|
Title: |
The Effects and Implications of Kazakhstanâ s Adoption of International Financial Reporting Standards |
| Sub-title: |
A Resource Dependence Perspective |
| Series: |
Soviet and Post-Soviet Politics and Society |
Search Result:
| By (author): |
Oksana Kim Series edited by: Andreas Umland Foreword by: Svetlana Vady |
| ISBN10-13: |
3838209877 : 9783838209876 |
| Format: |
Paperback |
| Size: |
210x148mm |
| Pages: |
144 |
| Weight: |
.202 Kg. |
| Published: |
ibidem - July 2017 |
| List Price: |
22.00 Pounds Sterling |
| Availability: |
In Stock
Qty Available: 4 |
| Subjects: |
Politics & government : Economics : Kazakhstan |
| Despite having an underdeveloped supporting infrastructure and limited resources, Kazakhstan was the first CIS country to require IFRS in 2004 for banks, and in 2005 for all public companies. What were the economic consequences of this important reform? In the 1990s, Kazakhstanâ s capital market reforms mirrored those of Russia due to the two countriesâ cooperating mode driven by a high level of resource interdependence and environmental uncertainty, following the collapse of the Soviet Union. Yet, by 2003, dependence on external donors (IMF, World Bank) took precedence over interdependence with Russia. As a result, Kazakhstan unilaterally proceeded with adoption of IFRS, while Russia backed up from this initiative. This study reports that Kazakhstanâ s inflow of Foreign Direct Investments was the greatest among the CIS nations following the adoption of IFRS. In addition, in 2005â 11, Kazakhstani public firmsâ reporting quality was higher than that of the Russian public firms operating in a similar environment but exempt from the IFRS reporting requirement. Kazakhstan was the first CIS nation to repay its external debt ahead of schedule and to receive an investment grade from Moodyâ s rating agency. The book concludes that Western-style capital market reformsâ in this emerging market with a not-so-distant communist pastâ had significantly positive outcomes. |
| Table of Contents: |
| Foreword; Introduction; Background Information; Global Adoption of IFRS; Resource Dependence Theory & its Application to Kazakhstan's Strategic Decision to Become the First & Early Adopter of IFRS within the CIS; Empirical Analyses; Future Perspectives; Conclusions; Bibliography. |
Item added to 
.png "Click here for catalogues")
