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From totalitarianism to capitalism – the case of IFRS adoption in Vietnam

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  • Lisa‐Uyen Nguyen
  • Asheq Rahman

Abstract

We investigate the strategic process of contextualisation of International Financial Reporting Standards (IFRS) in an economy transitioning from totalitarianism to capitalism – Vietnam – paying attention to tensions between actors involved in the process. This study employs the framework suggested by Puxty et al. to analyse the behaviour of actors of the State, Market, and Profession. We find that Market's needs trigger the IFRS contextualisation, which is institutionalised by the state. IFRS‐oriented rules undergo ‘reality tests’ and are tailored to fit the local context. Despite active interactions between the actors, the dominant role of the State results in some tensions.

Suggested Citation

  • Lisa‐Uyen Nguyen & Asheq Rahman, 2019. "From totalitarianism to capitalism – the case of IFRS adoption in Vietnam," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(3), pages 1649-1680, September.
    • Handle: RePEc:bla:acctfi:v:59:y:2019:i:3:p:1649-1680
    DOI: 10.1111/acfi.12472
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    Cited by:

    1. Manh-Tung Ho & Ngoc-Thang B. Le & Hung-Long D. Tran & Quoc-Hung Nguyen & Manh-Ha Pham & Minh-Hoang Ly & Manh-Toan Ho & Minh-Hoang Nguyen & Quan-Hoang Vuong, 2021. "A Systematic and Critical Review on the Research Landscape of Finance in Vietnam from 2008 to 2020," JRFM, MDPI, vol. 14(5), pages 1-24, May.
    2. Ho, Tung Manh & Nguyen, Quoc-Hung & Le, Ngoc-Thang B. & Tran, Hung-Long D., 2021. "Preliminary findings on structural issues in the Vietnamese financial research landscape from 2008-2020," OSF Preprints p2ws4, Center for Open Science.
    3. Guilherme Belloque & Martina K Linnenluecke & Mauricio Marrone & Abhay K Singh & Rui Xue, 2021. "55 years of Abacus: Evolution of Research Streams and Future Research Directions," Abacus, Accounting Foundation, University of Sydney, vol. 57(3), pages 593-618, September.

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