International differences in the demand for accounting income predictably affect the way it incorporates economic income (change in market value) over time. We characterize the "shareholder" and "stakeholder" corporate governance models of common and cod law countries respectively as resoling information asymmetry by public disclosure and private communication. Also, code law directly links accounting income to current.
Department, Program, or Center
Journal of Accounting and Economics 29. 2000. 1 - 51.
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