انعكاسات قرار تبني معايير التقارير المالية الدولية (IFRS)‎ على مؤشرات كفاءة أداء أسواق الأوراق المالية : دراسة تطبيقية على عينة من الدول في منطقة الخليج العربي

Abstract EN

This study aims at evaluating the experience of IFRS adoption decision in seven countries in the gulf region from 2001 to 2010.

More precisely, this study examines the impact of IFRS adoption on the indicators of the efficiency of stock exchanges performance.

Bulding upon the Market Efficiency Theory, stock prices should reflect all the available information without any additional costs for the investors.This, in turn, increases investors' confidence about the information and financial reports quality.

It has been argued that IFRS adoption increases the transparency and financial reports quality, which, in turn, increases stock exchanges efficiency.

Consequently, this study contributes to the policy makers and other stock market authority throught helping them to assess the success of IFRS adoption decision in order to generalize the idea of that adoption to other countries in the region.

The results indicate that there is a positive and significant association between IFRS adoption and the indicators of stock exchange efficiency, suggesting that IFRS adoption results in reducing the value of abnormal accruals, increasing market liquidity and reducing the cost of equity capital.

The study provides important suggestions, most importantly, increasing the awareness of financial reports users and preparers about the advantages of IFRS adoption.

Moreover, there is a vital need to work on enforcing the adoption to include all sectors