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Full IFRS and IFRS for SMEs Adoption by Private Firms

Empirical Evidence on Country Level


Maximilian Saucke

The issuance of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) in July 2009 has mixed up the bipolar financial reporting landscape between Local Generally Accepted Accounting Principles (GAAPs) and Full IFRS by adding a third dimension to international GAAP choice. The study examines the characteristics and determinants of Full IFRS and IFRS for SMEs adoption by private firms in 110 countries. It finds empirical evidence for the continued existence of local versions of IFRS and the worldwide emergence of a two standard system. The findings also suggest that while Full IFRS adoption was mainly driven by network effects and political pressures, countries adopt the IFRS for SMEs notably due to cost-benefit considerations.
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This study was conducted during my time as a PhD student at the Chair of International Accounting at the University of Münster. The thesis was accepted as a dissertation by the Münster School of Business and Economics in November 2014.

In this acknowledgement I wish to thank everyone who supported me during the four-year process of working on my thesis and those who made my time in Münster so enriching and enjoyable. First, I would like to thank my supervisor, boss, and teacher Prof. Dr. Peter Kajüter who accepted me as a PhD student and provided me with great support during my time at his chair. He contributed greatly to the success of this research project by keeping me on the straight and narrow and giving me a lot of guidance regarding the research’s focus, design and structure. I would also like to thank Prof. Dr. Hans-Jürgen Kirsch who reviewed and evaluated my thesis as a second referee. My sincere thanks are further given to Prof. Dr. Ulrich van Suntum for being the third referee at my disputation. Furthermore, I like to thank Prof. em. Dr. Jochen Sigloch and StB Prof. Dr. Rolf Uwe Fülbier from the University of Bayreuth who sparked my interest in the field of Accounting and International Financial Reporting in particular.

The empirical results of this thesis would not have been achieved without the support of my research partners Dr. Gernot Hebestreit (Grant Thornton,...

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