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Transnational Business Governance Interactions And Financial Regulation Change: A Case Of Asian Financial Markets, Simin Gao, Christopher Chen
Transnational Business Governance Interactions And Financial Regulation Change: A Case Of Asian Financial Markets, Simin Gao, Christopher Chen
Transnational Business Governance Interactions Working Papers
This chapter examines the interactions of transnational business governance schemes regulating the global derivatives markets with multiple levels of interactions. The chapter describes the process of interactions via the theory of isomorphism. First, after examining the interactions of futures exchanges, we identify that governance techniques among futures exchanges are rather similar, illustrating the forces of mimetic and normative isomorphism. Second, the monopoly of the International Swaps and Derivatives Association (ISDA) scheme in the over-the-counter (OTC) market provides signs of mimetic isomorphism. Third, through imparity of market power and major market dealers, the ISDA scheme became the only governance scheme for …
The Evaluation Of The Implementation Of Fair Value Accounting: Impact On Financial Reporting, Karen Cascini, Alan Delfavero
The Evaluation Of The Implementation Of Fair Value Accounting: Impact On Financial Reporting, Karen Cascini, Alan Delfavero
WCBT Faculty Publications
The accounting industry is in a state of continuous change. In the United States, the historical cost principle has traditionally been the foundation of accounting. Until recently, assets and liabilities have been required to be recorded at their acquisition prices, with the exception of designated financial assets and financial liabilities. However, the Financial Accounting Standards Board (FASB) has now created accounting standards that are distant from the cost principle. Statement of Financial Accounting Standards No. 157: Fair Value Measurements, issued in September 2006 (FAS157, now codified as ASC 820) and Statement of Financial Accounting Standards No. 159: The Fair Value …