Christian Leuz is Assistant Professor in Accounting at the Wharton School of the University of Pennsylvania. Prior to this position, he lectured at the Otto Beisheim Graduate School of Management, the University of Tübingen, and Goethe University Frankfurt. He was the Harry Reynolds International Visiting Professor at the Wharton School and a visiting post-doctoral fellow at the Simon School of Business, University of Rochester. Professor Leuz earned his doctoral degree in 1996 at the Goethe University Frankfurt where he also received his "Habilitation" in Business Administration in 2000. He has published numerous articles. Currently, he is an associate editor of the European Accounting Review. Professor Leuz is a Fellow of the Financial Institutions Center and received several grants and honors, of which the 'Best Paper Award 2002' granted by the German Association of Business Professors is the latest.

Dieter Pfaff is Professor of Accounting in the Department of Economics, Business Administration, and Information Technology, at the University of Zurich. Prior to this position Professor Pfaff lectured at the University of Frankfurt. Professor Pfaff has published a number of works on accounting.

Anthony Hopwood is the Peter Moores Dean of the Saïd Business School, the American Standard Companies Professor of Operations Management, and Student of Christ Church at the University of Oxford. Educated at the London School of Economics and the University of Chicago, prior to moving to Oxford in 1995 Professor Hopwood had held professorships at the London Business School and the London School of Economics. He also is the President of the European Institute for Advanced Studies in Management, Brussels. Professor Hopwood is also Editor-in-Chief of the major international research journal, Accounting, Organizations and Society. He has served as a consultant to commercial, governmental and international organizations. Professor Hopwood holds honorary doctorates from universities in Denmark, Finland, Sweden and the United Kingdom.

• Preface


• 1: Christian Leuz, Dieter Pfaff, and Anthony Hopwood: Introduction and Overview


• Part I: One the Economics and Roles of Accounting


• Roles of Financial Accounting: Equity Valuation


• 2: Alfred Wagenhofer: Accounting and Economics: What We Learn From Analytical Models in Finanical Accounting and Reporting


• 3: Michael Bromwich: Aspects of the Future in Accounting: The Use of Market Prices and 'Fair Values' in Financial Reports


• 4: Wolfgang Ballwieser: The Limitations of Financial Reporting


• Roles of Fianancial Accounting: Performance Measurement and Corporate Governance


• 5: Dieter Pfaff: Value-Based Management and Performance Measures: Cash Flow Versus Accrual Accounting


• 6: Ray Ball: Corporate Governance and Financial Reporting at Daimler-Benz (DaimlerChrysler) AG: From a 'Stakeholder' Toward a 'Shareholder Value' Model


• Part II: On the Regulation and Enforcement of Accounting


• Disclosure Regulation


• 7: Robert Verrecchia: Policy Implications from the Theory-Based Literature on Disclosure


• 8: Christian Leuz: Proprietary Versus Non-Proprietary Disclosures: Evidence from Germany


• Enforcement of Accounting Standards


• 9: Walther Busse von Colbe: New Accounting for Goodwill: Application of American Criteria from a German Perspective


• 10: Günter Gebhardt and Aaron Heilmann: Compliance with German and International Accounting Standards in Germancy: Evidence from Cash Flow Statements


• 11: Ralf Ewert: Audit Regulation, Audit Quality, and Audit Research in the Post-Enron Era: An Analysis of Non-Audit-Services


• Part III: On the Politics and Standard Setting of Accounting


• The Role of Accounting in Society and Constituent Lobbying


• 12: Dieter Ordelheide: The Politics and Ontology of Accounting


• 13: Stuart McLeay, Dieter Ordelheide, and Steven Young: Constituent Lobbying and its Impact on the Development of Financial Reporting Regulations: Evidence from Germany


• 14: Stuart McLeay and Doris Merkl: Drafting Accounting Law: An Analysis of Institutionalised Interest Representations


• Standard Setting Processes and International Accounting Standards


• 15: Karel van Hulle: From Accounting Directives to International Accounting Standards


• 16: Michael Power: Academics in the Accounting Policy Process: England and Germany Compared