New Institutional Accounting and IFRS

39 Pages Posted: 26 Mar 2011 Last revised: 2 Jun 2011

See all articles by Peter D. Wysocki

Peter D. Wysocki

Boston University Questrom School of Business

Date Written: February 1, 2011


This paper reviews recent advances from the institutional economics and accounting literatures to help build a nascent framework for ‘new institutional accounting’ (NIA) research. The framework has five basic elements: (i) institutional structure (formal versus informal); (ii) level of analysis (macro institutions versus micro organizations); (iii) causation (exogenous versus endogenous institutions); (iv) interdependencies (complementarities), and (v) efficient versus 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’.

Keywords: accounting, IFRS, incentives, institutions, mandatory disclosure, political economy, regulation, standard-setting

JEL Classification: G14, G15, G30, K22, M41, M42

Suggested Citation

Wysocki, Peter D., New Institutional Accounting and IFRS (February 1, 2011). Available at SSRN: or

Peter D. Wysocki (Contact Author)

Boston University Questrom School of Business ( email )

595 Commonwealth Avenue
Boston, MA 02215
United States

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