Legitimacy Theory and Stakeholder Theory may both generate similar hypotheses to Positive Accounting Theory.The difference between PAT and the other two theories is that:

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PAT focuses on explaining accounting practices based on economic incentives and assumes that managers act in their own self-interest. Legitimacy Theory and Stakeholder Theory, on the other hand, both consider the broader social context of organizations and the importance of meeting the expectations of stakeholders. PAT does not explicitly take into account the views and interests of stakeholders other than owners and managers, whereas legitimacy theory and stakeholder theory consider a range of stakeholders with different interests.

Legitimacy Theory and Stakeholder Theory May Both Generate Similar Hypotheses