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Sitzungsübersicht
Sitzung
RECH2: Financial Accounting
Zeit:
Donnerstag, 19.03.2020:
12:30 - 14:00

Chair der Sitzung: Jörg-Markus Hitz, Georg-August University Goettingen
Ort: Virtueller Raum 5

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Präsentationen

Global standards without the United States? Institutional work and the U.S. non-adoption of IFRS

Kirstin Becker2, Holger Daske3, Christoph Pelger1

1Universität Innsbruck, Österreich; 2Copenhagen Business School, Dänemark; 3Universität Mannheim, Deutschland

The most significant setback to the global spread of IFRS has been their non-adoption for U.S. issuers. To better understand the dynamics underlying U.S. non-adoption, we employ an institutional theory perspective and investigate how U.S. actors used institutional work to prevent or enable the adoption of IFRS for U.S. issuers. Based on a content analysis of U.S. actors’ feedback to the SEC’s invitations for comment over the period 2007-2011, we provide an in-depth account of the U.S. discourse on the desirability of adopting IFRS. Our paper shows how the institutional context enabled and restricted U.S. actors’ institutional work. At first, transnationally operating U.S. actors dominated in 2007, highlighting the importance of isomorphic pressures and suggesting ways of how to address adoption challenges. However, fostered by a change in the SEC’s proposal (mandatory instead of voluntary adoption) as well as by the financial crisis, in 2008/2009 nationally oriented U.S. actors took the lead, challenging the relevance of isomorphic pressures and emphasizing the insurmountability of adoption chal-lenges. In 2011, U.S. actors continued to struggle over the effects and the urgency of a move towards IFRS, mirroring the SEC’s inability to come to a final conclusion.



Fighting Climate Change with Disclosure? The Real Effects of Mandatory Greenhouse Gas Emission Disclosure

Benedikt Downar1, Jürgen Ernstberger1, Hannes Rettenbacher3, Sebastian Schwenen1, Aleksandar Zaklan2

1Technische Universität München, Deutschland; 2DIW Berlin; 3PriceWaterhouseCoopers

We examine whether mandatory disclosure of greenhouse gas (GHG) emissions influences companies’ GHG emission levels. We identify the disclosure effect by exploiting a mandate requiring UK-incorporated listed companies to disclose information on GHG emissions in their annual reports. Using a difference-in-differences design, we show that disclosing GHG emissions in annual reports reduces emission levels by about 18% over three years. In addition, we find evidence that emission reductions also occur for firms who already voluntarily reported GHG information prior to the mandate. Further, we find that the emission reductions are permanent rather than transitory and we obtain stronger results for firms with larger savings potentials. Our effects are robust to various sample specifications, i.e., analysis at the installation- and firm-level, alternative control groups, and propensity score matching.



 
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