Contributions published at Accounting (Dieter Pfaff)

Nel 2023 entrerà in vigore il nuovo diritto azionario. Nell’edizione R&C 02.2021 abbiamo iniziato a darvi una panoramica delle importanti modifiche di cui bisognerà tenere conto nell’allestimento dei conti e nella gestione finanziaria a partire dall’introduzione di questa importante modifica legislativa.

Purpose: This study aims to present a brief overview of developments in management accounting research and practice in German-speaking countries, locate the contributions of this special issue in historical trajectories and provide an outlook of expected future developments in this area. Design/methodology/approach: This study reviews the literature and draws a critically reflective approach. Findings: A century after Schmalenbach, Germanic management and cost accounting have significantly changed, even though the roots of the cost accounting tradition of the late 19th and early 20th centuries are still visible in practice and teaching, which is true for both organisational practice and research. In both cases, an encroachment of the global on the local can be seen but, paradoxically, as Hopwood (1999) noted, the seemingly globally standardised accounting systems allow for local idiosyncrasies to specifically stand out. The anchoring of management accounting in financial accounting, the country-specific ownership and financing models, the importance of capital and labour markets (e.g. strong codetermination) for companies, regulations on corporate governance and the determination of the tax base are examples of institutions that can shape the behaviour of management and, thus, also idiosyncrasies of management accounting in a country. Originality/value: The contributions of this special issue provide insight into developments in management accounting research and practice in German-speaking countries and, thus, enhance our understanding of the different historical trajectories and traditions in management accounting. The papers by Weber and Wiegmann and by Gisch et al. demonstrate how specific idiosyncratic practices and understandings of management accounting in Germanspeaking countries mediate global influences on management accounting in private- and public-sector organisations. The papers by Endenich et al. and by Kreilkamp et al. show that the influence of international developments in management accounting research has become stronger in German speaking management accounting academia.

Recent corporate fraud cases question why they still occur despite substantial efforts in audit-ing and regulation. This essay points out that corporate fraud should not be countered one-sid-edly with stricter control and liability for auditors. The incentives faced by corporate execu-tives and their regulators are too diverse for such one-sided actions against auditors. Instead, it is crucial to strengthen market forces in order to fight corporate fraud. This includes providing a set-up for short-sellers to put their accusations forward. Simultaneously, incentives of ma-nipulative short-sellers or short-sellers using illegal measures must be constrained.

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This paper investigates how environmental and social (E&S) risks and topics (i. e. E&S issues that are important in terms of adaptation to a changing business environment) are integrated in the banking sector. Despite banks’ key role in steering financial flows towards sustainable development, little is currently known as to whether and how banks integrate E&S aspects into their management control systems and whether this integration translates into E&S performance. Building on prior studies in the environmental management control literature, we design a conceptual model in which we link contextual factors, a proactive strategy approach, E&S management controls, and E&S performance. Following common practice in the banking sector, we differentiate between two paths of E&S management controls: risk management (value protection) and topic management (value creation). Based on survey data for a small sample of 50 European banks, we find evidence that contextual factors, reflected in the perceived power and legitimacy of clients, voluntary standard setters and NGOs, are positively related to a proactive strategy approach. This proactive strategy translates into both topic and risk management. Yet, in the next step, only topic management is positively related to the E&S performance of a bank, but not risk management.

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