How can business reporting be improved? A research perspective

Martin Walker

Accounting and Business Research, 2006, vol. 36, issue S1, 95-105

Abstract: This paper provides a commentary on the four main papers presented at the 2006 Information for Better Market's Conference. Since the purpose of the conference is to encourage policy relevant research, this commentary discusses some of the key policy issues raised by the papers, and it identifies areas where either further work is needed or where a change in the orientation of academic research may be appropriate in order to increase its policy relevance. A particular theme of this paper is the need to think about corporate accounting and financial disclosure policy issues in a realistic economic context which allows for: moral hazard (investors cannot observe managers' decisions), adverse selection (managers have insider information), significant proprietary costs of disclosure. and the possibility that the market has value relevant information that is not observed by managers.

Date: 2006
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DOI: 10.1080/00014788.2006.9730050

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