in which the firm resides. Landsman, Maydew and Thornock The information content of annual Sample size: The final sample Comparison of information Findings from country-level and (2011) earnings announcements and comprises 21703 firm- year content of IFRS and non-IFRS firm-level estimations indicate mandatory adoption of IFRS. earnings announcements for 6067 firms in the pre- and that firms in IFRS adopting unique firms across 27 countries. periods on country level countries experienced a greater as well as on firm level. increase in abnormal return volatility and abnormal trading volume than firms from non-IFRS adopting countries. Kim and Li (2010) Mandatory IFRS adoption and Sample size: 31,785 firm-year Examine the impact of widespread Results suggest that after intra-industry information observations from 33 countries mandatory IFRS adoption in 2005 switching to IFRS, investors are transfers. that mandate IFRS adoption in on intra-industry information more likely to use earnings 2005 and from 17 countries that transfers from earnings information of industry peers for retain their local accounting announcements. share valuation, and that both standards over the1999 to 2007 improved reporting quality and period. information comparability help explain this pattern.
in which the firm resides. Landsman, Maydew and Thornock (2011) The information content of annual earnings announcements and mandatory adoption of IFRS. Sample size: The final sample comprises 21703 firm- year earnings announcements for 6067 unique firms across 27 countries. Comparison of information content of IFRS and non-IFRS firms in the pre- and periods on country level as well as on firm level. Findings from country-level and firm-level estimations indicate that firms in IFRS adopting countries experienced a greater increase in abnormal return volatility and abnormal trading volume than firms from non-IFRS adopting countries. Kim and Li (2010) Mandatory IFRS adoption and intra-industry information transfers. Sample size: 31,785 firm-year observations from 33 countries that mandate IFRS adoption in 2005 and from 17 countries that retain their local accounting standards over the1999 to 2007 period. Examine the impact of widespread mandatory IFRS adoption in 2005 on intra-industry information transfers from earnings announcements. Results suggest that after switching to IFRS, investors are more likely to use earnings information of industry peers for share valuation, and that both improved reporting quality and information comparability help explain this pattern.