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GLOBALIZATION AND THE ACCOUNTING PROFESSION: LESSONS LEARNED FROM INDIA
Ist Teil von
The journal of theoretical accounting research, 2021-10, Vol.17 (1), p.104-140
Ort / Verlag
New Rochelle: The Journal of Theoretical Accounting Research
Erscheinungsjahr
2021
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
This event study explores the power dynamics within the increasingly globalized economy, which often cause local regulatory bodies to overlook their national interests in favor of influential international interests. We particularly examine the events surrounding the entry of multinational accounting firms into India's accounting market amidst major changes for the Indian accounting profession, taking place from 1990 to 2005. Such an event has yet to be analyzed in this context, thus our study contributes to the literature by providing an insight into the effects of globalization on individual nation-states. We employ several globalization theories to explain the overhaul of India's accounting profession during our period of study. Gathering data from key documents and interviews conducted with pertinent authors and members of the Indian accounting profession, we analyze the impact of globalization on the nation's local accounting market. Insights gained from our analysis highlight the vulnerability of weaker nationstates such as India to the networked international interests increasingly dominating our global markets. Additionally, our analysis describes the pervasive influence of large multinational accounting firms within these markets, exerted in order to expand their global market shares.