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The Financial Burden of Regulation : Exploring Macroeconomic and Institutional Ties with the Demand for Accounting Services

Title data

Loy, Thomas ; Bravidor, Marcus:
The Financial Burden of Regulation : Exploring Macroeconomic and Institutional Ties with the Demand for Accounting Services.
Bayreuth , 2016 . - 23 p.

Official URL: Volltext

Abstract in another language

We empirically analyze the determinants of regulatory costs associated with accounting, audit and tax rules in the European Union. Regulatory costs include transfer payments from losers to beneficiaries of such legislation. Hence, building upon a novel dataset, we estimate regulatory costs as the actual revenues earned from accounting, audit and tax advisory services. Potential determinants include governance mechanisms, financing sources as well as country-specific tax and audit requirements. Our results indicate that regulatory cost strongly depend on the economy’s size. However, their share of GDP decreases in larger economies. We find further evidence that large companies bear the majority of regulatory costs. Strong governance and enforcement institutions cannot fully compensate this effect. Competitive income tax systems do not lower regulatory costs, indicating tax advisory as the “price tag” of maximizing tax benefits.

Further data

Item Type: Working paper, discussion paper
Keywords: Corporate Governance; Regulatory Costs; Compliance Costs; Audit; Taxation; Legal Enforcement; European Union
Subject classification: Journal of Economic Literature Classification: G18 G30 K22 K34 L51 M41 M42
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration X > Chair Business Administration X - Univ.-Prof. Dr. Rolf Uwe Fülbier
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Junior Professorship Auditing > Junior Professorship Auditing - Juniorprof. Dr. Thomas Loy
Profile Fields > Emerging Fields > Governance and Responsibility
Research Institutions > Research Units > Research Centre for Family Enterprises
Research Institutions > Research Units > Forschungsstelle für Unternehmens- und Kapitalmarktrecht sowie Unternehmenssteuerrecht - Companies, Capital Markets and Taxes - CoCapT
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Junior Professorship Auditing
Profile Fields
Profile Fields > Emerging Fields
Research Institutions
Research Institutions > Research Units
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 21 Jan 2016 14:28
Last Modified: 04 Apr 2019 05:40
URI: https://eref.uni-bayreuth.de/id/eprint/29889