THE IMPACT OF IFRS NORMS ON INTERNAL GOVERNANCE MECHANISMS WITH REGARD TO SOCIO-ECONOMIC CONTEXT

Soumaya Hergli
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Soumaya Hergli: University of Carthage, Tunisia

Management and Marketing Journal, 2016, vol. XIV, issue 2, 243-263

Abstract: The purpose of this paper is to examine the effect of International Financial Reporting Standards IFRS adoption on internal governance mechanisms with regard to socio-economic context. Empirical investigation was conducted to assess whether a company and an individual specifications can be presented as part of a general pattern. The results confirm that IFRS framework has introduced a new design of the accounting formalism facing a more complex activity leading to enlargement the discretionary space. Socio-economic factors explain perfectly the corporate governance behaviors and confirmed that the less powerful members of our firms sample expect and accept that power is distributed unequally, the leaders prefer to act as individuals rather than as members of groups, the management positions are generally held by men than by women, these members are threatened by ambiguous or unknown situations and finally, managers stand for the fostering in a society of pragmatic virtues oriented to future rewards, in particular perseverance, thrift and adapting to changing circumstances.

Keywords: IFRS; internal governance mechanisms; socio-economic factors (search for similar items in EconPapers)
JEL-codes: M10 M20 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aio:manmar:v:xiv:y:2016:i:2:p:243-263

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