Relevance of Differences between Net Income based on IFRS and Domestic Standards for European Firms
研究了2005年欧洲强制采用IFRS后，净利润调整对金融和非金融企业的价值相关性，发现不同国家和行业间存在差异，但IAS 39下的净利润比国内标准更相关。
Abstract Net income adjustments resulting from mandatory 2005 IFRS adoption in Europe are value relevant for financial and non‐financial firms. Differences in relevance of the aggregate adjustment and adjustments related to several IFRS standards, for financial and non‐financial firms and across country groups, suggest differences in domestic standards and institutions affect investors’ assessment of the relevance of IFRS accounting amounts. Despite these differences, except for French/German non‐financial firms, investors view net income measured using IAS 39 Financial Instruments: Recognition and Measurement as more relevant than that measured using domestic standards, which is notable because IAS 39 was highly controversial in Europe.