Download or read book Regulation of Disclosure and Corporate Governance An Empirical Investigation of Economic Consequences written by Stephanie Müller-Bloch and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The level of regulation of disclosure and corporate governance on the national and supranational level has increased substantially in the last decade. With that in mind, and in the light of the demand for evidence-based financial reporting and disclosure regulation (Buijink, 2006; Gassen and Günther, 2014; Leuz and Wysocki, 2016), this dissertation aims at investigating economic consequences of such regulation. In particular, this dissertation attempts to provide empirical evidence that helps regulators to assess intended and unintended economic consequences of regulating disclosure and cor...
Download or read book The Economics of Disclosure and Financial Reporting Regulation written by Christian Leuz and published by . This book was released on 2016 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the empirical literature on the economic consequences of disclosure and financial reporting regulation (including IFRS adoption), drawing on U.S. and international evidence. Given the policy relevance of research on regulation, we highlight the challenges with: (i) quantifying regulatory costs and benefits, (ii) measuring disclosure and reporting outcomes, and (iii) drawing causal inferences from regulatory studies. Next, we discuss empirical studies that link disclosure and reporting activities to firm-specific and market-wide economic outcomes. Understanding these links is important when evaluating regulation. We then synthesize the empirical evidence on the economic effects of disclosure regulation and reporting standards, including the evidence on IFRS adoption. Several important conclusions emerge. We generally lack evidence on market-wide effects and externalities from regulation, yet such evidence is central to the economic justification of regulation. Moreover, evidence on causal effects of disclosure and reporting regulation is still relatively rare. We also lack evidence on the real effects of such regulation. These limitations provide many research opportunities. We conclude with several specific suggestions for future research.
Download or read book The Regulation of Corporate Disclosure written by James Robert Brown and published by Wolters Kluwer. This book was released on 1999-01-01 with total page 1709 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Regulation of Corporate Disclosure, Third Edition is a complete and up-to-date handbook on the issue of corporate disclosure, covering the impact of the federal securities laws on both informal communications and the process of communicating with shareholders. The Third Edition expands topics previously covered, addressing the legal issues and practical concerns surrounding implementation of the Private Securities Litigation Reform Act of 1995, the Sarbanes-Oxley Act of 2002, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The book also has an in-depth treatment of managementand’s discussion and analysis (MDand&A), something that, although appearing in required SEC filings, involves many of the same difficult and complex issues raised by the informal disclosure process. Also addressed are: SEC reforms of the periodic reporting process; issues pertaining to stock research analysts and conflicts of interest; and various relevant corporate governance requirements and their disclosure implications. Critical areas analyzed include ;Disclosure requirements and anti-fraud provisions The duty to disclose Dissemination Issues involving materiality Disclosure of bad news Negotiations Dealing with analysts And much more!
Download or read book The Evolution of Corporate Disclosure written by Alessandro Ghio and published by Springer Nature. This book was released on 2020-04-02 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the evolution of corporate disclosure. Building upon prior academic literature, it assesses the most important changes in mandatory corporate disclosure, the growing relevance of social and environmental disclosure, and revolutionary new forms of corporate communication, in particular social media. It also includes empirical analyses that shed further light on the impact of voluntary communication, i.e. social and environmental reporting and corporate social media communication, on managerial and investment decisions. Lastly, it discusses new directions for accounting and corporate governance research on the theoretical and empirical challenges of corporate disclosure. Offering a wealth of relevant and timely advice, the book will help regulators design policies that allow businesses to overcome current and emerging economic, social, and technological challenges.
Download or read book Corporate Political Spending Information Disclosure Regime written by Wei Feng (Ph. D) and published by . This book was released on 2016 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis seeks a better understanding of corporate participation in political processes and its role as well as potential in promoting corporate performance and reshaping political environment from the perspective of potential legislative interference – disclosure-based regulation on corporate political spending that requires this topic-specific information. Through theoretical and empirical explorations across disciplines, this thesis aims at forming a systematic anatomy of corporate political spending, bringing together facts and further rationales in an orderly arrangement. These results are intended to provide legislatures with more grounds for regulating corporate political participation. At the same time, the thesis is intended to raise awareness of deficiencies in corporate governance guidelines on political participation and expenditures. Accordingly, these findings shed light on objectives and corresponding instruments of future disclosure-based policy through a focus on corporate political spending and the formulation of guidelines for corporate governance of political participation and disclosure. To achieve these objectives, the thesis begins by illustrating the upsurge of corporate political spending and the regulatory gaps in both public policy and corporate governance level. In addition, questions on the basis of this information concerning corporate political spending are addressed to provide the fundamental background. Based on the initial expository investigation, this thesis further investigates current practices of public policies on corporate public participations and disclosure, as well as existing corporate governance managerial guidelines on political spending and voluntary disclosure. Deepening the examination of rationales for corporate political participation and voluntary disclosure of this information, a theoretical analysis has been conducted to further unveil the mechanism of corporate political behaviour. It is followed by an empirical examination of responses from participants of entity markets to information on the possible passage of mandatory regulation on corporate political spending, as well as information regarding the political connection itself, on individual country cases. The thesis, therefore, contributes substantively to policy debate on the introduction of transparency into corporate political expenditures, a debate which will help shape future policymaking about the interaction between private and public sectors. The outcome of this research will, among other studies, add theoretical and empirical support for rulemaking decisions on corporate political participation.
Download or read book Economic Consequences of Financial Reporting and Disclosure Regulation written by Christian Leuz and published by . This book was released on 2008 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys the theoretical and empirical literature on the economic consequences of financial reporting and disclosure regulation. We integrate theoretical and empirical studies from accounting, economics, finance and law in order to contribute to the cross-fertilization of these fields. We provide an organizing framework that identifies firm-specific (micro-level) and market-wide (macro-level) costs and benefits of firms' reporting and disclosure activities and then use this framework to discuss potential costs and benefits of regulating these activities and to organize the key insights from the literature. Our survey highlights important unanswered questions and concludes with numerous suggestions for future research.
Download or read book The Impact of Accounting Regulation on Corporate Governance written by Andrea Melis and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting for stock options and executive remuneration have been one of the most debated and controversial issues in accounting regulation and corporate governance. The purpose of this study was to analyse the impact of the mandatory adoption of IFRS 2 for accounting of stock options in Italian non financial listed companies. This paper has investigated the economic consequences of recording the cost of stock options at its fair value, in terms of its impact on the companies' reported earnings, the evaluation method choice, and its disclosure in the financial statements as well as its implication on corporate governance. Empirical evidence shows that the introduction of IFRS 2 has increased the personnel costs and reduced the reported earnings. The impact of the mandatory recording of the cost of stock options measured at its fair value was found to be moderate on average. The overall disclosure concerning the beneficiaries of stock options plans, its evaluation and its recording in the financial statements is generally adequate. The mandatory adoption of IFRS 2 seems to have relevant implications for corporate governance as it has reduced the information asymmetry between corporate insiders and outsiders. Firstly, accounting regulation has increased the level of disclosure and has made the quot;truequot; cost of stock options unconcealed for minority shareholders and other investors. Secondly, some evidence of creative accounting was found concerning the elusion of the substance over form principle for the accounting of stock options plans set up before 7th November 2002. Thirdly, the empirical evidence concerning the beneficiaries of the stock options plans suggests that the diffusion of stock options plans in Italian non financial listed companies may be partly explained by the rent-extraction theory, rather than by the optimal contracting theory.
Download or read book The Economics and Politics of Accounting written by Christian Leuz and published by OUP Oxford. This book was released on 2005-09-15 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting and the role of accountants has permeated the modern societies. For the most part we have accepted the impartiality and objectivity of accounting and not recognized how accounting systems are embedded in a country's economic and legal framework, much of which is in turn shaped by political processes. This web of interactions results in complex economic and political questions which require accounting researchers to focus on several related trends: information economics, regulatory economics, sociology, and political science. Although considerable progress has been made in the field of accounting, many fundamental questions are still subject to debate. In this book leading international scholars address a number of important questions: · What is the role of accounting in security valuation, decision making and contracting? · What can we learn from economics-based research in accounting? · What is the role of auditing and how can accounting standards be enforced? · What are the cost and benefits of accounting and disclosure regulation? · What is the role of accounting in society? · How does lobbying affect the political process of standard setting? · What are the consequences of the internationalization of standard setting? This seminal book will be of interest to academics, researchers, and graduate students of Accounting, Finance, Business Studies, Sociology, and Political Economy.
Download or read book International Corporate Governance After Sarbanes Oxley written by Paul Ali and published by Wiley. This book was released on 2006-03-10 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Sabanes-Oxley Act has been one of the most significant developments in corporate and securities regulation since the New Deal. This collection of important articles would be a valuable resource for anyone seeking to understand Sabanes-Oxley's far-reaching effects on corporate governance in the United States and elsewhere." —Jesse Fried, coauthor of Pay Without Performance: The Unfulfilled Promise of Executive Compensation and Professor of Law at the University of California, Berkeley "The editors have assembled the latest cutting-edge research on international corporate governance by respected academics in this field. In this handbook, the editors deal with all aspects of the significant legislative changes to corporate governance regulation. It introduces the reader to the new rules that will certainly improve the reliability and the accuracy of disclosures made by corporations. The book comes at the right moment with the recent scandals such as Enron, which will educate all readers especially shareholders of corporate stock." —Komlan Sedzro, Professor of Finance, University of Quebec at Montreal "Today, corporate governance is a topic at the center of public policy debate in most industrialized countries. The range of concerns; the variety of approaches; and their tendency to converge in some areas or diverge in others (not always in the right directions) are emphatically demonstrated by these essays. There is material here of enormous interest for scholars of comparative law and economic regulation. And significantly, the presentation of essays from legal, financial, and regulatory viewpoints demonstrates the growing practical as well as theoretical utility of interdisciplinary work in this area. Professors Ali and Gregoriou are to be warmly congratulated for their skill and initiative in assembling an important publication, as well as for their own contributions to interdisciplinary scholarship." —R. P. Austin, BA, LLM (Sydney), DPhil (Oxon), Supreme Court of New South Wales "This very international collection emphasizes the economic line of descent, while including legal and socio-legal contributions. It fills a very important gap in our empirical knowledge of corporate governance. It is accessible and comprehensive and will greatly assist readers from all relevant disciplines, who are trying to discern the shape of corporate governance as a mature field." —Dimity Kingsford Smith, Professor of Law, University of New South Wales
Download or read book Information Disclosure and Regulatory Compliance written by Anindya Ghose and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Sarbanes Oxley Act (SOA) introduced significant changes to financial practice and corporate governance regulation, including stringent new rules designed to protect investors by improving the accuracy and reliability of corporate disclosures. Briefly speaking, it requires management to submit a report containing an assessment of the effectiveness of the internal control structure, a description of material weaknesses in such internal controls and of any material noncompliance. Such mandatory regulations can have some broader ramifications on firm profitability, market structure and social welfare, many of which were unintended when policy makers first formulated this Act. Moreover, the tight coupling between compliance activities, information disclosure and IT investments can have implications for IT governance because of its potential to change relationships between technology investments and business. This article aims to provide insights into the trade-offs involved for firms in disclosure of such information, and gives an overview of some research questions that are yet to be addressed.
Download or read book Economic Effects of Transparency in International Equity Markets written by Mark Lang and published by Now Publishers Inc. This book was released on 2011 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph reviews the existing accounting, finance and economics literature on the economic effects of transparency in international equity markets, considers aspects of an international setting that make it an interesting environment for investigating these effects, and suggests directions for future research
Download or read book Enterprise Risk Management in Europe written by Marco Maffei and published by Emerald Group Publishing. This book was released on 2021-05-04 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enterprise Risk Management in Europe advances understanding of ERM in Europe, providing a novel and unique set of perspectives on the ongoing dynamics between ERM and corporate processes. This is an essential guide for researchers, practitioners and policy makers both in and beyond European borders.
Download or read book Handbook of Corporate Finance written by Bjørn Espen Eckbo and published by Elsevier. This book was released on 2007-05-21 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work. *The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance *Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance *The series is international in scope with contributions from field leaders the world over
Download or read book The Routledge Companion to Accounting Reporting and Regulation written by Carien van Mourik and published by Routledge. This book was released on 2013-10-01 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Download or read book ECMLG2012 Proceedings of the 8th European Conference on Management Leadership and Governance written by John Politis and published by Academic Conferences Limited. This book was released on 2012 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published by Academic Conferences and Publishing International Limited Edited by: Professor John Politis, Neapolis University Pafos, Cyprus. CD version of the proceedings of the 8th European Conference on Management Leadership and Governance - ECMLG 2012 hosted by the Neapolis University on the 8-9 November 2012. 567 pages
Download or read book Proceedings of the 2015 International Conference on Sustainable Development written by Liandong Zhu and published by World Scientific. This book was released on 2016 with total page 1156 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since the emergence of climate and global warming onto the international agenda, research in sustainability has been underpinned by the development in energy and environmental science. Highlighted 30 years ago by the Brundtland Commission, "sustainable development" was defined as: meeting the needs of the present without compromising the ability of future generations to meet their own needs. This has very much defined the scope and aims of this conference. This conference proceedings book contains the selected papers presented in the 2015 International Conference on Sustainable Development (ICSD2015) held in September 25-27, 2015, in Wuhan, Hubei, China. The conference positions itself as an international forum for researchers all over the world to come together to share and discuss their findings and contributions in all aspects of sustainability; including theory, methodology and applications covering a wide spectrum of topics and issues. The conference proceedings put together a total of 119 papers in sustainable development, covering issues in environmental, energy, and economical aspects of the subjects."--Provided by publisher
Download or read book IEIS2019 written by Menggang Li and published by Springer Nature. This book was released on 2020-07-02 with total page 743 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a range of recent advances concerning industrial restructuring strategies, industrial organization, industrial policy, departmental economic research, industrial competitiveness, regional industrial structure, national industrial economic security theory and empirical research. Successfully combining theory and practice, the book gathers the outcomes of the “6th International Conference on Industrial Economics System and Industrial Security Engineering”, which was held at the University of Maryland, USA.
