scholarly journals The Standardisation of Natural Capital Accounting Methodologies

2020 ◽  
pp. 27-53
Author(s):  
Sylvain Maechler ◽  
Jean-Christophe Graz
Keyword(s):  
Political Economy ◽  
Power Relations ◽  
International Political Economy ◽  
Natural Capital ◽  
Accounting Standards ◽  
Ecological Crisis ◽  
Accounting Firms ◽  
Natural Capital Accounting ◽  
Technical Specifications ◽  
Big Four

The global ecological crisis has prompted the development of tools that try to redefine relations between business and nature, among them, natural capital accounting methodologies. The International Organization for Standardization (ISO) recently set standards on which these methodologies are based. Other actors, including the Big Four audit and accounting firms, developed their own methodologies outside the scope of ISO. This chapter examines why and how ISO developed natural capital accounting standards that are likely to compete with other methodologies. From the assumption that standards are not just technical, but also political instruments, it argues that they shape the future by creating power relations between actors within and outside ISO. The chapter suggests that these ISO standards aims at competing with first-movers' methodologies, in particular on the power implications resulting from transparency. It builds the argument on international political economy approaches to emphasise the link between technical specifications and power relations in contemporary capitalism.

Comparative analysis of capitalism from a regulationist perspective extended by neo-Gramscian IPE

2014 ◽  
Vol 38 (1) ◽  
pp. 31-43 ◽  
Author(s):  
Hans-Jürgen Bieling
Keyword(s):  
Political Economy ◽  
Comparative Analysis ◽  
Power Relations ◽  
International Political Economy ◽  
Current Form ◽  
International Networks ◽  
Methodological Nationalism ◽  
Current State ◽  
Analytical Perspective ◽  
Over Time

Over time, the comparative analysis of capitalism has moved beyond the strict confines of the narrow varieties of capitalism (VoC) framework. In this sense, it is possible to observe an emergent post-VoC discussion that goes beyond the static design and methodological nationalism that can be found in a strictly comparative and institutionalist account of capitalism. So far, however, the post-VoC discussion has been barely able to address important politico-economic and societal themes and issues. For the most part, assertions about time-diagnostic characterisations of the current state of capitalism, the causes and processes of specific crisis dynamics inherent to this current form of capitalism, and the asymmetrical forms of international networks or formative transnational power relations, remain weak or chaotic. In order to overcome these existing deficiencies, this paper argues from an analytical perspective that situates itself in regulation theory and allows itself to be characterised as an extended neo-Gramscian international political economy (IPE) approach.

scholarly journals The Relation between Initial Returns and Audits by the Big Four Accounting Firms

2017 ◽  
Vol 4 (4) ◽  
pp. 44
Author(s):  
Jen-Sin Lee ◽  
Yue Li ◽  
Xin Hu ◽  
Qi-An Lu
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Mainland China ◽  
Accounting Standards ◽  
International Standards ◽  
Sample Period ◽  
Accounting Firms ◽  
Turnover Ratio ◽  
Trading Volumes ◽  
Big Four

This paper mainly explores the relation between initial returns and audits by the big four accounting firms (the Big Four) in China. The sample period is from January 2007 to December 2012 (the new accounting standards in China is implemented after January 2007 for integrating with the international standards), and selected 1,069 IPO firms listed in the Shanghai Stock Exchange and Shenzhen Stock Exchange in this paper.Many previous studies have proposed the Informational Hypothesis, which states that the initial returns of IPOs being audited by the Big Four are lower than those IPOs being audited by other accounting firms. Oppositely, this paper proposes the Snap-up Hypothesis due to consider the IPOs in mainland China are characterized by “three lows,”: the low reliability of audits being performed by non-Big Four, low proportion of IPOs audits being performed by the Big Four, and low balling ratio. These “three lows” features indicate that the Snap-up Hypothesis applies in the IPOs market of mainland China. In other words, the initial returns of the IPOs being audited by the Big Four are higher than those IPOs being audited by other accounting firms due to the Big Four have the superior reputations.This paper further collects the trading volumes and the turnover ratio on the first day, and selects the Big Four audited IPOs by snap-up tide. As above mentioned, because the snap-up tide and raised stock prices on the first-day listing, investors may purchase the shares when offering and sell them on the first-day listing to obtain considerable profits.

Introduction to the Special Issue: The Globalization of Accounting Standards

2005 ◽  
Vol 7 (3) ◽  
pp. 1-7 ◽  
Author(s):  
Andreas Nolke
Keyword(s):  
International Political Economy ◽  
Accounting Standards ◽  
Major Change ◽  
Fair Value ◽  
Special Issue ◽  
Private Company ◽  
Accounting Firms ◽  
The Us ◽  
Policy Fields ◽  
Accounting Standard Setting

We are currently witnessing the evolution of global accounting standards, as developed by the International Accounting Standards Board (IASB). This is a remarkable development, not only because accounting standards are relevant for all business operations. Whereas accounting standard-setting has previously been a task of national authorities, the process will now be managed internationally by a London-based organisation whose parent foundation is a private company incorporated in the US state of Delaware and mainly financed by the Big Four accounting firms. Furthermore, the US appear to be willing to accept foreign standards that are quite different from their own Generally Accepted Accounting Standards (GAAP). This does not only contradict a widespread perception that equals globalization with Americanization, but also offers a remarkable contrast to US unilateralism in other policy fields. Finally, we are also amidst a major change in the substance of accounting standards, as indicated by a shift from historic cost to fair value accounting within the work of the IASB. This special issue of Business and Politics is devoted to a systematic explanation of these developments, drawing on concepts from International Relations, International Political Economy and Systems Theory.

Comparative Political Economy

2017 ◽  
Author(s):  
Georg Menz
Keyword(s):  
Political Economy ◽  
Political Institutions ◽  
International Political Economy ◽  
Adam Smith ◽  
Industrial Relations ◽  
Welfare States ◽  
Comparative Political Economy ◽  
Technological Parameters ◽  
Private Debt

This new and comprehensive volume invites the reader on a tour of the exciting subfield of comparative political economy. The book provides an in-depth account of the theoretical debates surrounding different models of capitalism. Tracing the origins of the field back to Adam Smith and the French Physiocrats, the development of the study of models of political-economic governance is laid out and reviewed. Comparative Political Economy (CPE) sets itself apart from International Political Economy (IPE), focusing on domestic economic and political institutions that compose in combination diverse models of political economy. Drawing on evidence from the US, the UK, France, Germany, Sweden, and Japan, the volume affords detailed coverage of the systems of industrial relations, finance, welfare states, and the economic role of the state. There is also a chapter that charts the politics of public and private debt. Much of the focus in CPE has rested on ideas, interests, and institutions, but the subfield ought to take the role of culture more seriously. This book offers suggestions for doing so. It is intended as an introduction to the field for postgraduate students, yet it also offers new insights and fresh inspiration for established scholars. The Varieties of Capitalism approach seems to have reached an impasse, but it could be rejuvenated by exploring the composite elements of different models and what makes them hang together. Rapidly changing technological parameters, new and more recent environmental challenges, demographic change, and immigration will all affect the governance of the various political economy models throughout the OECD. The final section of the book analyses how these impending challenges will reconfigure and threaten to destabilize established national systems of capitalism.

Patents and Development in the New Global Economy

2017 ◽  
Author(s):  
Kenneth C. Shadlen
Keyword(s):  
Political Economy ◽  
Case Studies ◽  
Global Economy ◽  
International Political Economy ◽  
World Order ◽  
Global Politics ◽  
Pharmaceutical Patents ◽  
Key Points ◽  
Comparative Case Studies ◽  
Privately Owned

The concluding chapter reviews the main findings from the comparative case studies, synthesizes the main lessons, considers extensions of the book’s explanatory framework, and looks at emerging challenges that countries face in adjusting their development strategies to the new global economy marked by the private ownership of knowledge. Review of the key points of comparison from the case studies underscores the importance of social structure and coalitions for analyses of comparative and international political economy. Looking forward, this chapter supplements the book’s analysis of the political economy of pharmaceutical patents with discussion of additional ways that countries respond to the monumental changes that global politics of intellectual property have undergone since the 1980s. The broader focus underscores fundamental economic and political challenges that countries face in adjusting to the new world order of privately owned knowledge, and points to asymmetries in global politics that reinforce these challenges.

scholarly journals From natural capital accounting to natural capital banking

2021 ◽  
Author(s):  
Michael J. Vardon ◽  
Heather Keith ◽  
Peter Burnett ◽  
David B. Lindenmayer
Keyword(s):  
Natural Capital ◽  
Natural Capital Accounting

scholarly journals Firms in Trade and Trade Politics

2019 ◽  
Vol 22 (1) ◽  
pp. 399-417 ◽  
Author(s):  
In Song Kim ◽  
Iain Osgood
Keyword(s):  
Political Economy ◽  
Exchange Rates ◽  
Interest Group ◽  
Foreign Investment ◽  
International Political Economy ◽  
Political Organization ◽  
Trade Regime ◽  
Capital Movements ◽  
Trade Politics ◽  
Preference Map

We survey the literature on firms as primary actors in trade politics. In contrast with prevailing approaches, firm-centered models predict that trade internally divides industries and that larger firms are the strongest advocates for globalization. This new preference map alters extant predictions about the dynamics of interest group contestation over trade and suggests revised accounts for how political organization and institutions contribute to an open international order. We also explore the potential for new insights into the operation of the global trade regime, the politics of foreign investment, immigration and capital movements, and exchange rates. Poli-tical activities undertaken by firms are important areas for further research in international political economy: Their economic engagements directly affect the movement of goods, services, capital, and people across the globe.

scholarly journals The political consequences of the product cycle: industrial history and political outcomes

1979 ◽  
Vol 33 (1) ◽  
pp. 1-34 ◽  
Author(s):  
James R. Kurth
Keyword(s):  
Political Economy ◽  
Domestic Politics ◽  
International Political Economy ◽  
Product Cycle ◽  
The West ◽  
Political Consequences ◽  
Industrial History ◽  
Political Outcomes ◽  
Foreign Policies ◽  
The Impact

What explains the continuing stagnation in the industrial economies of the West? What will be the impact of such stagnation upon domestic politics and upon international relations? Are there domestic and foreign policies which the state can undertake to bring about a return to sustained economic prosperity and a recapitulation of that lost golden age of 1948–1973? These are now the central questions for scholars in the emerging field of international political economy. A recent special issue of International Organization, edited by Peter Katzenstein, has presented some of the most useful and sophisticated approaches to these questions and analyses of the international political economy of the West during the period of the last thirty years.

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