Meta Synthesis of the International Financial Reporting Standards (IFRS) Adoption Effects on Capital Market Variables

Abstract

The application of IFRS around the world has been the focus of many researches. In the meantime, a line of thought examines the way of financial reporting and the effects of the capital market related to the change of the accounting approach. Considering that these studies report diverse findings, the current research forms a meta-synthesis of IFRS adoption cases between 2007 and 2023 (September) to measure and describe its effects on capital market variables. The findings of the study, which resulted from the review of 109 published articles, show that there are 6 main dimensions including corporate governance, transparency, market participants' decision-making, financial reporting quality, international integration of markets, and the stock market, 18 subcategories, 81 concepts and 163 codes related with the IFRS adoption in the capital market. The derived framework provides a comprehensive theoretical basis and clear evidence to inform policy evaluations and investigations related to financial reporting and the effects of IFRS adoption in the capital market context. Hence, the results emphasize the effects of IFRS adoption in financial and accounting systems and provide data to reflect its consequences in the capital market

Keywords

• ifrs adoption
• capital market
• financial variables
• economic implications
• meta-synthesis