关 键 词：
accounting regulation, public interest, capture theory, theory of corporatism
会议论文摘要：
Under Mandatory-planning orientation, China’s national accounting system followed that of the Soviet Union, which reflected the central-control value. As China moved from the central-planning system to the market-orientated system, accounting regulation changed sharply. In 1993, a westernized general accounting standard, Chinese Business Accounting Standard No. 1 replaced the previous communistic accounting system. The implementation of this new accounting standard was a dramatic turning point in the country’s accounting regulation. Economists are of the view that there are three theories to explain a change in a country’s regulation: public interest theory, capture theory and the theory of corporatism. This paper examines the reasons behind China’s change in accounting regulation and argues that, of these three economic reasons, only public interest theory sufficiently explains the rationale behind this change.
