采用国际会计准则财务报表的影响：德国的情况【外文翻译】

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1、外文翻译Financialstatementeffectsofadoptinginternationalaccountingstandards:thecaseofGermanyMaterialSource:http://springer.lib.tsinghua.edu.cn/Author:MingyiHung·K.R.Subramanyam1IntroductionAsofJanuary1,2005,alllistedcompaniesintheEuropeanUnionarerequiredtopreparetheirfinancialstatementsinaccordancewithI

2、nternationalAccountingStandards(IAS)(Hofheinz2002).IASadoptionbytheEuropeanUnionisoneofthebiggesteventsinthehistoryoffinancialreporting,makingIASthemostwidelyacceptedfinancialaccountingmodelintheworld.Accordingly,thereisanurgentneedformanagersandinvestorstounderstandtheimplicationsofIASadoption.This

3、isespeciallytrueinEuropeancountrieswithstakeholder-orientedaccountingsystems(suchasGermanyandFrance),asIASisheavilyinfluencedbytheshareholder-orientedAnglo-Saxonaccountingmodel,whereaslocalstandardsinmanyEuropeancountrieshaveagreatercontractingorientationandaredrivenbytax-bookconformityconsideration

4、s.TheobjectiveofourpaperistoexaminethefinancialstatementeffectsofadoptingIASinEuropeancountrieswithstakeholder-orientedaccountingsystems.Weconductourinvestigationusingasampleof80GermanfirmsthatadoptIASforthefirsttimeduringthe1998through2002period.Specifically,weinvestigatetheeffectsofIASadoptiononfi

5、nancialstatementsby(1)documentingthefinancialstatementchangesprecipitatedbyIASadoptionand(2)examiningtheeffectsofthesechangesonthepropertiesoffinancialstatementinformation.Examiningfinancialstatementimplicationsisimportantbecause,whileIASadoptionmightleadtoindirecteconomicconsequencessuchashighermar

6、ketliquidityorlowercostofcapital,theonlydirecteffectsofadoptingIASarechangedfinancialstatements(andrelatedfootnotedisclosures).WelimitourinvestigationtoGermanyprimarilytoovercomeproblemsassociatedwithcomparingacrosscountrieswithdifferentinstitutionalenvironments.Inaddition,Germanyisparticularlywells

7、uitedforourempiricalinvestigationforseveralreasons.First,GermanyprovidesanidealnaturalexperimentforexaminingthefinancialstatementeffectsofIASadoptionincountrieswithstakeholder-orientedaccountingsystem