Meyer
Fakultäten » Wirtschaftswissenschaftliche Fakultät » Betriebswirtschaftslehre, Institut für » Prof. Dr. Conrad Meyer » Meyer
Completed research project
| Title / Titel | Shareholder Value Accounting - the value relevance of financial statement data and the determinants of accounting method choices | ||
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| Abstract (PDF, 14 KB) | |||
| Summary / Zusammenfassung | Accounting plays a major role within the concept of generating and communicating wealth. Audited financial statements still remain the most important source of externally feasible information on companies. Despite their widespread use and continuing advance, there is some concern that accounting theory and practice have not kept pace with rapid economic changes. From this point of view, adapting the principles of shareholder value management to financial and managerial accounting becomes a primary focus of interest. This project addresses the use of accounting numbers and methods in two different areas: (1) for communication purposes with shareholders, (2) for sustaining routine and strategic business decisions. Questions as to whether or not usefully adapted accounting standards can create value, how to communicate a firm’s performance to investors and how to monitor managerial behavior are raised as well as the problems involved in reflecting future outcomes in current accounting data. Other issues include the urge for cultural change within the organization, increased complexity in transmitting finance-based performance measures throughout the company as well as difficulties in implementing them at the business unit level or their integration into executive compensation schemes. |
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| Publications / Publikationen | Hail, L. (1999): Creative Accounting, Finanzpublizität und die Informationsversorgung der Kapitalmärkte, in: Die Unternehmung, 53. Jg., Nr. 1.Hail. L. (2002): The impact of voluntary corporate disclosures on the ex ante cost of capital for Swiss firms. European Accounting Review 11 (4).Hail, L. (2003): The relationship between voluntary annual report disclosures and firm characteristics in Switzerland. in: Die Unternehmung, 57. Jg., Nr. 4. Hail, L. (2003): A closer look at security price responses to earnings innovations from a Swiss perspective. Working paper, University of Zurich. Hail, L., and C. Leuz (2003): International differences in cost of equity capital: Do legal institutions and securities regulation matter? Working paper, University of Pennsylvania and University of Zurich. Burgstahler, D.; L. Hail; and C. Leuz (2004): The importance of reporting incentives: Earnings management in European private and public firms. Working paper, University of Washington, University of Zurich and University of Pennsylvania. |
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| Keywords / Suchbegriffe | cost of capital, international accounting, properties of earnings, earnings management, financial reporting, earnings response coefficients | ||
| Project leadership and contacts / Projektleitung und Kontakte |
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| Funding source(s) / Unterstützt durch |
Universität Zürich (position pursuing an academic career), Other Public Sources (e.g. Federal or Cantonal Agencies) |
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| Duration of Project / Projektdauer | Jun 1998 to Dec 2004 |