Accounting, Economics, and Law: A Convivium最新文献

{"title":"Will Proclaimed Changes to Multinationals’ Taxation Have an Actual Effect and What Will Really Change for Africa?","authors":"Andrea Musselli","doi":"10.1515/ael-2024-0010","DOIUrl":"https://doi.org/10.1515/ael-2024-0010","url":null,"abstract":"Abstract The article is a comment to Conceptualising the behaviour of MNEs, Tax Authorities and Tax Consultants in respect of transfer pricing practices. A three-layer analysis, by Wealth, Smulders, and Mpofu. The latter deals with transfer pricing but in the African perspective while the most part of articles frequently analyze the issue from the point of view of most developed and OECD (Organisation for Economic Co-operation and Development) countries. The paper focuses on the qualities of the commented article and proposes a resume on the state of art of the complex recent reforms of transfer pricing rules disposed by the OECD.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"119 20","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141360548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Credit Council in the US Context","authors":"John Davis Feldmann","doi":"10.1515/ael-2023-0134","DOIUrl":"https://doi.org/10.1515/ael-2023-0134","url":null,"abstract":"\u0000 The proper role of central banks – in the US the Federal Reserve – is again up for scrutiny and criticism as the consequences of the monetary policies of the Great Financial Crisis (GFC) are fully revealed. Into the debate comes the proposal of an updated version of the Credit Council, an institution that worked alongside central banks in many European countries in the adjustment from a wartime to a peacetime economy post WWII. The renovated and reconstituted European Credit Council, as conceived by Eric Monnet of the Paris School of Economics, would participate as an aid to both the legislature and central banks in developing and monitoring monetary policy. Monnet sees additional institutional oversight to be essential as central banks confront the multifaceted challenges of escaping from GFC experimental policies and dealing with emerging challenges such as the Green Transition and social inequality. Monnet’s idea has its supporters and critics in the European context. This paper attempts to assess the utility and efficacy of the Credit Council in the US context, using: (i) the EU criticisms to anticipate and respond to likely objections from US critics; and (ii) the current Fed reform debate in the US to gauge potential fit and acceptance. The conclusion, in brief, is that the Monnet CC concept could fit well within the US context and is a potentially useful mechanism for enhancing democratic responsiveness and adding to policy legitimacy as the Fed deals with existing and imminent monetary arena challenges.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"3 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141004691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Yuji Ijiri’s Fairness Question in Accounting: A Deontological Game Theoretic Approach","authors":"Tae Wan Kim, Pierre Jinghong Liang, John Hooker","doi":"10.1515/ael-2022-0070","DOIUrl":"https://doi.org/10.1515/ael-2022-0070","url":null,"abstract":"\u0000 We revisit the question initially raised by Yuji Ijiri about the notion of fairness in accounting. We argue that the fairness question was important then and remains relevant today. First we situate Ijiri’s question in relevant debates in the history of accounting thoughts and in contemporary debates. Then we develop a framework of fair flow of information for accounting practices. To do so, we draw upon deontological ethical theory and the generalization principle, in particular. We invite a counter-example from the game-theoretic phenomenon of signal jamming to challenge the generalization principle. By addressing the challenge, we further clarify the appropriate uses of the generalization principle.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":" 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140091583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accounting and Finance: Complementarity and Divergence","authors":"Yuri Biondi","doi":"10.1515/ael-2023-0132","DOIUrl":"https://doi.org/10.1515/ael-2023-0132","url":null,"abstract":"\u0000 \u0000Penman (2023. Accounting for Uncertainty. Accounting, Economics, and Law: A Convivium) develops a conceptual framework which reconciles accounting and finance in view to provide information for financial investment. His framework is based upon resolution of uncertainty over expectations as a convenient basis for accrual accounting. In this context, accrual accounting can be interpreted as a convenient instrument to protect the corporate capacity to generate future earnings on which the expected financial value is based upon. However, in order to fulfil this control function, accounting applies an additive process (simple return), while financial valuation imposes a multiplicative process (compound return) over the invested financial capital. This divergence between accounting and finance enables disentangling business profit – as determined by accounting – from money interest and ownership rent, paving the way to a theory of the business firm based upon its accounting structure, and enabling measures of financial performance consistent with this divergence.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"33 18","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140441493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Arm’s Length Principle – An Adequate Means for Taxing Multinational Corporate Groups?","authors":"Hendrik Sander, Anna-Lena Scherer, Ute Schmiel","doi":"10.1515/ael-2023-0018","DOIUrl":"https://doi.org/10.1515/ael-2023-0018","url":null,"abstract":"\u0000 International tax law is characterized by the arm’s length principle. However, the arm’s length principle is highly criticized since it is seen as a major driver of tax avoidance. Although the OECD’s Two-Pillar Solution and EU initiatives seem to indicate that international tax law is in a state of change, the arm’s length principle remains relevant. Therefore, we deal with the question whether it is possible to improve the arm’s length principle. While previous attempts ask, for example, whether it is possible to reduce its complexity, we focus on the aspect that the OECD Transfer Pricing Guidelines do not refer to a theory of the formation of prices in transactions between independent parties. We advocate developing a theoretical substantiation and introduce a new interpretation of the arm’s length principle, based mainly on concepts of a general evolutionary theory and political-cultural market theory. This reference to an adequate market theory leads us to a new interpretation of the arm’s length principle that differs considerably from the current interpretation. Still, we doubt that this new interpretation of the arm’s length principle alone can reduce tax avoidance significantly. However, understood as one instrument in a mix of instruments, we estimate that this interpretation of the arm’s length principle constitutes a more adequate means for fighting tax avoidance of multinational corporate groups than its current interpretation.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"4 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139958722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate Social Responsibility in China: A Tool of Policy Implementation","authors":"Jie Zeng","doi":"10.1515/ael-2022-0085","DOIUrl":"https://doi.org/10.1515/ael-2022-0085","url":null,"abstract":"\u0000 Corporate social responsibility (CSR) in China is a result of political, regulatory, and administrative pressures and civil society pressures. The Chinese Communist Party (CCP) plays a dominant role in deciding the content of CSR, while the other influences are rather limited. As a result, Chinese CSR has not only voluntary and explicit elements but also mandatory and implicit elements. On the one hand, companies can perform CSR in a way that aligns with their commercial interests. On the other, CSR is a response to the CCP’s political pressure, while corporate failure to satisfy the requirements can result in serious negative impacts on companies’ business. In China, CSR has moved far from its origins as a tool of reputation enhancement and assumed a sui generis meaning as a tool of policy implementation. CSR has been evolving towards legal requirements in other jurisdictions as well, such as the EU. However, in China, the main force behind CSR comes from the CCP, which wields legislative and administrative power to promote CSR in a way that aligns with its political interests.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"66 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139837531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate Social Responsibility in China: A Tool of Policy Implementation","authors":"Jie Zeng","doi":"10.1515/ael-2022-0085","DOIUrl":"https://doi.org/10.1515/ael-2022-0085","url":null,"abstract":"\u0000 Corporate social responsibility (CSR) in China is a result of political, regulatory, and administrative pressures and civil society pressures. The Chinese Communist Party (CCP) plays a dominant role in deciding the content of CSR, while the other influences are rather limited. As a result, Chinese CSR has not only voluntary and explicit elements but also mandatory and implicit elements. On the one hand, companies can perform CSR in a way that aligns with their commercial interests. On the other, CSR is a response to the CCP’s political pressure, while corporate failure to satisfy the requirements can result in serious negative impacts on companies’ business. In China, CSR has moved far from its origins as a tool of reputation enhancement and assumed a sui generis meaning as a tool of policy implementation. CSR has been evolving towards legal requirements in other jurisdictions as well, such as the EU. However, in China, the main force behind CSR comes from the CCP, which wields legislative and administrative power to promote CSR in a way that aligns with its political interests.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"56 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139778095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accounting for Uncertainty","authors":"Stephen Penman","doi":"10.1515/ael-2022-0059","DOIUrl":"https://doi.org/10.1515/ael-2022-0059","url":null,"abstract":"Abstract In accordance with the theme of the Yuri Ijiri lectures, I focus on something foundational to accounting: the communication of uncertainty through accounting numbers. I do so in the context of providing information to investors about “the amount, timing, and uncertainty of future cash flows”, an objective of accounting standard setters (with emphasis added). I outline accounting principles that convey uncertainty and discuss the implications for a financial statement analysis that extracts information about uncertainty. I also show how accounting-based valuation is modified to incorporate that information. Asset pricing in finance deals with risk and uses accounting numbers to do so. I explain how that endeavor might be improved by recognizing the accounting for uncertainty. That puts accounting and finance on the same platform. Finally, I address normative issues of accounting policy for conveying information about the uncertainty of future cash flows.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":" 42","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139143396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cannabis Legalization: Social Risk Assessment and Economic Forecast","authors":"S. Mammadova, A. Guliyeva, T. Kvasnikova, A. Serebrennikova, Yuliya Tikhonova","doi":"10.1515/ael-2023-0088","DOIUrl":"https://doi.org/10.1515/ael-2023-0088","url":null,"abstract":"Abstract The paper considers the problem of the economic feasibility of cannabis legalization in the Russian Federation. The paper also analyzes attitudes towards cannabis legalization among 584 residents (291 female and 293 male, 18.8 ± 1.4 for men, 18.3 ± 1.6 for women) from two different Russian regions (with the highest (Republic of Khakassia, Chelyabinsk Region, Moscow Region, Amur Region, and Saint-Petersburg) and lowest (Chukotka Autonomous District, Nenets Autonomous District, Chechen Republic, Arkhangelsk Region, and Orel Region) per capita drug use in the Russian Federation). All participants were interviewed via the Internet. In the first stage, a keyword analysis categorized articles into medical (48 %) and non-medical (52 %) cannabis use, revealing varied perspectives on its benefits and risks. The second stage surveyed Russian citizens, indicating regional differences in attitudes toward cannabis legalization based on per capita drug use. The third stage conducted a PEST analysis, highlighting economic consequences and offering recommendations. Practical implications include the need for targeted prevention programs, effective curriculum modules, and collaborative efforts to address the complex challenges associated with cannabis legalization. The study found that the public attitude towards the legalization of drugs for non-medical purposes is negative. In regions with the highest per capita soft drug use, the legalization of non-medical cannabis is unlikely to cause an increase in the level of usage. Teenagers living in regional centers tend to be more engaged in trying and using cannabis (11.9 %) compared to other cities (8.8 %, p ≤ 0.05) and rural areas, where the rate of cannabis use was the lowest (5.4 %, p ≤ 0.05). This research underscores the importance of tailored interventions and educational strategies to address diverse attitudes toward cannabis legalization. The findings contribute valuable insights for policymakers, educators, and health professionals, guiding the development of informed approaches to substance use prevention. The recommendations emphasize the necessity of proactive measures, such as outreach programs and collaborative efforts, to navigate the multifaceted implications of cannabis legalization and promote overall societal well-being.","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"14 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139157374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Setting Statistical Hurdles for Publishing in Accounting","authors":"S. Teoh, Yinglei Zhang","doi":"10.1515/ael-2022-0104","DOIUrl":"https://doi.org/10.1515/ael-2022-0104","url":null,"abstract":"Abstract Ohlson (2023) argues that researchers tacitly avoid raising statistics-related ‘elephants’ that could undermine inferences. We offer a balanced perspective, first applauding the remarkable progress made in deriving testable predictions, leveraging modern statistical techniques, and tapping alternative Big Data sources to address issues relevant to practitioners, regulators and academia. While we concur with Ohlson’s elephants, we caution against over-criticism based on statistical design choices, as it risks creating new elephants. Our key lessons: focus on meaningful hypotheses, recognize merits of descriptive studies, balance Type I and II errors in data handling and journal reviewing, employ proper context when interpreting statistical significance and consider economic significance. Overall, though empirical accounting research faces challenges, criticism should not deter innovative research (Type II error in journal reviewing).","PeriodicalId":503384,"journal":{"name":"Accounting, Economics, and Law: A Convivium","volume":"15 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139159772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}