财务会计理论(司可脱)PPT文件13_scott_im_ch13.pptVIP

CHAPTER 13 Standard Setting: Political Issues Two Theories of Regulator Behaviour Public Interest Theory A “first best” theory Goal is to maximize social welfare Interest Group Theory Implies conflict between constituencies A “second best” theory, since regulator takes own interests into account, while balancing demands of investors and managers Investors’ Demands On Standard Setting Investors Represented by OSC, SEC, IOSCO Want Full Disclosure, Fair Values, Transparency Want to Predict Future Firm Performance Managements Demands on Standard Setting Wants Flexibility to Control (Manage) Rep