LEADER 05071oam 2200577 c 450 001 9910956481803321 005 20260102090118.0 010 $a9783838209876 010 $a3838209877 024 3 $a9783838269870 035 $a(CKB)3710000001386632 035 $a(MiAaPQ)EBC5782855 035 $a(Perlego)773191 035 $a(ibidem)9783838269870 035 $a(EXLCZ)993710000001386632 100 $a20260102d2017 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 14$aThe Effects and Implications of Kazakhstan?s Adoption of International Financial Reporting Standards $eA Resource Dependence Perspective /$fOksana Kim, Andreas Umland, Svetlana Vady 205 $a1st ed. 210 $aHannover$cibidem$d2017 215 $a1 online resource (145 pages) $ccolor illustrations 225 0 $aSoviet and Post-Soviet Politics and Society$v167 311 08$a9783838210377 311 08$a3838210379 311 08$a9783838269870 311 08$a383826987X 320 $aIncludes bibliographical references. 327 $aIntro -- Table of Contents -- List of Tables -- List of Figures -- Foreword -- Chapter 1. Introduction -- Chapter 2. Background information -- 2.1. Kazakhstan's history and development after the collapse of the Soviet Union -- 2.2. Capital market reforms and adoption of International Financial Reporting Standards (IFRS) in Kazakhstan -- 2.2.1. National stock market system -- 2.3. Adoption of International Financial Reporting Standards (IFRS) in Kazakhstan -- Chapter 3. Global adoption of IFRS -- 3.1. History behind the global movement to adopt a uniform set of accounting standards and the evolvement of IFRS -- 3.2. Empirical evidence regarding implementation of IFRS: economic and legal explanations to the degree of success of IFRS adoption -- 3.3. Alternative explanations to the IFRS adoption consequences, not limited by legal andeconomic arguments. Evidence regarding the IFRS adoption benefits for CIS countries -- Chapter 4. Resource dependence theory and its application to Kazakhstan's strategic decision to become the first and early adopter of IFRS within the CIS -- 4.1. The main provisions of the Resource Dependence Theory -- 4.2. Application of the Resource Dependence Theory to Kazakhstan's strategic decision to become the first adopter of IFRS within the CIS -- Chapter 5. Empirical Analyses -- 5.1. Value relevance of reported information in the post-adoption period -- 5.2. Comparison of value relevance of reported information for Kazakhstani and Russian public firms -- 5.3. Examining changes in market efficiency over time, before and after IFRS adoption, using the KASE index -- 5.2.1. Autocorrelation Test -- 5.2.2. The unit root test -- 5.4. Kazakhstani blue chips cross-listed in London: The market reaction to the crosslisting event -- Chapter 6. Future perspectives. -- 6.1. Kazakhstan's success and future perspectives. 327 $a6.2. The future of the IFRS reporting practices in Kazakhstan -- Chapter 7. Conclusions -- Bibliography. 330 $aDespite 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, Kazakhstan?s capital market reforms mirrored those of Russia due to the two countries? 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 Kazakhstan?s inflow of Foreign Direct Investments was the greatest among the CIS nations following the adoption of IFRS. In addition, in 2005?11, Kazakhstani public firms? 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 Moody?s rating agency. The book concludes that Western-style capital market reforms?in this emerging market with a not-so-distant communist past?had significantly positive outcomes. 606 $aKasachstan 606 $aIFRS 606 $aFinance 615 4$aKasachstan 615 4$aIFRS 615 4$aFinance 676 $a346.519506648 700 $aKim$b Oksana$4aut$01634955 702 $aUmland$b Andreas$cDr.$4edt 702 $aVady$b Svetlana$4aui 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910956481803321 996 $aThe effects and implications of Kazakhstan's adoption of international financial reporting standards$94008197 997 $aUNINA