The international politics of IFRS harmonization
AbstractThe globalization of accounting standards as seen through the proliferation of IFRS worldwide is one of the most important developments in corporate governance over the last decade. I offer an analysis of some international political dynamics of countries' IFRS harmonization decisions. The analysis is based on field studies in three jurisdictions: Canada, China, and India. Across these jurisdictions, I first describe unique elements of domestic political economies that are shaping IFRS policies. Then, I inductively isolate two principal dimensions that can be used to characterize the jurisdictions' IFRS responses: proximity to existing political powers at the IASB; and own potential political power at the IASB. Based on how countries are classified along these dimensions, I offer predictions, ceteris paribus, on countries' IFRS harmonization strategies. The analysis and framework in this paper can help broaden the understanding of accounting's globalization.
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Bibliographic InfoPaper provided by Harvard Business School in its series Harvard Business School Working Papers with number 11-132.
Length: 47 pages
Date of creation: Jun 2011
Date of revision: Oct 2012
accounting standards; globalization; IASB; IFRS; politics;
Find related papers by JEL classification:
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
- M16 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - International Business Administration
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
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