Abstract
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 language | English (US) |
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Pages (from-to) | 309-328 |
Number of pages | 20 |
Journal | Accounting and Business Research |
Volume | 41 |
Issue number | 3 |
DOIs | |
State | Published - Aug 1 2011 |
Keywords
- Accounting
- IFRS
- Incentives
- Institutions
- Mandatory disclosure
- Political economy
- Regulation
- Standard-setting
ASJC Scopus subject areas
- Accounting