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Bridging financial reporting research and policy: a discussion of “the impact of accounting standards on pension investment decisions”

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  • Cascino, Stefano

Abstract

Barthelme et al. (2018) examine the real effects of pension accounting regulation and provide evidence consistent with the claim that recent changes in financial reporting rules affect pension asset allocation decisions. Their study offers an interesting opportunity to highlight the importance of evidence-based policymaking in the field of financial reporting. I discuss some empirical challenges that the authors face to causally identify the effects they examine to show how a closer cooperation between academia and regulators can enable researchers to overcome identification challenges and help produce even more policy-relevant research.

Suggested Citation

  • Cascino, Stefano, 2018. "Bridging financial reporting research and policy: a discussion of “the impact of accounting standards on pension investment decisions”," LSE Research Online Documents on Economics 90194, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:90194
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    File URL: http://eprints.lse.ac.uk/90194/
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    References listed on IDEAS

    as
    1. Christian Leuz, 2018. "Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research," Accounting and Business Research, Taylor & Francis Journals, vol. 48(5), pages 582-608, July.
    2. Katherine Schipper, 2010. "How can we measure the costs and benefits of changes in financial reporting standards?," Accounting and Business Research, Taylor & Francis Journals, vol. 40(3), pages 309-327.
    3. Chandra Kanodia & Haresh Sapra, 2016. "A Real Effects Perspective to Accounting Measurement and Disclosure: Implications and Insights for Future Research," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 623-676, May.
    4. Kanodia, Chandra, 1980. "Effects of Shareholder Information on Corporate Decisions and Capital Market Equilibrium," Econometrica, Econometric Society, vol. 48(4), pages 923-953, May.
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    6. Joshua D. Angrist & Jörn-Steffen Pischke, 2009. "Mostly Harmless Econometrics: An Empiricist's Companion," Economics Books, Princeton University Press, edition 1, number 8769.
    7. Abadie, Alberto & Imbens, Guido W., 2011. "Bias-Corrected Matching Estimators for Average Treatment Effects," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(1), pages 1-11.
    8. Glaeser, Stephen & Guay, Wayne R., 2017. "Identification and generalizability in accounting research: A discussion of Christensen, Floyd, Liu, and Maffett (2017)," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 305-312.
    9. Willem Buijink, 2006. "Evidence‐based financial reporting regulation," Abacus, Accounting Foundation, University of Sydney, vol. 42(3‐4), pages 296-301, September.
    10. Anantharaman, Divya & Lee, Yong Gyu, 2014. "Managerial risk taking incentives and corporate pension policy," Journal of Financial Economics, Elsevier, vol. 111(2), pages 328-351.
    11. Chandra Kanodia & Haresh Sapra & Raghu Venugopalan, 2004. "Should Intangibles Be Measured: What Are the Economic Trade‐Offs?," Journal of Accounting Research, Wiley Blackwell, vol. 42(1), pages 89-120, March.
    12. Christian Leuz & Peter D. Wysocki, 2016. "The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 525-622, May.
    13. Daniel Bergstresser & Mihir Desai & Joshua Rauh, 2006. "Earnings Manipulation, Pension Assumptions, and Managerial Investment Decisions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(1), pages 157-195.
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    More about this item

    Keywords

    regulation; evidence-based policymaking; accounting standards; pension asset allocation; IAS 19R; real effects;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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