---
_id: '3542'
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."
author:
- first_name: Aljosa
full_name: Valentincic, Aljosa
last_name: Valentincic
- first_name: Ales
full_name: Novak, Ales
last_name: Novak
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
citation:
ama: Valentincic A, Novak A, Kosi U. Accounting quality in private firms during
the transition towards international standards. Accounting in Europe. 2017;14(3):358-387.
doi:10.1080/17449480.2017.1378821
apa: Valentincic, A., Novak, A., & Kosi, U. (2017). Accounting quality in private
firms during the transition towards international standards. Accounting in
Europe, 14(3), 358–387. https://doi.org/10.1080/17449480.2017.1378821
bibtex: '@article{Valentincic_Novak_Kosi_2017, title={Accounting quality in private
firms during the transition towards international standards}, volume={14}, DOI={10.1080/17449480.2017.1378821},
number={3}, journal={Accounting in Europe}, author={Valentincic, Aljosa and Novak,
Ales and Kosi, Urska}, year={2017}, pages={358–387} }'
chicago: 'Valentincic, Aljosa, Ales Novak, and Urska Kosi. “Accounting Quality in
Private Firms during the Transition towards International Standards.” Accounting
in Europe 14, no. 3 (2017): 358–87. https://doi.org/10.1080/17449480.2017.1378821.'
ieee: 'A. Valentincic, A. Novak, and U. Kosi, “Accounting quality in private firms
during the transition towards international standards,” Accounting in Europe,
vol. 14, no. 3, pp. 358–387, 2017, doi: 10.1080/17449480.2017.1378821.'
mla: Valentincic, Aljosa, et al. “Accounting Quality in Private Firms during the
Transition towards International Standards.” Accounting in Europe, vol.
14, no. 3, 2017, pp. 358–87, doi:10.1080/17449480.2017.1378821.
short: A. Valentincic, A. Novak, U. Kosi, Accounting in Europe 14 (2017) 358–387.
date_created: 2018-07-11T08:57:03Z
date_updated: 2023-01-24T15:34:31Z
department:
- _id: '551'
- _id: '635'
- _id: '186'
doi: 10.1080/17449480.2017.1378821
intvolume: ' 14'
issue: '3'
jel:
- M41
- C23
- L21
- P20
keyword:
- private firms
- accounting quality
- development of accounting standards
- IFRS-like standards
- Slovenia
language:
- iso: eng
page: 358-387
publication: Accounting in Europe
publication_status: published
status: public
title: Accounting quality in private firms during the transition towards international
standards
type: journal_article
user_id: '54068'
volume: 14
year: '2017'
...
---
_id: '4035'
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.
author:
- first_name: Annita
full_name: Florou, Annita
last_name: Florou
- first_name: Urska
full_name: Kosi, Urska
id: '54068'
last_name: Kosi
citation:
ama: Florou A, Kosi U. Does mandatory IFRS adoption facilitate debt financing? Review
of Accounting Studies. 2015;20(4):1407-1456. doi:10.1007/s11142
apa: Florou, A., & Kosi, U. (2015). Does mandatory IFRS adoption facilitate
debt financing? Review of Accounting Studies, 20(4), 1407–1456.
https://doi.org/10.1007/s11142
bibtex: '@article{Florou_Kosi_2015, title={Does mandatory IFRS adoption facilitate
debt financing?}, volume={20}, DOI={10.1007/s11142},
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?” Review of Accounting Studies 20, no. 4 (2015): 1407–56.
https://doi.org/10.1007/s11142.'
ieee: 'A. Florou and U. Kosi, “Does mandatory IFRS adoption facilitate debt financing?,”
Review of Accounting Studies, vol. 20, no. 4, pp. 1407–1456, 2015, doi:
10.1007/s11142.'
mla: Florou, Annita, and Urska Kosi. “Does Mandatory IFRS Adoption Facilitate Debt
Financing?” Review of Accounting Studies, vol. 20, no. 4, 2015, pp. 1407–56,
doi:10.1007/s11142.
short: A. Florou, U. Kosi, Review of Accounting Studies 20 (2015) 1407–1456.
date_created: 2018-08-22T07:47:41Z
date_updated: 2023-01-24T15:32:37Z
department:
- _id: '551'
- _id: '635'
- _id: '186'
doi: 10.1007/s11142
extern: '1'
intvolume: ' 20'
issue: '4'
jel:
- G15
- K22
- M41
- M48
keyword:
- Accounting regulation
- IFRS
- Accounting quality
- Public and private debt markets
- Cost of debt
language:
- iso: eng
page: 1407-1456
publication: Review of Accounting Studies
publication_identifier:
eissn:
- 1573-7136
publication_status: published
status: public
title: Does mandatory IFRS adoption facilitate debt financing?
type: journal_article
user_id: '54068'
volume: 20
year: '2015'
...