Financial Accounting for Markets or from Markets - Empirical Study of Financial Accounting Practice during and after the Global Financial Crisis with Regard to Mandatory and Voluntary Disclosures

Posted: 26 Sep 2015

See all articles by Dirk Beerbaum

Dirk Beerbaum

Frankfurt School of Finance & Management; Aalto University - Department of Accounting and Finance; Aalto University - School of Business

Date Written: September 24, 2015

Abstract

This working paper intends to follow an inductive approach by performing an empirical study of annual reports of global financial institutions during and after the Global Financial crisis in 2008 with regard to compulsory and voluntary company disclosures. The hypothesis is that due to the enormous market pressure, which was reflected in the low market prices companies were forced to enhance transparency of their financial reporting disclosures without further regulation with the intention to lower their cost of capital. Based on these findings it should be facilitated for standard-setters to assess what might be incentives for voluntary disclosures as well as for the extension of mandatory disclosures.

Keywords: Accouting theory, financial crisis, mandatory, voluntary, disclosures

JEL Classification: K1

Suggested Citation

Beerbaum Dr., Dirk, Financial Accounting for Markets or from Markets - Empirical Study of Financial Accounting Practice during and after the Global Financial Crisis with Regard to Mandatory and Voluntary Disclosures (September 24, 2015). Available at SSRN: https://ssrn.com/abstract=2665381

Dirk Beerbaum Dr. (Contact Author)

Frankfurt School of Finance & Management ( email )

Adickesallee 32-34
Frankfurt am Main, 60322
Germany

Aalto University - Department of Accounting and Finance ( email )

P.O. Box 1210
Helsinki, 00100
Finland

Aalto University - School of Business ( email )

Finland

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