Aktuelle Veröffentlichungen

2020

Kajüter, P./Eckerth, S./Jeurissen, S.: Quartalsberichterstattung im General Standard – Aktuelle Entwicklungen der Berichtspraxis, in KoR, Apri 2020, Vol 21, No. 4, pp. 170-176

Die Anforderungen an die Quartalsberichterstattung im General Standard haben sich in den letzten Jahren mehrfach geändert. Die erst 2007 verpflichtend eingeführten Zwischenmitteilungen der Geschäftsführung wurden durch das Gesetz zur Umsetzung der Transparenzrichtlinie-Änderungsrichtlinie 2015 wieder abgeschafft. Somit haben die Emittenten seit 2016 erneut die Möglichkeit, auf die quartalsweise Berichterstattung zu verzichten oder ein geeignetes Berichts-instrument bspw. in Form der Quartalsmitteilung oder des Quartalsfinanzberichts zu wählen. Der Beitrag gibt einen Einblick in die Berichtspraxis vor und nach den Regulierungsänderungen und zeigt auf, wie sich die Berichterstattung auf freiwilliger Basis entwickelt hat.

2019

Kajüter, P./Schröder, M.: Cost Accounting Systems in Germany and the USA: A Cross-National Com­parison and Empirical Evidence, in: Buttkus, M./Eberenz, R. (Eds.), Performance Management in Retail and the Consumer Goods Industry, Cham 2019, pp. 11-26

This paper analyzes cross-national differences in the design of cost accounting systems between Germany and the USA—two countries that have a distinct cost accounting tradition. The comparison explores and summarizes several characteristics that make German cost accounting systems more detailed than US ones. It provides insights into national particularities and discusses mutual influences in the conceptual evolution of German and US cost accounting practices. Using empirical evidence from subsidiaries of anglophone multinational firms operating in Germany, the paper identifies German cost center accounting as an interesting lever to improve the decision usefulness of US cost accounting.

 

Kajüter, P./Klassmann F./Nienhaus, M.: The effect of mandatory quarterly reporting on firm value, in: The Accounting Review, May 2019, Vol. 94, No. 3, pp. 251-277

We exploit a regulatory change in Singapore to analyze the capital market effects of mandatory quarterly reporting. The listing rule implemented in 2003 has required firms with a market capitalization above S$75 million—but not firms with a market capitalization below this threshold — to publish quarterly financial statements. Using regression discontinuity analysis for our identification, we provide novel evidence of the causal effects of mandatory quarterly reporting on small firms. We find a 5 percent decrease in firm value consistent with the notion that mandatory quarterly reporting is perceived as a net burden for small firms. Contrary to popular belief, we cannot find evidence of informational benefits or myopic investment for firms around the threshold. Additional tests suggest positive information spillover effects from large mandatory quarterly reporters to non-quarterly reporting firms.