Market Reaction to the Adoption of IFRS in Europe

Aboody, 2004, Firms' voluntary recognition of stock-based compensation expense, Journal of Accounting Research, 42, 123, 10.1111/j.1475-679X.2004.00132.x

Ashbaugh, 2001, Domestic accounting standards, international accounting standards, and the predictability of earnings, Journal of Accounting Research, 39, 417, 10.1111/1475-679X.00020

Baiman, 1996, The relation among capital markets, financial disclosure, production efficiency, and insider trading, Journal of Accounting Research, 34, 1, 10.2307/2491329

Ball, 1995, Making accounting more international, how, and how far will it go?, Journal of Applied Corporate Finance, 8, 19, 10.1111/j.1745-6622.1995.tb00633.x

Ball, 2000, The effect of international institutional factors on properties of accounting earnings, Journal of Accounting and Economics, 29, 1, 10.1016/S0165-4101(00)00012-4

Ball, 2003, Incentives versus standards: Properties of accounting income in four East Asian countries, Journal of Accounting and Economics, 36, 235, 10.1016/j.jacceco.2003.10.003

———. 2006. IFRS: Pros and cons for investors. Working paper, The University of Chicago.

Barth, 1999, International accounting harmonization and global equity markets, Journal of Accounting and Economics, 26, 201, 10.1016/S0165-4101(98)00038-X

Landsman, 2008, International accounting standards and accounting quality, Journal of Accounting Research, 46, 467, 10.1111/j.1475-679X.2008.00287.x

———, Y. Konchitchki, and W. R. Landsman. 2009. Cost of capital and earnings transparency. Working paper. Graduate School of Business, Stanford University.

Beatty, 1996, An empirical analysis of the economic implications of fair value accounting for investment securities, Journal of Accounting and Economics, 22, 43, 10.1016/S0165-4101(96)00429-6

Brackney, K., and P. Witmer. 2005. The European union's role in international standards setting. The CPA Journal (November): 18–27.

Brown, 1980, Measuring security price performance, Journal of Financial Economics, 8, 205, 10.1016/0304-405X(80)90002-1

1985, Using daily stock returns: The case of event studies, Journal of Financial Economics, 14, 3, 10.1016/0304-405X(85)90042-X

Campbell, J., A. Lo, and A. C. MacKinlay. 1997. The Econometrics of Financial Markets. Princeton, NJ: Princeton University Press.

Comprix, J., K. Muller, and M. Stanford. 2003. Economic consequences of mandatory adoption of IAS in the European Union. Working paper, The Pennsylvania State University.

Cornett, 1996, An investigation of capital market reactions to pronouncements on fair value accounting, Journal of Accounting and Economics, 22, 119, 10.1016/S0165-4101(96)00440-5

Daske, H., L. Hail, C. Leuz, and R. Verdi. 2007. Adopting a label: Heterogeneity in the economic consequences of IFRS adoptions. Working paper, University of Frankfurt.

DeAngelo, 1981, Auditor size and auditor quality, Journal of Accounting and Economics, 3, 183, 10.1016/0165-4101(81)90002-1

Dechow, 1996, Economic consequences of accounting for stockbased compensation, Journal of Accounting Research, 34, 1, 10.2307/2491422

Diamond, D., and R. Verrecchia. 1991. Disclosure, liquidity, and the cost of capital. The Journal of Finance (September): 1325–1360.

Easley, 2004, Information and the cost of capital, The Journal of Finance, 59, 1553, 10.1111/j.1540-6261.2004.00672.x

Fama, 1973, Risk, return, and equilibrium: Empirical tests, The Journal of Political Economy, 81, 607, 10.1086/260061

Gow, 2010, Correcting for both cross-sectional and time-series dependence in accounting research, The Accounting Review, 85, 2, 10.2308/accr.2010.85.2.483

Hein, 2004, Improving tests of abnormal returns by bootstrapping the multivariate regression model with event parameters, Journal of Financial Econometrics, 2, 451, 10.1093/jjfinec/nbh018

Hirshleifer, 2001, Investor psychology and asset pricing, The Journal of Finance, 56, 1533, 10.1111/0022-1082.00379

Hogan, 1997, Costs and benefits of audit quality in the IPO market: A self-selection analysis, The Accounting Review, 72, 67

Hope, 2006, Empirical evidence on jurisdictions that adopt IFRS, Journal of International Accounting Research, 5, 1, 10.2308/jiar.2006.5.2.1

International Accounting Standards Board (IASB). 2004a. Financial Instruments: Disclosure and Presentation. International Accounting Standards 32. London, U.K.: IASB.

———. 2004b. Financial Instruments: Recognition and Measurement. International Accounting Standards 39. London, U.K.: IASB.

———. 2006. IASC Foundation Constitution. London, U.K.: IASB.

Jain, 2006, The Sarbanes-Oxley Act of 2002 and capital-market behavior: Early evidence, Contemporary Accounting Research, 23, 629, 10.1506/2GWA-MBPJ-L35D-C4K6

Joos, 1994, The effects of accounting diversity: Evidence from the European Union, Journal of Accounting Research, 32, 141, 10.2307/2491444

Karamanou, I., and G. Nishiotis. 2005. The valuation effects of firm voluntary adoption of International Accounting Standards. Working paper, University of Cyprus.

Kaufmann, D., A. Kraay, and M. Mastruzzi. 2007. Governance matters VI: Aggregate and individual governance indicators 1996–2006. Working paper, The World Bank.

KPMG IFRG Limited. 2005. IFRS briefing sheet: IFRSs and the E.U. endorsement process. A status report. Issue 37 (November).

La Porta, 1998, Law and finance, The Journal of Political Economy, 106, 1113, 10.1086/250042

Leuz, C., and R. Verrecchia. 2000. The economic consequences of increased disclosure. Journal of Accounting Research (Supplement): 91–124.

Li, 2008, Market reaction to events surrounding the Sarbanes-Oxley Act of 2002 and earnings management, The Journal of Law & Economics, 51, 111, 10.1086/588597

Muller, 2002, External monitoring of property appraisal estimates and information asymmetry, Journal of Accounting Research, 40, 865, 10.1111/1475-679X.00074

Pae, J., D. Thornton, and M. Welker. 2007. Agency cost reduction associated with EU financial reporting reform. Working paper, Queen's University.

Petersen, 2009, Estimating standard errors in finance panel data sets: Comparing approaches, Review of Financial Studies, 22, 435, 10.1093/rfs/hhn053

Rogers, 1993, Regression standard errors in clustered samples, Stata Technical Bulletin, 13, 19

Sefcik, S., and R. Thompson. 1986. An approach to statistical inference in cross-sectional models with security abnormal returns as dependent variable. Journal of Accounting Research (Autumn): 316–334.

Tay, 1990, Measuring international harmonization and standardization, Abacus, 26, 71, 10.1111/j.1467-6281.1990.tb00233.x

Zhang, 2007, Economic consequences of the Sarbanes-Oxley Act of 2002, Journal of Accounting and Economics, 44, 74, 10.1016/j.jacceco.2007.02.002