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Financial Reporting for Varieties of Capitalism: The Case Against a Single Set of International Financial Reporting Standards

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Financial reporting is a powerful practice that shapes social and economic processes. This paper raises several doubts on the wisdom of current attempts to establish a single set of international financial reporting standards, tailored to the needs of stock market - based capitalism, which forces economies to standardize onto a single economic model. It is at time of great uncertainty and change that the advantages of variety can be appreciated. This paper therefore claims that financial reporting regulation should be large enough to accommodate different forms of capitalism and to let them compete on a level playing field.

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  • Palea, Vera, 2014. "Financial Reporting for Varieties of Capitalism: The Case Against a Single Set of International Financial Reporting Standards," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201442, University of Turin.
    • Handle: RePEc:uto:dipeco:201442
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