Accounting information has gained utmost importance over the years, and it now plays a vital role in our society. Indeed, the trends of a global economy, especially one relying on a capital market-based financial syst...Accounting information has gained utmost importance over the years, and it now plays a vital role in our society. Indeed, the trends of a global economy, especially one relying on a capital market-based financial system, are greatly influenced by reliable accounting information. However, it is sometimes difficult to assess the ＂reliability＂ of such information, given the clear differences in the needs and goals of its different users. In this respect, the possible ways to guarantee the appropriateness of the accounting information provided to users doubtlessly deserve a careful investigation. The second half of the 1970s can be considered as the starting point of a debate, within the Anglo-Saxon accounting literature, concerning the most effective methods to provide users with accounting data effectively meeting their very specific needs. In this context, two antithetical schools of thought developed： （1） free market approach; and （2） regulatory approach. Although it is possible to state that accounting regulation has now become a concrete reality both inside and outside the Anglo-Saxon accounting context, after more than halfa century, its efficacy is still an open issue.展开更多
Building a regulatory regime over its industry challenges the Chinese state in the process of moving towards a modem economy. To what extent has the socialist state intervention in markets been altered along with Chin...Building a regulatory regime over its industry challenges the Chinese state in the process of moving towards a modem economy. To what extent has the socialist state intervention in markets been altered along with China＇s integration into the global economy？ Roselyn Hsueh examines China＇s regulatory regime of FDI through the comparison of two industries, telecommunication and textiles and finds an interesting mode of global economic integration that distinguishes China from both the liberal economic model and the East Asian developmental state model. The conclusion is that, even though China has introduced commitments made to the WTO and has liberalized FDI, it only appears to be a more liberal state in that the government has ＂selectively imposed new regulations at the sectoral level, asserting and even tightening control over industry and market development.＂ She further explores the political implication of this bifurcated strategy--＂liberal- ization two-step＂--and argues that introduction of economic competition and tol- erance of private economies and market ideas and norms do not necessarily lead to political change towards a democratic one.展开更多
文摘Accounting information has gained utmost importance over the years, and it now plays a vital role in our society. Indeed, the trends of a global economy, especially one relying on a capital market-based financial system, are greatly influenced by reliable accounting information. However, it is sometimes difficult to assess the ＂reliability＂ of such information, given the clear differences in the needs and goals of its different users. In this respect, the possible ways to guarantee the appropriateness of the accounting information provided to users doubtlessly deserve a careful investigation. The second half of the 1970s can be considered as the starting point of a debate, within the Anglo-Saxon accounting literature, concerning the most effective methods to provide users with accounting data effectively meeting their very specific needs. In this context, two antithetical schools of thought developed： （1） free market approach; and （2） regulatory approach. Although it is possible to state that accounting regulation has now become a concrete reality both inside and outside the Anglo-Saxon accounting context, after more than halfa century, its efficacy is still an open issue.
文摘Building a regulatory regime over its industry challenges the Chinese state in the process of moving towards a modem economy. To what extent has the socialist state intervention in markets been altered along with China＇s integration into the global economy？ Roselyn Hsueh examines China＇s regulatory regime of FDI through the comparison of two industries, telecommunication and textiles and finds an interesting mode of global economic integration that distinguishes China from both the liberal economic model and the East Asian developmental state model. The conclusion is that, even though China has introduced commitments made to the WTO and has liberalized FDI, it only appears to be a more liberal state in that the government has ＂selectively imposed new regulations at the sectoral level, asserting and even tightening control over industry and market development.＂ She further explores the political implication of this bifurcated strategy--＂liberal- ization two-step＂--and argues that introduction of economic competition and tol- erance of private economies and market ideas and norms do not necessarily lead to political change towards a democratic one.
