611
Views
13
CrossRef citations to date
0
Altmetric
Original Articles

Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

Pages 248-260 | Received 12 Feb 2018, Accepted 12 Aug 2018, Published online: 18 Feb 2019

References

  • M.AgliettaA.RebériouxCorporate governance adrift: A critique of shareholder valueThe Saint-Gobain centre for economic studies series2005Edward ElgarCheltenham, UK
  • M.AlbertCapitalism against capitalism1993WhurrLondon, UK
  • I.AlvarezFinancialization, non-financial corporations and income inequality: The case of FranceSocio-Economic Review1332015449475
  • E.AmirG.YanlingD.OswaldThe effect of pension accounting on corporate pension asset allocationReview of Accounting Studies1522010
  • T.AnderssonC.HaslamE.LeeN.TsitsianisFinancialization directing strategyAccounting Forum3242008261275
  • T.AnderssonE.LeeG.TheodosopoulosY.P.YinC.HaslamAccounting for the financialized UK and US national business modelCritical Perspectives on Accounting25120147891
  • L.AndorBuilding a social market economy in the European Union2011European Commission Press Releases Database Speech/11/965
  • J.AskerJ.Farre-MensaA.LjungqvistCorporate investment and stock market listing: A puzzle?The Review of Financial Studies2822015342390
  • J.AsparaK.PajunenH.TikkanenR.TainioExplaining corporate short-termism: Self-reinforcing processes and biases among investors, the media and corporate managersSocio-Economic Review1242014667693
  • R.BakerE.BarbuTrends in research on international accounting harmonizationThe International Journal of Accounting4232007272304
  • A.BallA.HaldaneDoes the usage of fair values increase systemic risks?G.LivneG.MarkarianThe routledge companion to fair value in accounting2018RoutledgeNew York, USA
  • Bank of ItalyAnnual report2017http://www.bancaditalia.it
  • E.BaroneB.GullkvistInteraction of IFRS 9 and long-term investment decisionsAcademic literature review2018EFRAGBrussels, Belgium
  • M.E.BarthFair values and financial statement volatilityC.BorioThe market discipline across countries and industries2004MIT PressCambridge, Massachusetts
  • C.BarthelmeV.K.ParaskeviT.SellhornThe impact of accounting standards on pension investment decisionsEuropean Accounting Review2018133 online
  • F.BassaniniE.ReviglioLong-term investments in Europe from the financial crisis to the Juncker PlanP.GaronnaE.ReviglioInvesting in long-term Europe. Re-launching fixed, network and social infrastructure2015Luiss University PressRoma
  • E.BengtssonRepoliticalization of accounting standard setting—The IASB, the EU and the global financial crisisCritical Perspectives on Accounting2262011567580
  • G.J.BenstonFair-value accounting: A cautionary tale from EnronJournal of Accounting and Public Policy2542006465484
  • G.J.BenstonThe shortcomings of fair-value accounting described in SFAS 157Journal of Accounting and Public Policy2722008101114
  • Y.BiondiThe Pure logic of accounting: A critique of the fair value revolutionAccounting Economics and Law112011149
  • Y.BiondiP.GiannoccoloShare price formation, market exuberance and financial stability under alternative accounting regimesJournal of Economic Interaction and Coordination1022015333362
  • A.BörschGlobalisation, shareholder value, restructuring: The (non)-transformation of SiemensNew Political Economy932004365387
  • S.BotzemTransnational expert-driven standardisation– Accountancy governance from a professional point of viewJ.C.GrazA.NölkeTransnational private governance and its limits2008RoutledgeLondon, UK
  • R.BoyerAssessing the impact of fair value upon financial crisesSocio-Economic Review542007779807
  • Bruntland ReportReport of the world commission on environment and development: Our common future Available at1987http://www.un-documents.net/our-common-future.pdf
  • R.A.BryerMarx and accountingCritical Perspectives on Accounting101999683709
  • J.L.CallenA selective critical review of financial accounting researchCritical Perspectives on Accounting262015157167
  • J.CarneiroL.L.RodriguesR.CraigAssessing international accounting harmonization in Latin AmericaAccounting Forum4132017172184
  • M.CarneyBreaking the tragedy of the horizon– Climate change and financial stability, speech at Lloyd’s of London 29 September. Available at2015https://www.bis.org/review/r151009a.pdf
  • P.CasabonaV.ShoafFair value accounting and the credit crisisReview of Business30220101930
  • E.ChiapelloK.MedjadAn unprecedented privatisation of mandatory standard-setting: The case of European accounting policyCritical Perspectives on Accounting2042009448468
  • S.ClaessensK.UedaBanks and labor as stakeholders: Impact on economic performanceWorking Paper IMF 08/2292008
  • C.CooperAccounting for the fictitious: A marxist contribution to understanding accounting’s roles in the financial crisisCritical Perspectives on Accounting3020156382
  • D.J.CooperM.J.ShererThe value of corporate accounting reports: Arguments for a political economy of accountingAccounting Organizations and Society93–41984207232
  • P.D.CulpepperInstitutional change in contemporary capitalism: Coordinated financial systems since 1990World Politics572005173199
  • R.DaviesA.G.HaldaneM.NielsenS.PezziniMeasuring the costs of short-termismJournal of Financial Stability1220141625
  • P.De JagerFair value accounting, fragile bank balance sheets and crisis: A modelAccounting Organizations and Society392201497116
  • R.DeegI.HardieWhat is patient capital and who supplies it?Socio-Economic Review1442016627645
  • M.DraghiReviving the spirit of De Gasperi: Working together for an effective and inclusing Union2016https://www.ecb.europa.eu/press/key/date/sp160913.en.html
  • G.DuménilD.LévyCapital resurgent2004Harvard University PressCambridge, Massachusetts
  • J.R.EdwardsA history of financial accounting1989RoutledgeLondon/New York
  • A.EnriaL.CappielloF.DierickS.GrittiniA.HaralambousA.MaddaloniFair value accounting and financial stabilityOccasional paper No. 13, 13 April2004European Central Bank
  • ERABThe renaissance: Will it happen? Innovating Europe out of the crisis. Third and final report of the European Research Area Board Available at2012European Commission – DG Research and InnovationBrusselshttps://ec.europa.eu/research/erab/pdf/3rd-erab-final-report_en.pdf
  • Eur-LexEuropean Union hierarchy of norms Available at2018https://eur-lex.europa.eu/summary/glossary/norms_hierarchy.html
  • European CommissionEurope 2020, a strategy for smart, sustainable and inclusive growth. COM(2010) 2020 Available at2010https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2010:2020:FIN:EN:PDF
  • European CommissionMemo on “Green paper on long-term financing of the European economy” IP/13/2742013
  • European CommissionHorizon 2020 in brief. The EU framework programme for research & innovation Available at2014http://ec.europa.eu/programmes/horizon2020/en/news/horizon-2020-brief-eu-framework-programme-research-innovation
  • European CommissionGreen paper: Building a capital markets union Available at2015COM63http://ec.europa.eu/finance/consultations/2015/capital-markets-union/docs/green-paper_en.pdf
  • European CommissionProposal for a regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable development Final. Available at2018COM353https://ec.europa.eu/transparency/regdoc/rep/1/2018/EN/COM-2018-353-F1-EN-MAIN-PART-1.PDF
  • European CommissionThe European commission action plan: Financing sustainable growth. Version 2, published July 2018 Available at2018https://www.unpri.org/download?ac=5173
  • European CommissionRequest for technical advice on possible alternative accounting treatments to fair value measurements for long-term investment portfolios of equity and equity type instruments. June 2018. FISMA B3/EVDP/fv/Ares (2018)3110211 Available at2018https://www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FMeeting%20Documents%2F1709060814205911%2F02-02a%20Original%20EC%20request%20for%20background%20purposes%20-%20TEG%2018-07-05.pdf
  • European ParliamentReport on International Accounting Standards (IAS) evaluation and the activities of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG) and the Public Interest Oversight Board (PIOB)2016http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//TEXT+REPORT+A8-2016-0172+0+DOC+XML+V0//EN&language=en
  • L.FauverM.FuerstDoes good corporate governance include employee representation? Evidence from German corporate boardsJournal of Financial Economics8232006673710
  • P.FerracciIFRS and the works council in FranceD.BensadonN.PraquinIFRS in a global world2016SpringerBasel, Switzerland
  • P.FiechterReclassification of financial assets under IAS 39: Impact on European banks’ financial statementsAccounting in Europe8120114967
  • P.FissE.ZajacThe diffusion of ideas over contested terrain: The (non) adoption of a shareholder value orientation among German firmsAdministrative Science Quarterly4942004501534
  • J.FroudC.HaslamJ.SukhdevK.WilliamsShareholder value and financialization: Consultancy promises, management movesEconomy and Society291200080110
  • J.K.GalbraithHistory of economics. The past as the present1988H. HamiltonLondon
  • S.GallhoferJ.HaslamExploring social, political and economic dimensions of accounting in the global context: The International Accounting Standards Board and accounting disaggregationSocio-Economic Review542007633664
  • P.GaronnaE.ReviglioIntroductionP.GaronnaE.ReviglioInvesting in long-term Europe. Re-launching fixed, network and social infrastructure2015Luiss University PressRome, Italy
  • J.P.GauzèsAssessing the wider impact of financial reporting standardsKeynote speech at the 40th European accounting association congress2017 Avaiable athttp://2017.eaacongress.org/r/Keynote_Speech
  • T.A.GilliamR.K.HofmannBank risk management-and fair value accountingG.LivneG.MarkarianThe Routledge companion to fair value in accounting2018RoutledgeNew York, USA
  • E.GinglingerW.MegginsonT.WaxinEmployee ownership, board representation, and corporate financial policies. Working paper2009University of Oklahoma
  • R.GoodlandSustainability: Human, social, economic and environmental. Encyclopedia of global environmental change2002John Wiley & SonHobeken, New Jersey
  • S.GottschalkM.NiefertG.LichtS.C.WagnerDie volkswirtschaftliche Bedeutung der Familienunternehmen2014Stiftung Familienunternehmen.Munich
  • J.R.GrahamC.R.HarveyS.RajgopalThe economic implications of corporate financial reportingJournal of Accounting and Economics4012005373
  • R.GrayIs accounting for sustainability actually accounting for sustainability…and how would we know? An exploration of narratives of organisations and the planetAccounting Organizations and Society35120104762
  • P.A.HallD.SoskiceVarieties of capitalism2001Oxford University PressOxford, UK
  • C.HaslamN.TsitsianisR.HoinaruT.AnderssonG.KatechosStress testing International Financial Reporting Standards (IFRS): Accounting for stability and the public good in a financialized worldAccounting Economics and Law2201596118
  • E.HeinD.DetzerN.DodigFinancialisation and the financial and economic crises. Country studies2016Berlin School of Economics and LawGermany
  • HLEGEU high-level expert group on sustainable finance. Financing a sustainable european economy. Final report2018
  • S.HoffmanD.DetzenThe regulation of asset valuation in GermanyAccounting History1832013367389
  • A.G.HopwoodThe economic crisis and accounting: Implications for the research communityAccounting Organizations and Society346–72009797802
  • IASBConceptual framework for financial reporting2010
  • IASBConceptual framework for financial reporting. Exposure draft 2015/32015
  • H.IrvineThe global institutionalization of financial reporting: The case of the United Arab EmiratesAccounting Forum3222008125142
  • N.JarolimC.ÖppingerFair value accounting in times of financial crisisACRN Journal of Finance and Risk Perspectives1120126790
  • J.JürgensK.NaumannJ.RuppShareholder value in an adverse environment: The German caseEconomy and Society29120005479
  • J.KädtlerFinanzmärkte und finanzialisierungF.BöhleG.VoßG.WachtlerHandbuch Arbeitssoziologie2010Verlag für SozialwissenschaftenWiesbaden619639
  • M.KahnConcepts, definitions, and key issues in sustainable development: The outlook for the futureProceedings of the 1995 international sustainable development research conference1995213 Keynote Paper
  • J.KayThe Kay review of equity markets and long-term decision making. Final Report, July 2012 Available at2012https://www.gov.uk/government/consultations/the-kay-review-of-uk-equity-markets-and-long-term-decision-making
  • D.KerwerHow accountable is the ‘International Accounting Standards Board’?6th SGIR pan-European conference in international relations2007
  • KPMGEuropean family business barometer Available at2018https://home.kpmg.com/xx/en/home/insights/2017/11/european-family-business-barometer-confidence-in-unity-sixth-edition.html
  • G.LambertonSustainability accounting—A brief history and conceptual frameworkAccounting Forum1292005726
  • W.LazonickM.MazzucatoO.TulumApple’s changing business model: What should the world’s richest company do with all those profits?Accounting Forum372013249267
  • M.LehrerS.CeloGerman family capitalism in the 21st century: Patient capital between bifurcation and symbiosisSocio-Economic Review1442016729750
  • B.LevF.GuThe end of accounting and the path forward for investors and managers2016John Wiley & SonHobeken, New Jersey
  • K.H.LinD.Tomaskovic-DeveyFinancialization and US income inequality, 1970–2008The American Journal of Sociology1185201312841329
  • J.LipskyThe financial system we need. Aligning the financial system with sustainable development. The UNEP inquiry report, October Available at2015http://unepinquiry.org/wp-content/uploads/2015/11/The_Financial_System_We_Need_EN.pdf
  • Lisbon TreatyTreaty amending the treaty on European Union and the treaty establishing the European community2007
  • G.T.LumpkinK.H.BrighamT.MossLong-term orientation: Implications for the entrepreneurial orientation and performance of family businessesEntrepreneurship and Regional Development2232010241264
  • D.MacKenzieAn engine, not a camera. How financial models shape markets2008MIT PressCambridge, Massachusetts
  • M.MagnanFair value accounting and the financial crisis: Messenger or contributor?Accounting Perspectives832009189213
  • R.MainoV.PaleaPrivate equity fair value measurement: A critical perspective on IFRS 13Australian Accounting Review2332013264278
  • K.MarxCapital: A critique of political economyVol. 21978Penguin BooksHarmondsworth, UK
  • P.MaystadtShould IFRS standards be more “European”? Mission to reinforce the EU’s contribution to the development of international accounting standards. Report to the European Commission Available at2013http://ec.europa.eu/internal_market/accounting/docs/governance/reform/131112_report_en.pdf
  • P.MazzolaM.De BuglioFair value accounting and family firmsG.LivneG.MarkarianThe routledge companion to fair value in accounting2018RoutledgeNew York, USA
  • M.MazzucatoInnovation systems: From fixing market failures to creating marketsIntereconomics5032015120125
  • M.MazzucatoThe value of everything. Making and taking in the global economy2018Allen LaneLondon, UK
  • S.McKenzieSocial sustainability: Towards some definitions. Hawke Research Institute working paper series2004University of South AustraliaMagill, South Australia
  • D.MillerI.Le Breton-MillerManaging for the long run2005Harvard Business School PressBoston, Massachusetts
  • J.MüllerAn accounting revolution? The financialisation of standard settingCritical Perspectives on Accounting252014539557
  • A.Müller-ArmackWirtschaftsordnung und wirtschaftspolitik. Studien und konzepte zur sozialen marktwirtschaft und zur europäischen integration1966Beiträge zur Wirtschaftspolitik4
  • S.MuresanSocial market economy. The case of Germany2014SpringerBasel, Switzerland
  • S.NewbertJ.B.CraigMoving beyond socioemotional wealth: Toward a normative theory of decision making in family businessFamily Business Review3042017339346
  • C.NoëlA.G.AyayiV.BlumThe European Union’s accounting policy analyzed from an ethical perspective: The case of petroleum resources, prospecting and evaluationCritical Perspectives on Accounting2142010329341
  • A.NölkeJ.PerryThe power of transnational private governance: Financialization and the IASBBusiness and Politics932007125
  • A.NovoaJ.ScarlataJ.SoléProcyclicality and fair value accounting2009Working paper International Monetary Fund
  • OECD ForumIncome inequality in figures Available at2015http://www.oecd.org/forum/issues/oecd-forum-2015-income-inequality-in-figures.htm
  • O.OnaranE.StockhammerL.GraflFinancialisation, income distribution and aggregate demand in the USACambridge Journal of Economics3542011637661
  • Ö.OrhangaziFinancialisation and capital accumulation in the non-financial corporate sector: A theoretical and empirical investigation on the US economy: 1973–2003Cambridge Journal of Economics322008863886
  • T.PageA European industrial policy for the new global economyIntereconomics5032015152155
  • V.PaleaFinancial reporting under IAS/IFRS2013Peter LangBern, Switzerland
  • V.PaleaThe political economy of fair value reporting and the governance of the standards-setting process: Critical issues and pitfalls from a European perspectiveCritical Perspectives on Accounting2920151115
  • V.PaleaWhither accounting research? A European viewCritical Perspectives on Accounting4220175973
  • W.A.PatonA.LittletonAn introduction to corporate accounting standards1957American Accounting AssociationChicago, Illinois
  • S.H.PenmanFinancial reporting quality: Is fair value plus or minus?Accounting and Business Research37120073344
  • J.PerryA.NölkeThe political economy of international accounting standardsReview of International Political Economy1342006559586
  • A.D.PersaudRegulation, valuation and systemic liquidity. Banque de FranceFinancial Stability Review1220087583
  • M.PiantaWhat is to be produced? The case for industrial policyIntereconomics5032015139145
  • PitecoPiteco anticipates the adoption of IAS/IFRS standards for 2015 financial results. It is the first step in the process of compliance with the MTA market procedures. Press release, September 152015
  • G.PlantinH.SapraS.S.HyunMarking-to-market: Panacea or Pandora’s boxJournal of Accounting Research4622008435460
  • M.E.PorterM.R.KramerCreating shared value. How to reinvent capitalism-and unleash a wave of innovation and growthHarvard Business ReviewJanuary–February2011
  • K.RamannaPolitical standards2015University of Chicago PressChicago, Illinois
  • J.RichardCompatibilité et développement durable2012EconomicaParis, France
  • O.RieckersG.SpindlerCorporate governance: Legal aspectsJ.KrahnenR.SchmidtThe German financial system2004Oxford University PressOxford, UK
  • M.J.RoeCapital markets and financial politics: Preferences and institutionsCapitalism and Society712012111
  • J.RonenOn the invariance of accounting principles to business models: A discussion of the Singleton – Green and PageJournal of Management and Governance182014707716
  • R.SchmidtCorporate governance in Germany: An economic perspectiveJ.KrahnenR.SchmidtThe German financial system2004Oxford University PressOxford, UK
  • C.SchwarzP.KarakitsosN.MerrimanW.StudenerWhy accounting matters: A Central Bank perspectiveAccounting Economics and Law512015142
  • C.SerfatiDie finanz-und rentengetriebene Logik der multinationalen UnternehmenProkla4242012531556
  • A.ShipmanCapitalism without capital. Accounting for the crash2015Palgrave MacmillanUK
  • P.SikkaThe hand of accounting and accountancy firms in deepening income and wealth inequalities and the economic crisis: Some evidenceCritical Perspectives on Accounting3020154662
  • V.ŠmejkalCompetition law and the social market economy goal of the EUInternational Comparative Jurisprudence120153343
  • J.SollThe reckoning. Financial accountability and the rise and fall of nations2015Basic BooksNew York
  • M.SpickaSelling the economic miracle: Reconstruction and politics in West Germany, 1949–19572007Berghahn BooksNew York and Oxford
  • Structural Business Statistics Overview, 2018. Available at http://ec.europa.eu/eurostat/statistics-explained/index.php/Structural_business_statistics_overview.
  • Treaty on the European Union, 2007. Available at https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A12012M%2FTXT.
  • Treaty on the functioning of the European Union, 2007. Available at https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A12012E%2FTXT.
  • UNEPThe financial system we need. Aligning the financial system with sustainable development Available at2015http://unepinquiry.org/wp-content/uploads/2015/11/The_Financial_System_We_Need_EN.pdf
  • J.UnermanC.ChapmanAcademic contributions to enhancing accounting for sustainable developmentAccounting Organizations and Society392014385394
  • C.Van MourikThe equity theories and the IASB conceptual frameworkAccounting in Europe1122014219233
  • D.VeloQuale Europa. Il Modello Sociale Europeo nella Storia Contemporanea2018Cacucci EditoreBari, Italy
  • M.von HauffFrom a social to a sustainable market economy. A new paradigm for the 21st century2009Stiftung Entwicklung und FriedenBonn, Germany
  • M.WalkerAccounting for varieties of capitalism: The case against a single set of global accounting standardsThe British Accounting Review422010137152
  • R.WalzGreen industrial policy in EuropeIntereconomics5032015145152
  • G.WhittingtonFair value and the IASB/FASB conceptual framework project: A different viewAbacus4422008139168
  • F.WidmerInstitutional investors, corporate elites and the building of a market for corporate controlSocio-Economic Review942011671697
  • B.R.WilkinsonC.H.DurdenInducing structural change in academic accounting researchCritical Perspectives on Accounting2620152336
  • M.A.WittL.R.Kabbach de CastroK.AmaeshiS.MahroumD.BohleL.SaezMapping the business systems of 61 major economies: A taxonomy and implications for varieties of capitalism and business systems researchSocio-Economic Review1612018538
  • Y.ZhangJ.AndrewFinancialisation and the conceptual frameworkCritical Perspectives on Accounting25120141726

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.