Over half a decade into the adoption of IFRS 9: a systematic literature review

IF 16.4 1区 化学 Q1 CHEMISTRY, MULTIDISCIPLINARY
Isaac S. Awuye, Daniel Taylor
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引用次数: 0

Abstract

PurposeIn 2018, the International Financial Reporting Standard 9-Financial Instruments became mandatory, effectively changing the underlying accounting principles of financial instruments. This paper systematically reviews the academic literature on the implementation effects of IFRS 9, providing a coherent picture of the state of the empirical literature on IFRS 9.Design/methodology/approachThe study thrives on a systematic review approach by analyzing existing academic studies along the following three broad categories: adoption and implementation, impact on financial reporting, and risk management and provisioning. The study concludes by providing research prospects to fill the identified gaps.FindingsWe document data-related issues, forecasting uncertainties and the interaction of IFRS 9 with other regulatory standards as implementation challenges encountered. Also, we observe cross-country heterogeneity in reporting quality. Furthermore, contrary to pre-implementation expectations, we find improvement in risk management. This suggests that despite the complexities of the new regulatory standard on financial instruments, it appears to be more successful in achieving the intended objective of enhancing better market discipline and transparency rather than being a regulatory overreach.Originality/valueAs the literature on IFRS 9 is burgeoning, we provide state-of-the-art guidance and direction for researchers with a keen interest in the economic significance and implications of IFRS 9 adoption. The study identifies gaps in the literature that require further research, specifically, IFRS 9 adoption and firm’s hedging activities, IFRS 9 implications on non-financial firms. Lastly, existing studies are mostly focused on Europe and underscore the need for more research in under-researched jurisdictions, particularly in Asia and Africa. Also, to standard setters, policymakers and practitioners, we provide some insight to aid the formulation and application of standards.
采用《国际财务报告准则》第 9 号已逾半载:系统性文献综述
目的2018年,《国际财务报告准则第9号--金融工具》开始强制实施,有效改变了金融工具的基本会计原则。本文系统回顾了有关《国际财务报告准则第9号》实施效果的学术文献,为《国际财务报告准则第9号》的实证文献现状提供了一个连贯的图景。设计/方法/途径本研究采用系统回顾的方法,按照以下三大类分析现有的学术研究:采用和实施、对财务报告的影响以及风险管理和拨备。研究结果我们记录了数据相关问题、预测的不确定性以及《国际财务报告准则第 9 号》与其他监管准则之间的相互作用,这些都是实施过程中遇到的挑战。此外,我们还观察到报告质量的跨国异质性。此外,与实施前的预期相反,我们发现风险管理有所改善。这表明,尽管新的金融工具监管标准非常复杂,但它似乎更成功地实现了加强市场纪律和透明度的预期目标,而不是监管过度。 由于有关《国际财务报告准则第 9 号》的文献正在蓬勃发展,我们为对采用《国际财务报告准则第 9 号》的经济意义和影响有浓厚兴趣的研究人员提供了最新的指导和方向。研究指出了需要进一步研究的文献空白,特别是《国际财务报告准则第 9 号》的采用与企业的对冲活动、《国际财务报告准则第 9 号》对非金融企业的影响。最后,现有的研究主要集中在欧洲,强调需要对研究不足的司法管辖区进行更多研究,特别是在亚洲和非洲。此外,对于标准制定者、政策制定者和从业人员来说,我们提供了一些见解,有助于标准的制定和应用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Accounts of Chemical Research
Accounts of Chemical Research 化学-化学综合
CiteScore
31.40
自引率
1.10%
发文量
312
审稿时长
2 months
期刊介绍: Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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