和公司层面影响国际财务报告准则应用效果之因素分析-北京交通大学.pdfVIP

国际财务报告准则应用效果的因素分析 【摘要】：随着20 国峰会上各国首脑就在全球采用单一的高质量会计准则这一共识的达成，在 全球范围内采用IFRS 已是毋庸置疑。因此，单纯检验IFRS 应用的市场效应是积极还是消极已 意义不大。目前摆在世界各国面前的首要任务是研究如何才能使IFRS 的应用收益最大化。因 此本文从国家层面分别探讨了影响IFRS 应用效果的一些重要因素。具体地，本文探讨了IFRS 的采用模式、采用国际财务报告准则的意愿程度、本土会计准则与IFRS 的差异、以及IFRS 的 贯彻和执行对IFRS 应用效果的影响。以资本市场流动性为应用效果的检验维度，本文研究发 现，部分修订IFRS ，本土会计准则与IFRS 的差异越小，IFRS 的应用收益越大；采用IFRS 的 意愿越强，IFRS 执行得越好，首次强制采用IFRS 收益越大。 【关键词】：国际财务报告准则; 应用效果；资本市场流动性；采用模式 Country-Level Factors and Market Effects of Mandatory IFRS Adoption Abstract: Leaders of G20 countries have agreed on adopting a single set of accounting standards during the past global summit. So it seems certain that countries should adopt IFRS if they currently don’t. Therefore, currently the great challenge is to discover how to maximize the benefit of IFRS adoption rather than to examine whether the market effects of IFRS adoption are positive. Here we investigate the drivers IFRS adoption benefits and losses from two tiers. One is from the country-level, and the other is from the firm-level. In terms of country-level, the factors that we analyze include IFRS adopting mode, differences between domestic GAAP and IFRS, the enforcement and implementation of IFRS, and the legal and political system. Using market liquidity as the proxy of market effects of mandatory IFRS adoption, we find that the IFRS modification is significantly and positively related with IFRS benefits. The smaller differences between domestic GAAPs and IFRS, the larger IFRS benefits. In addition, we find that more willingness to adopt are better enforcement, are significantly and positively related with IFRS benefits of first-time mandatory adopters. Key words：International Financial Reporting Standards; Market Effects; Market Liquidity; Adoption Mode 1 引言 随着资本市场国际化程度的不断加深，在全球范围内通行一套会计语言的需求已经愈来愈 迫切。为了提高各国之间会计信息的可比性进而促进资本在全球资本市场上的最优配置，国际 会计准则理事会（IAS