits potentially available to companies in countries that have yet to adopt IFRS, such as US and Japan.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofpagefrom40
dc.relation.ispartofpageto48
dc.relation.ispartofjournalJournal of International Accounting, Auditing and Taxation
dc.relation.ispartofvolume27
dc.subject.fieldofresearchAccounting, Auditing and Accountability not elsewhere classified
dc.subject.fieldofresearchAccounting, Auditing and Accountability
dc.subject.fieldofresearchOther Commerce, Management, Tourism and Services
dc.subject.fieldofresearchcode150199
dc.subject.fieldofresearchcode1501
dc.subject.fieldofresearchcode1599
dc.titleThe economic consequences of IFRS adoption: Evidence from New Zealand
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dcterms.licensehttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.description.versionAccepted Manuscript (AM)
gro.rights.copyright© 2016 Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licence (http://creativecommons.org/licenses/by-nc-nd/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, providing that the work is properly cited.
gro.hasfulltextFull Text
gro.griffith.authorMonem, Reza


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