Do Accrual Numbers Really Affect the Financial Market? An Empirical Analysis of ESA Accounts Across the EU

Alessandro Giosi, Sandro Brunelli and Marco Caiffa

International Journal of Public Administration, 2015, vol. 38, issue 4, 297-310

Abstract: The adoption of a full accrual framework in the public sector is differentiated country by country both for budgeting and for reporting phases. The purpose of this article is to address the following broader research question: How do accrual numbers affect the financial markets? The 10-year average interest rate on sovereign bonds across the European Union is used as a dependent variable. The results of the research show an unclear relation among the variables investigated. Given this evidence, an alignment between micro- and macroaccounting rules could be pursued. We argue the suitability of the Australian experience in this sense.

Date: 2015
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DOI: 10.1080/01900692.2015.999591

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