Efforts to develop generalizable theoretical assumptions and hypotheses may be

Efforts to develop generalizable theoretical

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Efforts to develop generalizable theoretical assumptions and hypotheses may be too early at this stage. Instead, the review suggests that the application of holistic and more sophisticated constructs to a larger body of case studies are more appropriate. Findings from in-depth case studies will contribute by providing insights into this under- researched area of accounting research and to the development of a larger body of literature from which more generalisable information can be derived. The review of the constructs found that many of the theories and models focus on some aspects (actors, problems, non-decision making) while neglecting others. As a result, they offer a limited basis for analysing and explaining agenda setting processes.
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51 The review also showed that many constructs did not specify epistemological or underlying theoretical assumptions. In particular, the three approaches to agenda setting and the accounting cycle framework were found to be heuristic and oversimplified and did not allow for an analysis of the complexities of agenda setting processes. The concepts of regulatory space and three dimensions of power offer better theoretical analytical potential. Despite this potential, both concepts were rejected for the following reasons. The strength of regulatory space lies in agenda setting investigations where competing regulatory bodies are the focus of the investigation. While on initial consideration, regulatory issues might have been important factors of the GAAP/GFS harmonisation agenda setting case, the research question is on the agenda setting process of only the FRC. The Lukes’ three dimension of power approach was rejected because it is most suited to investigate non-action due to hidden power relationships. GAAP/GFS harmonisation was, however, acted upon. A summary and overview of the findings with respect to the models, theories and frameworks reviewed in this chapter is provided in Appendix 1. The review of the case studies highlighted the deficiencies of the constructs they had applied. A number of studies reported on elements that were not included in the construct they were using. As a result, the studies did not offer a coherent theoretical analysis of the agenda setting processes and the complexities that are associated with the interrelations of the elements remained largely uncaptured. This highlighted the need for a more complete construct to investigate agenda setting processes. The review also found that on top of the limitation of the constructs, their application sometimes occurred in a superficial and descriptive manner. As a result, the studies did not fully exploit the full explanatory or analytical potential of the constructs. An exception to
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52 this general criticism is Young’s (1994) case study about FASB’s agenda setting process, in which she offered an in-depth application of regulatory space by adding the institutional theory concept of ‘logic of appropriateness’.
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  • Fall '13
  • Government, The Land, International Financial Reporting Standards, Financial Accounting Standards Board, Australian Accounting Standards Board, Snow

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