Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates
The present study examines the impact of corporate governance mechanisms on compliance with IFRS and financial reporting quality in some selected Gulf countries. The study aims to investigate this issue using a sample of 98 firms listed in Saudi Arabia, Oman, and the United Arab Emirates over the pe...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2021-01-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844020326906 |
| _version_ | 1818569734932660224 |
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| author | Faozi A. Almaqtari Abdulwahid A. Hashed Mohd. Shamim |
| author_facet | Faozi A. Almaqtari Abdulwahid A. Hashed Mohd. Shamim |
| author_sort | Faozi A. Almaqtari |
| collection | DOAJ |
| description | The present study examines the impact of corporate governance mechanisms on compliance with IFRS and financial reporting quality in some selected Gulf countries. The study aims to investigate this issue using a sample of 98 firms listed in Saudi Arabia, Oman, and the United Arab Emirates over the period from 2015 up to 2018. Descriptive statistics, correlation, and regression analysis are conducted to estimate the results. The results reveal that audit committee attributes have a higher impact on compliance with IFRS and financial reporting quality than other corporate governance mechanisms. Further, the results show that there is no evidence to support that the collective effect of corporate governance mechanisms has changed to be more influential from Saudi GAAP to IFRS. The present study has several contributions and implications. It has a unique contribution as it attempts to compare the effect of corporate governance mechanisms on financial reporting quality and compliance with IFRS among a recent IFRS adopter; Saudi Arabia and early IFRS adopters; Oman and the United Arab Emirates. The study opens valuable insights to regulators, stock markets, practitioners, and academicians in this issue. |
| first_indexed | 2024-12-14T06:51:39Z |
| format | Article |
| id | doaj.art-7f64b7b6ba2c4eac810ac63afd64c238 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-12-14T06:51:39Z |
| publishDate | 2021-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-7f64b7b6ba2c4eac810ac63afd64c2382022-12-21T23:12:53ZengElsevierHeliyon2405-84402021-01-0171e05848Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab EmiratesFaozi A. Almaqtari0Abdulwahid A. Hashed1Mohd. Shamim2Department of Accounting, College of Commerce and Economics, Hodeidah University, Hodeidah, 1814, Yemen; Corresponding author.Department of Accounting, College of Business Administration, Prince Sattam Bin Abdulaziz University, Al-Kharj, Saudi ArabiaDepartment of Commerce, Aligarh Muslim University, Aligarh, 202001, IndiaThe present study examines the impact of corporate governance mechanisms on compliance with IFRS and financial reporting quality in some selected Gulf countries. The study aims to investigate this issue using a sample of 98 firms listed in Saudi Arabia, Oman, and the United Arab Emirates over the period from 2015 up to 2018. Descriptive statistics, correlation, and regression analysis are conducted to estimate the results. The results reveal that audit committee attributes have a higher impact on compliance with IFRS and financial reporting quality than other corporate governance mechanisms. Further, the results show that there is no evidence to support that the collective effect of corporate governance mechanisms has changed to be more influential from Saudi GAAP to IFRS. The present study has several contributions and implications. It has a unique contribution as it attempts to compare the effect of corporate governance mechanisms on financial reporting quality and compliance with IFRS among a recent IFRS adopter; Saudi Arabia and early IFRS adopters; Oman and the United Arab Emirates. The study opens valuable insights to regulators, stock markets, practitioners, and academicians in this issue.http://www.sciencedirect.com/science/article/pii/S2405844020326906Corporate governance mechanismsCompliance with IFRSFinancial reporting qualitySaudi ArabiaOmanThe United Arab Emirates |
| spellingShingle | Faozi A. Almaqtari Abdulwahid A. Hashed Mohd. Shamim Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates Heliyon Corporate governance mechanisms Compliance with IFRS Financial reporting quality Saudi Arabia Oman The United Arab Emirates |
| title | Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates |
| title_full | Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates |
| title_fullStr | Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates |
| title_full_unstemmed | Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates |
| title_short | Impact of corporate governance mechanism on IFRS adoption: A comparative study of Saudi Arabia, Oman, and the United Arab Emirates |
| title_sort | impact of corporate governance mechanism on ifrs adoption a comparative study of saudi arabia oman and the united arab emirates |
| topic | Corporate governance mechanisms Compliance with IFRS Financial reporting quality Saudi Arabia Oman The United Arab Emirates |
| url | http://www.sciencedirect.com/science/article/pii/S2405844020326906 |
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