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Professional Autonomy and IFRSS Adoption

Author

Listed:
  • Bogdan Dima
  • Stefana Maria Dima
  • Miruna Nachescu

    (West University of Timisoara, Romania)

  • Chiara Saccon

    (Ca' Foscari University, Venice, Italy)

Abstract

Since the concept of professional judgment is at the core of principles-based financial reporting, the present article analyses the connection between professional autonomy (including as component professional judgment) and International Financial Reporting Standards (IFRSs) adoption. Thus, we developed a methodology for estimating the IFRSs’ adoption status for 44 countries and constructed an Index of Professional Autonomy based on World Value Surveys. The levels of the respective index were estimated in an Exploratory Factor Analysis framework. In order to deal with the reverse causality issues, a GMM methodological framework was adopted. The results reveal that the overall index is positive and statistical significant at 1% related to IFRSs adoption. These findings are robust even if “the implication in voluntary work for professional associations” and the “importance of the material motivation of work” are considered as control variables.

Suggested Citation

  • Bogdan Dima & Stefana Maria Dima & Miruna Nachescu & Chiara Saccon, 2015. "Professional Autonomy and IFRSS Adoption," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 14(4), pages 627-654, December.
    • Handle: RePEc:ami:journl:v:14:y:2015:i:4:p:627-654
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    More about this item

    Keywords

    professional autonomy; professional judgment; IFRSs’ adoption; principles-based; ruled-based;
    All these keywords.

    JEL classification:

    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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