Determinants of Voluntary International Financial Reporting Standards Adoption in Poland

  • Marcin Kędzior Cracow University of Economics, Poland
  • Malgorzata Cyganska University of Warmia and Mazury in Olsztyn Oczapowskiego 2, 10-719 Olsztyn, Poland
  • Dimitrios Syrrakos Manchester Metropolitan University, United Kingdom
Keywords: International Financial Reporting Standards; Chief Executive Officer; supervisory board; production companies


The paper examines the determinants of voluntary International Financial Reporting Standards (IFRS) adoption in Poland. In doing so, it empirically confirms the impact of diverse CEO and supervisory board characteristics on voluntary IFRS adoption. The paper focuses on  446 publicly traded production companies from Poland. The analysis is based on logistic regression analysis. The empirical investigation  confirms the impact on voluntary IFRS adoption of such factors as company size, international investors, international supervisory board, number of supervisory board members, CEO nationality. The paper  contributes to the assessment of  voluntary IFRS adoption determinants, by presenting for the first time CEO and supervisory board characteristics and their impact on voluntary International Financial Reporting Standards (IFRS) adoption, and the determinants of IFRS adoption from Central and Eastern Europe. The paper enhances  existing knowledge of voluntary IFRS adoption by incorporating  new CEO and supervisory board characteristics, thus closing a gap in the relevant literature. The results of the paper are significant from the supervisor’s perspective, the quality of financial statements and the effectiveness of corporate governance systems.