Accounting Standards and International Portfolio Holdings: Analysis of Cross-border Holdings Following Mandatory Adoption of IFRS.
dc.contributor.author | Yu, Gowoon | en_US |
dc.date.accessioned | 2010-08-27T15:14:49Z | |
dc.date.available | NO_RESTRICTION | en_US |
dc.date.available | 2010-08-27T15:14:49Z | |
dc.date.issued | 2010 | en_US |
dc.date.submitted | en_US | |
dc.identifier.uri | https://hdl.handle.net/2027.42/77800 | |
dc.description.abstract | Prior literature shows that investors under-invest in foreign firms due to information asymmetry problems. I posit that differences in local accounting standards are a source of the information asymmetry among investors. Using security-level holdings of international mutual funds, I find that harmonizing accounting standards (adoption of IFRS) increases foreign mutual fund holdings. Harmonizing accounting standards increases cross-border holdings 1) directly by reducing the information processing cost of foreign investors and 2) indirectly by reducing the effect of other barriers on cross-border investments such as geographic distance. Further analysis suggests that differences in the enforcement of the standards are sufficient to curb the benefits of accounting harmonization. | en_US |
dc.format.extent | 1988306 bytes | |
dc.format.extent | 1373 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | en_US |
dc.subject | Accounting Harmonization | en_US |
dc.subject | IFRS | en_US |
dc.subject | Capital Flows | en_US |
dc.subject | Cross Border Mutual Fund Holdings | en_US |
dc.title | Accounting Standards and International Portfolio Holdings: Analysis of Cross-border Holdings Following Mandatory Adoption of IFRS. | en_US |
dc.type | Thesis | en_US |
dc.description.thesisdegreename | PhD | en_US |
dc.description.thesisdegreediscipline | Business Administration | en_US |
dc.description.thesisdegreegrantor | University of Michigan, Horace H. Rackham School of Graduate Studies | en_US |
dc.contributor.committeemember | Lundholm, Russell James | en_US |
dc.contributor.committeemember | Dichev, Ilia D. | en_US |
dc.contributor.committeemember | Miller, Gregory Smith | en_US |
dc.contributor.committeemember | Nagar, Venkatesh K. | en_US |
dc.contributor.committeemember | Shumway, Tyler G. | en_US |
dc.contributor.committeemember | Zhang, Jing | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/77800/1/gowoonyu_1.pdf | |
dc.owningcollname | Dissertations and Theses (Ph.D. and Master's) |
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