Ernstberger, Jürgen and Vogler, Oliver (2008) Analyzing the German accounting triad — “Accounting Premium” for IAS/IFRS and U.S. GAAP vis-à-vis German GAAP? The International Journal of Accounting 43 (4), pp. 339-386.
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This paper critically examines the impact of voluntary adoption of Internationally Accepted Accounting Principles (IAAP, i.e., IAS/IFRS and U.S. GAAP) on the cost of equity capital in Germany. We find that (1) overall cost of equity-capital estimates in the Capital Asset Pricing Model (CAPM) for companies applying IAAP are significantly lower compared to those applying German GAAP, (2) an ...
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|Institutions:||Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Financial Accounting and Auditing (Prof. Dr. Axel Haller)|
|Keywords:||Accounting regime adoption; Cost of equity capital; Multi-factor model; IFRS; U.S. GAAP; Germany|
|Subjects:||300 Social sciences > 330 Economics|
|Created at the University of Regensburg:||Unknown|
|Deposited On:||18 Jun 2009 10:25|
|Last Modified:||26 Oct 2009 16:26|