The information content of financial report announcement : The comparison of pre- and post IFRS
| Autor: | Li-Yin Cheng, 鄭力尹 |
|---|---|
| Rok vydání: | 2014 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 102 The issue of conversion on IFRS financial report quality was be wide attention in recent years. The past studies do not have stable conclusion yet. Taiwan adopted IFRS in year 2013 and this research investigate whether the information content (abnormal return and abnormal trading volume) of financial report announcement and earnings change following adoption of IFRS. We also use the view of investor characteristic(through foreign investor ratio) to detect this change. The research sample covers all the publicly traded company in Taiwan from year 2011 (pre-IFRS) and 2013 (post IFRS). The results suggest abnormal return volatility and abnormal trading volume decreased after adoption of IFRS, but no significant relation with high foreign investor ratio companies. In earnings change part, the result shows significant positive relation in high foreign investor ratio companies. It means that IFRS earnings have more information content for foreign investors. Overall we conclude foreign investors have ability to interpret the IFRS financial report. If we want adoption of IFRS which can achieve the anticipated benefits, we need complementary measures to educate the domestic investors to develop adequate capacity to interpret and use IFRS financial report. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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