International Financial Reporting Standards and Cross-Border Mergers and Acquisitions

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dc.contributor.advisorGordon, Lawrence Aen_US
dc.contributor.advisorLoeb, Martin Pen_US
dc.contributor.authorZhu, Wenjieen_US
dc.contributor.departmentBusiness and Management: Accounting & Information Assuranceen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2012-07-07T06:18:55Z
dc.date.available2012-07-07T06:18:55Z
dc.date.issued2012en_US
dc.description.abstractThis dissertation investigates the economic impact of global accounting harmonization. Particularly I focus on its influence on macro level cross-border M&A investments. I posit that mandatory IFRS adoption lowers the systemic information noise embedded in countries' accounting standards. This reduces the associated information processing costs and enhances the economic role accounting standards play on cross-border M&A flows. After mandatory IFRS adoption, a 1% increase in accounting standards disparity suppresses bilateral M&A flows by around 2%; decrease in accounting standards disparity helps promote bilateral M&A flows when paired countries' governance infrastructure gap is relatively wider. I do not find these associations significant prior to mandatory IFRS adoption. Overall, this dissertation documents an evolving economic role accounting standards play on bilateral cross-border M&A flows, and supports International Accounting Standards Board's advocacy in adopting a uniform set of accounting standards globally. Moreover, it further analyses the current adoption demand for IFRS from the U.S. firms.en_US
dc.identifier.urihttp://hdl.handle.net/1903/12754
dc.subject.pqcontrolledAccountingen_US
dc.subject.pqcontrolledEconomicsen_US
dc.subject.pqcontrolledFinanceen_US
dc.titleInternational Financial Reporting Standards and Cross-Border Mergers and Acquisitionsen_US
dc.typeDissertationen_US

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