دانلود رایگان مقاله انگلیسی عوامل تعیین کننده اقتصاد کلان در پذیرش استانداردهای گزارشگری مالی بین المللی - الزویر 2018

abstract

Small and medium-sized entities (SMEs) represent more than 95% of companies worldwide and account for more than 65% of employment. As a move towards SME harmonization, in 2009 the International Accounting Standards Board (IASB) issued the International Financial Reporting Standards (IFRS) for SMEs. Due to the lack of studies on adoption of IFRS for SMEs, we analyze the relationship between macroeconomic factors and countries’ decision to adopt IFRS for SMEs. Based on a sample of 84 adopters and non-adopters of IFRS for SMEs, both developed and developing countries, we find evidence that countries without a national set of financial accounting standards for SMEs, with experience of applying IFRS and a common law legal system are more likely to adopt IFRS for SMEs. These results may be due to low transaction costs, the importance of having some knowledge of IFRS reporting given its complexity and belonging to IFRS based countries facilitating adoption of IFRS for SMEs. Additionally, we find that European Union (EU) member countries are less likely to adopt the standard. Knowledge of macroeconomic factors affecting the decision to adopt IFRS for SMEs is useful for the various entities that define international accounting harmonization, such as the IASB, regulators and international accounting firms, since this information can help them to promote worldwide adoption of the standard.

Conclusions

Previous studies found a relationship between institutional factors and full IFRS adoption (Archambault & Archambault, 2009; Clements, Neill, & Stovall, 2010; Hope, Jin, & Kang, 2006; Lasmin, 2011; Ramanna & Sletten, 2014; Ritsumeikan, 2011; Shima & Yang, 2012; Zeghal & Mhedhbi, 2006; Zehri & Chouaibi, 2013), but there is a lack of studies on the adoption of IFRS for SMEs. It is very importantto study SMEs considering thatthey represent more than 95 percent of companies worldwide and make a great contribution to job creation,technological innovation and economic output. Using a sample of 84 countries and a logit regression, we analyze the influence ofinstitutionalfactors oncountries’decisionto adoptIFRS for SMEs, for both developed and developing countries. The results show that countries without a national set of financial accounting standards, that permit or require the use of full IFRS for listed companies and have a common law legal system, are more likely to adopt IFRS for SMEs. An explanation for this could be that adopting IFRS for SMEs reduces the costs of developing their own financial accounting standards. Being familiar with, and experienced in, the IFRS environment implies a reduction in transaction costs as well being better prepared to deal with its complexity. Being part of a certain group of countries partially explains adoption of IFRS for SMEs. However, regarding education level, foreign aid, quality of the national financial accounting standards and the relationship between accounting standards and tax rules,there is no evidence of those factors influencing the country level decision to adoptIFRS for SMEs. However, if education level is measured by the literacy rate and the percentage of primary school enrolment, we conclude that countries with a lower education level are more likely to adoptIFRS for SMEs, which could be explained by the lack of qualified accountants able to develop a set of financial accounting standards in the country.