Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/88040
Title: Home and foreign host country IFRS adoption and cross-delisting
Authors: Kanagaretnam, K
Kong, X
Tsang, A 
Issue Date: 2020
Source: Journal of international business studies, 2020, v. 51, p. 1008-1033
Abstract: This study examines whether and how the mandatory adoption of international financial reporting standards (IFRS) affects a firm’s cross-delisting decision. Using a comprehensive sample of international cross-delistings, we show that mandatory IFRS adoption in the cross-listing host countries of multinational enterprises (MNEs) increases the delisting propensity of non-IFRS-reporting firms. In contrast, mandatory IFRS adoption in both home and host countries of cross-listing firms decreases the delisting propensity of MNEs in the post-IFRS period. The results of cross-sectional tests further suggest that the increased cross-delisting propensity for domestic GAAP-reporting firms post-IFRS adoption in foreign host countries is more pronounced for firms with a greater difference between domestic GAAP and IFRS. Overall, our results show the differential effects of IFRS adoption in home/host countries of MNEs on their cross-delisting decisions.
这项研究调查是否强制采用国际财务报告标准(IFRS)以及该标准如何影响公司的交叉摘牌决定。通过使用国际交叉摘牌的综合样本, 我们表明, 跨国企业(MNE)的交叉挂牌东道国强制采用IFRS会增加非IFRS报告公司的摘牌倾向。相比之下, 交叉上市公司在本国和东道国强制采用IFRS会降低跨国企业在后IFRS时期的退市倾向。横截面测试的结果进一步表明,对于在国内GAAP和IFRS之间有较大差异的公司, 国内GAAP报告公司在外国东道国采用IFRS后的交叉摘牌倾向增加。总体而言, 我们的结果表明, 在跨国企业的母国/东道国采用IFRS对其交叉摘牌决策的影响不同。
Keywords: Mandatory IFRS adoption
Delisting
Cross-listing
Analysts following
Institutional ownership
Publisher: Springer
Journal: Journal of international business studies 
ISSN: 0047-2506
EISSN: 1478-6990
DOI: 10.1057/s41267-019-00300-1
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