ABSTRACT We examine the evolution of accounting regulation by linking disclosure policies and investments in a dynamic voting model. The are outcome entrepreneurs, whose preferences influenced their investments. turn endogenously determined current future policies. Absent external influences, regimes stable. A regime high (low) quality strong (weak) economy coexist reinforce each other. However...

The Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard provides a step-bystep guide for companies and government agencies to use in quantifying and reporting their GHG emissions. This set of standards was developed by the Greenhouse Gas Protocol Initiative, a partnership convened by the World Resources Institute (WRI) and the World Business Council for Sustainable Develop...

When international accounting standards were renamed to become international financial reporting standards, this seemed to imply that accounting no longer needed to exist, but rather had to be reconsidered as a part of financial communication and advertising. Does traditional accountability no longer matter? Betrayed investors and globalized stakeholders would dissent. A difference of nature co...

There is an ongoing debate in law and accounting about the relative merits of principle-based versus rule-based regulatory systems. In this paper we characterize what kind of reasoning underlies the two styles of regulation. We adapt an original account of Verheij et al (1998) to take aspects of the implementation context into account, such as the process of adoption of a new norm and the roles...