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 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...