International financial reporting standards (IFRSs) adoption in Africa: Abibliometric analysis

Figures & data

Figure 1. Mandatory adoption of IFRSs for domestic public companies.

Figure 2. Voluntary use of IFRS for domestic public companies.

Figure 3. IFRSs required for listing by foreign companies.

Figure 4. IFRSs required or permitted for SMEs.

Table 1. Regression results of year of first IFRS adoption and number of documents

Number of Documents	Coefficient	t-stat	P-value
Year of Adoption	.0004807	0.66	0.513
Constant	.6896949	0.56	0.578
R-Squared	0.0083
Observations	54

Table 2. Regression results of IFRS adoption by domestic public companies, voluntary use for domestic public companies, listing by foreign companies and use by SMEs

IFRS adoption by domestic public companies	Coefficient	t-stat	P-value
IFRS use for Listings by Foreign companies	.6886912	8.84	0.000
IFRS use for SMEs	.265989	3.34	0.002
Constant	.1601017	2.69	0.010
R-Squared	0.7158
Observations	54

Figure 5. Yearly publication and Citation Count.

Table 3. Pearson Correlation Matrix for Publication and Citation count

	Publication Count	Citation Count
Publication Count	1.0000
Citation Count	0.8621	1.0000

Table 4. Regression results for Publication and Citation count

Citation Count	Coefficient	t-stat	P-value
Publication Count	3.463147	5.89	0.000
Constant	−5.272121	−1.20	0.252
R-Squared	0.7432
Observations	14

Figure 6. Publication Access.

Figure 7. Number of publications per Country.

Figure 8. Subject Area.

Figure 9. Most Productive Institution Analysis.

Figure 10. Document Type Analysis.

Table 5. Top 21 Prolific Authors

Authors	Institution Affiliation	Pub lication Count	Per centage	Author’s Citations	H index
Maroun, W.	University of Witwatersrand, Johannesburg, South Africa	5	0.09	432	11
Otekunrin, A.O.	Landmark University, Omu Aran, Nigeria	5	0.09	38	4
Nwanji, T.I.	Landmark University, Omu Aran, Nigeria	4	0.07	35	3
Eluyela, D.F.	Landmark University, Omu Aran, Nigeria	3	0.05	42	4
Falaye, A.J.	Landmark University, Omu Aran, Nigeria	3	0.05	13	3
Gerber, A.J	Universiteit van Pretoria, Pretoria, South Africa	3	0.05	233	6
Gerber, M.C.	Universiteit van Pretoria, Pretoria, South Africa	3	0.05	6	2
Milondzo, K.	University of Limpopo, Sovenga, South Africa	3	0.05	14	3
Adeyemo, K.A.	Covenant University, Ota, Nigeria	2	0.04	0	0
Ajayi, S.A.	Covenant University, Ota, Nigeria	2	0.04	11	3
Coetzee, S.A.	Universiteit van Pretoria, Pretoria, South Africa	2	0.04	88	6
Egbide, B.C.	Covenant University, Ota, Nigeria	2	0.04	16	3
Elbannan, M.A.	Minnesota State University, United States	2	0.04	91	4
Fakile, S.A.	Covenant University, Ota, Nigeria	2	0.04	11	3
Folasade, O.	Covenant University, Ota, Nigeria	2	0.04	2	1
Iyoha, F.O	Covenant University, Ota, Nigeria	2	0.04	60	3
Kouki, A.	University of Sfax, Sfax, Tunisia	2	0.04	8	2
Newman, W.	University of Limpopo, Sovenga, South Africa	2	0.04	12	2
Olowookere, J.K.	Osun State University, Osogbo, Nigeria	2	0.04	7	2
Schmulian, A.	Universiteit van Pretoria, Pretoria, South Africa	2	0.04	70	5
Van Zijl, W.	University of Witwatersrand, Johannesburg, South Africa	2	0.04	28	3

Table 6. Top 11 Research Outlets

Source Title	Publisher	No	Citation	Cite score	Year in Scopus
South African Journal of Economic and Management Sciences	Open Journals Publishing AOSIS (Pty) Ltd	4	6	0.58	1999
IBIMA	**	4	**	**	**
Meditari Accountancy Research	Emerald	3	16	3.73	2012
Mediterranean Journal of Social Sciences	MCSER-Mediterranean Center of Social and Educational research	3	4	*	2010
Agrekon	Taylor & Francis	2	2	0.51	1962
British Accounting Review	Elsevier	2	34	3.73	1988
Corporate Ownership and Control	Virtus Interpress	2	0	*	2003
International Research Journal of Finance and Economics	European Journals Inc.	2	9	*	2009
Journal of Financial Reporting and Accounting	Emerald	2	0	0.46	2018
Journal of Money Laundering Control	Emerald	2	0	1.02	1997
Risk Governance and Control Financial Markets and Institutions	Virtus Interpress	2	4	*	2011

* = Discontinued from Scopus

** = Details not available on Scopus

Table 7. Regression analysis of Outlet Citation count and year in Scopus

Outlet Citation count	Coefficient	t-stat	P-value
Year in scopus	−.0846384	−0.37	0.720
Constant	176.8531	0.39	0.708
R-Squared	0.0169
Observations	10

Table 8. Top 20 Cited Documents

Source	Title	Aim of the Study	Method	Findings	Publication outlet	Cita tions
Elbannan (2011)	Accounting and stock market effects of international accounting standards adoption in an emerging economy	To determine the impact of the mandatory adoption of an international accounting-based standard on firm valuation and earnings quality and firm valuation.	Archival study- Panel Data	Firm valuation is significantly and negatively affected by IAS	Review of Quantitative Finance and Accounting	27
Maroun (2017)	Assuring the integrated report: Insights and recommendations from auditors and preparers	To develop an initial framework for the assurance of an integrated reports	Recorded interview	Restricted assurance, integrated assurance and Delphi-inspired assurance are assurance strategies for content of integrated reporting	British Accounting Review	20
Maroun and van Zijl (2014)	Isomorphism and resistance in implementing IFRS 10 and IFRS 12	To explore preparers’ resistance of financial statements influences how IFRS 10 and 12 are applied	Interview	A dynamic for change and reform that is far from being a neutral technical process is produced from the functioning of accounting systems	British Accounting Review	13
Urban and Govender (2012)	Empirical Evidence on Environmental Management Practices	To determine levels of environmental management practices within the industrial coatings industry	Survey	Multi-nationals’ involvement in export markets are committed to higher levels of environmental management practices	Engineering Economics	13
Farag (2009)	The accounting profession in Egypt: Its origin and development	To provide an historical review on the accounting profession in Egypt	Historical	Changes in the society impacts on anticipated change in a timely manner	International Journal of Accounting	12
Motelle and Biekpe (2015)	Financial integration and stability in the Southern African development community	To test if deeper financial integration causes financial instability in the domestic financial system	Archival Study-Panel Data	To curb financial instability, an effective monetary policy, real interest rate and exchange rate policies is required	Journal of Economics and Business	11
Van Zijl and Maroun (2017)	Discipline and punish: Exploring the application of IFRS 10 and IFRS 12	To demonstrate how a sense of enclosure, partitioning, hierarchical surveillance and normalising sanction is used to encourage compliance with new accounting prescriptions	Interview	The disciplinary potential of the new standards is sufficient to support the valid expectation of compliance in the eyes of stakeholders when complete panoptic control over the consolidation accounting space is not achieved	Critical Perspectives on Accounting	10
Maroun (2018)	Modifying assurance practices to meet the needs of integrated reporting: The case for “interpretive assurance”	To ascertain a different approach to assurance and elements of an interpretive assurance model	Interview	Elements of an interpretive assurance model focusses on providing assurance on the interpretation and analysis of information included in an integrated report rather than on underlying data	Accounting, Auditing and Accountability Journal	9
Negash (2008)	Liberalisation and the value relevance of accrual accounting information: evidence from the Johannesburg securities exchange	To determine the questions pertaining to the expected gains from corporate information liberalisation after the adoption of international accounting standards	Archival Study- Panel Data	Panel data tests on a version of Ohlson’s model showed poor fits.	Afro-Asian Journal of Finance and Accounting	9
Wingard et al. (2016)	The legitimacy of IFRS An assessment of the influences on the due process of standard-setting	To examine the effect of the due process of standard-setting regarding to the legitimacy of the International Financial Reporting Standards (IFRS)	Literature Review	Actual participation in IFRS is dominated by constituents from Europe, with African and South American being least active.	Meditari Accountancy Research	8
Coetzee and Schmulian (2013)	The effect of IFRS adoption on financial reporting pedagogy in South Africa	To assess significant influence of the adoption of IFRS on accounting education in South Africa.	Survey	“English” and “Afrikaans” universities are faced with enormous challenge of shifting from rule-based pedagogy to framework-based teaching of financial reporting	Issues in Accounting Education	8
Dahawy (2009)	Company characteristics and disclosure level the Egyptian	To ascertain the significant corporate characteristics that affect the levels of compliance with required disclosure	Archival- Cross-sectional Data	Egyptian highly secretive culture determines the degree of disclosure by Egyptian companies.	International Research Journal of Finance and Economics	8
Otekunrin et al. (2017)	Adoption of International Financial Reporting Standard, capital structure and profitability of selected quoted firms in Nigeria	To explore if there is a connection between capital structure and profitability of quoted firms in Nigeria when listed firms adopt IFRS	Archival- Panel Data	The relationship between capital structure and profitability of firms remains unchanged before and after the adoption of IFRS	Proceedings of the 29th International Business Information Management Association Conference—(IBIMA)	6
Welbeck (2017)	The influence of institutional environment on corporate responsibility disclosures in Ghana	To assess the level and trend of corporate responsibility disclosures (CRD) in reports of firms quoted on the Ghana Stock Exchange against the Global Reporting Index	Archival Study- Content Analysis	There is an increase in the levels of disclosure of firms quoted in the Ghana stock exchange but, with a significant dip in the year 2010.	Meditari Accountancy Research	6
Newman et al. (2017)	An Evaluation of the effectiveness of financial statements in disclosing true business performance to stakeholders in hospitality industry (A case of Lester-Lesley limited)	To examine the efficacy of the financial statements in revealing true business performance to stakeholders in hospitality industry	Mixed method-Questionnaires and structured interviews	Current developments in International Financial Reporting Standard and Generally Accepted Accounting Standards is an achievement towards disclosure of true business performance to stakeholders	Academy of Accounting and Financial Studies Journal	5
Coetzee et al. (2016)	Differences in students’ reading comprehension of international financial reporting standards: a South African case	To examine differences in students’ reading comprehension of International Financial Reporting Standards in a South African financial reporting class with a heterogeneous student cohort.	Survey	Prior academic performance, language of instruction, first language and enrolment in the programme were statistically significant in students’ reading comprehension	Accounting Education	5
Fakhfakh (2015)	The readability of international illustration of auditor’s report: An advanced reflection on the compromise between normative principles and linguistic requirements	To identify the linguistic problems related to the preparation of reports	Content Analysis	External auditors must optimize the presentation of Audit reports in the presence of conflicting requirements	Journal of Economics, Finance and Administrative Science	5
Kouki (2015)	Accounting valuation models under international financial reporting standards: Evidence from some European listed companies	To assess if value relevance of accounting information from 2000 to 2004 is determined by the voluntary IFRS adoption	Archival-Panel data	On the relevance of accounting information, Fair value accounting model is more relevant than historical cost accounting model.	International Journal of Managerial and Financial Accounting	5
Otekunrin et al. (2018)	Financial Ratio Analysis and Market Price of share of Selected Quoted Agriculture and Agro-allied firms in Nigeria after adoption of International Financial Reporting Standard	To ascertain if IFRSs adoption impacts on the relationship between Financial Ratio Analysis and Market Price of shares in Selected listed Agriculture and Agro-allied firm in Nigeria	Archival-Panel data	Liquidity Ratio and Return on Equity Ratio are not significantly related to Market price of shares on the Nigerian Agriculture and Agro-Allied Quoted firms	Journal of Social Sciences Research	4
Newman et al. (2016)	A literature review on the impact of IAS/IFRS and regulations on quality of financial reporting	To determine if the use of IFRS increases the financial reporting quality in Zimbabwe	Literature Review	The effects of IFRS adoption in Zimbabwe and reporting quality is not conclusive	Risk Governance and Control: Financial Markets and Institutions	4

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