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Impact of IFRS: evidence from Spanish listed companies

Mariano González (University CEU Cardenal Herrera, Alfara del Patriarca, Spain)
Juan M. Nave (University of Castilla – La Mancha, Cuenca, Spain)
David Toscano (University of Huelva, Huelva, Spain)

International Journal of Accounting & Information Management

ISSN: 1834-7649

Article publication date: 29 April 2014




In this paper, the authors aim to analyze the impact of International Financial Reporting Standards' (IFRS) mandatory adoption on the financial statements of Spanish listed companies.


The authors estimate a panel data model by generalized least squares' within-between in order to contrast the possible structural breaks in the relations between income statement items and balance sheet items, using data from the 35 largest listed companies.


The results show significant changes on these relations, but with different signs and degrees of intensity depending on the balance sheet item analyzed.

Research limitations/implications

The data choice introduces a size bias that could be taken into account in the generalization of the results to other listed companies.


This work is developed using a mandatory, local, accounting and panel data framework for first time using Spanish listed companies in order to measure the impact of the IFRS adoption.



JEL classification – M41, M48, C12, C33The authors are grateful for the comments and suggestions of two referees and of the participants in the 32nd Annual Congress (2009) of the European Accounting Association and in the 11th World Congress (2010) of Accounting Educators and Researchers that have improved the current version. This paper has been financed by Research Project ECO2009-13616 of the Spanish Education and Science Ministry (MEC) and PROMETEO/2008/106 of the Generalitat Valenciana. A previous version of this paper was published as working paper (WP-CEU-UCH EE 2009-08) and was awarded Best Paper Emerald in the 11th World Congress (2010) of Accounting Educators and Researchers.


González, M., M. Nave, J. and Toscano, D. (2014), "Impact of IFRS: evidence from Spanish listed companies", International Journal of Accounting & Information Management, Vol. 22 No. 2, pp. 157-172.



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