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  • 1
    Publication Date: 2019-01-03
    Description: [Purpose:] The last four decades have seen the rise of the International Accounting Standards Board (IASB) as the core locus of transnational accounting regulation. Initial steps of associational cooperation were superseded by establishing a standard setting organization that heavily draws on consultation procedures. The purpose of this paper is to focus on recent changes in governance and accountability of IASB in the aftermath of the financial crisis. Emphasis is given to the organizational configuration, the ambivalence of consultation procedures and reactions to mounting criticism after the crisis. The paper proposes that IASB is the heart of a new transnational regulatory constellation in accounting. [Design/methodology/approach:] The material and analysis presented in the paper derives from an extensive review of official reports, consultation documents and related responses and a range of additional information available on IASB's web page. [Findings:] The paper analyzes how IASB uses legitimation strategies to defend its position as a transnational standard setter. From analysis of recent changes, the paper reveals a growing reliance on – and domination through – consultation procedures. The paper also shows the IASB’S swift action to counter substantial criticism emerging with the financial crisis. [Practical implications:] By highlighting developments surrounding IASB, its governance structure and the emphasis on consultation, the paper establishes the importance for public policy of further study and debate the operation of IASB. It could also contribute to re-politicize accounting regulation at the transnational level. [Originality/value:] IASB is an integral player in global financial governance processes and is only recently receiving substantial academic accounting research. This paper seeks to provide an introduction and critical account of the organization's development.
    Description: Dieser Beitrag ist mit Zustimmung des Rechteinhabers aufgrund einer (DFG-geförderten) Allianz- bzw. Nationallizenz frei zugänglich / This publication is with permission of the rights owner freely accessible due to an Alliance licence and a national licence (funded by the DFG, German Research Foundation) respectively.
    Keywords: ddc:330 ; legitimacy ; financial crisis ; due process ; IASB ; transnational regulatory constellation
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:article
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  • 2
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    Vienna: Institute for Advanced Studies (IHS)
    Publication Date: 2018-10-26
    Description: This paper develops a fully modified OLS estimator for cointegrating polynomial regressions, i.e. for regressions including deterministic variables, integrated processes and powers of integrated processes as explanatory variables and stationary errors. The errors are allowed to be serially correlated and the regressors are allowed to be endogenous. The paper thus extends the fully modified approach developed in Phillips and Hansen (1990). The FM-OLS estimator has a zero mean Gaussian mixture limiting distribution, which is the basis for standard asymptotic inference. In addition Wald and LM tests for specification as well as a KPSS-type test for cointegration are derived. The theoretical analysis is complemented by a simulation study which shows that the developed FM-OLS estimator and tests based upon it perform well in the sense that the performance advantages over OLS are by and large similar to the performance advantages of FM-OLS over OLS in cointegrating regressions.
    Keywords: C12 ; C13 ; C32 ; ddc:330 ; cointegrating polynomial regression ; fully modified OLS estimation ; integrated process , testing
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
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    Düsseldorf: Hans-Böckler-Stiftung, Wirtschafts- und Sozialwissenschaftliches Institut (WSI)
    Publication Date: 2018-06-27
    Description: In economics and other social sciences, complex processes are often represented by numerical models of reality which more or less well reflect behavioral relationships and interactions. Such attempts are the subject of a lecture course 'Mathematical Theory of Democracy' by the author at the Faculty of Economics of the Karlsruhe Institute of Technology. One new result in this field is presented here in the form of a statistical test to decide whether a political party or coalition of parties represents a majority of the population. For this purpose, party or coalition positions on a sample of policy issues, like introduction of a legal nationwide minimum wage, privatization of railways, and others, are compared with the results of public opinion polls on the same issues. The test is based on estimating the statistical significance of the coincidence observed (i.e. how likely is the coincidence by chance) to the end of accepting or rejecting the representativeness hypothesis. The test is developed for single parties and coalitions of two or three parties. It is illustrated with an estimation of representativeness of five major German parties and their potential coalitions basing on the official party manifestos published before the German parliamentary elections 2009 and on relevant polls of public opinion.
    Description: In der Ökonomie und den anderen Sozialwissenschaften wird immer wieder versucht, komplexe Prozesse der Wirklichkeit durch numerische Modelle abzubilden - was mit Abstraktionen für z. B. Verhaltens- und Wirkungsrelationen mehr oder weniger gut gelingt. Solche Versuche sind Gegenstand einer Vorlesungsreihe 'Mathematische Theorie der Demokratie' des Autors an der Wirtschaftswissenschaftlichen Fakultät des Karlsruhe Institut für Technologie. Ein neues Ergebnis in diesem Bereich wird hier vorgelegt in Form eines statistischen Tests, der entscheiden soll, ob eine politische Partei oder eine Parteienkoalition repräsentativ im Sinn der Bevölkerungsmehrheit agiert. Zu diesem Zweck wird die Übereinstimmung von Parteien- oder Koalitionspositionen mit Ergebnissen von Meinungsumfragen in der Bevölkerung verglichen, etwa zur Einführung eines bundesweiten gesetzlichen Mindestlohns oder der Privatisierung des Schienenverkehrs und anderem mehr. Der Test basiert auf der Einschätzung der statistischen Signifikanz der beobachteten Übereinstimmung (d.h. wie wahrscheinlich ist eine nur zufällige Übereinstimmung), um die Hypothese von der Repräsentativität der Politik zu akzeptieren oder abzulehnen. Die Studie spielt die Repräsentativität von einzelnen Parteien sowie von Zweier- und Dreier-Koalitionen durch. Darunter ist auch die Konstellation der fünf großen deutschen Parteien und ihrer potentiell möglichen Koalitionen auf der Basis der Bundestagswahl von 2009.
    Keywords: C12 ; C44 ; C63 ; D71 ; D72 ; ddc:330 ; mathematical theory of democracy ; statistical test ; parties ; coalitions ; representativeness ; Bernoulli matrices ; sums of random vectors ; Demokratie ; Politische Partei ; Öffentliche Meinung ; Wahlverhalten ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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