제도이론을 이용한 한국회계기준 변화 분석

This study attempts to examine the process of change in accounting standard based on the institutional theory by regarding accounting standard as a social institution. We assume that accounting standard is an institution which is established by mutual consent with environmental factors and it needs to be revised in response with the change of the factors in the social and institutional contexts. Thus, we consider that the change of accounting institution is an evolutionary process that adapts itself to its new circumstance. We investigate how an accounting institution has evolved and which social and environmental factors have involved in it with the case of Korean accounting standard revision. Korea has conducted a series of institutional innovations in the field of accounting since the financial crisis in 1997. Korea changed its own accounting standards completely by following the IMF's requirements that the standards should be strengthened to meet the international practices. Recently, Korea Accounting Institute announced a roadmap for the complete convergence Korean accounting standards to IFRS(K-IFRS) in 2007. According to the roadmap, K-IFRS will be adopted by all of the listed Korean companies, starting in 2011. The present paper reveals that the series of the change in the Korean accounting standard is an isomorphic process to the internationally acceptable accounting standards so as to obtain the legitimacy from the international capital market. This study also clarifies that the change has been stimulated by its discredit from the market and the change in the market itself. This study will be helpful to understand recent accounting phenomenon in a society more broadly and complementarily, in addition to the conventional studies which has already provided the efficient and informative perspectives.