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Adoption of international accounting standards and performance of emerging capital markets

Author

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  • Karim Mhedhbi
  • Daniel Zeghal

Abstract

Purpose - The purpose of this paper is to examine empirically the association between the adoption of international accounting standards (IAS/IFRS) and the performance of emerging capital markets. Design/methodology/approach - Data related to 31 developing countries with capital markets were used. The authors performed univariate analyses (means comparison before and after the use of IAS/IFRS), as well as multivariate analyses (estimation of models of panel data), to test the hypothetical relations set up in the paper. Findings - The results suggest that the performance of emerging capital markets is significantly and positively associated with IAS/IFRS use. They are consistent with several empirical investigations which highlighted the relevance of financial information under IAS/IFRS in emerging capital markets. Practical implications - Several organizations and decision-makers including the IASB, governments, capital markets regulators and international investors should find the policy implications of this paper very meaningful. Originality/value - To the best of the authors’ knowledge, the relationship between the use of IAS/IFRS and the performance of emerging capital markets based on a group of countries has not yet been explored.

Suggested Citation

  • Karim Mhedhbi & Daniel Zeghal, 2016. "Adoption of international accounting standards and performance of emerging capital markets," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 15(2), pages 252-272, May.
    • Handle: RePEc:eme:rafpps:v:15:y:2016:i:2:p:252-272
    DOI: 10.1108/RAF-08-2013-0099
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    Cited by:

    1. Maigoshi, Zaharaddeen Salisu & Latif, Rohaida Abdul & Kamardin, Hasnah, 2018. "Change in value-relevance of disclosed RPT across accounting regimes: Evidence from Malaysia," Research in International Business and Finance, Elsevier, vol. 44(C), pages 422-433.

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