scholarly journals The Role and Impact of International Financial Reporting Standards on Cross-Border Financing for a Systemically Important Bank from Macroeconomic Perspectives—Technical Review Research Study

2020 ◽  
Vol 2 (3) ◽  
pp. p74
Author(s):  
Karina Kasztelnik Ph.D. MBA, CPA, CTP
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Stock Exchange ◽  
The United States ◽  
Research Review ◽  
Accounting Disclosure ◽  
Financial Reporting Standards ◽  
Foreign Companies ◽  
The World ◽  
The U.S

The author of the study note that the extensiveness of a country’s international accounting disclosure requirements is a good for the overall disclosure extensiveness of the exchange in that foreign country, which, in turn, is bigly correlated with the cost of listing such as United States, Canada, United Kingdom, The Netherlands, France, Japan, and Germany. The United States and the national over-the-counter market have enjoyed significant growth in foreign listing. In absolute terms, the U.S. numbers are even more impressive. As of December 2019, the 1,420 foreign companies whose shares are traded in the United States reparent the largest amount of foreign listings of any major stock exchange in the world., which reflects, at least in part, recognition by multinational entities that the U.S. securities market represents the most efficient market in the world, thus translating into a lower cost of capital for issuer of securities. This technical research review article may support both the public trade companies and policymakers around the World.

Beijing Biotechnology Company: Financial Reporting Issues of Expansion to the West

2007 ◽  
Vol 22 (4) ◽  
pp. 675-684
Author(s):  
Bruce J. McConomy ◽  
Bixia Xu
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Stock Exchange ◽  
The United States ◽  
Biotechnology Industry ◽  
International Perspective ◽  
Biotechnology Company ◽  
The West ◽  
Biotechnology Firms ◽  
The World

The biotechnology industry has been rapidly expanding both in the United States and around the world. For example, there are approximately 1500 biotechnology firms in the United States with over 300 that are publicly held (http://www.org.). This case examines the biotechnology industry from an international perspective. Beijing Biotechnology Company (BBC) is a medium-sized biotech company that operates in China. It plans to expand via a stock listing on a Western stock exchange such as NASDAQ. The case examines the issues facing BBC as it seeks a Western-based stock listing.

scholarly journals Non-Financial Reporting & Corporate Governance: Explaining American Divergence & Its Implications for Disclosure Reform

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Virginia Harper Ho
Keyword(s):  
United States ◽  
Sustainable Development ◽  
Financial Reporting ◽  
Institutional Context ◽  
The United States ◽  
Financial Disclosure ◽  
The World ◽  
Sustainable Finance ◽  
Market Driven ◽  
The U.S

AbstractNon-financial reporting reforms have moved ahead around the world as governments work to advance sustainable development and improve environmental, social, and governance (“ESG”) risk management by firms and investors In the United States, however, non-financial reporting reforms face resistance and have lagged behind. This article offers an overview of the state of non-financial reporting in the U.S. and explains why the U.S. approach still diverges so visibly from the reform path adopted by other governments around the world. It then suggests potential directions for non-financial disclosure reform that take account of the U.S. institutional context. The article concludes by considering the implications of the United States’ market-driven approach for non-financial reporting reform and for the future of sustainable finance more broadly.

scholarly journals THE FUTURE OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE UNITED STATES: CONSIDERATIONS ON THE CRITICAL QUESTION

2019 ◽  
Vol 34 (1) ◽  
pp. 37-48
Author(s):  
Hristina Oreshkova
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Accounting Standards ◽  
The United States ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Critical Question ◽  
Financial Reporting Standards ◽  
The U.S ◽  
Strategic Goal

In the present article a subject matter that has attracted great interest over the recent decades is discussed. The critical question of the likelihood of adopting the International Financial Reporting Standards in the United States has raised a lot of debates around the world. The problem has been the focus of long-lasting and profound deliberations among both scientific and professional community.Our research found out that the strategic goal of reaching one single set of global accounting standards through the project of convergence developed by the most influential Boards in the world – the International Accounting Standards Board located in London with second headquarters in Tokyo, and the U.S. Financial Accounting Standards Board has not been achieved. It is appropriate to emphasize that the realisation of the convergence project began in 2002 as a result of the Norwalk agreement achieved in September 2002, Norwalk, Connecticut, USA. However, it is increasingly recognized that the era of convergence is coming to an end.Prominent scholars argue that the strategic goal turned out to be neither practical nor achievable in the foreseeable future. For the time being the authorized American institutions do not intend to fully adopt the International Financial Reporting Standards as issued by the IASB into the U.S. financial reporting system. Moreover the authoritative organizations in the United States attempt to continue keeping in line with specifics of the U.S. business environment. It is assumed that the Securities and Exchange Commission will never perhaps risk causing a political storm by yielding the control on its accounting to an institution outside the USA.An essential reason that causes inconveniences in the implementation of the IASB’s accounting standards and the principles is that the accounting standards interact in different ways with national laws, social and ethic codes, domestic fiscal rules and guidelines, and that is unavoidable. However, in each state and jurisdiction the interaction has its essentials and specifics. Complications may arise out of the local tradition, culture and historical continuity in performing accounting as a practice as well as by the legal doctrine and the degree of their interrelation. No less important are the essence and peculiarities of the national legal and accounting system, the extent of cultural impacts on the contemporary development of accounting as well as the principles on the basis of which the systems of state authority are established, interact and function.

THE INFLUENCE OF SCOTTISH ACCOUNTANTS IN THE UNITED STATES: THE EARLY CASE OF THE SOCIETY OF ACCOUNTANTS IN EDINBURGH

1997 ◽  
Vol 24 (1) ◽  
pp. 117-141 ◽  
Author(s):  
T. A. LEE
Keyword(s):  
United States ◽  
General Theory ◽  
Research Program ◽  
The United States ◽  
The World ◽  
Early Case ◽  
The Impact ◽  
Chartered Accountants ◽  
The U.S

This study represents part of a long-term research program to investigate the influence of U.K. accountants on the development of professional accountancy in other parts of the world. It examines the impact of a small group of Scottish chartered accountants who emigrated to the U.S. in the late 1800s and early 1900s. Set against a general theory of emigration, the study's main results reveal the significant involvement of this group in the founding and development of U.S. accountancy. The influence is predominantly with respect to public accountancy and its main institutional organizations. Several of the individuals achieved considerable eminence in U.S. public accountancy.

scholarly journals Earnings management to avoid earnings decreases and losses

2021 ◽  
Vol 20 ◽  
pp. e3153
Author(s):  
Verônica de Fátima Santana ◽  
Raquel Wille Sarquis
Keyword(s):  
United States ◽  
Earnings Management ◽  
Financial Reporting ◽  
Reporting Standards ◽  
Working Capital ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Geographical Regions ◽  
The World ◽  
Before And After

This study evaluates the prevalence of earnings management to avoid losses and earnings decreases across the World. This practice was first documented by Burgstahler and Dichev (1997) for United States firms from 1976 to 1987. We replicate their study for a more recent and global sample. Firms that do not seem to manage earnings do avoid reporting earnings decreases, but we found persistent evidence of earnings management to avoid reporting losses. The results are consistent across different geographical regions, countries, and before and after International Financial Reporting Standards (IFRS) adoption. Unlike Burgstahler and Dichev (1997), however, we were not able to find evidence on which components of earnings (cash flow from operations, changes in working capital, or other accruals) firms mainly manage to increase earnings, concluding they likely use a bundle of all these components. Our results are important mainly to financial analysts and general investors, who should be careful in giving good prospects to firms who presented small profits since they are likely small losses artificially managed to look better, a practice widely spread across time and geographical regions among IFRS adopters and non-adopters.

scholarly journals “Shale Revolution” in the United States as the Main Driver of the World Oil Market Transformation

2019 ◽  
Vol 12 (6) ◽  
pp. 71-93
Author(s):  
S. A. Zolina ◽  
I. A. Kopytin ◽  
O. B. Reznikova
Keyword(s):  
United States ◽  
Crude Oil ◽  
Oil Production ◽  
The United States ◽  
Oil Price ◽  
Oil Market ◽  
Oil Exports ◽  
The World ◽  
Oil Sector ◽  
The U.S

In 2018 the United States surpassed Saudi Arabia and Russia to become the largest world oil producer. The article focuses on the mechanisms through which the American shale revolution increasingly impacts functioning of the world oil market. The authors show that this impact is translated to the world oil market mainly through the trade and price channels. Lifting the ban on crude oil exports in December 2015 allowed the United States to increase rapidly supply of crude oil to the world oil market, the country’s share in the world crude oil exports reached 4,4% in 2018 and continues to rise. The U.S. share in the world petroleum products exports, on which the American oil sector places the main stake, reached 18%. In parallel with increasing oil production the U.S. considerably shrank crude oil import that forced many oil exporters to reorient to other markets. Due to high elasticity of tight oil production to the oil price increases oil from the U.S. has started to constrain the world oil price from above. According to the majority of authoritative forecasts, oil production in the U.S. will continue to increase at least until 2025. Since 2017 the tendency to the increasing expansion of supermajors into American unconventional oil sector has become noticeable, what will contribute to further strengthening of the U.S. position in the world oil market and accelerate its restructuring.  

International trade protectionist policies and in-state preferences: A link

2017 ◽  
Vol 17 (1) ◽  
pp. 31-52 ◽  
Author(s):  
Sawsan Abutabenjeh ◽  
Stephen B. Gordon ◽  
Berhanu Mengistu
Keyword(s):  
United States ◽  
Public Policy ◽  
International Trade ◽  
Policy Instruments ◽  
The United States ◽  
Policy Outcomes ◽  
The World ◽  
State Preference ◽  
Public Policy Instruments ◽  
The U.S

By implementing various forms of preference policies, countries around the world intervene in their economies for their own political and economic purposes. Likewise, twenty-five states in the U.S. have implemented in-state preference policies (NASPO, 2012) to protect and support their own vendors from out-of-state competition to achieve similar purposes. The purpose of this paper is to show the connection between protectionist public policy instruments noted in the international trade literature and the in-state preference policies within the United States. This paper argues that the reasons and the rationales for adopting these preference policies in international trade and the states' contexts are similar. Given the similarity in policy outcomes, the paper further argues that the international trade literature provides an overarching explanation to help understand what states could expect in applying in-state preference policies.

African Cinema in the American Video Market

1992 ◽  
Vol 20 (2) ◽  
pp. 38-41
Author(s):  
Cornelius Moore
Keyword(s):  
United States ◽  
The United States ◽  
Feature Film ◽  
African Cinema ◽  
The World ◽  
Film Market ◽  
The U.S

There are probably a billion videocassettes in the United States. Yet few, probably under a thousand, are African films. I want to ask why this is and describe a strategy to change it.How can one of the least known and most under-funded cinemas in the world, African cinema, find a place in the most lavishly promoted and capitalized media marketplaces on earth, the U.S. feature film market?

America and Security Sponsorship

2014 ◽  
Author(s):  
Simon Reich ◽  
Richard Ned Lebow
Keyword(s):  
United States ◽  
Empirical Analysis ◽  
Drug Policy ◽  
North Korea ◽  
The United States ◽  
Military Assistance ◽  
Self Interest ◽  
The World ◽  
Global Norms ◽  
The U.S

This chapter draws on a conceptual and empirical analysis to rethink America's posthegemonic role in the world. While guided by self-interest, the chapter contends that the United States should pursue a strategy that helps to implement policies that are widely supported and are often mooted or initiated by others. It should generally refrain from attempting to set the agenda and lead in a traditional realist or liberal sense. Drawing on Simon Reich's work on global norms, the chapter looks at the success Washington has had in sponsoring—that is, in backing—initiatives originating elsewhere. It examines the successful provision of military assistance to NATO's campaign in Libya, which offers a stark contrast to the U.S. approach to Iraq. The chapter then offers counterfactual cases of U.S. drug policy in Mexico and efforts to keep North Korea from going nuclear.

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