An analysis of the role of accounting standards for enhancing corporate governance and social responsibility

Accounting standards have been suggested as a means of requiring reporting by corporations that would enhance managers' concern for their shareholders and/or society. The analysis presented in this paper, however, leads to the conclusion that this role for accounting standards is not likely to be beneficial. The conclusion is based on the fact that the required measurements for useful standards cannot generally be made. This inherent limitation is absolute with respect to social responsibility concerns. With respect to corporate governance, accounting standards might be useful, primarily for reporting potentially fraudulent dealings and similar misuses of shareholder's assets by corporate managers. But even then, the cost of an accounting standard, ex ante, is likely to exceed its benefits to shareholders.     

The costs of complying with a government data collection program: the FTC's Line of Business Report

The Federal Trade Commission's Line of Business Report Program requires some 440 of the largest U.S. corporations to gather and report detailed data. The program's compliance costs were and are a major issue between the reluctant respondents and the FTC. Analysis of the estimates made by the parties reveals why and how a government agency tends to underestimate costs severely. Principally, the agency does not recognize that a company must prepare data that can withstand hostile scrutiny: inexpensively prepared estimates will not do. The analysis reveals that the estimates used by the FTC are based on very questionable procedures and evidence. A procedure is suggested to avoid or resolve differences in cost estimates claimed by the parties.     

本性的回归与自我救赎——罗彻斯特人物解读

罗彻斯特经历了两段婚姻,其性格先后反差强烈。他从虚伪、冷酷、目空一切逐渐转为重情重义、老成稳重、有所畏惧,他通过不断的自我救赎,最终完成了人性的回归,实现了重生。