University of Oulu

The quality of published accounting information in Russia

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Author: Bagaeva, Alexandra1
Organizations: 1University of Oulu
Format: ebook
Version: published version
Access: open
Online Access: PDF Full Text (PDF, 0.6 MB)
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Language: English
Published: Oulu : University of Oulu, 2010
Publish Date: 2010-05-21
Thesis type: Doctoral Dissertation
Defence Note: Academic dissertation to be presented with the assent of the Faculty of Economics and Business Administration of the University of Oulu for public defence in Auditorium TA105, Linnanmaa, on 2 June 2010, at 12 noon
Reviewer: Professor Lars Hassel
Associate Professor Henrik Nilsson


Since the collapse of the Soviet Union Russia has undergone a number of reforms towards developing market economy. Accounting has encountered dramatic changes over the last two decades. Despite attractive investment opportunities in Russia, investors are often faced with uncertainty, which makes it very important to explore the quality of accounting information published in Russia. The purpose of this thesis is to investigate the quality of published accounting information in Russia. The thesis consists of four essays, each of them addressing the question of the quality of accounting information published in Russia by incorporating the specific Russian institutional environment. Special attention is paid to the role of International Financial Accounting Standards (IFRS) and foreign investors.

The quality of published accounting information is conceptualized by such accounting constructs as conservatism, earnings management and value relevance. This first essay investigates the earnings quality of both listed and non-listed Russian firms and explores whether foreign ownership affects the quality of earnings published by non-listed Russian firms. The second essay examines whether emphasis on international investors is associated with the adoption of or intention to adopt IFRS in Russian firms. The third essay addresses the question of IFRS and Russian Accounting Standards (RAS) accounting quality by using the methodology proposed by Barth et al. (2008) and by value relevance constructs of accounting quality. The fourth essay investigates the value relevance of firms’ integral environmental impact, i.e. a proxy for environmental performance, following the stream of non-financial information value relevance in accounting research.

This thesis provides evidence that the quality of published accounting information published in Russia depends on many factors, the most influential of these being listing on the stock exchange, IFRS and foreign investors. The results of the thesis demonstrate that the institutional characteristics of the country shape accounting numbers and influence the incentives of those preparing financial statements. The findings of the thesis include information valuable for regulators and investors.

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Series: Acta Universitatis Ouluensis. G, Oeconomica
ISSN-E: 1796-2269
ISBN: 978-951-42-6198-5
ISBN Print: 978-951-42-6197-8
Issue: 42
Copyright information: © University of Oulu, 2010. This publication is copyrighted. You may download, display and print it for your own personal use. Commercial use is prohibited.