Does IFRS adoption decrease the cost of equity of the global tourism firms?

Zhi Yuan Feng, Ying Chieh Wang, Hua Wei Huang

研究成果: Article同行評審

1 引文 斯高帕斯(Scopus)

摘要

This article answers the question of whether the adoption of International Financial Reporting Standards (IFRS) reduces the cost of equity capital, with a focus on the tourism industry. We employ a set of global tourism companies and find that mandatory IFRS adoption has a significantly negative relation with the cost of equity capital. However, we find that this relation is varied with different business cultures and geographic areas. Moreover, from interactive analyses of country institutions for the relation between mandatory IFRS adoption and tourism firm’s cost of equity, we show that adopting IFRS complements the deficiencies of various country institutions, such as investor protection, the strength of legal enforcement, and corporate governance.

原文English
頁(從 - 到)1615-1631
頁數17
期刊Tourism Economics
23
發行號8
DOIs
出版狀態Published - 2017 十二月 1

All Science Journal Classification (ASJC) codes

  • 地理、規劃與發展
  • 旅遊、休閒和酒店管理

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