CORPORATE FINANCIAL FRAUD FROM THE PERSPECTIVE OF INSTITUTIONAL THEORY: A SYSTEMATIC REVIEW
CORPORATE FINANCIAL FRAUD FROM THE PERSPECTIVE OF INSTITUTIONAL THEORY: A SYSTEMATIC REVIEW
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DOI: https://doi.org/10.22533/at.ed.216532520029
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Palavras-chave: teoría institucional - pilares institucionales - legitimidad - fraude financiero - gobierno corporativo. Códigos JEL: K42-M14
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Keywords: institutional theory - institutional pillars - legitimacy - financial fraud - corporate governance JEL Codes: K42-M14
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Abstract: Purpose: Institutional Theory has been a useful theoretical lens for understanding the effects of the institutional environment as well as the motivation and behavior of companies regarding financial fraud. However, literature on this subject matter is still unclear, therefore the purpose of the systematic review was to answer the following question: What are the elements from Institutional Theory that could explain the behavior of organizations towards corporate financial fraud? Design/methodology/study approach: The study analyzed 11 scientific articles obtained from the database Web of Science (WoS) that met the following inclusion criteria: articles written in English, published between the years 2010 and 2023, that examined corporate financial fraud from the perspective of institutional theory, specifically employing Scott's Institutional Pillars Framework. Monographs, reports and academic papers that demonstrated lack of scientific rigor or information regarding the employed methodology were excluded. The search concluded on July 31st 2023. Findings: The institutional elements most commonly used by researchers as a theoretical basis for explaining the behavior of organizations regarding corporate fraud are: foundations of legitimacy, isomorphic mechanisms, logic, foundations of compliance and indicators, being legitimacy the most utilized element whose predominant application in emerging economies stands out. Originality/Value: The research provides a solid cognitive foundation from which effective solutions can be designed and implemented, aimed at strengthening corporate governance and preventing unethical financial practices in the business context.
- Alberto Clavería Navarrete
- Amalia Carrasco Gallego,