What Has the Invisible Hand Achieved

By Ross L. Watts. 2006

173 citations recorded by the source corpus.

Subfields: Accounting, Finance, Management Information Systems

View Paper: https://www.semanticscholar.org/paper/eec011d52052cc7113965b886495c37f3e2bdba2

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Citations in the corpus

The implications of research on accounting conservatism for accounting standard setting (2015, background): “Watts (2006), for example, argues that the role of accounting is ‘to produce “hard” verifiable numbers that discipline other courses of information’.”
Implications for GAAP from an Analysis of Positive Research in Accounting (2010, background): “Conditional conservatism mitigates all of these problems, which explains why it has long been a central tenet of GAAP that predates the regulation of accounting (see, e.g., Basu, 1997; Watts, 2006).”
The Information Role of Conservatism (2008, background): “Lambert (1996), Ball (2001) and Watts (2006) hypothesize that financial statements discipline other sources of information.”
Institutions and Information Environment of Chinese Listed Firms (2012, background): “The use of accounting numbers in firms’ managerial and debt contracts creates a demand for disciplinary mechanisms, such as the appointment of audit committee and external auditors, to ensure the reporting of high quality information to all contractual parties, including existing and potential inves”
Evidence on the Role of Accounting Conservatism in Monitoring Managers' Investment Decisions (2011, background): “The optimal combination of governance mechanisms is chosen to maximize firm value and is likely to vary systematically across firms because these costs and benefits likely vary with firm characteristics such as the investment opportunity set, leverage, and the relative importance of external financi”
Accounting Conservatism and Board of Director Characteristics: an Empirical Analysis (2007, unknown): “these costs and benefits likely vary with firm characteristics such as the investment opportunity set, leverage, and the relative importance of external financing (Leftwich et al., 1981; Agrawal and Knoeber, 1996; Boone et al., 2006; Watts, 2006).”
Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I): Conceptual Underpinnings and Economic Analysis (2010, background): “These legislative bodies have a long-standing tradition of intervening with financial reportng, most prominently in times of crisis e.g., Zeff 2003a, 2003b; Watts 2006; Ball 2009 .”
Does fair value accounting for non-financial assets pass the market test? (2013, unknown): “While the debate dates back to the 1930s (Paton 1932; pp. 739–747; Fabricant 1936), it is still unsettled (e.g., Schipper 2005; Ball and Shivakumar 2006; Watts 2006; Laux and Leuz 2009; Hail et al. 2010).”
Fair Value or Cost Model? Drivers of Choice for IAS 40 in the Real Estate Industry (2010, background): “On the other hand, the reliability of fair value estimates is the most critical point (Martin et al., 2006; Watts, 2006; Whittington, 2008), with the potential damage brought to the stewardship function of financial statements.”
Negotiated Measurement Rules in Debt Contracts (2010, unknown): “Watts (2006) argues that fair value accounting is likely to make accounting measures too noisy and debt contracts will probably stop using accounting numbers.6 No studies, however, investigate the properties of negotiated measurement rules in debt contracts systematically after Leftwich (1983) and…”