What has the invisible hand achieved?
评估市场对财务报告的影响，指出财务报告和会计是更广泛的报告、融资和治理均衡的一部分，并分析了市场和政治力量如何影响会计与财务报告，最后预测FASB和IASB激进准则变革的效果。
Abstract This paper was commissioned for the Institute of Chartered Accountants in England and Wales Information for Better Capital Markets Conference held on 19-20 December 2005. It evaluates the effect of the market on financial reporting recognising that financial reporting and accounting are only parts of a general reporting. financing and governance equilibrium. That equilibrium is affected by the political process, as well as by capital and other markets. 1 explain how and why both market and political forces have influenced accounting and financial reporting and provide examples of those influences. Further. I draw implications for accounting standard-setting bodies that desire to change the nature of accounting and financial outcomes. Finally. I predict the effects of the radical standard-setting changes proposed by the FASB and IASB.