Accounting harmonization in the BRIC countries: A common path?

Ghio, Alessandro; Verona, Roberto

doi:10.1016/j.accfor.2015.02.001

Cited by 35 publications

(35 citation statements)

References 83 publications

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“…So, while there is a general and justified perception of an acceleration of moves towards IFRS adoption, in particular between 2002 and 2005, the nature and details of this unique 'diffusion process' would merit more attention, both on the level of individual jurisdictions and in comparative research (e.g. Ghio & Verona, 2015). In the following subsections we make this call for research more specific by highlighting some of the great diversity in circumstances in which jurisdictions have made their adoption decisions.…”

Section: The Iasb's First Decade An Overviewmentioning

confidence: 99%

The Challenge of Setting Standards for a Worldwide Constituency: Research Implications from the IASB’s Early History

Camfferman

Zeff

2017

European Accounting Review

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Based on Camfferman and Zeff [(2015). Aiming for global accounting standards : The International Accounting Standards Board, 2001. Oxford: Oxford University Press] we reflect on possibilities for academic research on the International Accounting Standards Board (IASB) and its International Financial Reporting Standards (IFRSs). We argue that a research agenda may be formed around the notion that the IASB differs from national standard setters because its constituent base includes jurisdictions as well as the more traditional preparer, user and auditor constituency groups. We show that taking a jurisdictional angle draws attention to the variety among the IASB's jurisdictional constituents, identifying numerous research possibilities related to their decisions to adopt, or not to adopt, IFRSs, and to the mechanisms they have developed to form their own IFRS policies and to interact with the IASB. We illustrate how the IASB's structure, governance, processes and standards are influenced by the challenge of reconciling the needs and values of jurisdictional constituents with the objective of setting global accounting standards. We call for research on the ramifications of the diversity of jurisdictional constituents, as well as changing perceptions of standard setting within jurisdictions, for all aspects of the functioning of the IASB. Such research should make greater use of the variety of sources available to researchers today.

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Section: The Iasb's First Decade An Overviewmentioning

confidence: 99%

The Challenge of Setting Standards for a Worldwide Constituency: Research Implications from the IASB’s Early History

Camfferman

Zeff

2017

European Accounting Review

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“…According to Ghio and Verona (2015), Brazil adopted IFRS without many alterations and basically involving a process of simple imitation. Moreover, this accounting convergence process was divided into two stages in the Brazilian context.…”

Section: Development Of the Hypothesesmentioning

confidence: 99%

“…Countries such as Brazil, Russia, India, and China (BRIC) have historically focused their accounting standards on providing information to their governments, whereas investors constitute the main users of the international standards (Ghio & Verona, 2015).…”

Section: Introductionmentioning

confidence: 99%

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IFRS, synchronicity, and financial crisis: the dynamics of accounting information for the Brazilian capital market

Figlioli

Lemes

Lima

2017

Rev. contab. finanç.

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This study aims is to investigate the synchronicity levels of shares traded on the spot market of the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) in relation to the accounting convergence process towards International Financial Reporting Standards (IFRS) in Brazil. The term synchronicity refers to the amount that company-specific information and market information are reflected in stock prices. The more share prices reflect company-specific information rather than market information, the greater the informational content of these prices will be in terms of representing the economic value of a particular company. For this investigation, information on companies and shares from 2005 to 2015 was collected, excluding the financial sector. The data were analyzed using cross-sectional and panel regressions. The results indicate a reduction in the synchronicity levels of stocks in the period of full adoption of IFRS in Brazil from 2010 onwards. From 2008 to 2009, which includes the partial adoption of IFRS in Brazil, statistically significant results were not found for the synchronicity levels of shares. However, for times of financial crisis, evidence was found of a reduction in the relevance of accounting information even with the adoption of international accounting standards. The results obtained for the Brazilian context do not support the idea that the adoption of IFRS necessarily causes an increase in the informational content of financial statements and that relevant information is consequently reflected in stock prices.

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“…Para os autores, as normas internacionais de contabilidade tendem a aumentar a discricionariedade dos gestores quando comparada com as normas locais, o que poderia aumentar os níveis de complexidade na avaliação das empresas. Uma explicação para os resultados da Hipótese H3b é que a normatização contábil brasileira anterior às IFRS preconizavam as necessidades informacionais da esfera pública em detrimento dos investidores (LOPES, 2006;GHIO;VERONA, 2015). Nessas condições, a informação contábil tenderia a não ser relevante para o mercado de capitais.…”

Section: Hipótese 3a E 3bunclassified

A relevância da informação contábil para o mercado de capitais brasileiro sob o pressuposto da racionalidade limitada dos investidores

Figlioli¹

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Accounting harmonization in the BRIC countries: A common path?

Cited by 35 publications

References 83 publications

The Challenge of Setting Standards for a Worldwide Constituency: Research Implications from the IASB’s Early History

The Challenge of Setting Standards for a Worldwide Constituency: Research Implications from the IASB’s Early History

IFRS, synchronicity, and financial crisis: the dynamics of accounting information for the Brazilian capital market

A relevância da informação contábil para o mercado de capitais brasileiro sob o pressuposto da racionalidade limitada dos investidores

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