IFRS Adoption and Its Influence on Capital Markets in Transition Countries: The Case of Russia

Název práce: IFRS Adoption and Its Influence on Capital Markets in Transition Countries: The Case of Russia
Autor(ka) práce: Talykova, Gerenzel
Typ práce: Diploma thesis
Vedoucí práce: Procházka, David
Oponenti práce: Vašek, Libor
Jazyk práce: English
Abstrakt:
Capital markets development is an integral part of overall economic growth of any country. Accounting harmonization is aimed to increase the attractiveness of capital markets by creation of synchronized financial reporting environment globally so that the capital is effectively allocated with the lowest costs and increased liquidity. To the date, more than a hundred of countries implemented IFRS into the national accounting frameworks, therefore the need for the assessment of the real impacts on capital markets is obvious. The main goal of this study is to identify whether there is statistical evidence of the relationship between decreased/increased cost of equity capital among Russian listed companies and mandatory adoption of IFRS. Theoretical part includes an overview of the relevant theory, reasons of accounting harmonization as well as potential challenges. There are also described the main findings and real evidences of adoption impacts on the main capital and financial markets. Practical part of this paper is aimed to investigate whether the proposed benefits of IFRS adoption may be similarly observed in an environment of transition economy.
Klíčová slova: Russia; Cost of equity capital; International Financial Reporting Standards (IFRS); Transition economy
Název práce: IFRS Adoption and Its Influence on Capital Markets in Transition Countries: The Case of Russia
Autor(ka) práce: Talykova, Gerenzel
Typ práce: Diplomová práce
Vedoucí práce: Procházka, David
Oponenti práce: Vašek, Libor
Jazyk práce: English
Abstrakt:
Capital markets development is an integral part of overall economic growth of any country. Accounting harmonization is aimed to increase the attractiveness of capital markets by creation of synchronized financial reporting environment globally so that the capital is effectively allocated with the lowest costs and increased liquidity. To the date, more than a hundred of countries implemented IFRS into the national accounting frameworks, therefore the need for the assessment of the real impacts on capital markets is obvious. The main goal of this study is to identify whether there is statistical evidence of the relationship between decreased/increased cost of equity capital among Russian listed companies and mandatory adoption of IFRS. Theoretical part includes an overview of the relevant theory, reasons of accounting harmonization as well as potential challenges. There are also described the main findings and real evidences of adoption impacts on the main capital and financial markets. Practical part of this paper is aimed to investigate whether the proposed benefits of IFRS adoption may be similarly observed in an environment of transition economy.
Klíčová slova: Cost of equity capital; International Financial Reporting Standards; Transition economy; Russia

Informace o studiu

Studijní program / obor: Finance and Accounting
Typ studijního programu: Magisterský studijní program
Přidělovaná hodnost: Ing.
Instituce přidělující hodnost: Vysoká škola ekonomická v Praze
Fakulta: Fakulta financí a účetnictví
Katedra: Katedra finančního účetnictví a auditingu

Informace o odevzdání a obhajobě

Datum zadání práce: 29. 11. 2016
Datum podání práce: 1. 6. 2017
Datum obhajoby: 8. 6. 2017
Identifikátor v systému InSIS: https://insis.vse.cz/zp/59801/podrobnosti

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