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Financial Audit as a Manifestation of Institutional Entrepreneurship

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  • Flavian Clipa
  • Ionel Bostan
  • Raluca Irina Clipa

Abstract

In the rich economic literature on entrepreneurship, the economic, social and normative conditions catalyzing its productive manifestation, we may observe a relative lack of interest for the study of the way in which institutional entrepreneurship replaces specific imperfections typical for formal and informal institutions providing solutions by means of financial auditing to spread the generalized trust in business in society. In this context, our study aims from an institutional perspective to underline that the financial audit is one of the main means used to spread trust in society resulting in the benchmarking of corporate behavior towards meaningful actions stimulating economic growth and development.

Suggested Citation

  • Flavian Clipa & Ionel Bostan & Raluca Irina Clipa, 2016. "Financial Audit as a Manifestation of Institutional Entrepreneurship," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 8(3), pages 33-37, September.
    • Handle: RePEc:khe:journl:v:8:y:2016:i:3:p:33-37
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    References listed on IDEAS

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    1. Boettke, Peter J. & Coyne, Christopher J., 2009. "Context Matters: Institutions and Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 5(3), pages 135-209, March.
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    3. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
    4. Feige, Edgar L., 1990. "Defining and estimating underground and informal economies: The new institutional economics approach," World Development, Elsevier, vol. 18(7), pages 989-1002, July.
    5. Baumol, William J., 1996. "Entrepreneurship: Productive, unproductive, and destructive," Journal of Business Venturing, Elsevier, vol. 11(1), pages 3-22, January.
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    More about this item

    Keywords

    Institutional entrepreneurship; standards; financial audit;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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