[{"_id":"3542","department":[{"_id":"551"},{"_id":"635"},{"_id":"186"}],"user_id":"54068","type":"journal_article","status":"public","date_updated":"2023-01-24T15:34:31Z","volume":14,"author":[{"last_name":"Valentincic","full_name":"Valentincic, Aljosa","first_name":"Aljosa"},{"full_name":"Novak, Ales","last_name":"Novak","first_name":"Ales"},{"id":"54068","full_name":"Kosi, Urska","last_name":"Kosi","first_name":"Urska"}],"doi":"10.1080/17449480.2017.1378821","publication_status":"published","page":"358-387","intvolume":"        14","jel":["M41","C23","L21","P20"],"citation":{"ieee":"A. Valentincic, A. Novak, and U. Kosi, “Accounting quality in private firms during the transition towards international standards,” <i>Accounting in Europe</i>, vol. 14, no. 3, pp. 358–387, 2017, doi: <a href=\"https://doi.org/10.1080/17449480.2017.1378821\">10.1080/17449480.2017.1378821</a>.","chicago":"Valentincic, Aljosa, Ales Novak, and Urska Kosi. “Accounting Quality in Private Firms during the Transition towards International Standards.” <i>Accounting in Europe</i> 14, no. 3 (2017): 358–87. <a href=\"https://doi.org/10.1080/17449480.2017.1378821\">https://doi.org/10.1080/17449480.2017.1378821</a>.","ama":"Valentincic A, Novak A, Kosi U. Accounting quality in private firms during the transition towards international standards. <i>Accounting in Europe</i>. 2017;14(3):358-387. doi:<a href=\"https://doi.org/10.1080/17449480.2017.1378821\">10.1080/17449480.2017.1378821</a>","apa":"Valentincic, A., Novak, A., &#38; Kosi, U. (2017). Accounting quality in private firms during the transition towards international standards. <i>Accounting in Europe</i>, <i>14</i>(3), 358–387. <a href=\"https://doi.org/10.1080/17449480.2017.1378821\">https://doi.org/10.1080/17449480.2017.1378821</a>","mla":"Valentincic, Aljosa, et al. “Accounting Quality in Private Firms during the Transition towards International Standards.” <i>Accounting in Europe</i>, vol. 14, no. 3, 2017, pp. 358–87, doi:<a href=\"https://doi.org/10.1080/17449480.2017.1378821\">10.1080/17449480.2017.1378821</a>.","short":"A. Valentincic, A. Novak, U. Kosi, Accounting in Europe 14 (2017) 358–387.","bibtex":"@article{Valentincic_Novak_Kosi_2017, title={Accounting quality in private firms during the transition towards international standards}, volume={14}, DOI={<a href=\"https://doi.org/10.1080/17449480.2017.1378821\">10.1080/17449480.2017.1378821</a>}, number={3}, journal={Accounting in Europe}, author={Valentincic, Aljosa and Novak, Ales and Kosi, Urska}, year={2017}, pages={358–387} }"},"keyword":["private firms","accounting quality","development of accounting standards","IFRS-like standards","Slovenia"],"language":[{"iso":"eng"}],"publication":"Accounting in Europe","abstract":[{"lang":"eng","text":"We study the historical development of Slovenian Accounting Standards (SAS) and their association with accounting quality (AQ). We focus on private firms where the financial reporting process is characterised by low demand for high-quality reporting. We investigate three distinct editions of SAS since 1994 and test how their development towards international standards is related to AQ. Aggregate earnings management measures indicate that the use of accounting discretion decreases with less earnings smoothing over time. The main features of AQ have been consistent throughout historical development. Asymmetric timeliness of earnings, the ability of earnings to predict future cash flows, and the ability of accruals to mitigate mismatching are all present throughout. We also document typical departures from properties of high AQ. For example, accruals do not (always) facilitate timely recognition of losses. However, these can be attributed to the overwhelming influence of reporting incentives (e.g. taxation, debt, size) rather than to the (lower) quality of accounting standards.\r\n\r\n\r\n     \r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n \r\n\r\n\r\n\r\n Full Article  \r\n  Figures & data  \r\n References \r\n  Citations  \r\n \r\n Metrics \r\n  Reprints & Permissions \r\n  PDF \r\n \r\n \r\n\r\n\r\n\r\n\r\nAbstract\r\n\r\n\r\nWe study the historical development of Slovenian Accounting Standards (SAS) and their association with accounting quality (AQ). We focus on private firms where the financial reporting process is characterised by low demand for high-quality reporting. We investigate three distinct editions of SAS since 1994 and test how their development towards international standards is related to AQ. Aggregate earnings management measures indicate that the use of accounting discretion decreases with less earnings smoothing over time. The main features of AQ have been consistent throughout historical development. Asymmetric timeliness of earnings, the ability of earnings to predict future cash flows, and the ability of accruals to mitigate mismatching are all present throughout. We also document typical departures from properties of high AQ. For example, accruals do not (always) facilitate timely recognition of losses. However, these can be attributed to the overwhelming influence of reporting incentives (e.g. taxation, debt, size) rather than to the (lower) quality of accounting standards."}],"date_created":"2018-07-11T08:57:03Z","title":"Accounting quality in private firms during the transition towards international standards","issue":"3","year":"2017"},{"publication_identifier":{"eissn":["1573-7136"]},"publication_status":"published","page":"1407-1456","intvolume":"        20","jel":["G15","K22","M41","M48"],"citation":{"apa":"Florou, A., &#38; Kosi, U. (2015). Does mandatory IFRS adoption facilitate debt financing? <i>Review of Accounting Studies</i>, <i>20</i>(4), 1407–1456. <a href=\"https://doi.org/10.1007/s11142\">https://doi.org/10.1007/s11142</a>","mla":"Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate Debt Financing?” <i>Review of Accounting Studies</i>, vol. 20, no. 4, 2015, pp. 1407–56, doi:<a href=\"https://doi.org/10.1007/s11142\">10.1007/s11142</a>.","short":"A. Florou, U. Kosi, Review of Accounting Studies 20 (2015) 1407–1456.","bibtex":"@article{Florou_Kosi_2015, title={Does mandatory IFRS adoption facilitate debt financing?}, volume={20}, DOI={<a href=\"https://doi.org/10.1007/s11142\">10.1007/s11142</a>}, number={4}, journal={Review of Accounting Studies}, author={Florou, Annita and Kosi, Urska}, year={2015}, pages={1407–1456} }","chicago":"Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate Debt Financing?” <i>Review of Accounting Studies</i> 20, no. 4 (2015): 1407–56. <a href=\"https://doi.org/10.1007/s11142\">https://doi.org/10.1007/s11142</a>.","ieee":"A. Florou and U. Kosi, “Does mandatory IFRS adoption facilitate debt financing?,” <i>Review of Accounting Studies</i>, vol. 20, no. 4, pp. 1407–1456, 2015, doi: <a href=\"https://doi.org/10.1007/s11142\">10.1007/s11142</a>.","ama":"Florou A, Kosi U. Does mandatory IFRS adoption facilitate debt financing? <i>Review of Accounting Studies</i>. 2015;20(4):1407-1456. doi:<a href=\"https://doi.org/10.1007/s11142\">10.1007/s11142</a>"},"volume":20,"author":[{"first_name":"Annita","last_name":"Florou","full_name":"Florou, Annita"},{"first_name":"Urska","full_name":"Kosi, Urska","id":"54068","last_name":"Kosi"}],"date_updated":"2023-01-24T15:32:37Z","doi":"10.1007/s11142","type":"journal_article","status":"public","department":[{"_id":"551"},{"_id":"635"},{"_id":"186"}],"user_id":"54068","_id":"4035","extern":"1","issue":"4","year":"2015","date_created":"2018-08-22T07:47:41Z","title":"Does mandatory IFRS adoption facilitate debt financing?","publication":"Review of Accounting Studies","abstract":[{"lang":"eng","text":"We examine whether the mandated introduction of International Financial Reporting Standards (IFRS) is associated with the propensity to access the public rather than private debt market and the cost of debt. We use a global sample of public bonds and private loans and find that mandatory IFRS adopters are more likely, post-IFRS, to issue bonds than to borrow privately. We also find that mandatory IFRS adopters pay lower bond yield spreads, but not lower loan spreads, after the mandate. These findings are consistent with debt providers responding positively to financial reporting of higher quality and comparability, but only when there is a greater reliance on publicly available financial statements than private communication. Lastly, we document that the observed debt market benefits are concentrated in countries with larger differences between domestic GAAP and IFRS and are present even for EU countries that did not experience concurrent financial reporting enforcement or other institutional reforms. Overall, our study documents positive economic consequences around the mandated IFRS adoption for corporate debt financing and, in particular, for bond financing."}],"language":[{"iso":"eng"}],"keyword":["Accounting regulation","IFRS","Accounting quality","Public and private debt markets","Cost of debt"]}]