Analysis of the first voluntary adopters of IASB accounting standards in Portugal: The cases of Jerónimo Martins and Sonae Sierra - Preliminary findings
Presented by Ms Ana Alexandra Caria Pereira, University of Minho, Braga, Portugal
Wednesday, 14 May 2008, 1.30-2.30pm in Room B014
Abstract
Accounting standards can be adopted by organisations on a voluntary basis. This preliminary study is concerned with the voluntary adoption of IASB accounting standards by two companies, namely Jerónimo Martins and Sonae Sierra, as the first Portuguese companies to adopt these international accounting standards (IAS/IFRS) in preparing consolidated financial statements. Adopting the New Institutional Sociology theoretical perspective, particularly the extended model of Dillard et al. (2004), and the Actor-network theory to inform the investigation, and drawing on written records and on oral evidence as gained in interviews with the companies' CEO and Accounting Directors, the study aims to elucidate the IAS/IFRS adoption process in these two companies, examining the actors, processes, and rationales involved in their adoption. The study found that the early adoption of IASB standards by Jerónimo Martins and Sonae Sierra was influenced by institutional, competitive, and intra-organizational pressures. The study also confirms criticisms of early NIS research for dichotomizing economic and institutional pressures and overlook to agency. The non-mandated adoption of IAS/IFRS appears to be symbolic of the companies' positioning as modern and leading-edge corporations.
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