New institutional accounting and IFRS

Peter Wysocki

Accounting and Business Research, 2011, vol. 41, issue 3, 309-328

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’.

Date: 2011
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DOI: 10.1080/00014788.2011.575298

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