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      KCI등재 SCOPUS

      The Impact of K-IFRS Adoption on the Value Relevance of Accounting Information

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      https://www.riss.kr/link?id=A103596989

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      다국어 초록 (Multilingual Abstract)

      This study investigates the impact that IFRS adoption in Korea has had on the value relevance of accounting information. The hypothesis is that under the new set of accounting standards (IFRS-based accounting standards named K-IFRS in Korea), the quality of book value and earnings reported by these companies is relatively higher. To this end, the quality of accounting information proxy is studied using the value relevance of book value and earnings.
      10,720 firm-year observations are obtained for a five-year period before and a five-year period after the adoption of K-IFRS, and the results indicate that the adoption of K-IFRS is related to a higher reported book value and earnings quality. The results show that the value relevance of the firms’ book value and earnings is significantly higher after the adoption of K-IFRS.
      This study reinforces the notion that introducing IFRS improves the usefulness of accounting information and further indicates that IFRS adoption can ensure consistency in Korea of international accounting standards to improve the credibility of accounting information. As such, this research has directly addressed the impact of IFRS adoption on the quality of financial reporting in an emerging market.
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      This study investigates the impact that IFRS adoption in Korea has had on the value relevance of accounting information. The hypothesis is that under the new set of accounting standards (IFRS-based accounting standards named K-IFRS in Korea), the qual...

      This study investigates the impact that IFRS adoption in Korea has had on the value relevance of accounting information. The hypothesis is that under the new set of accounting standards (IFRS-based accounting standards named K-IFRS in Korea), the quality of book value and earnings reported by these companies is relatively higher. To this end, the quality of accounting information proxy is studied using the value relevance of book value and earnings.
      10,720 firm-year observations are obtained for a five-year period before and a five-year period after the adoption of K-IFRS, and the results indicate that the adoption of K-IFRS is related to a higher reported book value and earnings quality. The results show that the value relevance of the firms’ book value and earnings is significantly higher after the adoption of K-IFRS.
      This study reinforces the notion that introducing IFRS improves the usefulness of accounting information and further indicates that IFRS adoption can ensure consistency in Korea of international accounting standards to improve the credibility of accounting information. As such, this research has directly addressed the impact of IFRS adoption on the quality of financial reporting in an emerging market.

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      참고문헌 (Reference)

      1 Wang, S., "Timing equity issuance in response to mandatory accounting standards change in Australia and the European Union" Queen’s University 2008

      2 Barth, M. E., "The relevance of the value relevance literature for financial accounting standard setting: Another view" 31 (31): 77-104, 2001

      3 Goodwin, J., "The effects of International Financial Reporting Standards on the accounts and accounting quality of Australian firms: A retrospective study" 4 (4): 89-119, 2008

      4 Ball, R., "The effect of international institutional factors of properties of accounting earnings" 29 : 1-51, 2000

      5 Barth, M., "Market rewards associated with patterns of increasing earnings" 37 (37): 387-413, 1999

      6 Horton, J., "Market reaction and valuation of IFRS reconciliation adjustments: First evidence from UK" 15 (15): 725-751, 2010

      7 Daske, H., "Mandatory IFRS reporting around the world: Early evidence on the economic consequences" 46 : 1085-1142, 2008

      8 Christensen, H. B., "Incentives or standards: What determines accounting quality changes around IFRS adoption?" University of Chicago and University of Manchester 2008

      9 Cheng, C. S. A., "Impact of accounting choices on firm valuation and earnings quality" 6 (6): 419-441, 2007

      10 Korea Accounting Standards Board, "IFRS adoption in Korea: 5 years’ experience and lessons" 2016

      1 Wang, S., "Timing equity issuance in response to mandatory accounting standards change in Australia and the European Union" Queen’s University 2008

      2 Barth, M. E., "The relevance of the value relevance literature for financial accounting standard setting: Another view" 31 (31): 77-104, 2001

      3 Goodwin, J., "The effects of International Financial Reporting Standards on the accounts and accounting quality of Australian firms: A retrospective study" 4 (4): 89-119, 2008

      4 Ball, R., "The effect of international institutional factors of properties of accounting earnings" 29 : 1-51, 2000

      5 Barth, M., "Market rewards associated with patterns of increasing earnings" 37 (37): 387-413, 1999

      6 Horton, J., "Market reaction and valuation of IFRS reconciliation adjustments: First evidence from UK" 15 (15): 725-751, 2010

      7 Daske, H., "Mandatory IFRS reporting around the world: Early evidence on the economic consequences" 46 : 1085-1142, 2008

      8 Christensen, H. B., "Incentives or standards: What determines accounting quality changes around IFRS adoption?" University of Chicago and University of Manchester 2008

      9 Cheng, C. S. A., "Impact of accounting choices on firm valuation and earnings quality" 6 (6): 419-441, 2007

      10 Korea Accounting Standards Board, "IFRS adoption in Korea: 5 years’ experience and lessons" 2016

      11 Han, B. H., "IFRS adoption and capital globalization in Korea" KASB 2016

      12 Schipper, K., "How can we measure the costs and benefits of changes in corporate reporting regulation?" Duke University 2009

      13 Arce, M., "Empirical evidence of the effect of European accounting differences on the stock market valuation of earnings and book value" 11 (11): 573-599, 2002

      14 Ohlson, J., "Earnings, book value and dividends in equity valuation" 11 (11): 661-687, 1995

      15 Land, M., "Earnings management and cross-listing: Are reconciled earnings comparable to US earnings?" 42 (42): 255-283, 2006

      16 Kim, K. Y., "Costs and benefits of IFRS adoption in Korea; Preparers’ perspectives" KASB 2015

      17 Francis, J., "Cost of capital and earnings attributes" 79 : 967-1010, 2004

      18 Bartov, E., "Comparative value relevance among German, U.S., and International Accounting Standards: A German stock market perspective" 20 (20): 95-119, 2005

      19 Ahmed, K., "An empirical investigation of earnings restatements by Australian firms" 47 : 1-22, 2007

      20 Ohlson, J., "Accounting data and value: The basic results" 26 (26): 231-259, 2009

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      학술지 이력

      학술지 이력
      연월일 이력구분 이력상세 등재구분
      2023 평가예정 해외DB학술지평가 신청대상 (해외등재 학술지 평가)
      2020-01-01 평가 등재학술지 유지 (해외등재 학술지 평가) KCI등재
      2016-03-01 평가 SCOPUS 등재 (기타) KCI등재
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      학술지 인용정보

      학술지 인용정보
      기준연도 WOS-KCI 통합IF(2년) KCIF(2년) KCIF(3년)
      2016 0 0 0
      KCIF(4년) KCIF(5년) 중심성지수(3년) 즉시성지수
      0.02 0.01 0 0
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