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Hail, Procrustes! Harmonized Accounting Standards as a Procrustean BedJack Douglas StecherCarnegie Mellon University - David A. Tepper School of Business Jeroen SuijsTilburg University - Tilburg School of Economics and Management July 14, 2012 Journal of Accounting and Public Policy, Vol. 31, No. 4, 2012 Abstract: This article finds that the use of a harmonized accounting standard, such as the International Financial Reporting Standards, increases the information available to markets only if institutional differences across countries using the harmonized standard are insignificant. In all other cases, harmonization of reporting standards destroys information rather than increasing it. This article also contributes to methodology, introducing techniques for studying non-partitional information structures.
Keywords: IFRS, accounting harmonization, non-partitional information structures, convergence JEL Classification: M41, G15, D83, C65 Accepted Paper SeriesDate posted: January 11, 2007 ; Last revised: July 25, 2012Suggested CitationContact Information
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