Stakeholder Engagement and Effective Standard Setting
研究了安然事件后FASB程序制度的演变，特别是咨询组等新机构如何增强利益相关者接受度，对准则制定有效性和学术研究有启示。
SYNOPSIS Successful standard-setting outcomes require some level of acceptance by diverse stakeholder groups. This study examines the evolution of FASB due process institutions since Enron, which have the potential to engender stakeholder acceptance. The prior literature on accounting standard-setting outcomes often focuses on the effects of individuals, organizations, or established due process institutions. Our study highlights the critical role played by recent due process institutions such as enhanced advisory groups, transition resource groups, field tests, and post-implementation reviews in contemporary standard-setting activity. Advisory groups, in particular, shift the balance of power within standard-setting to give a stronger voice to specific stakeholders (e.g., investors, not-for-profits, and private companies) and sometimes provide a recruiting network for future FASB members. We highlight the growing importance of these due process institutions for effective standard-setting outcomes, as well as implications for future academic research. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: M41; M48.