Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/20.500.11960/2816 |
Resumo: | This study responds to calls for further research on how the institutional context of code law rooted countries impeded or supported the adoption of International Financial Reporting Standards (IFRS). We contribute to the debate on whether the pre-IFRS Anglo-Saxon versus Continental European model persists under IFRS. The experiences of Brazil and Portugal with respect to IFRS are underexamined and allow a comparison of an advanced economy and an emerging market, thereby offering further research on this topic. This study also helps overcome the lack of research on IFRS implementation by unlisted firms. Findings reveal that as many as seven or eight years after formally adopting IFRS, full de facto international accounting convergence in Portugal and Brazil is not yet achieved. Evidence from both countries show a coercive isomorphism being exerted mainly by informal market forces rather than by formal supervisory mechanisms. This observation together with enduring professional resistance and a low level of professional development, most noticeably in Brazil, is consistent with the possibility of decoupling or loose coupling. The cultural traits that influenced the continental model adopted prior to IFRS are perpetuated in both countries, thereby suggesting that culture poses a major obstacle to the complete adoption of IFRS. |
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Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and BrazilAccounting convergenceBrazilIFRSInstitutional theoryPerceptionsPortugalThis study responds to calls for further research on how the institutional context of code law rooted countries impeded or supported the adoption of International Financial Reporting Standards (IFRS). We contribute to the debate on whether the pre-IFRS Anglo-Saxon versus Continental European model persists under IFRS. The experiences of Brazil and Portugal with respect to IFRS are underexamined and allow a comparison of an advanced economy and an emerging market, thereby offering further research on this topic. This study also helps overcome the lack of research on IFRS implementation by unlisted firms. Findings reveal that as many as seven or eight years after formally adopting IFRS, full de facto international accounting convergence in Portugal and Brazil is not yet achieved. Evidence from both countries show a coercive isomorphism being exerted mainly by informal market forces rather than by formal supervisory mechanisms. This observation together with enduring professional resistance and a low level of professional development, most noticeably in Brazil, is consistent with the possibility of decoupling or loose coupling. The cultural traits that influenced the continental model adopted prior to IFRS are perpetuated in both countries, thereby suggesting that culture poses a major obstacle to the complete adoption of IFRS.2022-11-14T10:06:43Z2021-09-01T00:00:00Z2021-092022-11-03T15:05:23Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/20.500.11960/2816eng1061-951810.1016/j.intaccaudtax.2021.100416Silva, Ana PaulaFontes, AlexandraMartins, Adelaideinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-21T14:36:11Zoai:repositorio.ipvc.pt:20.500.11960/2816Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:43:29.319439Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
title |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
spellingShingle |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil Silva, Ana Paula Accounting convergence Brazil IFRS Institutional theory Perceptions Portugal |
title_short |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
title_full |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
title_fullStr |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
title_full_unstemmed |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
title_sort |
Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil |
author |
Silva, Ana Paula |
author_facet |
Silva, Ana Paula Fontes, Alexandra Martins, Adelaide |
author_role |
author |
author2 |
Fontes, Alexandra Martins, Adelaide |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Silva, Ana Paula Fontes, Alexandra Martins, Adelaide |
dc.subject.por.fl_str_mv |
Accounting convergence Brazil IFRS Institutional theory Perceptions Portugal |
topic |
Accounting convergence Brazil IFRS Institutional theory Perceptions Portugal |
description |
This study responds to calls for further research on how the institutional context of code law rooted countries impeded or supported the adoption of International Financial Reporting Standards (IFRS). We contribute to the debate on whether the pre-IFRS Anglo-Saxon versus Continental European model persists under IFRS. The experiences of Brazil and Portugal with respect to IFRS are underexamined and allow a comparison of an advanced economy and an emerging market, thereby offering further research on this topic. This study also helps overcome the lack of research on IFRS implementation by unlisted firms. Findings reveal that as many as seven or eight years after formally adopting IFRS, full de facto international accounting convergence in Portugal and Brazil is not yet achieved. Evidence from both countries show a coercive isomorphism being exerted mainly by informal market forces rather than by formal supervisory mechanisms. This observation together with enduring professional resistance and a low level of professional development, most noticeably in Brazil, is consistent with the possibility of decoupling or loose coupling. The cultural traits that influenced the continental model adopted prior to IFRS are perpetuated in both countries, thereby suggesting that culture poses a major obstacle to the complete adoption of IFRS. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-09-01T00:00:00Z 2021-09 2022-11-14T10:06:43Z 2022-11-03T15:05:23Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/20.500.11960/2816 |
url |
http://hdl.handle.net/20.500.11960/2816 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1061-9518 10.1016/j.intaccaudtax.2021.100416 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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