THE IMPACT OF MANDATORY IFRS ADOPTION ON STOCK EXCHANGE LISTINGS: INTERNATIONAL EVIDENCE

This paper investigates the change in firm listing activities in thirteen countries around two IFRS adoption events, the time the IFRS adoption decision is made and the time IFRS becomes effective. The results show that overall listings including both domestic and foreign firms on stock exchanges decrease after the IFRS adoption decision is announced, then increase after IFRS becomes effective. A further examination provides similar evidence for only listed domestic firms. Lastly, this paper finds similar results regardless of the law systems (common law or code law) of countries where firms domicile in.

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