This essay analyzes some problems accounting standard setters confront in erecting barriers to managers bent on boosting their firms' financial reports through financial engineering (FE) activities. It also poses some unsolved research questions regarding interactions between preparers and...

Purpose - The purpose of this paper is to examine the usefulness of statistical studies of financial reports and stock market data for improving corporate financial reports. Design/methodology/approach - Analytical writing. Findings - It is often claimed that statistical studies of co-variation...

This paper articulates the arguments for and against introducing competition into the accounting standard-setting process in the U.S. by allowing individual corporations to issue financial reports prepared in accordance with either FASB or IASB rules. The paper examines several arguments...

This paper studies the role of transfers among groups within a country as well as among countries in a two level game of international trade negotiations. We show that in order to realize the intended transfer in the presence of asymmetric information on the states of recipients (and donors), a...

Yuji Ijiri was a polymath and pioneer who gave us better understanding and methods of accounting and management. His theories of measurement, aggregation, and double- and triple-entry bookkeeping built an enduring foundation for the discipline and practice of accounting

The benefits of top down financial reporting regulation over the past eight decades are less obvious than its failures to achieve the purported goals. Perhaps it is time to give a chance to an alternative approach of regulatory competition

Closed exchange and production-and-exchange economies may have multiple equilibria, a fact that is usually ignored in macroeconomic models. Our basic argument is that default and bankruptcy laws are required to prevent strategic default, and these laws can also serve to provide the conditions...