Consolidation in national accounts: Implications for municipal enterprises

IF 3.3 3区管理学 Q1 BUSINESS, FINANCE

Journal of Accounting and Public Policy Pub Date : 2024-11-01 DOI:10.1016/j.jaccpubpol.2024.107257

Christina Dargenidou , Marta De Vicente-Lama , Beatriz García Osma

引用次数: 0

Abstract

We argue and find evidence that the spending of consolidated municipal enterprises is influenced by elected officials’ incentives to meet fiscal policy targets. Our evidence indicates that municipalities have control over the operating decisions of consolidated municipal enterprises, despite their autonomous legal status. Importantly, we find that the implications of elected officials’ attempts to avoid a fiscal deficit for consolidated subsidiaries’ spending do not extend to the counterfactual case of non-consolidated entities also owned by the municipality. Therefore, while consolidation promotes fiscal monitoring, it also plausibly enables politicians’ agenda to permeate areas designated to be kept at arm’s length.

查看原文本刊更多论文

国民账户的合并：对市政企业的影响

我们认为，合并后的市政企业的支出受到民选官员为实现财政政策目标而采取的激励措施的影响，并找到了相关证据。我们的证据表明，尽管合并后的市政企业具有自主法律地位，但市政当局对其运营决策拥有控制权。重要的是，我们发现民选官员避免财政赤字的努力对合并子公司支出的影响并没有延伸到同样由市政府所有的非合并实体的反事实情况。因此，合并在促进财政监督的同时，也使政治家的议程渗透到了被指定保持一定距离的领域。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Accounting and Public Policy Multiple-

CiteScore

4.80

自引率

2.80%

发文量

期刊介绍： The Journal of Accounting and Public Policy publishes research papers focusing on the intersection between accounting and public policy. Preference is given to papers illuminating through theoretical or empirical analysis, the effects of accounting on public policy and vice-versa. Subjects treated in this journal include the interface of accounting with economics, political science, sociology, or law. The Journal includes a section entitled Accounting Letters. This section publishes short research articles that should not exceed approximately 3,000 words. The objective of this section is to facilitate the rapid dissemination of important accounting research. Accordingly, articles submitted to this section will be reviewed within fours weeks of receipt, revisions will be limited to one, and publication will occur within four months of acceptance.