• Accounting standards convergence dynamics: International evidence from club convergence and clustering

      Apergis, Nicholas; Christou, Christina; Hassapis, Christis; University of Piraeus; University of Piraeus; University of Cyprus (Emerald, 2014-10-28)
      This paper aims to explore convergence of accounting standards across worldwide adopted measures to investigate whether countries that have not completely adopted International Accounting Standards across the globe have displayed a tendency to act so. The new panel convergence methodology, developed by Phillips and Sul (2007), is employed. The empirical findings suggest that countries form distinct convergent clubs, albeit on a limited prevalence, yielding support to the notion that on a global basis firms and countries have initiated processes that will eventually lead them to a uniform pattern of employing common accounting standards.