This study examines the determinants of financial firms' lobbying behaviour in the replacement process of IFRS 4 Insurance Contracts. Based on comment letters to International Accounting Standards Board's (IASB) Exposure Draft 2010/8 we investigate firms' lobbying decisions and their long-term...

Using a large sample of small private companies, we show incremental influence of economic incentives over prescriptions from accounting standards by financial statement preparers in a code-law setting with high alignment between financial and tax reporting and no agency problems. Contrary to...

Private firms are likely to use the financial reporting process more for other objectives, such as tax savings, than for communicating performance. However, observing firms choosing accounting policies for tax-minimisation purposes is not straightforward due to (i) tax and non-tax costs of...

Private firms are likely to use the financial reporting process more for other objectives, such as tax savings, than for communicating performance. However, observing firms choosing accounting policies for tax-minimisation purposes is not straightforward due to (i) tax and non-tax costs of...

This study examines the effect of audit on private firms' cost of debt. We use a sample of 1,949 small private firms operating in the period 2006-2010 with optional financial statement audit. High quality data allows us to construct a more precise interest rate measure than existing studies...

This study examines how private firms’ disclosures create information externalities for public firms’ information environment. Exploiting a setting with varying importance of private firms’ financial information, we document that public firms’ forecasted earnings are less accurate and...

We examine variation in mandatory CSR reporting practices based on a large sample of non-publicly listed savings banks in Germany. They do not have typical shareholders but rather are established by municipal trustees and can serve clients only in their distinct operating area. This setting...