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Political Standards
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Political Standards: Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy

Karthik Ramanna

Abstract

There are certain institutions underlying our modern market-capitalist system that are largely outside the interest and understanding of the general public – e.g., rulemaking for bank capital adequacy, actuarial standards, accounting standards, and auditing practice. In these areas, corporate managers and financial experts such as auditors and bankers possess the technical expertise necessary for informed regulation, enjoy strong economic interests in the outcome, and face little resistance to their lobbying activities from the general public. These areas are known as “thin political markets” ... More

Keywords: accounting, business and society, financial institutions, financial regulation, GAAP, IFRS, leadership, lobbying, market capitalism, sustainability

Bibliographic Information

Print publication date: 2015 Print ISBN-13: 9780226210742
Published to University Press Scholarship Online: May 2016 DOI:10.7208/chicago/9780226210889.001.0001

Authors

Affiliations are at time of print publication.

Karthik Ramanna, author
Harvard University