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Article: The impact of IFRS adoption on foreign direct investment

TitleThe impact of IFRS adoption on foreign direct investment
Authors
Issue Date2012
PublisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jaccpubpol
Citation
Journal Of Accounting And Public Policy, 2012, v. 31 n. 4, p. 374-398 How to Cite?
AbstractBy analyzing a panel data set of over 1300 observations covering 124 countries, for the period from 1996 through 2009, this paper tests the basic argument that the adoption of International Foreign Reporting Standards (IFRSs) by a country results in increased foreign direct investment (FDI) inflows. Analysis of the data using an ordinary least squares (OLSs) approach provides evidence that adoption of IFRS leads to increased FDI inflows. The analysis indicates, however, that the overall increase in FDI inflows from IFRS adoption is due to the increase in FDI inflows by countries with developing, as opposed to developed, economies. A difference-in-difference test confirms these findings. A key potential driver for IFRS adoption by countries with developing economies is the desire to receive financial aid from the World Bank. This factor is explicitly taken into account using a two-stage instrumental variable (IV) model. The results using the IV model provide strong confirmation of the OLS results. © 2012 Elsevier Inc.
Persistent Identifierhttp://hdl.handle.net/10722/178083
ISSN
2015 Impact Factor: 1.317
2015 SCImago Journal Rankings: 1.030
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorGordon, LAen_US
dc.contributor.authorLoeb, MPen_US
dc.contributor.authorZhu, Wen_US
dc.date.accessioned2012-12-19T09:41:50Z-
dc.date.available2012-12-19T09:41:50Z-
dc.date.issued2012en_US
dc.identifier.citationJournal Of Accounting And Public Policy, 2012, v. 31 n. 4, p. 374-398en_US
dc.identifier.issn0278-4254en_US
dc.identifier.urihttp://hdl.handle.net/10722/178083-
dc.description.abstractBy analyzing a panel data set of over 1300 observations covering 124 countries, for the period from 1996 through 2009, this paper tests the basic argument that the adoption of International Foreign Reporting Standards (IFRSs) by a country results in increased foreign direct investment (FDI) inflows. Analysis of the data using an ordinary least squares (OLSs) approach provides evidence that adoption of IFRS leads to increased FDI inflows. The analysis indicates, however, that the overall increase in FDI inflows from IFRS adoption is due to the increase in FDI inflows by countries with developing, as opposed to developed, economies. A difference-in-difference test confirms these findings. A key potential driver for IFRS adoption by countries with developing economies is the desire to receive financial aid from the World Bank. This factor is explicitly taken into account using a two-stage instrumental variable (IV) model. The results using the IV model provide strong confirmation of the OLS results. © 2012 Elsevier Inc.en_US
dc.languageengen_US
dc.publisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jaccpubpolen_US
dc.relation.ispartofJournal of Accounting and Public Policyen_US
dc.titleThe impact of IFRS adoption on foreign direct investmenten_US
dc.typeArticleen_US
dc.identifier.emailZhu, W: wenjie99@hku.hken_US
dc.identifier.authorityZhu, W=rp01619en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/j.jaccpubpol.2012.06.001en_US
dc.identifier.scopuseid_2-s2.0-84865561254en_US
dc.identifier.hkuros217452-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84865561254&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume31en_US
dc.identifier.issue4en_US
dc.identifier.spage374en_US
dc.identifier.epage398en_US
dc.identifier.isiWOS:000309031200003-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridGordon, LA=24543028100en_US
dc.identifier.scopusauthoridLoeb, MP=7101938644en_US
dc.identifier.scopusauthoridZhu, W=55342547200en_US
dc.identifier.citeulike11703540-

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