TY - JOUR
T1 - A revised lesson for accounting measurement from transaction cost economics
AU - Shailer, Greg
AU - Wilson, Mark
PY - 2003
Y1 - 2003
N2 - This paper disputes the view, put forward in an earlier issue of Australian Accounting Review, that transaction cost economics (TCE) shows that market values of assets are not appropriate in balance sheets and that the usefulness of balance sheets is therefore diminished. This view ignores the role of production costs, complexity and contracting costs in asset-ownership decisions, which reflect various incentives, including a trade-off between production costs and transaction governance costs. In fact, TCE theory lends some support to the provision of market values.
AB - This paper disputes the view, put forward in an earlier issue of Australian Accounting Review, that transaction cost economics (TCE) shows that market values of assets are not appropriate in balance sheets and that the usefulness of balance sheets is therefore diminished. This view ignores the role of production costs, complexity and contracting costs in asset-ownership decisions, which reflect various incentives, including a trade-off between production costs and transaction governance costs. In fact, TCE theory lends some support to the provision of market values.
UR - http://www.scopus.com/inward/record.url?scp=85040393390&partnerID=8YFLogxK
U2 - 10.1111/j.1835-2561.2003.tb00221.x
DO - 10.1111/j.1835-2561.2003.tb00221.x
M3 - Article
SN - 1035-6908
VL - 13
SP - 66
EP - 72
JO - Australian Accounting Review
JF - Australian Accounting Review
IS - 29
ER -