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Stability of Monetary Unit and Informativeness of Corporate Financial Reporting

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  • Shyam Sunder

Abstract

Monetary unit is a basic element of accounting used to manage, report, govern and tax organizations in all sectors of the economy. Instability of monetary unit introduces noise, weakening the effectiveness of accounting in performing its important economic roles in society. We model the impact of monetary instability on the accuracy of accounting valuation and consequently on the economics of managing organizations. We also examine some empirically testable implications of the theory. Though the magnitude of this effect remains to be estimated, it may be significant enough to deserve explicit consideration in selection of monetary policy.

Suggested Citation

  • Shyam Sunder, 2002. "Stability of Monetary Unit and Informativeness of Corporate Financial Reporting," Yale School of Management Working Papers ysm282, Yale School of Management, revised 01 Jul 2002.
    • Handle: RePEc:ysm:somwrk:ysm282
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    File URL: http://icfpub.som.yale.edu/publications/2431
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    References listed on IDEAS

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    1. Sunder, S, 1978. "Accuracy Of Exchange Valuation Rules," Journal of Accounting Research, Wiley Blackwell, vol. 16(2), pages 341-367.
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