Use this URL to cite or link to this record in EThOS: http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.436071
Title: Corporate financial reporting reform in economics in transition : the extent of compliance with international financial reporting standards disclosure requirements in annual reports
Author: Al-Ulis, Ibrahim
ISNI:       0000 0001 3409 3004
Awarding Body: University of Surrey
Current Institution: University of Surrey
Date of Award: 2006
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Abstract:
This thesis investigates the extent of compliance with International Financial Reporting Standards disclosure requirements in annual reports of listed companies in seven economies in transition countries in the Middle East region. This thesis extends the literature on corporate financial reporting in economies in transition. The adoption of International Financial Reporting Standards as one type of corporate financial reporting reform in economies in transition may increase the quantity and quality of corporate disclosure in annual reports, thus meeting the needs of market participants, particularly investors and creditors, and serving the purpose of economic reforms, in particular with regard to attracting foreign investments and retaining national capital and preventing capital leakage. To achieve the objective, the following analyses were conducted. First, the extent of compliance with International Financial Reporting Standards disclosure requirements in annual reports of listed companies was computed. The indexes of the extent of compliance with International Financial Reporting Standards disclosure requirements range from 23% to 90% with a mean of 69%. This indicates that there are substantial variations in the extent of compliance with International Financial Reporting Standards disclosure requirements in annual reports of listed companies in the seven countries. Second, a cross-sectional study was used to investigate what environmental factors were influencing variations in the extent of compliance with International Financial Reporting Standards disclosure requirements in annual reports of listed companies in the seven economies in transition. It was found that five variables can explain 75% of the cross-sectional variations in the extent of compliance with International Financial Reporting Standards disclosure requirements in annual reports. Of these variables, three are country-specific, namely level of foreign direct investment, capital market size and country governance regime, and two are firm-specific, namely company size and ownership structure were significantly associated with the extent of compliance with International Financial Reporting Standards in annual reports of listed companies in the seven economies in transition in the Middle East region. Consistent with the literature on disclosure and compliance with International Financial Reporting Standards, the results were mixed. The results suggest that it is the incentive of reforming the financial reporting environment, rather than the adoption of International Financial Reporting Standards per se that is crucial in corporate financial reporting reform for the seven economies in transition. This means that to achieve a high level of compliance with IFRS disclosure requirements in a country, a strong country governance regime with a high degree of political and economic freedom are needed.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.436071  DOI: Not available
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