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Authors: MERWE OBERHOLZER, MATTHEW OLUBAYO OMOTOSO, DANIE SCHUTTE, PIETER BUYS.
DOI: 10.2478/subboec-2022-0004
Published Online: 2022-03-30
Published Print: 2022-03-30
pp. 44-62
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Abstract: Within the context that the adoption of International Financial Reporting Standards (IFRS) can be linked to institutional isomorphism, the purpose of the study was to determine how successful IFRS-adopted African countries are to convert governance and economic factors into foreign direct investment (FDI) and foreign portfolio investment (FPI). Data envelopment analysis (DEA) was used to develop two models to calculate the technical efficiency (TE) for 16 African countries that adopted IFRS (2014-2019). The first model considered how multiple economic factors as input variables are converted into FDI and FPI, while similarly, the second model considered governance factors as input variables.
JEL Classification: C61; F18; M41.
Keywords: International Financial Reporting Standards (IFRS), foreign direct investment (FDI), foreign portfolio investment (FPI), data envelopment analysis (DEA), institutional isomorphism.
