Does International Financial Reporting Standards adoption improve or impede comparability? New evidence from Chinese dual‐class firms
研究利用中国双重股权公司同时按中国会计准则和国际财务报告准则编制报表的独特数据，发现国际财务报告准则下的信息可比性低于中国会计准则，且差异与公允价值会计及公司治理弱有关。
Abstract We analyze a unique set of Chinese firms to isolate the impact of accounting standards on financial reporting comparability and capital markets. From 2001 to 2006, these companies simultaneously maintained two sets of financial statements because of their dual‐class share structure: statements for A‐shares followed Chinese Generally Accepted Accounting Principles (GAAP), whereas those for B‐shares followed International Financial Reporting Standards (IFRS). We find a disparity in financial reporting comparability between these two accounting standards: IFRS produce less comparable information than Chinese GAAP. We also find that the disparity in comparability is related to fair value accounting, especially when corporate governance is weak.