Measuring the Impact of First-Time Adoption of International Financial Reporting Standards on the Performance of Romanian Listed Entities

Irina-Doina Păşcan · Mioara Ţurcaş

13 citations0/0 files storedProcedia Economics and Finance

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and XBRL

Abstract

Beginning with 2005, all the entities listed on the European Union regulated markets must prepare consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS). Romanian listed entities compulsorily apply the IFRSs starting with the consolidated financial statements prepared for the financial year 2007. The main objective of this study is to identify and measure the impact of first-time adoption of IFRS on the performance of Romanian listed entities, performance being expressed by means of net income. The results suggest that no clear tendency can be identified regarding changes in net income of listed entities generated by the transition from Romanian accounting regulations to IFRS.

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References

2007Financial statement effects of adopting international accounting standards: the case of Germany 2008Do accounting standards matter? An exploratory analysis of earnings management before and after IFRS adoption 2007Adoption of IFRS in Spain: Effect on the comparability and relevance of financial reporting 2006Implementing IFRS from the perspective of EU publicly traded companies 2010The value relevance of earnings in a transition economy: The case of Romania 2004Effects of Adoption of International Financial Reporting Standards in Belgium: The Evidence from BEL-20 Companies 2010IFRS adoption in Europe and investment-cash flow sensitivity: Outsider versus insider economies 2011A story about IAS/IFRS implementation in Romania

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