Effects of the Adoption of IFRS on the Credit Market: Evidence from Brazil |
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| Authors: | Vinícius Simmer de Lima Gerlando Augusto Sampaio Franco de Lima Giorgio Gotti |
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| Affiliation: | 1. University of Sao Paulo, Av. Prof. Luciano Gualberto, 908, Cidade Universitária, FEA, São Paulo - SP 05508-010, Brazil;2. University of Illinois at Urbana-Champaign, 86 Wohlers Hall, 1206 South Sixth Street, Champaign, IL, 61820, United States;3. University of Texas at El Paso, 500 West University Avenue, El Paso, TX 79968, United States |
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| Abstract: | Based on a sample of approximately 6500 credit ratings and 137,000 loan contracts, this paper analyzes the effects of mandatory IFRS adoption on the Brazilian credit market. We find that the IFRS adoption effects were limited to firms displaying improved accounting information quality at the time of transition, lending support to the notion that economic benefits do not necessarily flow from the publication of financial reports in IFRS but, rather, depend on how earnestly firms adopt the recommended disclosure practices. |
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| Keywords: | IFRS Credit market Accounting information quality |
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