IFRS and Firm Value_Accounting Forum.pdf (629.78 kB)
IFRS adoption and firm value: African evidence
journal contribution
posted on 2023-06-10, 03:29 authored by Henry Agyei-Boapeah, Michael Machokoto, Joseph Amankwah-Amoah, Abongeh Tunyi, Samuel FosuSamuel FosuWe 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 ForumISSN
0155-9982Publisher
Taylor & FrancisExternal DOI
Issue
3Volume
44Page range
238-261Department affiliated with
- Accounting and Finance Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2022-05-11First Open Access (FOA) Date
2022-05-11First Compliant Deposit (FCD) Date
2022-05-10Usage metrics
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