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The Effects and Implications of Kazakhstan’s Adoption of International Financial Reporting Standards
- A Resource Dependence Perspective
Engelsk
Bogcover for The Effects and Implications of Kazakhstan’s Adoption of International Financial Reporting Standards af Oksana Kim, 9783838209876
Specifikationer
Sprog:
Engelsk
Sider:
144
ISBN-13:
9783838209876
Indbinding:
Paperback
ISBN-10:
3838209877
Kategori:
Udg. Dato:
30 jul 2017
Størrelse i cm:
15,1 x 21,4 x 0,9
Oplagsdato:
30 jul 2017
Forfatter(e):

The Effects and Implications of Kazakhstan’s Adoption of International Financial Reporting Standards

- A Resource Dependence Perspective
Engelsk
Paperback 2017
Format:

Bog beskrivelse
Despite having an underdeveloped supporting infrastructure and limited resources, Kazakhstan was the first CIS country to require IFRS in 2004 for banks, and in 2005 for all public companies. What were the economic consequences of this important reform? In the 1990s, Kazakhstans capital market reforms mirrored those of Russia due to the two countries cooperating mode driven by a high level of resource interdependence and environmental uncertainty, following the collapse of the Soviet Union. Yet, by 2003, dependence on external donors (IMF, World Bank) took precedence over interdependence with Russia. As a result, Kazakhstan unilaterally proceeded with adoption of IFRS, while Russia backed up from this initiative. This study reports that Kazakhstans inflow of Foreign Direct Investments was the greatest among the CIS nations following the adoption of IFRS. In addition, in 200511, Kazakhstani public firms reporting quality was higher than that of the Russian public firms operating in a similar environment but exempt from the IFRS reporting requirement. Kazakhstan was the first CIS nation to repay its external debt ahead of schedule and to receive an investment grade from Moodys rating agency. The book concludes that Western-style capital market reformsin this emerging market with a not-so-distant communist pasthad significantly positive outcomes.
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Specifikationer
Sprog:
Engelsk
Sider:
144
ISBN-13:
9783838209876
Indbinding:
Paperback
ISBN-10:
3838209877
Kategori:
Udg. Dato:
30 jul 2017
Størrelse i cm:
15,1 x 21,4 x 0,9
Oplagsdato:
30 jul 2017
Forfatter(e):
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