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Management Challenges in Different Types of African FirmsInternational Financial Reporting Standards and the Capital Market in Rwanda

Management Challenges in Different Types of African Firms: International Financial Reporting... [This chapter investigates the level to which International Financial Reporting Standards (IFRS)International Financial Reporting Standards (IFRS) have been adopted in Rwanda, the challenges faced in their adoption, and the effect of the adoption on capital marketCapital market development in the country. Primary data were collected using a self-administered questionnaire issued to two respondents from the surveyed companies using a stratified sample of 63 companies. In total, 126 responses were received. The data were analyzed with the help of SPSS. Pearson’s correlation coefficient helped measure the level of IFRSInternational Financial Reporting Standards (IFRS) adoption and challanges faced in adopting IFRS for the Rwandan Stock Exchange (RSE)Rwandan Stock Exchange (RSE). A regression analysis was used to measure the strength of the relationship between IFRS adoptionIFRS adoption and the level of capital marketCapital market development. The findings show that there is a positive and significant relationship between IFRS adoption and capital market development in Rwanda. This implies that as companies implement IFRSInternational Financial Reporting Standards (IFRS) in their financial reporting,Financial reporting there is the likelihood of capital market development. Challenges such as a lack of professional qualified accountants and IFRSInternational Financial Reporting Standards (IFRS) adoption guides are the main hindrances for IFRS adoption in Rwanda. ] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Management Challenges in Different Types of African FirmsInternational Financial Reporting Standards and the Capital Market in Rwanda

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Publisher
Springer Singapore
Copyright
© Springer Nature Singapore Pte Ltd. 2017
ISBN
978-981-10-4535-6
Pages
129 –147
DOI
10.1007/978-981-10-4536-3_8
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter investigates the level to which International Financial Reporting Standards (IFRS)International Financial Reporting Standards (IFRS) have been adopted in Rwanda, the challenges faced in their adoption, and the effect of the adoption on capital marketCapital market development in the country. Primary data were collected using a self-administered questionnaire issued to two respondents from the surveyed companies using a stratified sample of 63 companies. In total, 126 responses were received. The data were analyzed with the help of SPSS. Pearson’s correlation coefficient helped measure the level of IFRSInternational Financial Reporting Standards (IFRS) adoption and challanges faced in adopting IFRS for the Rwandan Stock Exchange (RSE)Rwandan Stock Exchange (RSE). A regression analysis was used to measure the strength of the relationship between IFRS adoptionIFRS adoption and the level of capital marketCapital market development. The findings show that there is a positive and significant relationship between IFRS adoption and capital market development in Rwanda. This implies that as companies implement IFRSInternational Financial Reporting Standards (IFRS) in their financial reporting,Financial reporting there is the likelihood of capital market development. Challenges such as a lack of professional qualified accountants and IFRSInternational Financial Reporting Standards (IFRS) adoption guides are the main hindrances for IFRS adoption in Rwanda. ]

Published: May 20, 2017

Keywords: International Financial Reporting; IFRS adoption; Financial reporting; Capital market; Rwandan Stock Exchange; M16; M41; M48

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