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Investigating corporate management lobbying in the U.K. accounting standard‐setting process: a multi‐issue/multi‐period approach

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  • George Georgiou

Abstract

A large body of literature examines the motives of corporate managers to lobby accounting standard‐setters. In general, studies confine their examination to single episodes of the standard‐setting process (e.g., exposure draft). This article extends the literature by adopting a multi‐issue/multi‐period approach to investigate corporate lobbying of the U.K.'s ASB. The findings suggest that the extent of corporate lobbying, defined on the basis of the frequency with which companies made submissions to all of the publications issued by the ASB over a six‐year period, depends on the size of companies, the debt covenant costs they face and whether they are listed on a U.S. stock exchange. Separate analyses, however, involving (a) the frequency of lobbying on income‐related issues and (b) the frequency of lobbying on disclosure issues revealed that, while all these three variables explain lobbying on income‐related issues, only size is significant in explaining lobbying on disclosure issues. The results also suggest that the debt to equity ratio is an imperfect proxy for debt covenant costs.

Suggested Citation

  • George Georgiou, 2005. "Investigating corporate management lobbying in the U.K. accounting standard‐setting process: a multi‐issue/multi‐period approach," Abacus, Accounting Foundation, University of Sydney, vol. 41(3), pages 323-347, October.
    • Handle: RePEc:bla:abacus:v:41:y:2005:i:3:p:323-347
    DOI: 10.1111/j.1467-6281.2005.00185.x
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    Cited by:

    1. Cortese, Corinne & Irvine, Helen, 2010. "Investigating international accounting standard setting: The black box of IFRS 6," Research in Accounting Regulation, Elsevier, vol. 22(2), pages 87-95.
    2. Pranil Prasad & Parmod Chand, 2017. "The Changing Face of the Auditor's Report: Implications for Suppliers and Users of Financial Statements," Australian Accounting Review, CPA Australia, vol. 27(4), pages 348-367, December.
    3. Philip D. Palmer, 2013. "Exploring attitudes to financial reporting in the Australian not-for-profit sector," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 53(1), pages 217-241, March.
    4. Rey, Andrea & Maglio, Roberto & Rapone, Valerio, 2020. "Lobbying during IASB and FASB convergence due processes: Evidence from the IFRS 16 project on leases," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 41(C).
    5. Larson, Robert K., 2008. "An examination of comment letters to the IASC: Special purpose entities," Research in Accounting Regulation, Elsevier, vol. 20(C), pages 27-46.
    6. Hoffmann, Sebastian & Zülch, Henning, 2014. "Lobbying on accounting standard setting in the parliamentary environment of Germany," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(8), pages 709-723.
    7. Roland Königsgruber, 2013. "Expertise-based lobbying and accounting regulation," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(4), pages 1009-1025, November.
    8. Larson, Robert K. & Kenny, Sara York, 2011. "The financing of the IASB: An analysis of donor diversity," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 20(1), pages 1-19.
    9. Renata Stenka & Peter Taylor, 2010. "Setting UK standards on the concept of control: An analysis of lobbying behaviour," Accounting and Business Research, Taylor & Francis Journals, vol. 40(2), pages 109-130.
    10. Georgios Voulgaris & Konstantinos Stathopoulos & Martin Walker, 2015. "CEO Pay Contracts and IFRS Reconciliations," European Accounting Review, Taylor & Francis Journals, vol. 24(1), pages 63-93, May.
    11. Urska Kosi & Antonia Reither, 2014. "Determinants of Corporate Participation in the IFRS 4 (Insurance Contracts) Replacement Process," Accounting in Europe, Taylor & Francis Journals, vol. 11(1), pages 89-112, June.
    12. Roland Königsgruber & Stefan Palan, 2015. "Earnings management and participation in accounting standard-setting," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 23(1), pages 31-52, March.
    13. Weetman, Pauline, 2006. "Discovering the ‘international’ in accounting and finance," The British Accounting Review, Elsevier, vol. 38(4), pages 351-370.
    14. Raf Orens & Ann Jorissen & Nadine Lybaert & Leo Van Der Tas, 2011. "Corporate Lobbying in Private Accounting Standard Setting: Does the IASB have to Reckon with National Differences?," Accounting in Europe, Taylor & Francis Journals, vol. 8(2), pages 211-234.
    15. Huian Maria Carmen, 2013. "Analysis Of The Constituents’ Participation In The Development Of The 1st Phase Of Ifrs 9 Financial Instruments," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 209-216, February.

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