Mandatory IFRS adoption and financial analysts’ information environment: Evidence from Korean market

Title
Mandatory IFRS adoption and financial analysts’ information environment: Evidence from Korean market
Author
김누리
Keywords
Accuracy; International Financial Reporting Standards; Economic theory; Regulation; Financial analysis
Issue Date
2016-10
Publisher
The Clute Institute
Citation
Journal of Applied Business Research, v. 32, No. 5, Page. 1387-1404
Abstract
The paper examines the effects of the mandatory adoption of International Financial Reporting Standards (IFRS) on financial analysts’ information environment, specifically on analysts forecast accuracy in the Korean market. We find that financial analysts’ forecast accuracy improves after the mandatory IFRS adoption. We further investigate the source of observed accuracy enhancements and find that the improved forecast accuracy is attributable to the increased precision in analysts’ information sets for KOSPI firms and increased opportunity for earnings management for KOSDAQ firms. We also find that the analyst coverage in Korean market is reduced after mandatory IFRS adoption.
URI
https://search.proquest.com/docview/1923980355/abstract/199C216559B54971PQ/1?accountid=11283http://repository.hanyang.ac.kr/handle/20.500.11754/70355
ISSN
0892-7626
DOI
10.19030/jabr.v32i5.9767
Appears in Collections:
COLLEGE OF BUSINESS AND ECONOMICS[E](경상대학) > BUSINESS ADMINISTRATION(경영학부) > Articles
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