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One hand or two? : IFRS meets Guanxi

Title data

Balfoort, Ferdinand ; Baskerville, Rachel F. ; Fülbier, Rolf Uwe:
One hand or two? : IFRS meets Guanxi.
2013
Event: European Accounting Association: 36th annual congress , 6.-8. Mai 2013 , Paris, France.
(Conference item: Conference , Paper )

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Abstract in another language

We hypothesize that IFRS are socioeconomic and cultural artefacts reflecting a specific Anglo-American context: Largely a market-oriented financial reporting environment with regulatory systems underpinned by classical and neo-classical contracting theories. Although accounting is regularly shaped by and embedded in a socioeconomic environment, it is the IASB’s ambition to develop “globally accepted” accounting standards which may be challenged by our hypothesis. Our study offers a two-pronged literature review, illustrating that (1) the IASB has developed a primarily market-oriented financial reporting system based on the belief in the efficacy of the "invisible hand" and of market as well as trilateral governance structures. Thus, (2) the IFRS adoption in economies dominated by relational transactions such as China may provoke country-specific frictions. To support the different (relational) character of economic activities in China we refer to the role and function of Guanxi as a typical Chinese culture element. Our results may alert regulators to possible underlying causes of some types of mplementation issues when IFRS are transferred to other jurisdictions.

Further data

Item Type: Conference item (Paper)
Refereed: No
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X > Chair Business Administration X - Univ.-Prof. Dr. Rolf Uwe Fülbier
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 08 Jan 2015 12:45
Last Modified: 13 Apr 2015 09:48
URI: https://eref.uni-bayreuth.de/id/eprint/5411

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