nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2013‒06‒04
nine papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Contribution à l'étude du pouvoir de la profession comptable dans la normalisation internationale. By Kahloul, Anouar
  2. Has German Business Income Taxation Raised too Little Revenue over the Last Decades? By Stefan Bach
  3. Tax Shelters or Efficient Tax Planning? A Theory of The Firm Perspective On the Economic Substance Doctrine By T. Christopher Borek; Angelo Frattarelli; Oliver Hart
  4. The R&D Tax Credit in France: Assessment and Ex-Ante Evaluation of the 2008 Reform By Benoît Mulkay; Jacques Mairesse
  5. Reform of the mortgage interest tax relief system, policy uncertainty and precautionary savings in the Netherlands By Mauro Mastrogiacomo
  6. "Lessons from the Cypriot Deposit Haircut for EU Deposit Insurance Schemes" By Jan Kregel
  7. Some international trends in the regulation of mortgage markets.Implications for Spain By Santiago Fernandez de Lis, Saifeddine Chaibi, Jose Felix Izquierdo, Felix Lores, Ana Rubio and Jaime Zurita; Saifeddine Chaibi; Jose Felix Izquierdo; Felix Lores; Ana Rubio; Jaime Zurita
  8. L’impact de l’endettement sur la profitabilité. Une étude empirique sur données françaises en panel By Kebewar, Mazen
  9. Inside innovation persistence: New evidence from Italian micro-data. By Antonelli,Cristiano; Crespi, Francesco; Scellato, Giuseppe

  1. By: Kahloul, Anouar
    Abstract: Cette recherche tente d’évaluer le pouvoir de la profession comptable dans le cadre de la normalisation internationale après la réforme des institutions en 2001. La normalisation comptable internationale, processus technique et politique, se prête à une étude à travers les relations de pouvoir. Une grille d’analyse théorique est construite sur la base du cadre du pouvoir de Lukes (1974, 2005). Elle est ensuite appliquée à l’étude du pouvoir de la profession comptable sur le normalisateur international, en privilégiant la première dimension de ce cadre, l’étude des conflits observables, et la troisième dimension, l’étude des conflits latents. La première dimension est opérationnalisée à travers l’étude du développement d’un projet particulier, la norme IFRS 3 « Regroupements d’entreprises ». Les résultats montrent que l’IASB n’a pas changé sa position sur les questions clés du projet malgré l’opposition des membres de la profession comptable. La troisième dimension est opérationnalisée par l’étude de la composition des principales instances du normalisateur international. L’étude des dispositions des statuts et l’analyse du profil effectif des normalisateurs permettent de mettre en évidence une présence renforcée des membres des grands cabinets d’audit. Les résultats de ces deux études sont enfin comparés, discutés et rapprochés
    Abstract: The aim of this research is to assess the power of the accounting profession on the international standard setting institutions after their reform in 2001. International accounting standard setting, technical and political process, can be studied through power relations. A theoretical framework is built on the basis of the theory of power of Lukes (1974, 2005). It is then applied to the study of the power of the accounting profession on the international standard-setter, focusing on the first dimension of the framework, the study of observable conflicts, and the third dimension, the study of latent conflicts. The application of the first dimension goes through the case-study of the development of IFRS 3 "Business Combinations". The results show that the IASB has not changed its position on the key issues of the project despite opposition from members of the accounting profession. The application of the third dimension goes through the study of the composition of the main bodies of the international standard-setter. The study of IFRS Foundation’s constitution and the analysis of the profile of the standard setters can highlight an increased presence of members of the large audit firms. The results of these two studies are finally compared, discussed and reconciled
    Keywords: Profession comptable; Normalisation comptable; IASB; Big Four; Accounting Standard Setting; Accounting profession;
    JEL: M41
    Date: 2012–11
  2. By: Stefan Bach
    Abstract: This study presents comprehensive macroeconomic measures on the revenue from business taxation in Germany. A comparison of the tax base reported in tax statistics with the corporate income derived from national accounts gives hints to considerable tax base erosion. The high weight of reported tax losses underlines this result. The average implicit tax rate on corporate income was around 21 percent since 2001, and thus falling considerably short of statutory tax rates and effective tax rates discussed in the literature. For lack of detailed accounting data it is hard to give precise reasons for the presumptive tax base erosion.
    Keywords: Business income taxation, implicit tax rates, tax base erosion
    JEL: H25 H26 H22
    Date: 2013
  3. By: T. Christopher Borek; Angelo Frattarelli; Oliver Hart
    Abstract: Courts have articulated a number of legal tests to distinguish corporate transactions that have a legitimate business or economic purpose from those carried out largely, if not solely, for favorable tax treatment. We outline an approach to analyzing the economic substance of corporate transactions based on the property rights theory of the firm, and describe its application in two recent tax cases.
    JEL: C24 D02 D23 G34 H25 K34
    Date: 2013–05
  4. By: Benoît Mulkay; Jacques Mairesse
    Abstract: This article presents an econometric analysis of the direct effects of the R&D tax credit (RTC) on private R&D in France and proposes an ex ante evaluation of the major reform implemented in 2008. We first estimate an error correction model of a dynamic R&D demand function on a large panel data of R&D doing firms, obtaining a preferred estimate of -0.4 for the long run elasticity of the user cost of R&D capital. We then perform a micro-simulation of the effects of the 2008 RTC reform that shows that the implicit long run budget multiplier would be about 0.7.
    JEL: H25 H32 O32
    Date: 2013–05
  5. By: Mauro Mastrogiacomo
    Abstract: We examined the mortgage interest tax relief (MIR) system in the Netherlands and reforms to this system, based on answers to direct questions in survey data for the period 2010-2012. As well as tracking individuals over time and at strategic moments in the process of the policy reform, this unique data set allowed us to isolate the effect of policy uncertainty on precautionary savings and, therefore, on consumption. We found that policy uncertainty alone could increase household buffers in the form of net worth. We estimate that this uncertainty ex ante induces households to increase their net worth by around 6% (EUR 8,000 on average). Although a MIR reform could mitigate this effect on accumulated savings, we also show that reforms that are not credible ex post could exacerbate rather than mitigate the effect on precautionary savings.
    Keywords: precautionary savings; income uncertainty; mortgage interest policy reform
    JEL: D12 D91 E21
    Date: 2013–05
  6. By: Jan Kregel
    Abstract: In March of this year, the government of Cyprus, in response to a banking crisis and as part of a negotiation to secure emergency financial support for its financial system from the European Union (EU) and International Monetary Fund (IMF), proposed the assessment of a tax on bank deposits, including a levy (later dropped from the final plan) on insured demand deposits below the 100,000 euro insurance threshold. An understanding of banks’ dual operations and of the relationship between two types of deposits—deposits of customers’ currency and coin, and deposit accounts created by bank loans—helps clarify some of the problems with the Cypriot deposit tax, while illuminating both the purposes and limitations of deposit insurance.
    Date: 2013–04
  7. By: Santiago Fernandez de Lis, Saifeddine Chaibi, Jose Felix Izquierdo, Felix Lores, Ana Rubio and Jaime Zurita; Saifeddine Chaibi; Jose Felix Izquierdo; Felix Lores; Ana Rubio; Jaime Zurita
    Abstract: In this document, the main characteristics of the mortgage markets regulation in developed countries will be analyzed, trying to extract implications in terms of the resilience of the different systems during this crisis. The note is organized in four sections, covering the most relevant issues of (i) the mortgage product, (ii) the financial entities that offer these products, (iii) the client to whom these products are sold and (iv) the relationship between mortgage regulation and macroprudential oversight.
    Keywords: mortgage, regulation, developed countries, loan-to-value, responsible lending, tax, covered bonds
    JEL: G21 R21 R31 E62
    Date: 2013–04
  8. By: Kebewar, Mazen
    Abstract: Cet article a pour objectif d’analyser l’effet de l’endettement sur la profitabilité. Cet effet peut être expliqué par trois théories essentielles: la théorie du signal, la théorie de l’agence et l’influence de la fiscalité. L’échantillon se compose d’un panel de 1078 entreprises françaises, non cotées, de type anonymes et de SARL, appartenant au secteur de la construction sur la période 1999-2006. Nous montrons, en utilisant la méthode des moments généralisée (MMG), que l’endettement affecte négativement la profitabilité, non seulement linéairement, mais aussi, de façon non linéaire (concave). Cependant, en détaillant l’analyse selon différentes classe de taille, nous constatons que l’effet négatif linéaire et l’effet non linéaire ne sont significatifs que dans les petites et moyennes entreprises (PME). -- This article aims to analyze the effect of debt on the profitability. This impact can be explained by three essential theories: signaling theory, the agency costs theory and tax theory. The sample consists of a panel of 1,078 French firms, unlisted, anonymous type and Limited Liability Company; belonging to the construction sector over the period 1999-2006. We show, by using the generalized method of moments (GMM), that the debt affects negatively the profitability, not only linearly, but also, in a non-linear (concave) way. However, by detailing the analysis according to different class of size, we find that the linear negative effect and the non-linear effect are significant only in small and medium-sized enterprises (SME).
    Keywords: Endettement,Profitabilité,Données de panel,GMM
    JEL: C33 G32 L25
    Date: 2012
  9. By: Antonelli,Cristiano; Crespi, Francesco; Scellato, Giuseppe (University of Turin)
    Abstract: This paper contributes the analysis of the persistence of innovation activities, as measured by different innovation indicators and explores its past and path dependent characteristics. The study provides new insights on the role of R&D investments in innovation persistence and analyses differentiated patterns of persistence across product and process innovation, by accounting for complementarity effects between the two types of innovative behaviour. The empirical analysis is based on a sample of 451 Italian manufacturing companies observed during the years 1998-2006, and exploits both descriptive techniques such as Transition Probability Matrix and econometric methods based on dynamic probit models. Results highlight the relevance of innovation persistence. The highest level of persistence is found for R&D-based innovation activities, witnessing the actual presence of significant entry and exit barriers. Moreover, we obtain more robust evidence of persistence for product innovation than for process innovation when complementarity effects between the two types of innovation are accounted for.
    Date: 2012–05

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