TY - JOUR
T1 - IFRS introduction, corporate governance and firm performance
T2 - evidence from Portugal
AU - Major, Euclides
AU - Marques, Ana
PY - 2009/1/1
Y1 - 2009/1/1
N2 - This paper assesses the relationship between the application of the International Financial Reporting Standards (IFRS), corporate governance and firm performance in Portugal. The sample consists of 240 observations, in 80 firms, over the period of 2003-2005. A corporate governance index is created to measure the compliance with the CMVM (Portuguese Securities Market Commission) recommendations. Results reveal that Portuguese companies that follow CMVM recommendations have a higher level of firm performance, which indicates an important link between financial and managerial accounting. Nevertheless, the level of compliance with the recommendations is still low. Finally, the study establishes that IFRS adoption, per se, is not associated with a higher level of corporate governance.
AB - This paper assesses the relationship between the application of the International Financial Reporting Standards (IFRS), corporate governance and firm performance in Portugal. The sample consists of 240 observations, in 80 firms, over the period of 2003-2005. A corporate governance index is created to measure the compliance with the CMVM (Portuguese Securities Market Commission) recommendations. Results reveal that Portuguese companies that follow CMVM recommendations have a higher level of firm performance, which indicates an important link between financial and managerial accounting. Nevertheless, the level of compliance with the recommendations is still low. Finally, the study establishes that IFRS adoption, per se, is not associated with a higher level of corporate governance.
KW - Portuguese Securities Market
KW - Corporate Governance
KW - Financial Performance
KW - Commission (CMVM)
KW - IFRS
KW - Portugal
KW - IFRS
KW - corporate governance
KW - Portugal
KW - finance performance
KW - Portuguese Securities Market
KW - Commission (CMVM)
M3 - Article
SN - 1443-9905
VL - 7
SP - 55
EP - 70
JO - The Journal of Applied Management Accounting Research
JF - The Journal of Applied Management Accounting Research
IS - 2
ER -