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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/98779

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/98779

Title:	The Effects of Financial Reporting on Bank Loan Contracting in Global Markets: Evidence fromMandatory IFRS Adoption
Authors:	金成隆 Chen, Tai-Yuan;Chin, Chen-Lung;Wang, Shiheng;Yao, Wei-Ren
Contributors:	會計系
Keywords:	accounting quality;bank loan contracts;information asymmetry;mandatory IFRS adoption
Date:	2015
Issue Date:	2016-07-07 16:14:11 (UTC+8)
Abstract:	This study examines the effects of the mandatory adoption of International Financial Reporting Standards (IFRS) on the contract terms of bank loans in a global setting. Using a difference-in-differences design based on 26,474 bank loans in 31 countries during the 2000-2011 period, we find that borrowers who mandatorily adopt IFRS experience an increase in interest rates, a reduction in the use of accounting-based financial covenants, an increase in the likelihood that a loan is collateralized, a reduction in loan maturity, and an increase in the fraction of a loan retained by lead arrangers. These findings are robust to the removal of the 2008 financial crisis fromour analysis, as well as to the matching of IFRS and non-IFRS borrowers on various country- and firm-level characteristics. Furthermore,we find that these changes are more pronounced for borrowers with greater financial reporting changes, as well as those with poorer accounting quality after IFRS adoption.
Relation:	Journal of International Accounting Research (A-), 14(2), 45-81 (A-)
Data Type:	article
DOI 連結:	http://dx.doi.org/10.2308/jiar-51031
DOI:	10.2308/jiar-51031
Appears in Collections:	[會計學系] 期刊論文

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