A Study of Market Reaction to the Adoption of IFRS in Taiwan

Autor:	Liu-ChunLin, 林柳君
Rok vydání:	2012
Druh dokumentu:	學位論文 ; thesis
Popis:	100 The purpose of this study is to investigate the stock market reactions in Taiwan capital market to the 8 events associated with the adoption of International Financial Reporting Standards (IFRS) in Taiwan, and to investigate the relationship between firm characteristics and abnormal stock returns during the event period. The results show that the stock market reacted to the IFRS-adoption events as good news, generally resulting in positive abnormal returns. In addition, the results also show that an incrementally positive reaction for firms with lower pre-adoption financial reporting quality, higher pre-adoption information asymmetry, and for firms with higher capital needs. Overall, the results of this study suggest that investors expect benefits to the adoption of IFRS in Taiwan. These benefits include that adopting IFRS will increase the financial reporting quality, decrease the information asymmetry, and will reduce the cost of equity.
Databáze:	Networked Digital Library of Theses & Dissertations
Externí odkaz:	http://ndltd.ncl.edu.tw/handle/14942729768044904324 Zobrazit plný text záznamu