Article2018

Effects of the Adoption of IFRS on the Credit Market: Evidence from Brazil

Vinícius Simmer de Lima · Gerlando Augusto Sampaio Franco de Lima · Giorgio Gotti

36 citations0/0 files storedThe International Journal of Accounting

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Credit Risk and Financial Regulations

Abstract

Based on a sample of approximately 6500 credit ratings and 137,000 loan contracts, this paper analyzes the effects of mandatory IFRS adoption on the Brazilian credit market. We find that the IFRS adoption effects were limited to firms displaying improved accounting information quality at the time of transition, lending support to the notion that economic benefits do not necessarily flow from the publication of financial reports in IFRS but, rather, depend on how earnestly firms adopt the recommended disclosure practices.

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1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches 1991Earnings Management During Import Relief Investigations 2003Earnings management and investor protection: an international comparison 1991Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt 2008International Accounting Standards and Accounting Quality 1979On financial contracting 2003Conservatism in Accounting Part I: Explanations and Implications

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