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on Accounting and Auditing |
| By: | Christian Keuschnigg |
| Abstract: | Der Beitrag betrachtet Accounting als Instrument der Unternehmenskontrolle, welches Informationsasymmetrien zwischen Unternehmern und kontrollierenden Eigentümern auf der einen Seite und externen Anspruchsgruppen wie passive Anteilseigner und Fremdkapitalgeber auf der anderen Seite abbaut. Bessere Information engt den Spielraum des Unternehmers für Fehlverhalten und Übervorteilung externer Kapitalgeber und anderer Anspruchsgruppen ein. Dies fördert die Bereitschaft, neues Kapital und andere Inputs für das Unternehmen bereitzustellen. Anhand der Ergebnisse der empirischen Unternehmens- und Wachstumsforschung wird diskutiert, wie besseres Accounting die Finanzierungsbeschränkung von Unternehmen auflockert und in der Rechtsformwahl Kapitalgesellschaften gegenüber Personenunternehmen begünstigt. In der Wachstumsforschung zeigt sich, dass Länder mit besseren Accounting-Standards ein signifikant höheres Wachstum aufweisen. Damit werden gute Accounting-Standards zu einem wachstumsfördernden Aspekt der institutionellen Qualität eines Landes |
| Keywords: | Accounting, Unternehmenskontrolle, Finanzierungsbeschränkungen, Rechtsformwahl, Wachstum |
| JEL: | G34 K22 M41 M42 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:usg:dp2010:2010-03&r=acc |
| By: | John Graham; Jana Raedy; Douglas Shackelford |
| Abstract: | This paper comprehensively reviews Accounting for Income Taxes (AFIT). The first half provides background and a primer on AFIT. The second half reviews existing studies in detail and offers suggestions for future research. We emphasize the research questions that have been addressed (most of which relate to whether the tax accounts are used to manage earnings, and whether the tax accounts are priced by equity market participants) and highlight areas that have not received much research attention. We close with a call for a theoretical framework, more study of the inconsistencies between research and practice, and improved econometrics. |
| JEL: | H25 M41 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:15665&r=acc |
| By: | Y. Biondi; P. Giannoccolo; A. Reberioux |
| Abstract: | In listed companies, the Board of directors has ultimate responsibility for information disclosure. The conventional wisdom is that director independence is an essential factor in improving the quality of that disclosure. In a sense, this approach subordinates expertise to independence. We argue that effective certification may require firm-specific expertise, in particular for intangible-intensive business models. However, this latter form of expertise is negatively related to independence as it is commonly measured and evaluated. Accordingly, there exists an optimal share of independent directors for each company, related to the level of intangible resources. |
| JEL: | G30 M21 D80 M41 |
| Date: | 2010–01 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:689&r=acc |
| By: | Shigenori Shiratsuka |
| Abstract: | This paper re-examines Japan's experience of the quantitative easing policy in light of the policy responses against the current financial and economic crisis. Central banks use various unconventional measures in the range of financial assets being purchased and in the scale of such purchases. As the scope of such unconventional measures expands, it is often emphasized that the U.S. Federal Reserve policy reactions focus more on the asset side of its balance sheet, the so-called credit easing. By contrast, the Bank of Japan's quantitative easing policy from 2001 to 2006 set a target for the current account balances, the liability side of its balance sheet. It is crucial to understand that central banks combine the two elements of their balance sheets, size and composition, to enhance the overall effects of unconventional policy measures, given constraints on policy implementation. |
| Keywords: | Financial markets ; Monetary policy ; Banks and banking, Central ; Financial crises |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddgw:42&r=acc |
| By: | Dean Baker |
| Abstract: | Although the national debate on financial transactions taxes has just begun, there have been a wide range of responses arguing that the tax is either undesirable or unenforceable, or both. This paper presents a brief response to these criticisms. |
| Keywords: | taxes, speculation, transactions |
| JEL: | G G1 G18 G2 G24 G28 G3 G38 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:epo:papers:2010-01&r=acc |
| By: | Barnett, William A. |
| Abstract: | An independent institute for monetary statistics is needed in the United States. Expanded Congressional audit would be a second best alternative, but would not fully address the needs and would carry risks. |
| Keywords: | Federal Reserve; data institute; audit; GAO; monetary aggregation; index number theory |
| JEL: | C82 E01 E50 E41 |
| Date: | 2010–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20261&r=acc |
| By: | Xiaobing Wang; Jenifer Piesse |
| Abstract: | Using three comparable national representative household surveys for China in 1988, 1995 and 2002, this paper provides micro level evidence of a policy of absolute regressive taxation and an inverted welfare system. It reviews the economic effects of taxes and subsides and shows that a dual and regressive taxation system increases the urban rural income gap and enhances overall inequality. The empirical evidence indicates that the relatively poorer rural population pay net tax while those in the richer urban areas receive net subsidies. This biased system of taxes and welfare payments is one of the major causes of the persisting urban-rural income gap and is largely responsible for overall income inequality in China. |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:bwp:bwppap:10809&r=acc |