强制采用《国际财务报告准则》对现金价值的影响：以加拿大为例

IF 1.2 4区管理学 Q4 BUSINESS Canadian Journal of Administrative Sciences-Revue Canadienne Des Sciences De L Administration Pub Date : 2022-08-09 DOI:10.1002/cjas.1690

Sabrina (Dan) Gong, Mark R. Huson, Heather A. Wier

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引用次数: 0

摘要

本文提供的证据表明，加拿大2011年采用《国际财务报告准则》改善了加拿大公司获得外部融资的机会。我们使用了加拿大和美国公司的匹配样本，发现在加拿大强制采用《国际财务报告准则》后，加拿大公司的现金边际价值显著下降。《国际财务报告准则》后现金边际价值的下降对于在非加拿大《国际财务报准则》制度中拥有大量类似公司的公司来说最为明显。这与《国际财务报告准则》建立了一套统一的会计准则，降低了跨境融资的信息成本是一致的。我们还发现，对于具有高增长潜力和低内部现金可用性的公司，与《国际财务报告准则》相关的现金价值下降幅度更大。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The effect of mandatory IFRS adoption on the value of cash: The case of Canada

This paper presents evidence that Canada's 2011 adoption of IFRS improved Canadian firms' access to external financing. We use a matched sample of Canadian and US firms and find that the marginal value of cash decreased significantly in Canadian firms following mandatory IFRS adoption in Canada. The post-IFRS decrease in the marginal value of cash is most evident for firms that have a larger number of similar firms in non-Canadian IFRS regimes. This is consistent with IFRS creating a uniform set of accounting standards that lowers the information costs of cross-border financing. We also find larger IFRS-related decreases in the value of cash for firms with high growth potential and low availability of internal cash.

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来源期刊

Canadian Journal of Administrative Sciences-Revue Canadienne Des Sciences De L Administration Multiple-

CiteScore

3.40

自引率

13.60%

发文量

期刊介绍： The Canadian Journal of Administrative Sciences (CJAS) is a multidisciplinary, peer-reviewed, international quarterly that publishes manuscripts with a strong theoretical foundation. The journal welcomes literature reviews, quantitative and qualitative studies as well as conceptual pieces. CJAS is an ISI-listed journal that publishes papers in all key disciplines of business. CJAS is a particularly suitable home for manuscripts of a crossdisciplinary nature. All papers must state in an explicit and compelling way their unique contribution to advancing theory and/or practice in the administrative sciences.