New institutional accounting and IFRS

Peter Wysocki

Research output: Contribution to journalArticlepeer-review

50 Scopus citations


This paper reviews recent advances from the institutional economics and accounting literature to help build a nascent framework for 'new institutional accounting' (NIA) research. The framework has five basic elements: (i) institutional structure (formal vs. informal); (ii) level of analysis (macro institutions vs. micro organisations); (iii) causation (exogenous vs. endogenous institutions); (iv) interdependencies (complementarities); and (v) efficient vs. inefficient outcomes. I apply the framework to help provide insights into the determinants and outcomes of accounting institutions (including IFRS) and non-accounting institutions observed around the world. I conclude with a discussion of opportunities and directions for future research on 'new institutional accounting.

Original languageEnglish (US)
Pages (from-to)309-328
Number of pages20
JournalAccounting and Business Research
Issue number3
StatePublished - Aug 1 2011


  • Accounting
  • IFRS
  • Incentives
  • Institutions
  • Mandatory disclosure
  • Political economy
  • Regulation
  • Standard-setting

ASJC Scopus subject areas

  • Accounting


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