Companies throughout the world use different methods for reporting their financial information to capital market investors and regulators. These different methods have caused financial reporting of statements to become less transparent, has increased adjustment errors and forecasting errors, and has reduced investor confidence. As a result, the International Accounting Standards Board created International Financial Reporting Standards (IFRS) to establish a global standard. Currently, 140 jurisdictions worldwide have implemented IFRS. The purpose of this study was to examine the effectiveness of IFRS on 248 Canadian companies and to analyze whether the 2011 implementation of IFRS affected corporate stock prices, key financial measurements of companies, and industry sectors. Arrow's social choice theory and general equilibrium analysis provided the theoretical framework for this quantitative investigation. Two 1-year time periods, 2009-2010 (the year before IFRS was implemented) and 2011-2012 (the year after IFRS was implemented), were analyzed using secondary data. A multiple regression model was used to examine the impact of IFRS implementation on price-to-earnings ratio, price-to-sales ratio, and price-to-cash flow ratio of the 248 Canadian companies. Findings indicate that IFRS led to an overall improvement in financial reporting by Canadian companies, which suggests IFRS's effectiveness. Mandating IFRS worldwide may facilitate comparisons of corporate financial information, reduce costs, reduce investor fatigue, improve adjustment errors and forecasting errors, and provide capital market participants the confidence to make valued investment decisions, leading to positive social change.

Univ., Diss.--Marburg, 2004.

Univ., Diss. u.d.T.: Kammel, Armin J.: The law of international banking associations and their usage of international accounting systems--Graz, 2004.

Univ., Diss.--Münster (Westfalen), 2001.

Univ., Diss.--Mainz, 2001.

Univ., Diss. u.d.T.: Hendler, Matthias: Analyse der Abbildung des Erwerbs und der Veräußerung von Anteilen an Tochterunternehmen im Konzernabschluß nach der Interessentheorie und nach der Einheitstheorie vor dem Hintergrund des Rechnungslegungsziels des IASB--Münster, 2002.

Thesis (doctoral)--Universiẗat Marburg, 2004. / Includes bibliographical references (p. 225-243).

Les divergences entre comptabilité et fiscalité ont largement contribué à obscurcir la véritable nature de leur relation. Pourtant l’article 38 quater de l’annexe III au Code Général des Impôts institue une relation complémentaire entre les deux disciplines. En réalité, cette relation complémentaire n’est qu’apparente car dans la plupart des cas de divergences, la fiscalité semble instaurer une domination arbitraire sur la comptabilité. Cette situation, que l’on peut qualifier de compromis s’est inversée au profit de la comptabilité depuis l’avènement des normes comptables internationales dont les règles, particulières en plusieurs points, ont permis au droit comptable un développement sans précédent, ce qui permet de qualifier la relation entre comptabilité et fiscalité de relation de compromis. Se faisant, les normes comptables internationales ont renforcé la tendance qui se dessine dans les sociétés contemporaines : le passage de l’ère juridique à l’ère économique. Les relations entre comptabilité et fiscalité ne sont que le témoin de cette évolution. Les principes de juste valeur et de substance économique au-delà de la forme juridique ont mis à l’ordre du jour des débats doctrinaux classiques tels que l’autonomie du droit fiscal par rapport au droit comptable et le liens qu’entretiennent ces disciplines avec d’autres, qu’elles soient juridiques (droit civil, droit commercial) ou non-juridiques (consolidation, finance). La nouvelle définition des actifs porte la marque de cette interdisciplinarité. Pourtant le système fiscal français n’est pas encore prêt à accueillir ces normes dans leur intégralité. Leur transposition totale dans le Plan Comptable Général entrainerait un abandon du système fiscal actuel pour une évolution vers les systèmes fiscaux anglo-saxons tout en entraînant des difficultés sources d’insécurité pour le droit fiscal. / Oppositions between accounting and taxation have led into some difficulties regarding the qualification of the real relation between accounting and taxation in France. Article 38 of the FTC seems to impose a complementary relation between accouting and taxation. In fact, this complementary relation is not true, since Tax rules often have an influence on accounting rules when they are in opposition. This particular situation can be qualified as a compromise between Accounting and Tax rules. Since the introduction of International Accounting Standards rules in The French Accounting System, the compromise between accounting and Taxation seems to benefit from the accounting rules. It does exit a huge influence of accounting on tax rules: accounting rules are becoming more relevant than in the past. By the way, the International Accounting Standards have reinforced the trend that is emerging in contemporary societies. This trend is the passage from a legal area to an economic area. The relationship between accounting and taxation is the witness of this evolution. Principles of fair value and substance over form have uploaded the debate over the relationship between Tax and Accounting and how they interact with other disciplines such as civil law, commercial law, finance and accounting. The new definition of Assets due to the IFRS influence on tax is the proof of the connection existing between the different disciplines. The French tax system is not ready yet to accept the full version of IFRS. Their full implementation would lead into an unsecured tax law system.

xii, 84 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / In this dissertation, I investigate how cross-country differences in regulatory environments affect the value and distribution of gains in cross-border acquisitions. I focus on how pre-acquisition strategies to reduce the valuation discount arising from weak regulatory environments affect the value and distribution of gains between acquiring and target firms. The two specific strategies I examine are cross-listing and voluntarily adopting International Financial Reporting Standards (IFRS). I compare the value and distribution of synergy gains for target firms from weak regulatory environments that have cross-listed or adopted IFRS (i.e., "strategic firms") to (1) target firms in similar countries that have not done so (i.e., "non-strategic firms") and (2) target firms in strong regulatory environment countries. For the first group, I expect lower total synergy gains and merger premia in acquisitions involving strategic target firms. However, I expect higher total valuation gains (i.e., the merger premium plus the increase in value from the strategy) for strategic firms. For the second comparison group, I expect higher total synergy gains and merger premia in acquisitions involving strategic firms relative to firms from strong regulatory environments. I test my predictions on a sample of cross-border acquisitions completed in 26 countries between 1995-2007. In acquisitions involving target firms from weak regulatory environments, I find no evidence that either the total synergy gain or merger premium are smaller for strategic firms. In fact, I find some evidence that the total synergy gains are higher for strategic firms relative to non-strategic firms. I find some evidence of higher total valuation gains for cross-listed firms, consistent with my hypothesis. For the second comparison group, I find no evidence that either the total synergy gain or merger premium are higher for strategic firms. By examining cross-border acquisitions, my research provides evidence on an increasingly important and economically significant type of foreign direct investment. I relate literature investigating the determinants and distribution of merger synergies to literature analyzing methods to eliminate cross-country valuation discounts. Therefore, my research makes an important contribution by providing insights beyond identifying which party captures synergy gains in cross-border acquisitions. / Committee in charge: David Guenther, Chairperson, Accounting; Steven Matsunaga, Member, Accounting; Linda Krull, Member, Accounting; Bruce Blonigen, Outside Member, Economics

Made available in DSpace on 2018-08-01T23:39:46Z (GMT). No. of bitstreams: 1 tese_11380_Dissertacao Magno.pdf: 769515 bytes, checksum: 4894ca354383e39a308a37fdadc9986b (MD5) Previous issue date: 2017-09-12 / O objetivo deste trabalho é analisar como a convergência às normas internacionais (IFRS), no Brasil, afeta a relevância das informações contábeis, avaliada por meio do modelo de Collins, Maydew e Weiss (1997). Foram construídas duas amostras, com e sem tratamento de valores discrepantes e exclusão de patrimônio líquido negativo, não probabilísticas listadas na Bolsa de Valores do São Paulo. As amostras foram formadas por dados anuais no período de 2005 a 2014. Os métodos adotados foram MQO, normalmente utilizado na estimação dos parâmetros dos modelos lineares de value relevance, e regressão quantílica, considerando as distribuições das variáveis analisadas, a presença de valores discrepantes e o tamanho da amostra. Os resultados das regressões quantílicas indicam que: (i) a adoção das IFRS no Brasil impactou a capacidade associativa do lucro contábil em relação ao preço das ações; (ii) a adoção das IFRS no Brasil impactou a capacidade associativa do patrimônio líquido em relação ao preço das ações; (iii) e é possível afirmar que a relevância da adoção das IFRS varia de acordo com o percentil dos preços das ações das empresas. Tais achados sugerem que os tratamentos para valores discrepantes e a exclusão de patrimônio líquido não eliminam totalmente os efeitos de valores discrepantes combinado com a falta de normalidade das variáveis influenciam as estimativas de modelos lineares. A regressão quantílica mostrou-se mais eficiente e com menor probabilidade de erros de estimação do que os métodos de estimação tradicionais (MQO e MV). / The objective of this research is to analyze how convergence to international standards (IFRS) in Brazil affects the relevance of the accounting information, evaluated through the model of Collins, Maydew and Weiss (1997). Two samples were constructed, with and without treatment of discrepant values and exclusion of negative, non-probabilistic equity listed on the São Paulo Stock Exchange. The samples were formed by annual data from 2005 to 2014. The methods adopted were MQO, usually used in the estimation of the parameters of the linear value relevance models, and quantile regression, considering the distributions of the variables analyzed, the presence of discrepant values and the sample size. The results of the quantile regressions indicate that: (i) the adoption of IFRS in Brazil impacted the associative capacity of accounting profit in relation to the share price; (ii) the adoption of IFRS in Brazil impacted the associative capacity of shareholders’ equity in relation to the share price; (iii) and it is possible to affirm that the relevance of the adoption of IFRS varies according to the percentile of company stock prices. Such findings suggest that treatments for discrepant values and the exclusion of net worth do not totally eliminate the effects of discrepant values combined with the lack of normality of the variables influence the estimates of linear models. The quantile regression was more efficient and less likely to estimate errors than the traditional estimation methods (OLS and MV).