Network Effects in Countries' Adoption of IFRS
研究了2003-2008年间多国迅速采用国际财务报告准则的原因，发现感知到的网络收益（尤其是与欧盟的经济联系）推动了会计准则趋同，且小国对此反应更强。
ABSTRACT: If the differences in accounting standards across countries reflect relatively stable institutional differences, why did several countries rapidly adopt IFRS in the 2003–2008 period? We test the hypothesis that perceived network benefits from the extant worldwide adoption of IFRS can explain part of a country's shift away from local accounting standards. We find that perceived network benefits increase the degree of IFRS harmonization among countries and that smaller countries have a differentially higher response to these benefits. Further, economic ties with the European Union are a particularly important source of network effects. The results, robust to numerous alternative hypotheses and specifications, suggest IFRS adoption was self-reinforcing during the sample period, which, in turn, has implications for the consequences of IFRS adoption. Data Availability: Most data are available from public sources identified in the text; hand-collected data are available upon request.