Bellas, Athanasios and Toudas, Kanellos and Papadatos, Konstantinos (2007): What International Accounting Standards (IAS) bring about to the financial statements of Greek Listed Companies? The case of the Athens Stock Exchange. Published in: Spoudai: Journal of Economics and Business , Vol. 3, No. 57 (2007): pp. 54-77.
Download (196kB) | Preview
The aim of the present study is to investigate the repercussions of the accounting changeover from the Greek Accounting Standards (GAS) to the International Accounting Standards (IAS) in relation to the published financial statements of Greek listed companies for the year 2004. The results show that tangible assets, fixed assets, and total liabilities record significantly higher prices under the IAS. Furthermore, it was recorded that, in opposition to the net income after taxes, the book value appears to play a more significant role under the IAS, compared to that under the GAS. There is also evidence that the adjustments of GAS to net income improve incremental value relevance, while the adjustments of GAS to book value do not improve it.
|Item Type:||MPRA Paper|
|Original Title:||What International Accounting Standards (IAS) bring about to the financial statements of Greek Listed Companies? The case of the Athens Stock Exchange|
|Keywords:||International Accounting Standards (IAS), Greek Accounting Standards (GAS), Value relevance, Incremental value relevance, Accounting Standards, Fair value|
|Subjects:||M - Business Administration and Business Economics; Marketing; Accounting > M4 - Accounting and Auditing > M41 - Accounting|
|Depositing User:||Konstantinos Papadatos|
|Date Deposited:||06. Feb 2009 15:14|
|Last Modified:||12. Feb 2013 16:13|
Al-Basteki H. (1995), The voluntary Adoption of International Accounting Standards by Bahraini Corporations, Advances in International Accounting, 47- 64
Ball R. and Brown P. (1968), Empirical Evaluation of Accounting Income Numbers, Journal of Accounting Research, 159 – 178
Barth M., Landsman W. and Lang M. (2005), International Accounting Standards and Accounting Quality, Working Paper, Stanford University
Bellas P.A. (2005), The Application of IAS by Non listed Companies, Epixeirisi, 7, 957 – 959, (in Greek)
El-Gazzar M.S., Finn M.P. and Jacob R. (1999), An Empirical Investigation of Multinational Firms’ Compliance with International Accounting Standards, The International Journal of Accounting, 34 (2), 239 - 248
Fontes A., Rodrigues L.L., and Craig R. (2005), Measuring Convergence of National Accounting Standards with International Financial Reporting Standards, Accounting Forum, 29, 415 - 436
Garrido P., Leon A. and Zorio A. (2002), Measurement of the Formal Harmonization Progress: The IASC Experience, The International Journal of Accounting, 37, 1 - 26
Harris M. and Muller K. (1999), The Market Valuation of IAS Versus US - GAAP Accounting Measures Using Form 20-f Reconciliations, Journal of Accounting and Economics, 26, 285 - 312
Hung M. and Subramanyam K.R. (2004), Financial Statement Effects of Adopting International Accounting Standards: The Case of Germany, Working paper, University of Southern California.
Larson R.K. and Street D.L. (2004), Convergence with IFRS in an Expanding Europe: Progress and Obstacles Identified by Large Accounting Firms’ Survey, Journal of International Accounting, Auditing and Taxation, 13, 89 - 119
Lin Z.J. and Chen F. (2005), Value Relevance of International Accounting Standards Harmonization: Evidence from A- and B- Share Markets in China, Journal of International Accounting, Auditing and Taxation, 14, 79 - 103
Markazos Κ. (2005), The IAS: from International Theory to Greek Practice, Epixeirisi, 7, 960 – 971, (in Greek)
Murphy B.A. (1999), Firm Characteristics of Swiss Companies that Utilize International Accounting Standards, The International Journal of Accounting, 34 (1), 121 - 131
Ohlson J.A. (1995), Earnings, Book Values, and Dividends in Equity Valuation, Contemporary Accounting Research, 11 (2), 661 – 688.
Rahman A., Perera H. and Ganesh S. (2002), Accounting Practice Harmony, Accounting Regulation and Firm Characteristics, Abacus, 38 (1), 46 - 74
Sami H. and Zhou H. (2004), A Comparison of Value Relevance of Accounting Information in the Different Segments of the Chinese Stock Market, The International Journal of Accounting, 39, 403 - 427
Street L.D. and Gray J.S. (2002), Factors Influence the Extent of Corporate compliance with International Accounting Standards: Summary of a Research Monograph, Journal of International Accounting, Auditing & Taxation, 11, 51 - 76
Street L.D., Gray J.S. and Bryant M.S. (1999), Acceptance and Observance of International Accounting Standards: An Empirical Study of Companies Claiming to comply with IASs, The International Journal of Accounting, 34, (1), 11 - 48
Tarca A. (2002), International Convergence of Accounting Practices: Choosing Between IAS and US GAAP, Journal of International Financial Management and Accounting, 15, (1), 60 – 91
Zimmermann J. and Gontcharov I. (2003), Do Accounting Standards Influence the Level of Earnings Management? Evidence from Germany, Working Paper No. 041 ACCT. 041, London Business School,
Voung Q. (1989), Likelihood Ratio Tests for Model Selection and Non – Nested Hypotheses, Econometrica, 57, (2), 307 - 333