Impacto de los estándares internacionales de información financiera en la calidad contable:: evidencia desde Latinoamérica y el Caribe

• Juan Camilo Cardona Montoya ^[1] ; Andrés Felipe Gómez Sánchez ^[1] ; Abel María Cano Morales ^[2]
  1. [1] St. Bonaventure University

     St. Bonaventure University

     Town of Allegany, Estados Unidos

     
  2. [2] Universidad de Medellín

     Universidad de Medellín

     Colombia

     
• Localización: Contaduría y administración, ISSN 0186-1042, ISSN-e 2448-8410, Vol. 64, Nº. 4, 2019
• Idioma: español
• Títulos paralelos:
  • The impact of international financial reporting standards on accounting quality: Evidence from Latin America and the Caribbean
• Enlaces
  • Texto completo (pdf)
• Dialnet Métricas: 12 Citas
• Resumen
  • español

    Este artículo examina el impacto de la aplicación de los Estándares Internacionales de Información Financiera (IFRS) en la calidad contable (calidad del reporte financiero) de las economías latinoamericanas y del Caribe, respecto a su marco normativo local (Local GAAP); usando una muestra de compañías cotizadas en Latinoamérica y el Caribe durante los periodos 2006-2016, se valora la calidad contable bajo tres criterios de medición: la manipulación del resultado, el reconocimiento oportuno de pérdidas (atributos contables) y la relevancia valorativa (atributos de mercado). Los hallazgos sugieren un mejoramiento parcial de la calidad contable, evidenciado a través de una disminución en el nivel de manipulación del resultado sólo después de varios años de aplicación de IFRS. Sin embargo, no se evidencia mayor oportunidad al reconocer grandes pérdidas, al tiempo que, la información contable generada bajo los estándares IFRS, no es valorada con mayor utilidad por los agentes de mercado

  • English

    This paper examines the impact of the application of International Financial Reporting Standards (IFRS) on accounting quality (financial report quality) of Latin American and Caribbean economies, regarding to their local accounting regulatory standards (Local GAAP). By using a sample of listed companies in Latin America and the Caribbean from 2006 to 2016, accounting quality is assessed under three measurement criteria: earnings management, timely loss recognition (accounting attributes) and value relevance (market attributes). The findings suggest a partial accounting quality improvement; it is showed through a decrease on the level of earnings management only after several years of the IFRS application. However, there is no evidence of a greater opportunity to recognize large losses; furthermore, the generated accounting information under IFRS is not valued, with greater usefulness by market agents.

• Referencias bibliográficas
  • Abdullah, W. R. W., Maruhun, E. N. S., & Tarmizi, M. A. (2017). The Adoption of IFRS and Earnings Management: Evidence from The Construction...
  • Ahmed, A. S., Neel, M., & Wang, D. (2013). Does mandatory adoption of IFRS improve accounting quality? Preliminary evidence. Contemporary...
  • Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., & Riedl, E. J. (2010). Market reaction to the adoption of IFRS in Europe. The accounting...
  • Aubert, F., & Grudnitski, G. (2011). The impact and importance of mandatory adoption of international financial reporting standards in...
  • Ball, R. (2001). Infrastructure requirements for an economically efficient system of public financial reporting and disclosure. Brookings-Wharton...
  • Ball, R., Robin, A., & Wu, J. S. (2003). Incentives versus standards: properties of accounting income in four East Asian countries. Journal...
  • Ball, R., & Shivakumar, L. (2005). Earnings quality in UK private firms: comparative loss recognition timeliness. Journal of accounting...
  • Barth, M. E., Landsman, W. R., & Lang, M. H. (2008). International accounting standards and accounting quality. Journal of Accounting...
  • Barth, M. E., Landsman, W., Lang, M., & Williams, C. (2006). Accounting quality: International accounting standards and US GAAP. Manuscript,...
  • Bartov, E., Goldberg, S. R., & Kim, M. (2005). Comparative value relevance among german, US, and international accounting standards: A...
  • Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics, 24(1), 3-37. http://doi.org/10.1016/S0165-4101(97)00014-1
  • Brad, L., Dobre, F., Å¢urlea, C., & Braşoveanu, I. V. (2014). The impact of IFRS adoption in Romania upon the earnings management of...
  • Burgstahler, D. C., Hail, L., & Leuz, C. (2006). The importance of reporting incentives: Earnings management in European private and public...
  • Burgstahler, D., & Dichev, I. (1997). Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics,...
  • Bushman, R. M., Piotroski, J. D., & Smith, A. J. (2004). What determines corporate transparency?. Journal of accounting research, 42(2),...
  • Bushman, R. M., & Piotroski, J. D. (2006). Financial reporting incentives for conservative accounting: The influence of legal and political...
  • Cahan, S. F., Emanuel, D., & Sun, J. (2009). The effect of earnings quality and country-level institutions on the value relevance of earnings....
  • Cairns, D. (1999). Degrees of compliance. Accountancy International, 124(1273), 114-118.
  • Capkun, V., Collins, D., & Jeanjean, T. (2016). The effect of IAS/IFRS adoption on earnings management (smoothing): A closer look at competing...
  • Cardona Montoya, J. (2018). Impacto de las IFRS en la calidad del reporte financiero en Latinoamérica y el Caribe. Contaduría y Administración,...
  • Cardona Montoya, J. C., & Cano Morales, A. M. (2017). The impact of international financial reporting standards on canadian accounting...
  • Christensen, H. B., Lee, E., Walker, M., & Zeng, C. (2015). Incentives or standards: What determines accounting quality changes around...
  • Chua, Y. L., Cheong, C. S., & Gould, G. (2012). The impact of mandatory IFRS adoption on accounting quality: Evidence from Australia....
  • Conesa, I. M., Manzano, M. P., & Sánchez, H. G. (2011). La calidad del resultado pre y post-adaptación a las IFRS en México por el CINIF....
  • da Silva, J. P., Borges, T. J. G., de Souza Gonçalves, R., & do Nascimento, D. V. R. (2017). Convergence to IFRS standard and smoothing...
  • Devalle, A., Onali, E., & Magarini, R. (2010). Assessing the value relevance of accounting data after the introduction of IFRS in Europe....
  • Dimitropoulos, P. E., Asteriou, D., Kousenidis, D., & Leventis, S. (2013). The impact of IFRS on accounting quality: Evidence from Greece....
  • Ebrahim, A. (2007). Earnings management and board activity: an additional evidence. Review of Accounting and Finance, 6(1), 42-58. http://doi.org/10.1108/14757700710725458
  • Ewert, R., & Wagenhofer, A. (2011). Earnings quality metrics and what they measure. SSRN Electronic Journal, 1-62. http://doi.org/10.2139/ssrn.1697042
  • Francis, J. R., Khurana, I. K., & Pereira, R. (2003). The role of accounting and auditing in corporate governance and the development...
  • Francis, J., Olsson, P., & Schipper, K. (2008). Earnings quality. Foundations and Trends® in Accounting, 1(4), 259- 340. http://doi.org/10.1561/1400000004
  • Fuad, & Wijanarto, W. T. (2017). How mandatory IFRS adoption changes firms’ opportunistic behavior: empirical evidences from the earnings...
  • Günther, N., Gegenfurtner, B., Kaserer, C., & Achleitner, A. (2009). International financial reporting standards and earnings quality:...
  • Hail, L., Leuz, C., & Wysocki, P. (2010). Global accounting convergence and the potential adoption of IFRS by the US (Part I): Conceptual...
  • Halabi, H., & Yi, L. (2015). Mandatory IFRS adoption and earnings quality: The impact of country-specific factors. European Financial...
  • Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting...
  • Hellstrὄm, K. (2006). The value relevance of financial accounting information in a transition economy: The case of the Czech Republic. European...
  • Houqe, M. N., van Zijl, T., Dunstan, K., & Karim, A. W. (2012). The effect of IFRS adoption and investor protection on earnings quality...
  • Hove, M. R. (1990). The Anglo-American influence on international accounting standards: The case of the disclosure standards of the international...
  • Iatridis, G. (2008). Implementation of international financial reporting standards and the quality of financial statement information; an...
  • Iatridis, G. (2010). International financial reporting standards and the quality of financial statement information. International Review...
  • Iatridis, G., & Rouvolis, S. (2010). The post-adoption effects of the implementation of international financial reporting standards in...
  • Isidro, H., Nanda, D., & Wysocki, P. D. (2016). Financial Reporting Differences Around the World: What Matters?. SSRN Electronic Journal....
  • Klann, R. C., & Beuren, I. M. (2015). The impact of the international accounting convergence on income smoothing in brazillian companies....
  • Klein, A. (2002). Audit committee, board of director characteristics, and earnings management. Journal of accounting and economics, 33(3),...
  • Kothari, S. P. (2000). The role of financial reporting in reducing financial risks in the market. Conference Series-Federal Reserve Bank of...
  • Land, J., & Lang, M. H. (2002). Empirical evidence on the evolution of international earnings. The Accounting Review, 77(s-1), 115-133....
  • Lang, M., Raedy, J. S., & Wilson, W. (2006). Earnings management and cross listing: Are reconciled earnings comparable to US earnings?....
  • Lang, M., Raedy, J. S., & Yetman, M. H. (2003). How representative are firms that are cross‐listed in the United States? An analysis...
  • La Porta, R., Lopez DeSilanes, F., Shleifer, A., & Vishny, R. W. (1997). Legal determinants of external finance. Journal of Finance, 52(3),...
  • La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (2000). Investor protection and corporate governance. Journal of financial...
  • La Porta, R., Lopez-de-Silanes, F., Pop-Eleches, C., & Shleifer, A. (2004). Judicial checks and balances. Journal of Political Economy,...
  • Leuz, C. (2010). Different approaches to corporate reporting regulation: How jurisdictions differ and why. Accounting and business research,...
  • Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: An international comparison. Journal of Financial...
  • Leuz, C., & Wysocki, P. D. (2016). The economics of disclosure and financial reporting regulation: Evidence and suggestions for future...
  • Lin, S., Riccardi, W., & Wang, C. (2012). Does accounting quality change following a switch from US GAAP to IFRS? Evidence from Germany....
  • Liu, C., Yao, L. J., Hu, N., & Liu, L. (2011). The impact of IFRS on accounting quality in a regulated market: An empirical study of China....
  • Melgarejo, M. (2017). Additional Evidence on the Impact of the International Financial Reporting Standards on Earnings Quality: Evidence from...
  • Ohlson, J. A. (1995). Earnings, book values, and dividends in equity valuation. Contemporary Accounting Research, 11(2), 661-687. http://doi.org/10.1111/j.1911-3846.1995.tb00461.x
  • Paananen, M. (2008). The IFRS adoption’s effect on accounting quality in Sweden. SSRN Electronic Journal. http://doi.org/10.2139/ssrn.1097659
  • Paananen, M., & Lin, H. (2009). The development of accounting quality of IAS and IFRS over time: The case of Germany. Journal of International...
  • Palacios Manzano, M., & Martinez Conesa, I. (2014). Assessing the impact of IFRS adaptation on earnings management: An emerging market...
  • Peasnell, K. V., Pope, P. F., & Young, S. (2005). Board monitoring and earnings management: Do outside directors influence abnormal accruals?....
  • Pelucio-Grecco, M. C., Geron, C. M. S., Grecco, G. B., & Lima, J. P. C. (2014). The effect of IFRS on earnings management in Brazilian...
  • Piot, C., Janin, R., & Dumontier, P. (2010). IFRS consequences on accounting conservatism within Europe. CAAA Annual Conference 2011....
  • Porta, R. L., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of political economy, 106(6), 1113-1155....
  • Reverte, C. (2008). Institutional differences in EU countries and their relationship with earnings management differences: Implications for...
  • Santana, V. d. F., Rathke, A.A.T., Laurenço, I., & Dalmmcio, F.Z. (2014). IFRS accounting quality in Latin America: A comparison with...
  • Schipper, K. (1989). Commentary on earnings management. Accounting Horizons, 3(4), 91-102. Disponible en: https://search.proquest.com/openview/177246e104b43553542ab048997f1a4e/1?pq-origsite=gscholar&cbl=3330...
  • Temiz, H., & Güleç, Ö. F. (2017). Mandatory adoption of IFRS in emerging markets: the case of Turkey. Accounting and Management Information...
  • Trueman, B., & Titman, S. (1988). An explanation for accounting income smoothing. Journal of Accounting Research, 26(Supl.), 127-139....
  • Vieira, R., Martins, V., Machado, A., & Domingues, J. (2011). Impacts of partial adoption of IFRS in Brazil: Effects on financial information...
  • World Economic Forum. (2017). The Global competitiveness report 2017-2018. Disponible en: http://reports.weforum.org/global-competitiveness-index-2017-2018...
  • Wysocki, P. (2011). New institutional accounting and IFRS. Accounting and business research, 41(3), 309-328. http://doi.org/10.1080/00014788.2011.575298
  • Zeghal, D., Chtourou, S. M., & Fourati, Y. M. (2012). The effect of mandatory adoption of IFRS on earnings quality: Evidence from the...
  • Zhou, H., Xiong, Y., & Ganguli, G. (2009). Does the adoption of international financial reporting standards restrain earnings management?...