scholarly journals Efecto de la convergencia a normas internacionales de información financiera en empresas cotizantes de la bolsa de valores de Colombia

AD-minister ◽  
2019 ◽  
pp. 77-92
Author(s):  
Liliana Elizabeth Ruiz Acosta ◽  
David Andrés Camargo Mayorga ◽  
Octavio Cardona García
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Indicators ◽  
Return On Equity ◽  
Operating Income ◽  
Financial Reporting Standards ◽  
Operating Profit ◽  
Two Samples ◽  
Before And After ◽  
The Difference

The purpose of this document is to analyze the effect of adopting the International Financial Reporting Standards (IFRS), which is a compulsorily requirement to be complied with as of 2015, for companies listed on the Colombian Stock Exchange (BVC by its acronym in Spanish). For the purposes of this study, two samples were used. The first one, with 52 Colombian companies whose financial indicators such as Return on Equity (ROE), Operating Profit Margin (OPM) and Return on Invested Capital (ROIC) were obtained from the accounting information, and where the mean difference was applied, (These companies corresponded to the year 2014 before and after the IFRS.) The second sample had 32 companies. Their level of leverage, ordinary income, operating income, and profit and loss for the year were analyzed to determine the effects of these variables on their market capitalization, using the difference in differences method, taking 2014 as the control year without IFRS and 2015 as the year of treatment with IFRS. The findings show, that in the 52 companies studied, adopting the standards did not signal changes in financial indicators before and after IFRS, as does the stock market value in the sample of 32 companies.

scholarly journals The importance of information upon applying IFRS in financial entities that trade at the Colombian stock market

2019 ◽  
Vol 21 (34) ◽  
pp. 137-152
Author(s):  
Miguel Angel Laverde Sarmiento ◽  
Jorge Fernando Garcia Carrillo ◽  
Juan Carlos Lezama Palomino ◽  
Alejandra Patiño Jacinto
Keyword(s):  
Financial Reporting ◽  
Stock Price ◽  
Stock Exchange ◽  
Regulatory Framework ◽  
General Level ◽  
Market Exchange ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Before And After ◽  
The Impact

The aim of this research is to determine whether the implementation of the International Financial Reporting Standards (IFRS) in the companies of the financial sector listed on the Colombian Stock Exchange has greater relevance compared to the previous accounting regulatory framework known as Generally Accepted Accounting Principles (GAAP) in Colombia, for the years 2009 to 2016. Taking into account the concept of valorative relevance that indicates that the accounting information is relevant if it affects the stock price reflected in the capital market exchange. To determine this relationship, an adaptation of the model proposed by Ohlson (1995) is used, because it is the most frequently used to measure relevance. The modifications made to the model were to include accounting variables of financial instruments of assets and liabilities to better measure the impact of the IFRS. On a general level, the conclusion is reached that the valorative relevance of financial companies listed on the stock exchange between 2009 and 2016, does not change due to the application of the IFRS. The results are because the regulation that financial companies that are listed on the stock exchange of Colombia are subject to has contributed to the relevance being maintained before and after the application of the new regulatory framework. however, when carrying out the study of the information taking into account only the variables and taking into account the regulations under the IFRS, they present a greater degree of significance.

KINERJA FINANSIAL PERUSAHAAN YANG MELAKUKAN AKUISISI

2015 ◽  
Vol 11 (2) ◽  
pp. 48 ◽  
Author(s):  
Elok Sri Utami
Keyword(s):  
Financial Performance ◽  
Return On Investment ◽  
Activity Ratio ◽  
Stock Exchange ◽  
Return On Equity ◽  
Total Debt ◽  
Before And After ◽  
Equity Ratio ◽  
The Difference ◽  
Firm Activity

This study attempts to examine empirical evidence of the firms’ financial performances conducting acquisition at the Indonesian Stock Exchange. A sample of 22 firms undertaking acquisition during 2007-20010 is examined. The t-test for mean difference is employed to examine the performance for the period prior to and after the acquisition. The results show that the firms’ liquidity ratio is not significantly different for the periods before and after acquisition. Total debt to total assets ratio and total debt to equity ratio are significantly different. In particular, the average of these two ratios is higher in the period after the acquisition. This study also documents that the firm activity ratio, measured as total assets turnover, is indifferent between the periods. In addition, the firms’ return on investment and return on equity is lowering after acquisition and the difference is significant. Keywords: acquisition, financial performance,Indonesian Stock Exchange

scholarly journals PERBEDAAN KINERJA KEUANGAN SEBELUM DENGAN SESUDAH AKUISISI TERHADAP PERUSAHAAN YANG TERDAFTAR DI BEI

2018 ◽  
Vol 2 (2) ◽  
pp. 122
Author(s):  
Sinta Rahayu ◽  
Diah Lestari Mumpuni
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Profit Margin ◽  
Analysis Techniques ◽  
Operating Profit ◽  
Earnings Per Share ◽  
Before And After ◽  
Equity Ratio ◽  
The Difference ◽  
A Company

 The purpose of this study was to know (1) the difference Operating Profit Margin before with after acquisition (2) the difference Earning Per Share before with after acquisition, and (3) the Debt to Equity Ratio before with after acquisition.This Study classified as a quantitative research. The population is a company listed on the Indonesia Stock Exchange (IDX), do acquisitions in 2013. The samples were companies listed on the Stock Exchange during the study and the companies that make acquisitions in 2013 with years of observations from 2011 to 2015, the date the acquisition is clear, available reports Detailed financial five quarterly before and after each company. Methods of data collection using the method of documentation, while data analysis techniques using testing T (T-test).The results showed that the Operating Profit Margin, Earnings Per Share before and after the acquisition was not a significant. The different results obtained in Debt to Equity Ratio before to after the acquisition there are significant differences.Keywords: Operating Profit Margin, Earning Per Share, Debt to equity Ratio, acquisition.

The Relationship between the Structure of Ownership and the Choice of Accounting Policies and their Reflection on the Market Value Considering International Financial Reporting Standards for Banks Listed on the Iraqi Stock Exchange

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Salah Kadhim ◽  
Bakr Ibrahim Mahmood ◽  
Hussein Falah Hasan
Keyword(s):  
Financial Reporting ◽  
Direct Relationship ◽  
Stock Exchange ◽  
Market Value ◽  
Accounting Conservatism ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Before And After ◽  
The Relationship

The study aimed to clarify the concept and importance of the relationship between the structure of ownership and the choice of accounting policies and their reflection on the market value in light of international financial reporting standards for banks listed in the Iraq Stock Exchange. Eleven banks were selected for the period from 2010 to 2019. The results of the study concluded that there is a direct relationship between the percentage of administrative ownership weighted by accounting conservatism and the market value of the research sample banks. This was before and after the application of the International Financial Reporting Standards (IFRS), which indicates that the application of the standards did not limit the management's behavior towards the accounting conservatism policy in order to increase the market value.

Analisis Perbedaan Abnormal Return dan Kinerja Keuangan Perusahaan Sebelum dan Sesudah Merger atau Akuisisi

2014 ◽  
Vol 6 (2) ◽  
pp. 18-38
Author(s):  
Steffi Aprilda Natasya Lim ◽  
Suhajar Wiyoto
Keyword(s):  
Financial Performance ◽  
Abnormal Return ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Financial Reports ◽  
Asset Return ◽  
Return On Equity ◽  
Before And After ◽  
The Difference

The objective of this research is to examine the difference of abnormal return, and companies’ financial performance, before and after merger or acquisition. The companies’ financial performances are projected by financial ratios, which are return on asset and return on equity. This research is expected to help economic actors in making economic decisions related to merger and acquisition. The samples in this study are 11 companies that listed in Indonesia Stock Exchange (Bursa Efek Indonesia) in the year 2010-2011, except financial sectors and done corporate action merger or acquisition. The sample in this study determined based on purposive sampling. Data used in this study is secondary data such as annual reports or financial reports. The results from this study are (1) there is no difference of abnormal return before and after merger or acquisition (2) there is no difference of companies’ financial performance that projected by return on asset before and after merger or acquisition (3) there is a difference of companies’ financial performance that projected by return on equity before and after merger or acquisition. Keywords: abnormal return, return on asset, return on equity, merger, acquisition

scholarly journals Measurement of earnings management before and after applying IFRSS using jones' modified method an applied research in a sample of banks listed in the Iraqi stock exchange

2018 ◽  
Vol 6 (2) ◽  
pp. 56
Author(s):  
Dr Sabeha Barzan Farhood
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Applied Research ◽  
Stock Exchange ◽  
Accounting System ◽  
Financial Reporting Standards ◽  
Modified Method ◽  
Quality Of Accounting Information ◽  
Before And After

In the year 2016, all commercial banks in Iraq were obliged to switch from the application of the local unified accounting system to the application of International Financial Reporting Standards (IFRSs) to improve the quality of accounting information and make it relevant for decision-making. The objective of the research is to measure earnings management in a number of banks which applied IFRSs at the end of the financial year 2016 through their application on a sample of banks for the years (2012-2013, 2014, 2015, 2016). The results were compared with the measurement of earnings management under the application of the unified accounting system (before the adoption of IFRSs) and after the application of the (IFRSs). The researcher concluded that the percentage of earnings management in the years in which the banks applied the unified accounting system is very close to its percentage in the case of the application of IFRSs, which shows that the application of IFRSs did not change the percentage of earnings management in banks.  

Earnings Opacity and Closed-End Country Fund Discounts

2016 ◽  
Vol 33 (3) ◽  
pp. 324-354 ◽  
Author(s):  
Feng Chen ◽  
Ole-Kristian Hope ◽  
Qingyuan Li ◽  
Xin Wang
Keyword(s):  
Financial Reporting ◽  
Stock Prices ◽  
Information Acquisition ◽  
Stock Exchange ◽  
Positive Association ◽  
Positive Relation ◽  
Financial Reporting Standards ◽  
Country Funds ◽  
Asset Value ◽  
The Difference

Closed-end country funds are interesting in that they have two sets of prices for the same underlying assets—the net asset value (NAV) of the fund holdings as measured using the underlying firms’ stock prices in their home markets and the fund price at which the fund trades on a U.S. stock exchange. Utilizing the theoretical framework of information asymmetry in two separate markets for an identical asset, we find that the difference between the fund’s NAV and its trading price (i.e., the fund discount) is positively associated with the earnings opacity of the underlying companies. Such a positive association is consistent with the notion that U.S. investors face higher information acquisition and processing costs when compared with local investors, and therefore earnings opacity exacerbates the information disadvantage of U.S. investors, leading to a larger fund discount. We further show that the positive relation varies predictably with U.S. investors’ information acquisition and processing costs and with the extent to which host stock markets are segmented from the U.S. market. Specifically, we find that the positive relation between earnings opacity and fund discounts is weaker for those funds with more U.S. cross-listings in fund holdings, with underlying companies following financial reporting standards similar to U.S. standards, and with less segmented local markets.

Analisis Perbedaan Earnings Response Coefficient (ERC) Sebelum dan Setelah Adopsi IFRS pada Perusahaan yang Tercatat dalam Bursa Efek Indonesia

MODUS ◽  
2016 ◽  
Vol 28 (1) ◽  
pp. 39
Author(s):  
Fransisca Intan Galantika ◽  
I Gede Siswantaya
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Reporting Standards ◽  
Earnings Response Coefficient ◽  
Financial Reporting Standards ◽  
Response Coefficient ◽  
Significant Difference ◽  
Before And After ◽  
Earnings Response

AbstrakKonvergensi International Financial Reporting Standards (IFRS) menyebabkan Pernyataan Standar Akuntansi Keuangan (PSAK) mengalami beberapa perubahan. Perbedaan standar akuntansi keuangan menyebabkan komparibilitas laporan keuangan menurun sehingga investor dari berbagai negara sulit untuk mengambil keputusan investasi. Muncullah IFRS sebagai standar akutansi global sebagai acuan dalam menghasilkan pelaporan keuangan yang berkualitas. Penelitian ini bertujuan untuk melakukan analisis mengenai ada tidaknya perbedaan signifikan antara nilai Earning Response Coefficient (ERC) sebelum dan sesudah adopsi IFRS pada perusahaan yang tercatat di Bursa Efek Indonesia (BEI). ERC digunakan sebagai proksi untuk melihat reaksi pasar. Data yang digunakan dalam penelitian ini merupakan data sekunder berupa laporan keuangan tahunan dan harga saham bulanan. Sampel yang digunakan dalam penelitian ini adalah perusahaan yang terdaftar di BEI pada tahun 2009 hingga 2014. Pemilihan sampel didasarkan pada metode purposive sampling dengan kriteria yang telah ditentukan. Hasil penelitian ini membuktikan bahwa tidak terdapat perbedaan yang signifikan antara ERC sebelum dan sesudah adopsi IFRS ke dalam PSAK pada perusahaan yang terdaftar di BEI.Kata Kunci: IFRS, Earnings Response Coefficient, Laba, PSAK, Reaksi Pasar. Abstract Convergence of International Financial Reporting Standards (IFRS) causes the Pedoman Standar Akuntansi Keuangan (PSAK) undergo some changes. This then leads to differences in comparability of financial statements declining so that investors from various countries is difficult to make investment decisions. Then appeared IFRS as the global accounting standards as a reference in generating quality of financial reporting. This study aimed to analyze whether there was a significant difference between the value of Earning Response Coefficient (ERC) before and after the adoption of IFRS on the companies listed on the Indonesia Stock Exchange. ERC is used as a proxy to see the market reaction. The data used in this research is secondary data in the form of annual financial statements and monthly stock prices. The sample used in this study is a company listed on the Indonesia Stock Exchange (IDX) in 2009 to 2014. The sample selection was based on a random sampling method with predetermined criteria. The results of this study prove that there was no significant difference between the ERC before and after the adoption of IFRS into the FRS companies listed on the Stock Exchange.Keywords: IFRS, Earnings Response Coefficient, Earnings, PSAK, Market Reaction.

scholarly journals ANALISIS PERBEDAAN KUALITAS ACCRUAL ANTARA SEBELUM DAN SESUDAH PENGADOPSIAN INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) PADA PERUSAHAAN MANUFAKTUR DI INDONESIA(Studi Empiris pada Perusahaan Manufaktur yang terdapat di Bursa Efek Indonesia Tahun 2009-2014)

2017 ◽  
Vol 2 (1) ◽  
pp. 42-48
Author(s):  
Esti Windarti ◽  
Noer Sasongko ◽  
Zulfikar Zulfikar
Keyword(s):  
Financial Reporting ◽  
Transition Period ◽  
Stock Exchange ◽  
T Test ◽  
Manufacturing Companies ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Paired Sample ◽  
Before And After ◽  
The Difference

The purpose of this study to examine the numbers between the accrual quality difference before and after adopting International Financial Reporting Standards (IFRS). The population in this study are all manufacturing companies listed in Indonesia Stock Exchange 2009-2014. Sampling using purposive sampling selection of samples with specific criteria.Analysis of the data used is by using normality test and analysis methods paired sample t-test. Calculation of accruals quality using the 2 models that Dechow and Dichev Model and Modified Jones Models. From the test results showed that there was a difference in quality between the accrual before and after adopting International Financial Reporting Standard (IFRS) for 2009-2014 by using Dechow and Dichev Model, while contrary to the results of testing using the Modified Jones Model. The difference is due to the result of the absence of a change in accounting rules and the transition period that occurred in Indonesia. Keywords: Quality acrual , International Financial Reporting Standard ( IFRS ), Manufacturing Company , Paired Sample T -test

scholarly journals Earning Management Analysis before and after Implementation of International Financial Reporting Standards (IFRS): Empirical Study of Automotive and Components Companies Registered on the IDX

2019 ◽  
Vol 1 (01) ◽  
pp. 45-56
Author(s):  
I Wayan Wisnu Utama ◽  
Anis Purwanti
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Management Practices ◽  
Stock Exchange ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Reporting Standard ◽  
Financial Reporting Standards ◽  
Before And After

  The issue of the application of IFRS as a standard can encourage a decrease in the level of earnings management in a company so that the application of IFRS in financial statements has the purpose of providing reports that are faithful in nature so that the report users are reliable. The purpose of this study is to show a comparison of earnings management practices that occurred before and after the implementation of International Financial Reporting Standards (IFRS) in Automotive and Component companies registered in the Indonesia Stock Exchange (IDX) for the period of 2009-2014. The data used in this study are secondary data in the form of the company’s financial statements. The variables in this study are earnings management before and after IFRS implementation. The sampling method in this study was purposive sampling with a sample of 12 automotive and component companies on the Indonesia Stock Exchange. Discretionary accruals of Modified Jones Model is used to measure the earnings management. The analytical method used for hypothesis testing is Paired Sample T-test, a different test for two paired samples. The results of this study indicate that earnings management in the period after IFRS convergence was different than earnings management in the period before IFRS convergence in Automotive and Component companies. However, IFRS convergence has not guaranteed a decline in earnings management practices in Automotive and Component companies.  Keywords: Earnings Management, International Financial Reporting Standard, Discretionary Accrual

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