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Effects of the Adoption of IFRS on the Credit Market: Evidence from Brazil


  • de Lima, Vinícius Simmer
  • de Lima, Gerlando Augusto Sampaio Franco
  • Gotti, Giorgio


Based on a sample of approximately 6500 credit ratings and 137,000 loan contracts, this paper analyzes the effects of mandatory IFRS adoption on the Brazilian credit market. We find that the IFRS adoption effects were limited to firms displaying improved accounting information quality at the time of transition, lending support to the notion that economic benefits do not necessarily flow from the publication of financial reports in IFRS but, rather, depend on how earnestly firms adopt the recommended disclosure practices.

Suggested Citation

  • de Lima, Vinícius Simmer & de Lima, Gerlando Augusto Sampaio Franco & Gotti, Giorgio, 2018. "Effects of the Adoption of IFRS on the Credit Market: Evidence from Brazil," The International Journal of Accounting, Elsevier, vol. 53(2), pages 77-101.
  • Handle: RePEc:eee:accoun:v:53:y:2018:i:2:p:77-101
    DOI: 10.1016/j.intacc.2018.04.001

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    Cited by:

    1. Bertrand, Jérémie & de Brebisson, Hélène & Burietz, Aurore, 2021. "Why choosing IFRS? Benefits of voluntary adoption by European private companies," International Review of Law and Economics, Elsevier, vol. 65(C).
    2. Vincent Tawiah & Ernest Gyapong, 2023. "International financial reporting standards, domestic debt finance and institutional quality: Evidence from developing countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 2915-2936, July.
    3. Chiu, She-Chih & Lin, Hsuan-Chu & Chien, Chin-Chen & Liang, Chia-Chen, 2022. "Does Form 20-F reconciliation elimination for IFRS filers affect the risk forecasting ability of accounting numbers?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).


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