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An empirical investigation of Greek firms' compliance to IFRS disclosure requirements


  • Apostolos A. Ballas
  • Christos Tzovas


This study investigates the compliance of Greek firms to IFRS disclosure requirements. Using a checklist based on the disclosure requirements contained on the proposed standard for SMEs, a compliance score was calculated for a sample of 32 listed and non-listed Greek firms. Subsequently, univariate tests and a multivariate regression model were run to investigate what firm characteristics (listing status, sector, size, profitability) may be related to the extent of compliance. On average, firms comply with about two-thirds of the disclosure requirements. Compliance is positively and significantly influenced by listing status, while the univariate analysis indicated that the larger firms exhibit higher compliance rates. Results are of particular interest to accounting regulators who set disclosure requirements and capital market participants. However, the small size of the sample limits the power of the statistical analysis. The paper empirically investigates the compliance with IFRS requirements and ultimately on the quality of financial statements.

Suggested Citation

  • Apostolos A. Ballas & Christos Tzovas, 2010. "An empirical investigation of Greek firms' compliance to IFRS disclosure requirements," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 2(1), pages 40-62.
  • Handle: RePEc:ids:injmfa:v:2:y:2010:i:1:p:40-62

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    1. repec:eee:accfor:v:38:y:2014:i:1:p:1-17 is not listed on IDEAS
    2. repec:eee:jiaata:v:21:y:2012:i:1:p:52-61 is not listed on IDEAS
    3. George Iatridis & Panayotis Alexakis, 2012. "Evidence of voluntary accounting disclosures in the Athens Stock Market," Review of Accounting and Finance, Emerald Group Publishing, vol. 11(1), pages 73-92, February.


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