The Influence of Law and Economics on Law and Accounting: Two Steps Forward, One Step Back

@inproceedings{Cunningham2011TheIO,
  title={The Influence of Law and Economics on Law and Accounting: Two Steps Forward, One Step Back},
  author={Lawrence A. Cunningham},
  year={2011}
}
Theory can have profound effects on practice, some intended and desirable, others unintended and undesirable. That's the story of the influence the field of law and economics has had on the domain of law and accounting. That influence comes primarily from agency theory and modern finance theory, specifically through the efficient capital market hypothesis and capital asset pricing model. Those theories have forged considerable change in federal securities regulation, accounting standard setting… CONTINUE READING