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IFRS Adoption and the Choice Between Public and Private Debt: Evidence from South Korea

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  • Kyoungwon Mo
  • Jaehong Lee

Abstract

This article examines the association between mandatory International Financial Reporting Standards (IFRS) adoption and corporate choice between public debt and private debt. If IFRS adoption increases the quality of lenders’ information environment provided on financial statements, firms are more likely to access the public debt market. Using a sample of public and private debts financing firms from 2000 to 2014 in Korea, we find that firms that file financial reports under the IFRS are less likely to finance from public debt markets, implying that the mandatory IFRS adoption has exacerbated the information environment of the public debt market in Korea.

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  • Kyoungwon Mo & Jaehong Lee, 2018. "IFRS Adoption and the Choice Between Public and Private Debt: Evidence from South Korea," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(11), pages 2533-2556, September.
    • Handle: RePEc:mes:emfitr:v:54:y:2018:i:11:p:2533-2556
    DOI: 10.1080/1540496X.2018.1472079
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    Cited by:

    1. Kanwal Iqbal Khan & Faisal Qadeer & Mário Nuno Mata & Rui Miguel Dantas & João Xavier Rita & Jéssica Nunes Martins, 2021. "Debt Market Trends and Predictors of Specialization: An Analysis of Pakistani Corporate Sector," JRFM, MDPI, vol. 14(5), pages 1-16, May.
    2. Kyoungwon Mo & Kyung Yun (Kailey) Lee, 2019. "Analyst Following, Group Affiliation, and Labor Investment Efficiency: Evidence from Korea," Sustainability, MDPI, vol. 11(11), pages 1-19, June.

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