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| Terence Tai-Leung Chong, Winnie S. C. Leung, Rita W. Y. Yip and Howard Z. Huang |
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| ''Is the Convergence of Accounting Standards Good for Stock Markets?'' |
| ( 2009, Vol. 29 No.3 ) |
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| This paper examines the impact of the convergence of Hong Kong Accounting Standard 40 (HKAS 40) with the International Financial Reporting Standard (IFRS) on the stock prices of firms in the property industry. Using a sample of 22111 firm-day observations, we show that the new standard has a negative impact on the stock performance of these firms. |
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| Keywords: Hong Kong Accounting Standard 40, Event Window, Stock Return. |
JEL: M4 - Accounting and Auditing: General
N2 - Economic History: Financial Markets and Institutions: General, International, or Comparative |
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| Manuscript Received : Oct 20 2008 | | Manuscript Accepted : Aug 24 2009 |
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