R&D Disclosures and Capitalization under IAS 38-Evidence on the Interplay between National Institutional Regulations and IFRS Adoption

被引：6

作者：

Dinh, Tami ^{[1
]}

Schultze, Wolfgang ^{[2
]}

List, Thomas ^{[2
]}

Zbiegly, Nadine ^{[2
]}

机构：

[1] Univ St Gallen, St Gallen, Switzerland

[2] Univ Augsburg, Augsburg, Germany

来源：

JOURNAL OF INTERNATIONAL ACCOUNTING RESEARCH | 2020年 / 19卷 / 01期

关键词：

cost of capital; disclosure; intangibles; research and development; recognition; BINARY CHOICE MODELS; INFORMATION ASYMMETRY; VALUE-RELEVANCE; ECONOMIC CONSEQUENCES; CORPORATE DISCLOSURE; INTANGIBLE ASSETS; DEVELOPMENT COSTS; EARNINGS QUALITY; EXPECTED COST; IMPLIED COST;

D O I：

10.2308/jiar-17-522

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Based on the notion that the effects of IFRS adoption are dependent on changes in the institutional environment, this paper analyzes the effects of one prominent feature of IFRS: the accounting for research and development (R&D) under IAS 38. In our setting, IFRS adoption is accompanied by a change in the national institutional environment of R&D disclosure in the management commentary. National disclosure regulations can make R&D capitalization more informative when investors are skeptical of capitalization due to reliability concerns. We find that firms with higher levels of R&D disclosures that are not suspect of earnings management generally have lower cost of capital and higher market values. Their cost of capital increase and market values decrease with higher R&D capitalization, indicating that capitalization introduces information uncertainty that cannot be resolved by better disclosure. The findings imply that the institutional effect of disclosure has a strong influence on IFRS informativeness.

引用

页码：29 / 55

页数：27