Research output: Working paper
Research output: Working paper
}
TY - UNPB
T1 - Competition among accounting standard setters: a property rights analysis
AU - Klumpes, P J M
PY - 1998
Y1 - 1998
N2 - This paper develops a property rights analysis of competion among accounting standard setters. The takings decision is costly as it imposes some form of compensation to be paid to a national accounting standard setter whose property rights to issue accounting standards are taken away and conferred instead on a competing standard setting body, the IASC. Applying a scenario developed by Giammarino and Nosal (1994), a political-game play model is presented which assumes four participants: (a) IOSCO; (b) a national-based regulatory authority; and (c) a national-based accounting standard setting body and the IASC who compete for the right to set international-GAAP. The optimal linear compensation rule for the takings decision is found to depend upon with which interest group the regulatory authority s preferences coincide.
AB - This paper develops a property rights analysis of competion among accounting standard setters. The takings decision is costly as it imposes some form of compensation to be paid to a national accounting standard setter whose property rights to issue accounting standards are taken away and conferred instead on a competing standard setting body, the IASC. Applying a scenario developed by Giammarino and Nosal (1994), a political-game play model is presented which assumes four participants: (a) IOSCO; (b) a national-based regulatory authority; and (c) a national-based accounting standard setting body and the IASC who compete for the right to set international-GAAP. The optimal linear compensation rule for the takings decision is found to depend upon with which interest group the regulatory authority s preferences coincide.
KW - property rights
KW - accounting standards
KW - compensation.
M3 - Working paper
T3 - Accounting and Finance Working Paper Series
BT - Competition among accounting standard setters: a property rights analysis
PB - The Department of Accounting and Finance
CY - Lancaster University
ER -