HARMONIZATION OF INTERNATIONAL ACCOUNTING STANDARDS: AN EMPIRICAL ANALYSIS OF JAPANESE FIRMS

• 발행기관: People & Global Business Association
• 저자명: Wikil Kwak Il Woon Kim Sung Hyoo Huh
• 간행물 정보: 『Global Business and Finance Review』Vol.4 No.2, 47~54쪽, 전체 7쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 1999.12.31

영문 초록

This study examines the market's responsiveness to the earnings announcements of Japanese firms that use U.S. GAAP compared to Japanese GAAP by investigating earnings response coefficients. The empirical results show similar earnings response coefficients for U.S. GAAP firms compared to those of Japanese GAAP firms. The results suggest that investors' perceptions of the quality of a firm's external reporting system that uses U.S. GAAP have similar earnings' noise as when a firm uses Japanese GAAP. If this is the case, the findings of this study suggest that the SEC should not require foreign registrants to use U.S. GAAP to list in the U.S. stock market because there are no incremental benefits other than reduced noise and there are significant translation costs. Instead, the SEC should support harmonization of international accounting standards.

목차

Abstract

INTRODUCTION

BACKGROUND

DEVELOPMENT OF HYPOTHESIS

RESEARCH DESIGN

RESULTS

CONCLUSIONS

REFERENCES