Explaining the choice of accounting standards in municipal corporations: Positive accounting theory and institutional theory as competitive or concurrent theories |
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| Authors: | Sven-Olof Yrjö Collin Torbjörn Tagesson Anette Andersson Joosefin Cato Karin Hansson |
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| Institution: | 1. School of Business and Engineering, Halmstad University, SE-301 18 Halmstad, Sweden;2. Department of Business Studies, Kristianstad University College, SE-291 88 Kristianstad, Sweden;1. School of Public Finance, Central University of Finance and Economics, China;2. School of Accounting, Central University of Finance and Economics, China;1. Essex Business School, University of Essex, UK;2. Business School, Nord University, Norway;1. Department of Business Taxation, Heinrich Heine University Düsseldorf, Universitätsstraße 1, 40225 Düsseldorf, Germany;2. Department of Financial Accounting and Auditing (Treuhandseminar), University of Cologne, Albertus-Magnus-Platz, 50923 Cologne, Germany;1. Samuel Curtis Johnson Graduate School of Management, Cornell University, Ithaca, NY 14853, United States;2. Robert H. Smith School of Business, University of Maryland, College Park, MD 20742, United States |
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| Abstract: | Municipal corporations exist in an institutional twilight area, being both private and public, a characteristic, which presumably would be reflected in their choice of accounting standards. The literature of accounting choice does not, however, live in a twilight area, but is fragmented into two main divisions: positive accounting theory (PAT) and institutional theory (IT); only in a very few cases do the theories meet or cross-fertilize. We use both theories in this paper and derive hypotheses from them to explain accounting choices made by municipal corporations. Through testing the hypotheses on a sample of 545 Swedish municipal corporations, we indicate the empirical relevance of both PAT and IT. We conclude by suggesting an integrative approach of PAT and IT in an eclectic alternative. |
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