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Economic consequences of IFRS adoption in Korea: A literature review
- Authors
- Jang, J.I.; Lee, K.J.; Seo, Y.; Cheung, J.
- Issue Date
- 2016
- Publisher
- CIBER Institute
- Keywords
- Costs of capital; Earnings quality; Economic consequences; IFRS; Korea
- Citation
- Journal of Applied Business Research, v.32, no.6, pp 1649 - 1662
- Pages
- 14
- Journal Title
- Journal of Applied Business Research
- Volume
- 32
- Number
- 6
- Start Page
- 1649
- End Page
- 1662
- ISSN
- 0892-7626
- Abstract
- We provide a comprehensive review of academic research on the economic consequences of International Financial Reporting Standards (IFRS) adoption in Korea. We review 18 empirical studies on the economic consequences of IFRS adoption in Korea and classify them into six areas: (a) earnings quality, (b) comparability of financial statements, (c) value relevance, (d) analysts’ behavior, (e) information asymmetry, and (f) cost of capital and firm value. Our review suggests that IFRS adoption in Korea has generally afforded positive economic consequences. The limitations of the existing studies are discussed and various directions for future research are suggested. © by author(s).
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