Corporate Lobbying of the International Accounting Standards Committee

Abstract

The paper investigates corporate lobbyists of the International Accounting Standards Committee (IASC). This exploratory study was done in order to better understand the characteristics of corporations that lobby the IASC and to empirically test the applicability of U.S.‐based lobbying theories in this international context. Corporations that submitted comment letters about 17 Exposure Drafts and three Draft Statements of Position from 1989 to 1994 were analyzed. Overall, the 100 lobbying corporations were quite large. In the U.S. and in 10 of the 12 other countries examined, lobbying corporations were larger than nonlobbying firms in terms of revenue, income, and assets. Eighty‐four percent of all lobbying corporations were listed on at least one foreign stock exchange, and 78% of non‐U.S. lobbying corporations had equity securities traded in the U.S. Finally, in 10 of the 12 non‐U.S. countries, a higher percentage of lobbying firms than nonlobbying firms had their stock traded in the U.S. Overall, corporations lobbying the IASC tend to be very large both globally and in terms of their country of domicile, listed on at least one foreign exchange, and traded in the U.S. Support is found in this international context for ideas originating in the U.S.‐based lobbying literature.

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