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(2022) Competing Institutional Logics and Power Dynamics in Islamic Financial Reporting Standardisation Projects

Abras, Ahmad and Jayasinghe, Kelum (2022) '(2022) Competing Institutional Logics and Power Dynamics in Islamic Financial Reporting Standardisation Projects.' Accounting Auditing and Accountability Journal (Articl). ISSN 0951-3574 (In Press)

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Abstract

Purpose: This paper examines the historical evolvement of competing institutional logics (i.e. religion, profession, state, market and community) underpinning Islamic accounting standardisation projects and power relations between internal actors representing these logics. Design/methodology/approach: The paper adopts a case-study approach and analyses two Islamic accounting standardisation projects implemented at the international and national levels. Documentary review and semi-structured interviews are used for data collection. Analysis is informed by the ‘Institutional Logics Perspective’ and Bourdieu’s notion of ‘power as capital in a field’. Findings: Research findings illustrate how some local actors pre-dispose themselves in promoting strict compliance to IFRS, while others endeavour to ensure compliance to ‘Islamic Sharia requirements’ in financial reporting. In this power dynamic, there is an ongoing ‘constructive resistance’ actively exerted by the latter group against the former, preserving the existence of religion-based reporting demands in Islamic accounting standardisation approaches. The paper also highlights chronological ‘dynamic’ accounts that explain the evolvement of institutional logics prevailing in these projects over different historical stages at both national and international levels. Originality/value: This paper’s findings contrast and challenge the existing assumption that the ‘epistemic community’ promoting IFRS agenda always faces ‘passive responses’ from local actors. Moreover, the paper’s offering of a dynamic view to institutional logic mapping extends the previously used ‘static analyses’ of logics prevailing in Islamic accounting standardisation projects.

Item Type: Article
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 11 Apr 2022 14:54
Last Modified: 31 May 2022 11:36
URI: http://repository.essex.ac.uk/id/eprint/32682

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