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Special thanks from the VARS team

On behalf of the team, I would like to take this occasion to thank each and all of you, who have been attending our VARS series. It is exciting to have such an interested and engaged audience, and we sincerely hope that you are enjoying the VARS as much as we are. Another big thank you goes to our first four speakers - Stephan Hollander, Carlos Larrinaga, Claudia Imperatore and Victor van Pelt - who…
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VARS with Victor van Pelt

We are pleased that our fourth VARS hosted an experimental paper by Victor van Pelt (WHU), co-authored with Bart Dierynck (Tilburg University), Martin Jacob (WHU), Maximilian Mueller (ESMT Berlin) and Christian Peters (Tilburg University). Motivated by recent developments in policies mandating the disclosure of corporate taxed, the paper investigates how these policies affect retail investors' perceptions on whether firms are paying their “fair share” of taxes. Framed in attribute substitution theory, the paper posits that…
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Would political uncertainty shape accounting policies?

In our article recently published in the European Accounting Review, Phong Ngo and I investigate whether and how the uncertainty arising from the political process can influence corporate accounting policies. We focus on the impact of the U.S. gubernatorial elections on managers’ conservative accounting decisions. The extant literature has documented that accounting conservatism, which makes bad news reflected in earnings more timely than good news, can facilitate the contracting process and mitigate agency costs due…
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The Comprehensive Tax Gain from Leverage

In a recent study, published in the European Accounting Review (EAR), Zhenhua Chen, Padmakumar Sivadasan, and I take a new look at the capital structure implications of taxes. Financial economists have long wondered why many companies fail to take full advantage of the corporate tax benefits from debt. Financial distress and other costs should offset the tax benefits to some degree, but the corporate tax benefits of debt are substantial. This has led many to…
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Mandatory Audit Firm Rotation in the FTSE 350

This analysis was originally posted by Audit Analytics. Thirty-four FTSE 350 companies are required to rotate audit firms or conduct a tender process by 2023, according to EU Regulation 537/2014. The intention of mandatory audit firm rotation is to improve audit quality by limiting risks of repeated inaccuracies, encouraging fresh thinking, and strengthening skepticism. EU member states do have the authority to modify these rules to some extent. For example, UK regulation requires that audit firms rotate every…
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VARS Calendar for June

it is with great pleasure that we announce the following VARS speakers for June 2020   June 5 Chris Chapman  (University of Bristol) Control as Seduction: Gamification at Foursquare June 12 Christine Cooper (University of Edinburgh) Agencification – replacing liberal democracy with neoliberal accountability June 19 Thomas Bourveau  (Columbia University)  Public Company Audits around the Securities Exchange Act June 26 Kirstin Becker (Copenhagen Business School) Constructing Accounting as a Public Policy Issue: The Framing of Fair…
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Evidence-informed accounting standard setting – lessons from corona

This blog post originally appeared on the website of the German accounting research community TRR 266 Accounting for Transparency funded by the German Science Foundation (Deutsche Forschungsgemeinschaft - DFG). Lots of new accounting research findings are published every year in countless academic journals, on pre-print servers, and as working papers on SSRN. Many of these studies are potentially policy-relevant, i.e., speaking to issues on accounting standard setters’ agendas. However, even field experts find it difficult to just…
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VARS with Claudia Imperatore

It was a great pleasure to host Claudia Imperatore for our third VARS. Claudia presented a paper entitled “The effect of private political information on macroeconomic forecast accuracy” – which is available on our repository, co-authored with Andrea Bafundi. The aim of the paper is to investigate whether access to private political information improves macroeconomic forecast accuracy. “Political information” is referring to information about future economic policies that forecasting houses can obtain through access to…
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Claimed research findings: Can we identify the cases when they are likely to be false?

On June 5th 2020 at 14.00 CEST (20.00 Hong Kong, 08.00 Eastern time), Professor James Ohlson will deliver an online seminar on this theme. The seminar is part of the accounting seminar series at Cass Business School, City, University of London. arranged by Dr Pawel Bilinski. It will last for 40 minutes, with 20 minutes Q&A. The details of how to join are set out at the bottom of this blog (participation is via Zoom…
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VARS with Carlos Larrinaga

And with today, we can say that the VARS is definitely a success. With more than 200 registrations, today’s seminar was a fascinating story about “Early modern accounting and the emergence of the administrative state”. Carlos Larrinaga took us back to the 16th century, in Castilia, during a time in which the Spanish empire was reaching unprecedented extension. Using a governmentality perspective, Carlos’s presentation illustrated the programs of centralization of the Castilian monarchy. He explained the…