2006–2010

Macroeconomic Turbulence: Corporate Performance, Transparency and Economic Growth

Särtryck nr 2008:21

Författare: Lars OxelheimÅr: 2008 Publikation: Tímarit um viðskipti og efnahagsmál Sidor: 59–70

Macroeconomic Turbulence: Corporate Performance, Transparency and Economic Growth Lars Oxelheim


Transparency and economic growth have become buzzwords in the economic and political debate in recent years. On the one hand, a lack of transparency is used as an ex post explanation for corporate scandals such as Enron, WorldCom and Parmalat and bank scandals such as Société Général with assumed effects on economic growth. On the other hand, transparency is advocated as an ex ante driver of improved economic growth, as in the Lisbon Agenda with its use of benchmarking (and the Open Co-ordination Method). Few research reports have tried to link transparency to economic growth. Transparency is a multidimensional and situation-related word, with information asymmetry as a kind of lowest common denominator. This chapter addresses optimal transparency concerning macroeconomic influences on the individual firm. It discusses to what extent the implementation as of January 2005 of the International Financial Reporting Standards (IFRS) for listed consolidated European firms will contribute to a reduced information asymmetry, lower agency costs, lower cost of capital, increased investment and to higher economic growth at the macro level.


Referens:
Oxelheim, Lars (2008), "Macroeconomic Turbulence: Corporate Performance, Transparency and Economic Growth". Tímarit um viðskipti og efnahagsmál (Special Issue), 59–70.

Lars Oxelheim

Kontakt

Tel: 08 665 4527
Mobil: 070 861 9361
lars.oxelheim@ifn.se

Richard Öhrvall

Ämnesområde: korruption, opinionsmätningar, politisk ekonomi, politiskt beteende, privatiseringar, skattefinansierade tjänster

Några av de frågor som Richard Öhrvall försöker besvara i sin forskning:

  • Hur pass jämlikt är olika former av politiskt deltagande och vad förklarar att vissar grupper deltar i högre grad än andra?
  • Hur pass utbredd är offentlig korruption i Sverige och vad har medborgare för tilltro till att politiker och offentliga tjänstemän handlar på ett tillbörligt sätt?

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