Set-level Convergence occurs when companies in a country adopt an entire existing set of country-neutral standards that have been (or will be) adopted by companies in other countries. In contrast, standard-level Convergence occurs when standard-setters change individual standards within each of their respective sets of standards in order to make the individual standards more similar to each other.
Furthermore, standard-level Convergence comes in two variations. In the first variation, a standard-setter replaces one of its existing standards with a different standard from another set of standards, whereas in the second variation, each standard-setter replaces an existing standard with one that is different from any of their existing standards.
