The winding road to fair value accounting in China: a social movement analysis
本文分析中国两次尝试采用公允价值会计准则的不同结果，发现精英利益、社会基础设施、关键资源和框架行动是改革成功的关键因素，对理解国际会计规则在非西方社会的传播有参考价值。
Purpose The purpose of this paper is to examine China’s stop-start adoption of fair value accounting (FVA) into its national accounting standards. The paper analyzes how FVA standards promoted by transnational organizations were eventually adopted in China despite its conservative accounting traditions. Design/methodology/approach The study uses archival records and an analytic framework adapted from the studies of social movements to identify the institutional factors that differ between China’ first unsuccessful attempt to adopt FVA and its second successful attempt. Findings Shared interests of elite national and international groups, creation of social infrastructure, marshaling of key resources, and specific actions to frame FVA standards are found to be crucial factors supporting FVA reform in China. Practical implications The study helps advance our understanding of dissemination of international accounting regulations in non-Western societies. The findings can help accounting standard setters to avoid costly failures. Originality/value The study provides a structured analysis of the propagation of global accounting regulations. It exposes the factors in the failure and success of FVA adoption in China.