This paper demonstrates that (time- and context-specific) ‘political costs' were instrumental in the entry of deferred tax accounting into Australian GAAP in the early 1970's—a period in which high profits and low corporate taxes coincided in a volatile political mix. Politically...

We investigate the valueâ€relevance of capitalised R&D on the balance sheet, and the extent to which R&D accruals improve the association between accountingâ€based measures of firm perfor Mance and capital market returns for Australian listed companies. This is a regulatory setting where...

This article addresses four major concerns about the pay of U.S. CEOs: (1) failure to pay for performance; (2) excessive levels of pay; (3) failure to index options and other equity-based pay, resulting in windfalls; and (4) too much unwinding of incentives. The authors' main message is that most...