Analyzing the effect of using international accounting standards on the development of emerging capital markets
Purpose - The purpose of this paper is to analyze the consequences of using international accounting standards (IAS/IFRS) for the development of capital markets located in developing countries (emerging capital markets). Design/methodology/approach - The authors conduct an empirical study using a sample of 38 developing countries with capital markets, starting by comparing the means of the different measures studied before and after the use of IAS/IFRS. A multivariate statistical analysis is conducted based on the estimation of a model of panel data with fixed effects. Findings - The results show that the development of the emerging capital markets is positively and significantly associated with the use of international accounting standards. Practical implications - The paper's findings are of interest to several different parties, primarily the national accounting standardization body, the IASB, many international organizations and international investors. Originality/value - The paper describes an empirical study, conducted on a group of developing countries, which provides a better understanding of the potential consequences of the use of IASB standards. The paper is also a meaningful contribution to the international accounting literature, as it examines an interesting subject that has not yet been investigated.
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Volume (Year): 20 (2012)
Issue (Month): 3 (July)
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References listed on IDEAS
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