The Economics and Politics of Accounting: International Perspectives on Research Trends, Policy, and Practice

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: DT What is the role of accounting in security valuation, decision making and contracting? DT What can we learn from economics-based research in accounting? DT What is the role of auditing and how can accounting standards be enforced? DT What are the cost and benefits of accounting and disclosure regulation? DT What is the role of accounting in society? DT How does lobbying affect the political process of standard setting? DT 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. Contributors to this volume - Ray Ball, Sidney Davidson Professor, Graduate School of Business, University of Chicago Wolfgang Ballwieser, Professor at the Institute for Accounting and Auditing, University of Munich Michael Bromwich, Chartered Institute of Management Accountants Professor of Accounting and Financial Management, London School of Economics and Political Science Ralf Ewart, Professor at the Faculty of Economics and Business Administration, Chair of Controlling and Auditing, Goethe University Frankfurt Gunter Gebhardt, Professor of Accounting and Auditing, Goethe University Frankfurt Aaron Heilmann, Research Associate at the Chair of Accounting and Auditing, Goethe University Frankfurt Anthony Hopwood, Professor, Peter Moores Dean, Said Business School, University of Oxford Christian Leuz, Harold Stott Term Assistant Professor of Accounting, The Wharton School of the University of Pennsylvania and the Wharton Financial Institution Center Stuart McLeay, Professor, University of Wales Bangor Doris Merkl, Research Fellow, School for Business and Regional Development, University of Wales Bangor Dieter Ordelheide (1939-2000), Professor, Chair of International Accounting, Goethe University of Frankfurt Dieter Pfaff, Professor at the Institute for Accounting, University of Zurich Michael Power, P.D. Leake Professor of Accounting and Director ESRC Centre for Analysis of Risk and Regulation, London School of Economics and Political Science Karel van Hulle, Head of Unit Accounting and Auditing, European Commission Robert Verrecchia, Elizabeth F. Putzel Professor of Accounting, The Wharton School of the University of Pennsylvania Walter Busse von Colbe, Emeritus, University of Bochum Alfred Wagenhofer, Professor at the Institute of Management Accounting and Control, University of Graz Steven Young, Senior Lecturer, Lancaster University Management School