Twenty years of IFRS ‘success’? A systematic review of Scopus literature

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation Pub Date : 2026-06-01 Epub Date: 2025-11-29 DOI:10.1016/j.intaccaudtax.2025.100739

Erekle Pirveli , Jochen Zimmermann

{"title":"Twenty years of IFRS ‘success’? A systematic review of Scopus literature","authors":"Erekle Pirveli , Jochen Zimmermann","doi":"10.1016/j.intaccaudtax.2025.100739","DOIUrl":null,"url":null,"abstract":"<div><div>This study augments the literature by systematically reviewing market- and firm-level effects of International Financial Reporting Standards (IFRS) adoption over the past two decades. Drawing on 181 articles from the Scopus database, our <em>meta</em>-analysis applies multivariate regression and Structural Equation Modeling (SEM) to simultaneously examine the relationships between accounting quality, accounting comparability, market effects, and the findings of IFRS adoption. The results show predominantly positive effects on market outcomes, such as reduced forecast errors, increased investment flows, and improved market liquidity, whereas findings on accounting quality and comparability remain mixed. Crucially, SEM reveals that these market improvements are not primarily driven by fundamental accounting enhancements in either accounting quality or comparability. Instead, market effects exert a strong direct influence on IFRS findings, whereas accounting dimensions exhibit weaker direct and significantly negative indirect effects. These insights challenge the common assumption that market-level improvements stem from enhanced accounting fundamentals. By offering a structured and quantitative synthesis, this study strengthens methodological rigor in IFRS literature and informs future research on standard-setting outcomes.</div></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":"60 ","pages":"Article 100739"},"PeriodicalIF":3.7000,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Accounting Auditing and Taxation","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S106195182500062X","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2025/11/29 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

Abstract

This study augments the literature by systematically reviewing market- and firm-level effects of International Financial Reporting Standards (IFRS) adoption over the past two decades. Drawing on 181 articles from the Scopus database, our meta-analysis applies multivariate regression and Structural Equation Modeling (SEM) to simultaneously examine the relationships between accounting quality, accounting comparability, market effects, and the findings of IFRS adoption. The results show predominantly positive effects on market outcomes, such as reduced forecast errors, increased investment flows, and improved market liquidity, whereas findings on accounting quality and comparability remain mixed. Crucially, SEM reveals that these market improvements are not primarily driven by fundamental accounting enhancements in either accounting quality or comparability. Instead, market effects exert a strong direct influence on IFRS findings, whereas accounting dimensions exhibit weaker direct and significantly negative indirect effects. These insights challenge the common assumption that market-level improvements stem from enhanced accounting fundamentals. By offering a structured and quantitative synthesis, this study strengthens methodological rigor in IFRS literature and informs future research on standard-setting outcomes.

查看原文本刊更多论文

国际财务报告准则的“成功”二十年？对Scopus文献的系统回顾

本研究通过系统地回顾过去二十年来采用国际财务报告准则（IFRS）对市场和公司层面的影响来补充文献。利用Scopus数据库中的181篇文章，我们的荟萃分析应用多元回归和结构方程模型（SEM）来同时检查会计质量、会计可比性、市场效应和采用国际财务报告准则的结果之间的关系。结果显示，对市场结果的影响主要是积极的，如减少预测误差、增加投资流量和改善市场流动性，而对会计质量和可比性的影响则喜忧参半。至关重要的是，SEM揭示了这些市场改善主要不是由会计质量或可比性的基本会计改进所驱动的。相反，市场效应对国际财务报告准则的发现产生强烈的直接影响，而会计维度表现出较弱的直接和显著的负面间接影响。这些见解挑战了普遍的假设，即市场水平的改善源于会计基础的加强。通过提供结构化和定量的综合，本研究加强了国际财务报告准则文献方法的严谨性，并为未来的标准制定结果研究提供了信息。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of International Accounting Auditing and Taxation BUSINESS, FINANCE-

CiteScore

4.50

自引率

3.80%

发文量

期刊介绍： The Journal of International Accounting, Auditing and Taxation publishes articles which deal with most areas of international accounting including auditing, taxation and management accounting. The journal''s goal is to bridge the gap between academic researchers and practitioners by publishing papers that are relevant to the development of the field of accounting. Submissions are expected to make a contribution to the accounting literature, including as appropriate the international accounting literature typically found in JIAAT and other primary US-based international accounting journals as well as in leading European accounting journals. Applied research findings, critiques of current accounting practices and the measurement of their effects on business decisions, general purpose solutions to problems through models, and essays on world affairs which affect accounting practice are all within the scope of the journal.