while this collective intergenerati

while this collective intergenerational transmission forms an endogenous process of path dependency in societies as envisaged by north(1989, 1994) it is also subject to exogenous influences through the slow adaptation to additional exogenous structures such as transplanted legal regimes and political governance structures (Hofstede, 1991; Williamson,2000)that gradually become incorporated into the wider accepted societal matrix. In this manner the wider societal matrix of informal and formal institutions effect the firm's informational environment thorough legitimizing the society's optimal level of information disclosure as well as providing support or otherwise for organizational structures and governance mechanisms that improve information acquisition for external stakeholders(Fogarty and Rogers, 2005). As such the role of political structures and state-level institutions is paramount in this process in terms of providing suitable enforcement mechanisms to regulate behaviour and in optimizing governance structures(North, 1994).
However the inaugural work in the accounting literature by Fogarty and Rogers(2005) in outlining an institutional theory on the evaluation of financial analyst reports and accounting information is primarily restricted to a focus on the US market. The cross country comparative literature regarding amount of firm disclosure is largely centred on Beattie and jones(2001) and their six-country study, including Australia, France, Germany, Netherlands, UK and US, of the use of graphs in annual reports which itself draws on earlier distinctions between accounting practices developed by Nobes(1983). Nobes proposed a two-fold hierarchical classification of accounting practices between micro-Anglo Saxon and macro-continental methods. Micro based practices are characterized by relatively weaker governmental influence on accounting,stronger degree of independent accounting professions and comparatively active equity marker. These promote the focus on techniques on net worth and earnings and have an explicit orientation towards benefitting external stakeholders.Macro based practices in contrast have relatively strong governmental influence on accounting, a less independent and developed accounting profession and comparatively inactive equity markets that causes focus more on internal stakeholders than external counterparts. Accounting practices are legalistic and tax-based with tendency to be uniform and inflexible or rigid in application which has led to countries falling within this classification being termed as "code law"By Mueller et al. (1991). Further applications by Salter and Niswander being term (1995) and Salter and Doupnik (1992)find empirical support for nobes two-fold hierarchical classification between micro and macro accounting systems. However Gray(1988) extended the concof

Results (English) 3:

而这个集体的代际传递所形成北社会路径依赖内源性的过程（1989，1994）也受外源影响通过慢适应额外的外部结构如移植的法律制度和政治治理结构（Hofstede，1991；威廉姆森，2000），逐渐成为更广泛接受的社会矩阵。