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| Content Provider | Springer Nature Link |
|---|---|
| Author | Campos Espiza, Ricardo de la Fuente Mella, Hanns Silva Palavecis, Berta Cademartori Rosso, David |
| Copyright Year | 2015 |
| Abstract | The purpose of this paper is to measure the effects of adopting International Financial Reporting Standards (IFRS) on market transparency and in information asymmetry reduction. The spread (bid-ask) on intra-day shares from the Santiago Stock Exchange for 2007-2012 is used as a proxy for information asymmetry. The paper analyzes the relation between the spread and the quality of information provided to the capital markets, which are measured by two information disclosure indices (DIS and Botosan), and the relation between the spread and IFRS adoption, also using a group of control variables. We conclude that the disclosure of financial information, which is considered to be a significant element of the quality of corporate governance, and the adoption of IFRS have a negative relation with the spread. This paper contributes to the literature by analyzing this phenomenon in a market characterized by a high concentration of ownership in a country whose legislation protects minority shareholder rights and by using intra-day data to capture spread behavior. |
| Starting Page | 193 |
| Ending Page | 204 |
| Page Count | 12 |
| File Format | |
| ISSN | 13859587 |
| Journal | NETNOMICS: Economic Research and Electronic Networking |
| Volume Number | 16 |
| Issue Number | 3 |
| e-ISSN | 15737071 |
| Language | English |
| Publisher | Springer US |
| Publisher Date | 2015-12-16 |
| Publisher Place | New York |
| Access Restriction | Subscribed |
| Subject Keyword | Information asymmetry Spread (bid-ask) Information disclosure Econometric modeling Economic Theory/Quantitative Economics/Mathematical Methods Data Structures, Cryptology and Information Theory IT in Business Economic Growth e-Commerce/e-business |
| Content Type | Text |
| Resource Type | Article |
| Subject | Computer Networks and Communications Economics and Econometrics Information Systems |
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