Technical Report IFRSの適用が会計情報の価値関連性と格付関連性に与える影響

金, 鐘勲  ,  古賀, 裕也

2017-09 , Management Innovation Research Center, Graduate School of Commerce and Management, Hitotsubashi University
This paper examines which accounting measures (one is accounting measures based on J-GAAP and the other is those based on IFRS) better explain total market capitalizations of firms’ common stock and credit ratings issued by credit-rating agencies. Our results are as follows. First, both value and credit relevance of IFRS-based net income measures are statically significantly lower than those based on J-GAAP. Second, IFRS-based net income measures incrementally lower the credit relevance of accounting information. These results suggest that both value and credit relevance of net income of Japanese firms could become impaired by the adoption of IFRS.

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