Financialisation and the Conceptual Framework

Zhang, Ying; Andrew, Jane

doi:10.1016/j.cpa.2012.11.012

Cited by 136 publications

(158 citation statements)

References 83 publications

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“…The choice of theoretical framing is in keeping with the prior research which points to the socially constructed nature of codes corporate governance and developments in their application (Tremblay and Gendron, 2011;Mennicken and Miller, 2012). It is also consistent with the relevance of discourse, isomorphism and resistance for explaining why global financial reporting standards have emerged (Rodrigues and Craig, 2007) and contextualising the ongoing debate on the measurement of elements of the financial statements at fair value or cost (Durocher and Gendron, 2014;Zhang and Andrew, 2014). Perhaps most important are the express concerns of regulators and the IASB that consolidation accounting requirements have been misapplied by preparers of financial statements to the detriment of transparency in financial reporting (IASB, 2011a) 2 .…”

Section: A N U S C R I P Tmentioning

confidence: 90%

“…Most obvious is the proliferation of fair value accounting. While there has been a considerable amount of research examining the development of a fair value measurement basis (Durocher and Gendron, 2014;Zhang and Andrew, 2014) few have considered how resistance to fair value or cost accounting manifests itself in the ways in which preparers of financial statements are applying the relevant IFRS's. In the same way, it would useful to consider the sources of isomorphic pressure which encourage the proliferation of fair value accounting and how fair value discourse becomes a source of legitimacy.…”

Section: : Conclusionmentioning

confidence: 99%

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Isomorphism and resistance in implementing IFRS 10 and IFRS 12

Maroun

Zijl

2016

The British Accounting Review

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Section: A N U S C R I P Tmentioning

confidence: 90%

Section: : Conclusionmentioning

confidence: 99%

Isomorphism and resistance in implementing IFRS 10 and IFRS 12

Maroun

Zijl

2016

The British Accounting Review

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“…Despite the prevalence of neo-liberal paradigms at the heart of contemporary financial reporting, accountability and stewardship remain relevant considerations for users of financial statements, including current investors and creditors (Whittington, 2008;Murphy, O'Connell & Ó hÓgartaigh, 2013;Zhang & Andrew, 2013). In theory, high-quality financial reporting provides information which is useful to the users of financial statements in making assessments about the amount, timing and certainty of the reporting entity's future cash flows (IASB, 2010).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Value relevance and corporate responsibility reporting in the South African context : an alternate view post king-III

Marcia

Maroun

Callaghan

2015

S. Afr. j. econ. manag. sci. (Online)

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This study tests for the value relevance of corporate responsibility reporting (CRR) based on a sample of companies listed on the Johannesburg Stock Exchange (JSE). It also provides evidence of the statistical significance of the potential contribution of CRR to share price values in the South African context at a particular point. On the basis of a sample of 82 companies on the JSE, hierarchical regression analysis was used to test the contribution of levels of corporate social responsibility disclosures to company share prices, over and above the contribution of the size of a firm's equity and net income.In contrast with other findings which predict a positive relationship between company share price and levels of corporate social responsibility disclosures, the latter are found to have no significant association with company share price over and above the associations of the size of a firm's equity and net income. Bivariate associations, however, indicate a significant association between share price and levels of corporate social responsibility disclosures. On the basis of these findings, it is argued that disclosures increase for firms with larger endowments of equity, yet corporate social responsibility disclosures do not necessarily add value to company share price.

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“…Over the last 40 years, observers maintain that a normative shift developed with fair value reasserting its place among measurement models and acquiring a certain prominence in policy and practice (Power 2010). Extant literature supporting the emergence of fair value links its appearance to inflationary issues of the 1970s (Robson 1994) and later to processes of the financialization of accounting (Hopwood 2009;Power 2010;Arnold 2012;Zhang and Andrew 2014). The Global Financial Crisis of 2007-2008 has scholars revisiting the question of accounting valuation techniques with actors at multiple levels across the global stage debating (again) the merits and shortcomings of fair value (Andr e et al 2009, Laux andLeuz 2009;Magnan 2009).…”

Section: Introductionmentioning

confidence: 99%

On Commitment Toward Knowledge Templates in Global Standard Setting: The Case of the FASB‐IASB Revenue Project

Baudot

2018

Contemporary Accting Res

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This article explores commitment to knowledge templates, in this case competing measurement models, in global standard‐setting processes. In particular, I examine the positions of board members of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on a proposal to use fair value accounting in the measurement of revenue. The proposal to measure revenue at fair value was deliberated between 2002 and 2008 as part of the joint revenue project of the FASB and the IASB. I analyze narratives of the board proceedings on the revenue project, which reveal the positions of board members over the life of the proposal. To make sense of these positions, I use Durocher and Gendron's (2014) framework on epistemic commitment, which speaks to one's allegiance to knowledge templates. The analysis shows that individual board member commitment to different knowledge templates is fairly static despite dynamic and contentious debate on this particular proposal. While stable, board member reactions to the proposed shift toward fair value fall into recognizable patterns showing how commitment to different templates entails prioritizing of different core principles and appeals to higher authorities. Finally, the analysis shows how commitment to knowledge templates varies depending on the professional affiliations of board members. For instance, the analysis shows relatively greater consistency of commitment between board members affiliated with academia and corporate preparers than between auditors. Overall, the study indicates the importance of micro‐level features in explaining the development of macro‐level accounting policy. These features are crucial to enhancing our broader understanding of the way in which accounting standards and rules ultimately develop.

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Financialisation and the Conceptual Framework

Cited by 136 publications

References 83 publications

Isomorphism and resistance in implementing IFRS 10 and IFRS 12

Isomorphism and resistance in implementing IFRS 10 and IFRS 12

Value relevance and corporate responsibility reporting in the South African context : an alternate view post king-III

On Commitment Toward Knowledge Templates in Global Standard Setting: The Case of the FASB‐IASB Revenue Project

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