NATIONAL LEGISLATIVE SYSTEMS AND FOREIGN STANDARDS AND REGULATIONS: THE CASE OF INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTION DIMA BOGDAN 1 , DIMA (CRISTEA) ŞTEFANA 2 , NICOLETA MOLDOVAN 1 , PIRTEA MARILEN 1 1 FINANCE DEPARTMENT, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA, ROMANIA 2 FACULTY OF ECONOMICS, VASILE GOLDIS WESTERN UNIVERSITY OF ARAD, ROMANIA bogdandima2001@gmail.com stefana_cristea@yahoo.it nicoletamoldovan2004@yahoo.com marilen.pirtea@feaa.uvt.ro ABSTRACT This study is focused on the linkages between the legislative families as descriptors of national legislative systems and International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB). We consider such analysis as a case study for the more general issue of explaining the preferences of national regulators in the adoption of foreign norms, rules, standards and practices. By using a dataset of 162 jurisdictions and dummy variables designed to capture the current stage of IFRSs adoption and, respectively, the taxonomy of their legislative systems, we find that a full IFRSs adoption is more likely to occur in countries which have principles-based on legislative mono-systems. In addition, we observe that a strong rule of law, with an effective mechanism of property rights reinforcement, as well as the pre-adoption existence of a pro-growth set of public policies can contribute to the encouragement of IFRSs adoption. KEYWORDS IFRSs adoption· Legislative families JEL Classification: K49, M48