Commitment is a necessary prerequisite for gaining sustainable competitive advantage. By the way of commitment a firm is able to establish mobility barriers for capital bound in specific assets and to protect thereby supernormal profits against competition by entry barriers.(...)

The focus of the paper is on the remuneration of executives of large European banks. We describe the pay-for-performance sensitivity of the compensation and its disclosure as two dimensions of the board remuneration systems in the European countries.

This paper deals with a moral hazard problem resulting from a combined hidden action and hidden information situation.

The provision of non-audit services by auditors to their audit clients reduces total costs, increases technical competence and motivates more intense competition. Furthermore, these services do not necessarily damage auditor independence nor the quality of non-audit services. This assessment...

The evolution of internal auditing in the last period was a very dynamic one, being affected by the increasing attention for its role in corporate governance, especially because of its links with internal control and risk management systems. Internal audi

The issue of international accounting harmonization has achieved, mainly within the last decade, a significant dimension in the field of international accounting research. The main determinant factor for this state of the art is the process aiming at redu

Our paper aims at telling the whole story where fair value accounting is concerned. Harsh criticism has been brought to this concept under current circumstances that motivated out research. Without arguing for fair value as something it is not, we briefly

The proper development of the activity of a company depends largely upon the way it administrates its relations with commercial partners (suppliers and clients), as they support the activity of exploitment, which is the main activity of the company. The q

This paper approaches a frequently discussed subject in the context of the current global economic crisis, namely the fair value. The accounting concept, which implies that entities – in a different degree from one accounting system to another – should re

Scientific research is the cornerstone of the academic environment. Given this, it is interesting to establish the way in which economic research, especially accounting research, keeps up with the current reality both at the national and international lev