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Does eliminating the Form 20-F reconciliation from IFRS to U.S. GAAP have capital market consequences?

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dc.contributor.authorKim, Yongtaeko
dc.contributor.authorLi, Haidanko
dc.contributor.authorLi, Siqiko
dc.date.accessioned2018-07-24T02:47:07Z-
dc.date.available2018-07-24T02:47:07Z-
dc.date.created2018-07-12-
dc.date.created2018-07-12-
dc.date.issued2012-02-
dc.identifier.citationJOURNAL OF ACCOUNTING & ECONOMICS, v.53, no.1-2, pp.249 - 270-
dc.identifier.issn0165-4101-
dc.identifier.urihttp://hdl.handle.net/10203/244369-
dc.description.abstractThis paper investigates the capital market consequences of the SEC's decision to eliminate the reconciliation requirement for cross-listed companies following International Financial Reporting Standards (IFRS). We find no evidence that the elimination has a negative impact on firms' market liquidity or probability of informed trading (PIN). We also find no evidence of a significant impact on cost of equity, analyst forecasts, institutional ownership, stock price efficiency and synchronicity. Moreover, IFRS users do not increase disclosure frequency nor supply the reconciliation voluntarily. Our results do not support the argument that eliminating the reconciliation results in information loss or greater information asymmetry. (C) 2011 Elsevier B.V. All rights reserved.-
dc.languageEnglish-
dc.publisherELSEVIER SCIENCE BV-
dc.subjectUS-GAAP-
dc.subjectCROSS-LISTINGS-
dc.subjectECONOMIC CONSEQUENCES-
dc.subjectINSTITUTIONAL INVESTORS-
dc.subjectINFORMATION ASYMMETRY-
dc.subjectCORPORATE GOVERNANCE-
dc.subjectINCREASED DISCLOSURE-
dc.subjectEARNINGS MANAGEMENT-
dc.subjectEXPECTED RETURNS-
dc.subjectPOWER ANALYSIS-
dc.titleDoes eliminating the Form 20-F reconciliation from IFRS to U.S. GAAP have capital market consequences?-
dc.typeArticle-
dc.identifier.wosid000301406300013-
dc.identifier.scopusid2-s2.0-84857049264-
dc.type.rimsART-
dc.citation.volume53-
dc.citation.issue1-2-
dc.citation.beginningpage249-
dc.citation.endingpage270-
dc.citation.publicationnameJOURNAL OF ACCOUNTING & ECONOMICS-
dc.identifier.doi10.1016/j.jacceco.2011.05.001-
dc.contributor.localauthorKim, Yongtae-
dc.contributor.nonIdAuthorLi, Haidan-
dc.contributor.nonIdAuthorLi, Siqi-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorInternational Financial Reporting Standards (IFRS)-
dc.subject.keywordAuthorUS GAAP-
dc.subject.keywordAuthorForm 20-F Reconciliation-
dc.subject.keywordAuthorCross-listing-
dc.subject.keywordPlusUS-GAAP-
dc.subject.keywordPlusCROSS-LISTINGS-
dc.subject.keywordPlusECONOMIC CONSEQUENCES-
dc.subject.keywordPlusINSTITUTIONAL INVESTORS-
dc.subject.keywordPlusINFORMATION ASYMMETRY-
dc.subject.keywordPlusCORPORATE GOVERNANCE-
dc.subject.keywordPlusINCREASED DISCLOSURE-
dc.subject.keywordPlusEARNINGS MANAGEMENT-
dc.subject.keywordPlusEXPECTED RETURNS-
dc.subject.keywordPlusPOWER ANALYSIS-
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