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THREE STUDIES RELATED TO THE INSTITUTIONALIZATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS.
Title
THREE STUDIES RELATED TO THE INSTITUTIONALIZATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS.
Creator
Alon, Anna, Dwyer, Peggy, University of Central Florida
Abstract / Description
This dissertation consists of three separate, but related, studies on the institutionalization of International Financial Reporting Standards (IFRS). The first study examines the relationship between the national variables and the level of IFRS adoption. Theoretical insights regarding the level of national IFRS adoption come from the world-level institutional theory (Meyer et. al., 1997). Archival data are utilized for the study. The findings indicate that countries with weaker national...
Show moreThis dissertation consists of three separate, but related, studies on the institutionalization of International Financial Reporting Standards (IFRS). The first study examines the relationship between the national variables and the level of IFRS adoption. Theoretical insights regarding the level of national IFRS adoption come from the world-level institutional theory (Meyer et. al., 1997). Archival data are utilized for the study. The findings indicate that countries with weaker national governance structures and lower economic development demonstrate the highest level of commitment to IFRS. Nationalism was found to influence the extent of adoption. The study contributes to IFRS adoption literature by recognizing the multi-level possibilities of IFRS adoption and discovering the factors that drive the degree of IFRS adoption on a national level. The second study examines the ongoing change in the U.S. accounting regulation related to IFRS. The specific event investigated is an historic ruling by the Securities and Exchange Commission (SEC) made in 2007 to accept IFRS filings from foreign issuers. This move toward acceptance of IFRS by the primary U.S. regulator is of academic interest because it represents an opportunity to study regulatory institutional change. The event is analyzed using a qualitative study of the rhetoric found in the comment letters submitted to the SEC. The following theoretical frameworks were used to interpret the qualitative findings: a model of institutional change (Greenwood et. al., 2002), the role of rhetoric in legitimating institutional change (Suddaby & Greenwood, 2005), and the agents of change model (Djelic & Quack, 2003b). The conversation of opponents and proponents through the comment letters revealed the struggle of the participants to legitimize their positions. As expected, rhetorical themes associated with the moral and pragmatic legitimacy of their positions were utilized. Unexpectedly, the shifting site of regulation and the related power of SEC were troubling for proponents and opponents of the change. The study contributes to transnational accounting regulation literature in a number of ways. It presents a synthesis of different theoretical perspectives to investigate institutional change in accounting regulation. It also deepens the understanding of how institutional change is theorized by evaluating the rhetoric of domestic, foreign, and transnational participants. The third study evaluates the diffusion of IFRS in developing countries, using the specific case of Russia. The study investigates whether individual perceptions of various aspects of financial reporting and reforms are associated with IFRS adoption. Particularly of interest is whether there are differences between voluntary adopters and those for which adoption was mandated. The data were obtained from a 2007 survey exploring RussiaÂÂ's transition to IFRS. In general, adopters had a more positive view of transition toward IFRS and financial reforms in Russia. Further, the perceptions of reforms by adopters did not vary based on whether the adoption was required by a national or a foreign mandate. The study contributes both theoretically and empirically to the literature on IFRS in developing countries. Taken together, these three studies focus on issues that have not been addressed previously in the accounting literature. They will advance the international accounting literature on factors related to IFRS adoption, regulations, and influences.
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Date Issued
2010
Identifier
CFE0003286, ucf:48543
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0003286
The Expansion of Financial Regulation to Include Humanitarian Issues:An Examination of the Development of Conflict Mineral Reporting Requirements Using Actor-Network Theory
Title
The Expansion of Financial Regulation to Include Humanitarian Issues:An Examination of the Development of Conflict Mineral Reporting Requirements Using Actor-Network Theory.
Creator
Tennant, Robert, Roberts, Robin, Robb, Sean, Sutton, Steven, Roberts, Sherron, University of Central Florida
Abstract / Description
This study conceptually and empirically examines the establishment of certain financial regulation that resulted from the Global Financial Crisis (GFC) of 2007-2009. The crisis led to the establishment of the most extensive change in the regulation of the financial sector since the Great Depression (Green, 2011). During the forty years leading up to the crisis, the United States had engaged in a process of increased deregulation to promote greater efficiency (Yaron (&) Hendershott, 1998). The...
Show moreThis study conceptually and empirically examines the establishment of certain financial regulation that resulted from the Global Financial Crisis (GFC) of 2007-2009. The crisis led to the establishment of the most extensive change in the regulation of the financial sector since the Great Depression (Green, 2011). During the forty years leading up to the crisis, the United States had engaged in a process of increased deregulation to promote greater efficiency (Yaron (&) Hendershott, 1998). The belief that reduced regulation would improve efficiency and foster innovation became the mantra of many economic advisers to policy setters, to the point that as the regulations were relaxed there tended to be little fanfare or outrage to changes in regulation policy. This is true with both republican and democrat administrations throughout this period. Since 2000, there have been two major legislative actions that can be viewed as antithetical to the principle of deregulation, the first being Sarbanes-Oxley, which occurred as a result of Enron and other accounting scandals. The second, known as the Dodd-Frank Act, resulted in legislation that bailed out various sectors of the economy and fundamentally changed the structure of financial regulation in the United States.Specifically, I examine one part of this regulation related to corporate disclosure of activities that deal with conflict minerals. Within the political debates over regulation of corporate disclosure, an interest in corporate activities in war-torn areas emerged. Ultimately, regulation was adopted that required corporations to disclose operative activities that included mining of minerals in countries affected by political conflict. My research explicates using an actor-network approach, how and why activities in the U.S. political arena led to mandated disclosure of corporate activities dealing with the mining of local mineral deposits eventually referred to as (")conflict minerals.(") My findings show that a confluence of unlikely parties found common ground in their assessment of the issues surrounding the mining of conflict minerals and worked together towards the adoption of disclosure regulation that lead to more transparency in corporate reporting of their involvement in commercializing mineral deposits.
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Date Issued
2017
Identifier
CFE0006668, ucf:51234
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0006668