Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/310460 
Year of Publication: 
2011
Citation: 
[Journal:] Journal of Accounting and Management Information Systems (JAMIS) [ISSN:] 2559-6004 [Volume:] 10 [Issue:] 2 [Year:] 2011 [Pages:] 228-248
Publisher: 
Bucharest University of Economic Studies, Bucharest
Abstract: 
This article analyses the effects of mandatory International Financial Reporting Standards adoption in Poland. Our aim is to determine how market participants reacted to the new accounting standards on the year of the adoption and whether their behavior changed afterwards. We examine abnormal returns around annual consolidated report publication, and the value relevance of earnings. Event studies show that annual report publication does not produce unexpected information either before, on, or after the adoption. Value relevance estimations produce consistent earnings coefficients for the unexpected earnings model for adopters and non-adopters. Interestingly, IFRS adopters are valued higher before the adoption, but not afterwards. The paper contributes a comprehensive methodology for market reaction studies and offers a range of possible extensions.
Subjects: 
IFRS
event study
value relevance
accounting regulation
JEL: 
M41
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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