文章基本信息

标题：Impact of IFRS on non-cross-listed Spanish companies: Financial analysts and volume of trade
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作者：Sonia Sanabria-García ; Pascual Garrido-Miralles
期刊名称：European Research on Management and Business Economics
印刷版ISSN：2444-8834
出版年度：2020
卷号：26
期号：2
页码：78-86
DOI：10.1016/j.iedeen.2020.04.001
出版社：Elsevier B.V.
摘要：This study aims to analyse, within the scope of publicly listed Spanish companies, whether the mandatory implementation of International Financial Reporting Standards (IFRS) has had an effect on financial analysts’ earnings forecasts and investments in non-cross-listed Spanish companies (those only listed on the Spanish capital market). A sample of 369 observations for companies listed on the Spanish securities market for the period 2004–2007, of which 84 are cross-listed, was used to perform the analysis. The results show that the transition from domestic to international accounting standards has had positive effects for non-cross-listed Spanish companies, leading to the improved accuracy of financial analysts’ earnings forecasts and an increase in investments.
关键词：Cross-listing ; Analyst forecast error ; Volume of trade ; International Financial Reporting Standards