The Experts below are selected from a list of 68148 Experts worldwide ranked by ideXlab platform
Danqing Young - One of the best experts on this subject based on the ideXlab platform.
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does mandatory ifrs adoption improve information Comparability
2012Co-Authors: Rita W Y Yip, Danqing YoungAbstract:ABSTRACT: This study examines whether the mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union significantly improves information Comparability in 17 European countries. We employ three proxies—the similarity of accounting functions that translate economic events into accounting data, the degree of information transfer, and the similarity of the information content of earnings and of the book value of equity—to measure information Comparability. Our results suggest that mandatory IFRS adoption improves cross-country information Comparability by making similar things look more alike without making different things look less different. Our results also suggest that both accounting convergence and higher quality information under IFRS are the likely drivers of the Comparability improvement. In addition, we find some evidence that cross-country Comparability improvement is affected by firms' institutional environment. Data Availability: Data are available from commerc...
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does mandatory ifrs adoption improve information Comparability
2012Co-Authors: Rita W Y Yip, Danqing YoungAbstract:This study examines whether the mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union significantly improves information Comparability in 17 European countries. We employ three proxies – the similarity of accounting functions, the degree of information transfer, and the similarity of the information content of earnings and of the book value of equity – to measure information Comparability. Our results suggest that mandatory IFRS adoption improves cross-country information Comparability by making similar things look more alike without making different things look less different. Our results also suggest that both accounting convergence and higher quality information under IFRS are the likely drivers of the Comparability improvement. In addition, we find some evidence that cross-country Comparability improvement is affected by firms’ institutional environment.
Klaus Jansen - One of the best experts on this subject based on the ideXlab platform.
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the mutual exclusion scheduling problem for permutation and Comparability graphs
2003Co-Authors: Klaus JansenAbstract:In this paper, we consider the mutual exclusion scheduling problem for Comparability graphs. Given an undirected graph G and a fixed constant m, the problem is to find a minimum coloring of G such that each color is used at most m times. The complexity of this problem for Comparability graphs was mentioned as an open problem by Mohring [Problem 9.10, in: I. Rival (Ed.), Graphs and Orders, Reidel, Dordrecht, 1985, p. 583] and for permutation graphs (a subclass of Comparability graphs) as an open problem by Lonc [On complexity of some chain and antichain partition problem, in: G. Schmidt, R. Berghammer (Eds.), Graph Theoretical Concepts in Computer Science, WG 91, Lecture Notes in Computer Science, vol. 570, 1999, pp. 97-104]. We prove that this problem is already NP-complete for permutation graphs and for each fixed constant m ≥ 6.
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the mutual exclusion scheduling problem for permutation and Comparability graphs
1998Co-Authors: Klaus JansenAbstract:In this paper, we consider the mutual exclusion scheduling problem for Comparability graphs. Given an undirected graph G and a fixed constant m, the problem is to find a minimum coloring of G such that each color is used at most m times. The complexity of this problem for Comparability graphs was mentioned as an open problem by Mohring (1985) and for permutation graphs (a subclass of Comparability graphs) as an open problem by Lonc (1991). We prove that this problem is already NP-complete for permutation graphs and for each fixed constant m > 6.
Rita W Y Yip - One of the best experts on this subject based on the ideXlab platform.
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does mandatory ifrs adoption improve information Comparability
2012Co-Authors: Rita W Y Yip, Danqing YoungAbstract:ABSTRACT: This study examines whether the mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union significantly improves information Comparability in 17 European countries. We employ three proxies—the similarity of accounting functions that translate economic events into accounting data, the degree of information transfer, and the similarity of the information content of earnings and of the book value of equity—to measure information Comparability. Our results suggest that mandatory IFRS adoption improves cross-country information Comparability by making similar things look more alike without making different things look less different. Our results also suggest that both accounting convergence and higher quality information under IFRS are the likely drivers of the Comparability improvement. In addition, we find some evidence that cross-country Comparability improvement is affected by firms' institutional environment. Data Availability: Data are available from commerc...
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does mandatory ifrs adoption improve information Comparability
2012Co-Authors: Rita W Y Yip, Danqing YoungAbstract:This study examines whether the mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union significantly improves information Comparability in 17 European countries. We employ three proxies – the similarity of accounting functions, the degree of information transfer, and the similarity of the information content of earnings and of the book value of equity – to measure information Comparability. Our results suggest that mandatory IFRS adoption improves cross-country information Comparability by making similar things look more alike without making different things look less different. Our results also suggest that both accounting convergence and higher quality information under IFRS are the likely drivers of the Comparability improvement. In addition, we find some evidence that cross-country Comparability improvement is affected by firms’ institutional environment.
David A Ziebart - One of the best experts on this subject based on the ideXlab platform.
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financial statement Comparability and the informativeness of stock prices about future earnings
2019Co-Authors: Jonghag Choi, Sunhwa Choi, Linda A Myers, David A ZiebartAbstract:We find that financial statement Comparability enhances the ability of current period returns to reflect future earnings, as measured by the future earnings response coefficient (FERC). This suggests that Comparability improves the informativeness of stock prices and allows investors to better anticipate future firm performance. In addition, using both the FERC and stock price synchronicity tests, we find that Comparability increases the amount of firm‐specific information (rather than market/industry‐level information) reflected in stock prices. Analysts play an important role in improving stock price informativeness by producing more firm‐specific information when Comparability is high. These findings suggest that Comparability lowers the costs of gathering and processing firm‐specific information. This article is protected by copyright. All rights reserved.
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financial statement Comparability and the informativeness of stock prices about future earnings
2017Co-Authors: Jonghag Choi, Sunhwa Choi, Linda A Myers, David A ZiebartAbstract:We find that financial statement Comparability enhances the ability of current period returns to reflect future earnings, as measured by the future earnings response coefficient (FERC). Thus, Comparability improves the informativeness of stock prices and allows investors to better anticipate future firm performance. In addition, using both the FERC and stock price synchronicity tests, we find that Comparability increases the amount of firm-specific information (rather than market / industry-level information) reflected in stock prices. Moreover, analysts play an important role in improving the ability of stock prices to incorporate firm-specific information because they produce more firm-specific information when Comparability is higher.
Ioanna Serafeim - One of the best experts on this subject based on the ideXlab platform.
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does mandatory ifrs adoption improve the information environment
2013Co-Authors: Joanne Horton, Georgios Serafeim, Ioanna SerafeimAbstract:More than 120 countries require or permit the use of International Financial Reporting Standards (IFRS) by publicly listed companies on the basis of higher information quality and accounting Comparability from IFRS application. However, the empirical evidence about these presumed benefits is often conflicting and fails to distinguish between information quality and Comparability. In this paper we examine the effect of mandatory IFRS adoption on firms’ information environment. We find that after mandatory IFRS adoption consensus forecast errors decrease for firms that mandatorily adopt IFRS relative to forecast errors of other firms. We also find decreasing forecast errors for voluntary adopters, but this effect is smaller and not robust. Moreover, we show that the magnitude of the forecast error decrease is associated with the firm-specific differences between local GAAP and IFRS. This finding suggests that it is IFRS adoption rather than a correlated unobservable factor that is causing forecast errors to decrease. Exploiting individual analyst level data and isolating settings where analysts would benefit more from either increased Comparability or higher quality information, we document that the improvement in the information environment is driven both by information and Comparability effects. These results suggest that mandatory IFRS adoption has improved the quality of information intermediation in capital markets, and as a result firms’ information environment, by increasing both information quality and accounting Comparability.
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does mandatory ifrs adoption improve the information environment
2013Co-Authors: Joanne Horton, Georgios Serafeim, Ioanna SerafeimAbstract:More than 120 countries require or permit the use of International Financial Reporting Standards (‘IFRS’) by publicly listed companies on the basis of higher information quality and accounting Comparability from IFRS application. However, the empirical evidence about these presumed benefits are often conflicting and fail to separate between information quality and Comparability. In this paper we examine the effect of mandatory IFRS adoption on firms’ information environment. We find that after mandatory IFRS adoption consensus forecast errors decrease for firms that mandatorily adopt IFRS relative to forecast errors of other firms. We also find decreasing forecast errors for voluntary adopters, but this effect is smaller and not robust. Moreover, we show that the magnitude of the forecast errors decrease is associated with the firm-specific differences between local GAAP and IFRS. This finding suggests that it is IFRS adoption rather than a correlated unobservable factor that is causing forecast errors to decrease. Exploiting individual analyst level data and isolating settings where analysts would benefit more from either increased Comparability or higher quality information, we document that the improvement in the information environment is driven both by information and Comparability effects. These results suggest that mandatory IFRS adoption has improved the quality of information intermediation in capital markets and as a result firms’ information environment by increasing both information quality and accounting Comparability.