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The Value and Credit Relevance of IFRS versus J-GAAP Accounting Information

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  • KIM, Jonghoon
  • 金, 鐘勲
  • KOGA, Yuya
  • 古賀, 裕也

Abstract

This paper examines which accounting information -one is accounting information based on Japanese GAAP (JGAAP) and the other is those based on IFRS- better explains total market capitalizations of firms’ common stock and credit ratings issued by credit-rating agencies. Our results are as follows. First, both value and credit rating relevance of IFRS-based net income measures are statically significantly lower than those based on JGAAP. Second, IFRS-based net income measures incrementally lower the credit rating relevance of accounting information. These results suggest that both value and credit rating relevance of net income information of Japanese firms could become impaired by the adoption of IFRS.

Suggested Citation

  • KIM, Jonghoon & 金, 鐘勲 & KOGA, Yuya & 古賀, 裕也, 2017. "The Value and Credit Relevance of IFRS versus J-GAAP Accounting Information," Working Paper Series 217, Management Innovation Research Center, School of Business Administration, Hitotsubashi University Business School.
    • Handle: RePEc:hit:hmicwp:217
    Note: Withdrawn due to publication in "Hitotsubashi Journal of Commerce and Management" Vol.53 No.1. [Mar. 2, 2020], 『Hitotsubashi Journal of Commerce and Management』 Vol.53 No.1 に掲載のため、論文データ（PDF）を取り下げ。[2020/3/2]
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    Keywords

    IFRS; Voluntary Adoption; Japanese Firms; Value Relevance; Credit Relevance;
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