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IFRS adoption and firm value: African evidence

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posted on 2023-06-10, 03:29 authored by Henry Agyei-Boapeah, Michael Machokoto, Joseph Amankwah-Amoah, Abongeh Tunyi, Samuel FosuSamuel Fosu
We examine the impact of the adoption of International Financial Reporting Standards (IFRS) on firm value using a sample of African listed firms selected over the 2000–2015 period. Our results show that the adoption of IFRS positively impacts firm value. We further find that the impact of IFRS adoption on firm value is more pronounced in environments where there is a greater commitment to the rule of law. Moreover, the increase in firm value is more pronounced for firms with a higher degree of financial constraints. Finally, additional results suggest that the benefits of fully implementing IFRS are higher than those arising from partial/modified adoption. Our results are robust to controlling for other factors that affect firm value and to alternative sampling procedures.

History

Publication status

  • Published

File Version

  • Accepted version

Journal

Accounting Forum

ISSN

0155-9982

Publisher

Taylor & Francis

Issue

3

Volume

44

Page range

238-261

Department affiliated with

  • Accounting and Finance Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2022-05-11

First Open Access (FOA) Date

2022-05-11

First Compliant Deposit (FCD) Date

2022-05-10

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