Towards a theory of accounting regulation: A discussion of the politics of disclosure regulation along the economic cycle
The paper by Bertomeu and Magee (this issue) endogenizes accounting regulation by a majority-seeking regulator and examines how the economic cycle affects mandatory reporting quality. This discussion puts the paper in the broader context of a theory of accounting regulation. Then, it focuses on crucial assumptions, including the exogenous evolution of the economy, the role of market frictions, the modeling of reporting quality, and the regulatory process and regulatory cycles, and provides suggestions for future research.
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Volume (Year): 52 (2011)
Issue (Month): 2 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- S.P. Kothari & Karthik Ramanna & Douglas J. Skinner, 2009. "Implications for GAAP from an Analysis of Positive Research in Accounting," Harvard Business School Working Papers 09-137, Harvard Business School, revised Sep 2010.
- Ramanna, Karthik, 2008. "The implications of unverifiable fair-value accounting: Evidence from the political economy of goodwill accounting," Journal of Accounting and Economics, Elsevier, vol. 45(2-3), pages 253-281, August.
- Benston, George J. & Bromwich, Michael & Litan, Robert E. & Wagenhofer, Alfred, 2006. "Worldwide Financial Reporting: The Development and Future of Accounting Standards," OUP Catalogue, Oxford University Press, number 9780195305838.
- Marco Pagano & Paolo Volpin, 1999.
"The Political Economy of Corporate Governance,"
CSEF Working Papers
29, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Jul 2005.
- Peter Wysocki, 2011. "New institutional accounting and IFRS," Accounting and Business Research, Taylor & Francis Journals, vol. 41(3), pages 309-328, August.
- Lucian A. Bebchuk & Zvika Neeman, 2010.
"Investor Protection and Interest Group Politics,"
Review of Financial Studies,
Society for Financial Studies, vol. 23(3), pages 1089-1119, March.
- Sutton, Timothy G., 1984. "Lobbying of accounting standard-setting bodies in the U.K. and the U.S.A.: A Downsian analysis," Accounting, Organizations and Society, Elsevier, vol. 9(1), pages 81-95, January.
- Kothari, S.P. & Ramanna, Karthik & Skinner, Douglas J., 2010. "Implications for GAAP from an analysis of positive research in accounting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 246-286, December.
- Bertomeu, Jeremy & Magee, Robert P., 2011. "From low-quality reporting to financial crises: Politics of disclosure regulation along the economic cycle," Journal of Accounting and Economics, Elsevier, vol. 52(2), pages 209-227.
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