The impact of accounting standards convergence on Chinese firms’ overseas mergers and acquisitions

• 作者: Hailong Zhao Shuwei Sun Xianjie He Ying Zhang
• 来源期刊: 中国会计学刊:英文版
• 学科: 经济
• 关键词: ACCOUNTING STANDARDS CONVERGENCE OVERSEAS mergers and ACQUISITIONS Comparability of ACCOUNTING information
• 年，卷（期）: 2019,（3）
• 页码范围: 231-250
• 页数: 20页
• 分类号: F279.2

摘要

This paper investigates how accounting standards(AS) convergence influences Chinese firms’ overseas mergers and acquisitions(M&As) and shows that this convergence significantly promotes Chinese firms’ overseas M&As.Specifically, we find that both the probability of success and the value of transactions increases significantly in countries that implemented International Financial Reporting Standards(IFRS) prior to 2007.These results suggest that accounting standards(AS) convergence can improve the comparability of accounting information between China and other countries that have adopted IFRS.Moreover, we find that the impact of accounting standards(AS) convergence on state-owned enterprise(SOE) acquirers is weak.These findings demonstrate that accounting standards(AS) convergence can facilitate Chinese firms’ overseas M&As by improving the comparability of accounting information between China and target countries.