Sample selection
| IFRS 9 country | Obs | Non-IFRS 9 country (Obs) | |
|---|---|---|---|
| Australia | 3,600 | Brazil | 1,220 |
| Belgium | 340 | China | 4,464 |
| Denmark | 480 | India | 2,964 |
| Finland | 528 | Indonesia | 1,068 |
| France | 1,892 | Japan | 1,992 |
| Germany | 1,984 | Malaysia | 984 |
| Greece | 580 | Mexico | 372 |
| Italy | 484 | Thailand | 828 |
| Netherlands | 260 | United States | 4,768 |
| Norway | 320 | ||
| South Africa | 756 | ||
| Spain | 532 | ||
| Sweden | 1,800 | ||
| Switzerland | 608 | ||
| United Kingdom | 4,504 | ||
| 18,668 | 18,660 | ||
| IFRS 9 country | Obs | Non-IFRS 9 country (Obs) | |
|---|---|---|---|
| Australia | 3,600 | Brazil | 1,220 |
| Belgium | 340 | China | 4,464 |
| Denmark | 480 | India | 2,964 |
| Finland | 528 | Indonesia | 1,068 |
| France | 1,892 | Japan | 1,992 |
| Germany | 1,984 | Malaysia | 984 |
| Greece | 580 | Mexico | 372 |
| Italy | 484 | Thailand | 828 |
| Netherlands | 260 | United States | 4,768 |
| Norway | 320 | ||
| South Africa | 756 | ||
| Spain | 532 | ||
| Sweden | 1,800 | ||
| Switzerland | 608 | ||
| United Kingdom | 4,504 | ||
| 18,668 | 18,660 | ||
Note(s): This Appendix presents the sample selection procedure for the study. Due to the relative short window of the study, firms with missing data for any year were dropped. Non-financial firms were selected based on their SIC code available in Compustat at the time of downloading the data
Source(s): Created by author