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Shyam Sunder

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Extensive Income And Value Of The Firm: Who Gets What?, Shyam Sunder Oct 2008

Extensive Income And Value Of The Firm: Who Gets What?, Shyam Sunder

Shyam Sunder

In the neoclassical model of the firm, value surplus of the firm is assumed to accrue to its owner. Contract model suggests a distribution of the surplus among various agents depending on the imperfections of the markets in which they transact with the firm. If the share of the surplus to an agent declines with the perfection of the market in which he transacts, shareholders should be expected to get only a small piece of the pie, violating the neoclassical assumption. The paper explores an extensive value concept and its measurement for firms. It also examines the implications of extensive …

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Are Regulatory Mandate And Independence Necessary For Audit Quality?, Shyam Sunder, Karim Jamal Oct 2008

Are Regulatory Mandate And Independence Necessary For Audit Quality?, Shyam Sunder, Karim Jamal

Shyam Sunder

Two key assumptions underlying the regulation of U.S. financial reporting are the need to mandate the certification of financial statements, and to require that this certification be performed by independent auditors. Private incentives to demand (and supply) certification are thought to be insufficient, and independence is thought to be necessary for quality audit. In this study, we collect archival data on certification activity in the economy, and conduct a field experiment on an unregulated online market for certification of baseball cards to investigate the validity of these assumptions. Our results show that: (1) Private markets for certification services are ubiquitous …

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Accounting And Governance In Kautilya’S Arthaśāstra1, Shyam Sunder, Manjula Shyam Aug 2008

Accounting And Governance In Kautilya’S Arthaśāstra1, Shyam Sunder, Manjula Shyam

Shyam Sunder

Kautilya’s Arthaśāstra, from the end of the fourth century BC, provides interesting insights into the problems of governance, accounting and control in the Mauryan society. This paper uses the extent English translations of Arthaśāstra to summarize the structure of the Mauryan economy, trade, accounting and control, auditing, regulation and governance processes based primarily on Chapters 6, 7, and 8 of Book 2 of Arthaśāstra. 

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Response To Faf Exposure Draft, “Proposed Changes To Oversight, Structure, And Operations Of The Faf, Fasb, And Gasb”, Robert H. Colson, George J. Benston, Douglas C. Carmichael, Theodore E. Christensen, Karim Jamal, Stephen Moehrle, Shivaram Rajgopal, Thomas Stober, Shyam Sunder, Ross L. Watts Jul 2008

Response To Faf Exposure Draft, “Proposed Changes To Oversight, Structure, And Operations Of The Faf, Fasb, And Gasb”, Robert H. Colson, George J. Benston, Douglas C. Carmichael, Theodore E. Christensen, Karim Jamal, Stephen Moehrle, Shivaram Rajgopal, Thomas Stober, Shyam Sunder, Ross L. Watts

Shyam Sunder

 The Financial Accounting Standards Committee of the American Accounting Association (the Committee) is charged with responding to requests for comments from standard-setters on issues related to financial reporting. The Financial Accounting Foundation (FAF) released for public comment on December 18, 2007 with a response period ending on February 10, 2008, “Proposed Changes to Oversight, Structure, and Operations of the FAF, FASB, and GASB” (the proposal). This commentary concerns four important public policy issues in the proposal with the most relevance for accounting standard setting: 1. Reduce the size of the FASB from seven members to five; 2. Retain the FASB …

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Ifrsaccountingconsensusandeducation-Text.Pdf, Shyam Sunder Jun 2008

Ifrsaccountingconsensusandeducation-Text.Pdf, Shyam Sunder

Shyam Sunder

No abstract provided.

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Ifrs, The Accounting Consensus, And Its Implications For Accounting Education, Shyam Sunder Jun 2008

Ifrs, The Accounting Consensus, And Its Implications For Accounting Education, Shyam Sunder

Shyam Sunder

No abstract provided.

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Value Of The Firm, Shyam Sunder May 2008

Value Of The Firm, Shyam Sunder

Shyam Sunder

No abstract provided.

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Ifrs, Accounting Consensus And Its Implications For Accounting Education, Shyam Sunder May 2008

Ifrs, Accounting Consensus And Its Implications For Accounting Education, Shyam Sunder

Shyam Sunder

No abstract provided.

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Better Corporate Governance: What, Why And How, Shyam Sunder Mar 2008

Better Corporate Governance: What, Why And How, Shyam Sunder

Shyam Sunder

No abstract provided.

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Monopoly Or Competition: Standard Setting In The Private And Public Sector, Shyam Sunder, Karim Jamal Dec 2007

Monopoly Or Competition: Standard Setting In The Private And Public Sector, Shyam Sunder, Karim Jamal

Shyam Sunder

Financial accounting standards in the U.S. are developed by private standard setting organizations (SSOs) that operate under the oversight of a government agency. The primary accounting SSO (FASB) has been criticized for writing too many standards (standards overload), the complexity of its standards, the processes by which its standards are set, and the absence of a competitive mechanism to help set standards. The present study seeks to assess the validity of these concerns by looking at standard setting processes in the broader economy. The study consists of three parts. In Section 1, we present some historical data on standard setting …

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International And National Standards And Norms Of Financial Reporting: Monopoly Or Competitive Coexistence, Shyam Sunder Aug 2007

International And National Standards And Norms Of Financial Reporting: Monopoly Or Competitive Coexistence, Shyam Sunder

Shyam Sunder

In recent decades, financial reporting has shifted away from reliance on social norms towards predominance of written standards enforced by authority. This change has influenced accounting thought, practice, regulation, instruction, and research. Moreover, monopoly jurisdiction of accounting standards has made it increasingly difficult to experiment with alternative methods, slowing the discovery of better methods of accounting. The so-called “fair” value standard is a result of this process. Letting standards compete would promote the development of better financial reporting and the restoration of a balance between the role standards and social norms play in financial reporting. 

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Auditor Liability Reforms In The Uk And The Us: A Comparative Review, Tim Bush, Stella Fearnley, Shyam Sunder Jul 2007

Auditor Liability Reforms In The Uk And The Us: A Comparative Review, Tim Bush, Stella Fearnley, Shyam Sunder

Shyam Sunder

The past decade has seen many changes in audit liability regimes of the US and the UK, and more may be on the way. These include LLP status for audit firms, proportional liability, and the introduction of various forms of liability caps through contract in engagement letters. These changes may affect audit quality, price and profitability, the organization of the market for audit services, as well as domestic and cross-national mechanisms for regulation of this market. What have been, or will be the consequences of these changes? Will the auditors, who advocate many of these reforms, benefit from them? Will …

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Yuri Ijiri Obituary Dec 2006

Yuri Ijiri Obituary

Shyam Sunder

No abstract provided.

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Why Reconsider The Top-Down Push For Uniform Financial Reporting Standards, Shyam Sunder Feb 2006

Why Reconsider The Top-Down Push For Uniform Financial Reporting Standards, Shyam Sunder

Shyam Sunder

No abstract provided.

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A Resource Granularity Framework For Estimating Opportunity Costs, Shyam Sunder Jan 2004

A Resource Granularity Framework For Estimating Opportunity Costs, Shyam Sunder

Shyam Sunder

This paper presents a framework to help decisions makers better measure the opportunity cost of resources with differing economic characteristics. After characterizing resources by the intrinsic lumpiness of acquisition (acquisition granularity), storability of benefits (expiration granularity), and control over the rate of consumption of available benefits (consumption granularity), this paper illustrates how these concepts can lead to improved decisions and assessment of observed practices. 

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Research Issues In Accounting For Cross-Border Organizations, Shyam Sunder Jun 2001

Research Issues In Accounting For Cross-Border Organizations, Shyam Sunder

Shyam Sunder

No abstract provided.

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Design And Implementation Of Contracts: A Comparison Of Factor Markets Relevant To Financial Reporting In Japan And The U.S, Shyam Sunder Dec 1998

Design And Implementation Of Contracts: A Comparison Of Factor Markets Relevant To Financial Reporting In Japan And The U.S, Shyam Sunder

Shyam Sunder

Design of contracts that define firm, and their accounting systems depend on the conditions in the firm’s factor and product markets. We examine the fundamental difficulty of defining and developing "uniform" accounting for diverse economic environments across countries and compare the differences in conditions prevailing in some key markets in Japan and the United States. There are important differences in industrial organization, accounting entities, markets for capital, managers, and labor, employee risk bearing, role of government, and market for corporate control. It would be difficult to defend the current reporting practices in either country to be optimal relative to the …

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Why Are There So Many Small Shops In Japan?, Shyam Sunder, James Mak Dec 1997

Why Are There So Many Small Shops In Japan?, Shyam Sunder, James Mak

Shyam Sunder

No abstract provided.

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Keiyakurironteki Kigyoukan To Daitaitei Kaikeikan: Kontenteki, Kantenkara, Jutakusekininjou No Kentenkara, Oyobi Sijouapurouchikara Kaikei Wo Rikaisi, Tougousuru Shian” [Contract-Based Theory Of The Firm And Alternative Forms Of Accounting: Classical, Stewardship And Market Perspectives], Shyam Sunder, Hidetoshi Yamaji Dec 1995

Keiyakurironteki Kigyoukan To Daitaitei Kaikeikan: Kontenteki, Kantenkara, Jutakusekininjou No Kentenkara, Oyobi Sijouapurouchikara Kaikei Wo Rikaisi, Tougousuru Shian” [Contract-Based Theory Of The Firm And Alternative Forms Of Accounting: Classical, Stewardship And Market Perspectives], Shyam Sunder, Hidetoshi Yamaji

Shyam Sunder

No abstract provided.

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Kigyou Kaikei No Keizaigakuteki Bunseki” [Economic Analysis Of Business Accounting], Shyam Sunder, Hidetoshi Yamaji Dec 1995

Kigyou Kaikei No Keizaigakuteki Bunseki” [Economic Analysis Of Business Accounting], Shyam Sunder, Hidetoshi Yamaji

Shyam Sunder

No abstract provided.

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.A Statement On The State Of Academic Accounting, J Demski, N. Dopuch, B. Lev, J. Ronen, G. Searfoss, Shyam Sunder Apr 1991

.A Statement On The State Of Academic Accounting, J Demski, N. Dopuch, B. Lev, J. Ronen, G. Searfoss, Shyam Sunder

Shyam Sunder

A Statement on the State of Academic Accounting

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