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New institutional accounting and IFRS

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  • Peter Wysocki

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’.

Suggested Citation

  • Peter Wysocki, 2011. "New institutional accounting and IFRS," Accounting and Business Research, Taylor & Francis Journals, vol. 41(3), pages 309-328, August.
    • Handle: RePEc:taf:acctbr:v:41:y:2011:i:3:p:309-328
    DOI: 10.1080/00014788.2011.575298
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    References listed on IDEAS

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    1. Commander, Simon & Svejnar, Jan, 2007. "Do Institutions, Ownership, Exporting and Competition Explain Firm Performance? Evidence from 26 Transition Countries," IZA Discussion Papers 2637, Institute of Labor Economics (IZA).
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    3. Morck, Randall & Yeung, Bernard, 2011. "Economics, History, and Causation," Business History Review, Cambridge University Press, vol. 85(1), pages 39-63, April.
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