International Perspectives on Accounting and Corporate Behavior [Paperback]

Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting systems are deeply intertwined with each countrys unique institutions such as its corporate system, disclosure practices and enforcement mechanisms. First, this book empirically analyzes the effects of globalization and localization of accounting rules on corporate behavior such as earnings management, signaling, investment behavior and dividend payout policy. Second, the book unravels the economic consequences of disclosure based on the concept of self-disciplining enforcement such as management forecasts, environmental disclosures and risk disclosures by Japanese firms. This volume is a step forward in understanding the link between accounting and corporate behavior based on a new institutional accounting approach.

The first volume of empirical research into the new International Financial Reporting Standards to emerge from Japan, this book compares global and local accounting standards and assesses the effect on capital markets of Japanese firms disclosure practices.

1 Overview (Kunio Ito). Part 1 Earnings Attributes and Corporate Behavior.- 2 What do Smoothed Earnings Tell Us about the Future? (Yusuke Takasu and Makoto Nakano).- 3 The Effect of Accounting Conservatism on Corporate Investment Behavior (Souhei Ishida and Kunio Ito).- 4 Matching expenses with revenues around the world (Tetsuyuki Kagaya ).- 5 Does Comprehensive Income Influence Dividends? Empirical Evidence from Japan (Kunio Ito and Takuma Kochiyama).- 6 Accounting Policy Choice for Negative Goodwill (Yukari Takahashi).- 7 Fair Value Accounting of Pension Liabilities and Discretionary Behavior (Shigeaki Sawada).- 8 The Influence of Informal Institutions on Impaired Asset Write-offs: Securing Future and Current Pies for Payouts in Japan (Keishi Fujiyama).- 9 Ex-post information value of risk disclosure (Kunio Ito, Tetsuyuki Kagaya, and Hyol9