2011 Awards for Excellence
Article Type: 2011 Awards for Excellence From: Pacific Accounting Review, Volume 24, Issue 1
The following article was selected for this year’s Outstanding Paper Award for Pacific Accounting Review
“The impact of IFRS on financial analysts’ forecast accuracy in the Asia-Pacific region: the case of Australia, Hong Kong and New Zealand”
Chee Seng CheongBusiness School, University of Adelaide, Adelaide, Australia
Sujin KimBusiness School, University of Adelaide, Adelaide, Australia
Ralf ZurbrueggBusiness School, University of Adelaide, Adelaide, Australia
Purpose -- This paper aims to provide an investigation into whether financial analysts’ forecast accuracy differs between the pre- and post-adoption of the international financial reporting standards (IFRS) in the Asia-Pacific region, namely, for the countries of Australia, Hong Kong and New Zealand. In particular, this study seeks to examine whether the treatment of intangibles capitalized in the post-IFRS period have positively aided analysts in forecasting future earnings of a firm.Design/methodology/approach-- Panel data analysis is applied over a period from 2001 to 2008.Findings-- Evidence is found to show intangibles capitalized under the new recognition and measurement rules of IFRS are negatively associated with analysts’earnings forecast errors. The results are robust to several model specifications across each of the countries, suggesting that the adoption of IFRS may indeed provide more value-relevant information in financial statements for the users of financial reports.Originality/value -- This paper is conducted on only one component manufactured by an electronic switches manufacturing organization. Although it appears to be a limitation of this paper, the nature of the design process carried out in this traditional organization mimics that of any other design practices carried out in the world. Hence, the contributions of this paper are applicable in traditional manufacturing environment.
Keywords: Financial analysis, Financial forecasting,International standards, Pacific region
This article originally appeared in Volume 22 Number 2, 2010, pp. 124 - 46, Pacific Accounting Review
The following articles were selected for this year’s Highly Commended Award
“New Zealand unit trust disclosure: asset allocation, style analysis, and return attribution”
Ross Fowler, Robin Grieves and J. Clay Singleton
This article originally appeared in Volume 22 Number 1, 2010, Pacific Accounting Review
Outstanding Reviewer
Qian SunDepartment of Finance, School Of Management, Fudan University, Shanghai, China
