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When cross-listed firms report property, plant and equipment at fair market value, do they experience the economic benefit in terms of lower cost of equity capital?

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Item Summary

Title: When cross-listed firms report property, plant and equipment at fair market value, do they experience the economic benefit in terms of lower cost of equity capital?
Authors: Hlaing, Khin Phyo
Keywords: fair markets valuation
economic benefits
equity capital
Issue Date: Dec 2010
Publisher: [Honolulu] : [University of Hawaii at Manoa], [December 2010]
Abstract: Our research focuses on two issues. First, we examine why some foreign firms listed in the U.S. use fair market valuation for Property, Plant and Equipment, one important item of non-financial assets, while other foreign firms do not when the fair value option for non-financial assets is allowed under IFRS. We do this analysis by comparing the fundamental economic characteristics between these two groups of foreign firms (adopters/revaluers vs. non-adopters/non-revaluers) listed in the U.S. stock exchanges. Second, we test whether the use of fair market valuation by those foreign firms reduces their cost of capital. We do this analysis by comparing the cost of capital of listed foreign firms with that of the matching listed U.S. firms.
Description: M.Acc. University of Hawaii at Manoa 2010.
Includes bibliographical references.
URI/DOI: http://hdl.handle.net/10125/101789
Appears in Collections:M.A. - Accounting



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