The State of Accounting and the State of the State

Ballas, Apostolos; Hevas, Dimosthenis L.; Neal, David

doi:10.1007/978-1-4615-4589-7_2

Cited by 23 publications

(44 citation statements)

References 7 publications

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“…Greece is classified as a code-law Continental European country with a stakeholder-oriented and taxation-driven national accounting system (Ballas et al, 1998;Nobes, 2008;Nobes 2011). Similar to most Continental European domestic accounting standards, under Greek accounting standards, the use of FVA is limited in favor of historical cost accounting.…”

Section: Implementing Ifrs In An Unfavorable Environmentmentioning

confidence: 99%

“…In addition to the origins of Greek accounting standards, another important reason for classifying Greece as an unfavorable environment for the implementation of IFRS is the absence of trust between the Greek state and its citizens as well as amongst citizens (Ballas et al, 1998). The absence of trust has been diachronically playing a key role in the development of detailed accounting rules, which virtually hinder companies to report their fundamentals in a true and fair view for the sake of formalism: Under Greek accounting standards, companies have to follow very specific rules that leave little space for management discretion.…”

Section: Implementing Ifrs In An Unfavorable Environmentmentioning

confidence: 99%

“…As discussed in the previous section, Greece is regarded as an unfavorable environment for the application of IFRS due to its Continental European accounting tradition as well as its companies' formalistic behavior (Ballas et al, 1998 (Wines et al, 2007, p. 863). Taking into account that these objections are primarily derived from countries with long traditions in accounting systems similar to IFRS (i.e., the so-called Anglo-Saxon, common-law countries), it can be assumed that participants in markets with the characteristics of the Greek market may have even greater concerns about goodwill and similar accounting numbers.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…Specifically, it examines the value relevance of purchased goodwill under IFRS in a number of companies listed on the Athens Stock Exchange (ASE). Greece can be classified as an unfavorable environment because it is a code-law Continental European country with a stakeholder-oriented and taxation-driven national accounting system (Ballas et al, 1998;Nobes, 2008). In addition, because Greece is a low-trust society, its accounting environment is highly formalistic; hence, the use of FVA is limited in favor of historical cost accounting.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

Baboukardos

Rimmel

2014

Accounting Forum

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The accounting treatment of purchased goodwill under IFRS has been severely criticized due to the extensive use of fair value accounting. The purpose of this study is to enrich the ongoing debate upon this issue by drawing attention to the market valuation implications of goodwill in a country outside the Anglo-Saxon accounting paradigm, where the application of fair value accounting has been seen as more problematic. The results indicate that, in the case of purchased goodwill, fair value accounting generates relevant accounting numbers but only in companies that comply highly with IFRS disclosure requirements.

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Section: Implementing Ifrs In An Unfavorable Environmentmentioning

confidence: 99%

Section: Implementing Ifrs In An Unfavorable Environmentmentioning

confidence: 99%

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

Baboukardos

Rimmel

2014

Accounting Forum

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“…Additionally, various authors (Ballas, 1994;Ballas et al 1998;Baralexis, 2004) suggest that Greek firms rely on private deals to obtain funding, which reduces the informativeness of accounting reports. Tzovas (2006) states that high levels of discretion associated with a poor institutional setting and low level of monitoring creates the conditions for earnings management to materialize.…”

Section: The Greek Banking Marketmentioning

confidence: 99%

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Anagnostopoulos¹,

Skordoulis²

2011

1st Annual International Conference on Accounting and Finance (AF 2011)

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In this paper, we examine the under-researched Greek banking market; inadequate transparency and disclosure about exposures has led to counterparty concerns and renewed strains in bank funding markets. Greek banks, now struggling with the need to increase provisions against bad debts, asset write-offs and with problems of liquidity as a result of being frozen out of the interbank lending market are completely reliant on the European Central Bank. The study examines the impact that Basel II had on the risk disclosure practices in the Greek banking sector. The disclosure practices and their potential relationship with size, risk profile and profitability of the most actively traded Greek banks are examined. In 2010, the latest wave of outcry from investors surfaced, demanding the disclosure of information showing how Greece and Greek banks used derivatives to hide their deficits when Greek banks entered into a large number of private, off-market swaps from 2001 through 2007. There is a compelling public interest in relevant information being disclosed.The results show that inadequacies still exist despite the fact that Basel II managed to raise the risk disclosing amounts in the annual reports of the Greek banks. The informational content of the disclosures is suspect, due to that little quantitative information is disclosed; favouritism towards qualitative and past related disclosures is revealed.Furthermore, no quasi-norms between the size, profitability or risk profile of the institutions and their risk disclosing quantities is revealed.Dr. Rosemary Skordoulis Principal London School of Business Management London, WC1E 7JN UK Disclosing policies and the quantity of disclosures have evolved, throughout the examined period in the Greek banking industry; yet, transparency issues and quality problems are still present owing to the high degree of secrecy of the internal Greek market.

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Adoption of the International Financial Reporting Standards by Greek non-listed companies: The role of coercive and hegemonic pressures

2017

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In this paper we examine the motivations for preparers in Greek non-listed to adopt International Financial Reporting Standards (IFRS). Previous literature has focused on listed companies and assessed the effect of IFRS on market efficiency to justify its adoption. Using data from a cross-sectional survey and from interviews with senior managers, our analysis indicates that the motivations to adopt IFRS in Greece are not primarily related to the technical competence of the standards. We draw insights from literature on institutional theory and Gramsci's work on hegemony (Gramsci, 1971), and show that the decision to comply with IFRS can also be motivated by coercive and hegemonic pressures, which are exerted by powerful institutional constituents as they interact with organisational interests at the international and national level. The adoption of IFRS is driven predominantly by the pressures exerted by parent companies on their subsidiaries and by the legal requirements of the state, but also through borrowing and debt-contracting requirements as enforced by civil society actors, such as financial institutions. This mobilisation of power plays a pivotal role in supporting the establishment of IFRS among non-listed companies.

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The State of Accounting and the State of the State

Cited by 23 publications

References 7 publications

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Adoption of the International Financial Reporting Standards by Greek non-listed companies: The role of coercive and hegemonic pressures

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