Agency Problems and Accounting Communication

Isao Nakano
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Isao Nakano: Kobe University

Kobe Economic & Business Review, 1988, vol. 33, 1-8

Abstract: In the realm of theory of firm, the so-called "agency theory" has emerged and attracted the attention of many scholars. Its influence has outgrown the sphere of economics. Business accounting theory also is being reexamined from the view-point of this new perspective. This article is a report of such a re-consideration on business accounting disclosure. Our major point is a proposal of "distrust dissolution" accounting. We believe there exist at least three different, though interrelated, financial accounting objectives. But among them, the most fundamental one is "dissolution of the investors' distrusts". We will start by analyzing those three social functions of financial accounting measurement.

Date: 1988
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