The paper analyses the effects of three sets of accounting rules for financial instruments - Old IAS before IAS 39 became effective, Current IAS or US GAAP, and the Full Fair Value (FFV) model proposed by the Joint Working Group (JWG) - on the financial statements of banks. We develop a...

The adoption of IFRS by many countries worldwide fuels the expectation that financial accounting might become more comparable across countries. This expectation is opposed to an alternative view that stresses the importance of incentives in shaping accounting information. We provide early...

We study a sample of Continental European firms for changes in the sensitivity of their CEO turnover to their foreign peers' accounting performance around the mandatory adoption of International Financial Reporting Standards (IFRS). We find a post-adoption increase in the use of Relative...

The mandatory adoption of IFRS by many countries worldwide fuels the expectation that financial accounting information might become more comparable across countries. This expectation is opposed to an alternative view that stresses the importance of incentives in shaping accounting information....

This paper reviews recent advances from the institutional economics and accounting literatures to help build a nascent framework for ‘new institutional accounting' (NIA) research. The framework has five basic elements: (i) institutional structure (formal versus informal); (ii) level of...

A number of recent influential reports have identified off balance sheet financing as an important factor in the build up of systemic risk in the banking and finance sector during the period leading up to the Global Financial Crisis. The Basel Committee on Banking Supervision reacted to these...