IFRS and secrecy: assessing accounting value relevance across Africa

Hillier, David, Hodgson, Allan and Ngole, Shaban (2015) IFRS and secrecy: assessing accounting value relevance across Africa. Journal of International Financial Management and Accounting, 27 3: 237-268. doi:10.1111/jifm.12043

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Author Hillier, David
Hodgson, Allan
Ngole, Shaban
Title IFRS and secrecy: assessing accounting value relevance across Africa
Journal name Journal of International Financial Management and Accounting   Check publisher's open access policy
ISSN 1467-646X
0954-1314
Publication date 2015
Sub-type Article (original research)
DOI 10.1111/jifm.12043
Volume 27
Issue 3
Start page 237
End page 268
Total pages 32
Place of publication Chichester, West Sussex, United Kingdom
Publisher Wiley-Blackwell
Collection year 2016
Language eng
Abstract We examine the value relevance of accounting across several African countries and test whether IFRS improved the value association of earnings and equity book values. We report a stronger valuation association between accounting and stock prices in African countries classified as having a secrecy culture. This increases after IFRS and more so for earnings. On the other hand, IFRS induced a stronger increase in the book value coefficient in the less secretive and more developed South African market. We surmise that the more conceptual focus of IFRS induced an increased demand for higher-quality accounting professionals, which had a filtering-down effect of improving quality information flow and breaking down the secrecy culture. Our research highlights the diverse impacts of IFRS and the role of culture, asset markets and accounting professionalism, in driving the relevance of accounting components across Africa.
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2016 Collection
UQ Business School Publications
 
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Created: Thu, 22 Oct 2015, 15:51:36 EST by Karen Morgan on behalf of UQ Business School