On the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of R&D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while...

Die Öffnung des deutschen Bilanzrechts bewirkt eine zunehmende Anwendungsbreite von internationalen Rechnunungslegungsnormen (wie insbesondere der US-GAAP und der IAS) für deutsche Rechtsanwender;1 die heterogenen Normtypen und die – damit einhergehend – unterschiedlichen ökonomischen...

We investigate the determinants of firms' implicit insurance to employees, using a difference-indifference approach: we rely on differences between family and non-family firms to identify the supply of insurance, and exploit variation in unemployment insurance across and within countries to...

Firms' tax planning decisions, similar to their other operational decisions, are made in a competitive environment. Various stakeholders observe the tax payments and evaluate these against the relevant peer group, which creates interdependencies in the tax planning activities of firms....

This paper examines the inter-relationships between changes the political economy of pensions law and changes in pension accounting regulation in four Anglo-American countries. A four fold property rights framework is developed which identifies the common inequities in the ownership of pension...

This paper identifies, and then examines, whether institutional structures can be used to explain the occurrence of accounts manipulation. Specifically, it investigates whether legal origin, level of corruption, the extent of press freedom, State's ownership of enterprises, and the State's...

The purpose of this paper is to draw attention to some issues that may be militating against the successful adoption of IFRS especially from the perspective of emerging markets or economies. Extensive theoretical and empirical review of literature was undertaken in this regard. Issues identified...

Sell-side analysts have been the subject of hundreds of academic studies. In this paper, I offer perspectives on the state of our understanding of analysts based on prior academic research. Additionally, several observations are offered, which question how descriptive certain widely held beliefs...

The aim of this study is to investigate the impact of enforcement (greater monitoring of auditors and more regulatory scrutiny of financial reporting) on accounting quality under IFRS using measures of earnings smoothing, managing towards earnings targets, timely loss recognition and value...

Today's most pressing constitutional question is posed by a global economic system whose expansive tendencies seem no longer controllable. The current financial/debt crisis has triggered diverse reactions in the political arena ranging from the reformist ordo‐liberal approach followed by...