THE IMPACT OF IFRS ADOPTION, INSTITUTIONAL FACTORS, AND GLOBAL ECONOMIC FACTORS ON ECONOMIC PERFORMANCE: MEDIATING THE ROLE OF INFORMATION TRANSPARENCY

Abstract

The economic performance of an organisation relies on the transparency of its information system and the implementation of an effective reporting system. This aspect requires the attention of policymakers and new researchers. This article investigates the effects of adopting international financial reporting standards (IFRS), as well as institutional and global economic factors, on the economic performance of the top ten registered organisations in Iraq. The study also checks the mediating role of information transparency among adoption of IFRS, institutional and global economic factors and economic performance of Iraqi organizations. The study collected the data from the employees of top ten registered organization using surveys. The study also used smart-PLS to check the associations among variables. The study found that the adoption of IFRS, institutional factors, and global economic factors significantly affect the economic performance of Iraqi organisations. The article also investigated the mediating role of information transparency in the relationship between the adoption of IFRS, institutional and global economic factors, and the economic performance of Iraqi organisations. Policymakers derive ideas from studies that explore the effective adoption of International Financial Reporting Standards (IFRS) in organisations to enhance economic performance.