In a lot of countries, not only one but several sets of accounts have to be prepared and disclosed by (holding) companies. This paper inquires into possibly different economic functions of these sets of accounts by looking at the German dual financial reporting system, in which company (single)...

Since 2002, listed German corporations are legally obligated to declare annually their degree of conformity to the German Corporate Governance Code (GCGC). For a sample of (big) publicly traded German companies listed in DAX 30 and MDAX we examine whether there is a pricing effect connected to...

This paper inquires into the recent changes of accounting regulation in Germany. To track these changes systematically, we develop a general framework for comparing accounting regimes. Within this framework, we find privatization tendencies in accounting governance which go along with...

The European emission trading scheme regulates the pollution of carbon dioxide for more than 11,000 facilities. Nevertheless quickly doubts arose about the efficiency of allocation methods and of the trade in emission allowances. Hence this paper tests for the hypothesis of economic...

This study provides comparative tests for the decision usefulness of four accounting alternatives for emission rights. In current accounting practice, cost-based net approaches as well as cost- and market-based gross approaches coexist. Modelling the available accounting treatments as reporting...

In many countries, not only one but several sets of accounts have to be prepared and disclosed by (holding) companies. This paper investigates the possibly different economic functions of these sets of accounts by looking at the German dual financial reporting system, in which company (single)...