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5th LSE/MBS Conference: In Search of the Ideal GAAP: Stewardship, Decision-making and the Way Forward

27 June 2011

The 5th LSE/MBS conference took place on 27th June 2011 at the London School of Economics, funded by LSE's Department of Accounting, Manchester Business School and ICAEW's charitable trusts.  

In Search of the Ideal GAAP: Stewardship, Decision-making, and the Way Forward. 

Invited speakers are:

Please click here for details of the full programme.

Part of the costs of this event are being paid by the ICAEW's charitable trusts. 

Article by Dr Vasiliki Athanasakou:

Maria Correia    Yuval Millo    SP Kothari    Sugata Roychowdhury


June 27 marked the 5th annual LSE/MBS conference, which rotates between the Department of Accounting of the LSE and the Manchester Accounting and Finance Group of Manchester Business School. This is the second time that LSE has hosted this conference and the third time that the ICAEW’s charitable trusts has sponsored part of the costs (with the remaining costs shared by the two Schools).

Since its inception in 2007 this annual conference series has provided a forum for both established and young and emerging academics, policy makers and practitioners from around the world to debate topical issues in global accounting. Maintaining the focus on emerging researchers, this year we invited papers by Maria Correia from London Business School, Sugata Roychowdhury from Boston College, Yuval Millo from the LSE, and Garen Markarian from Instituto de Empresa Business School. The conference centred once more on a topic of international significance: the long-standing debate on the use of accounting information for decision-making vis-à-vis stewardship. The global financial crisis has heated up this debate, challenging international regulators to re-think the desired properties of GAAP. Two keynote speakers provided experienced commentary on the topic. SP Kothari (MIT) has recently published a comprehensive review of positive research in accounting, highlighting its implications for GAAP (Journal of Accounting and Economics 2010, 2/3). Richard Macve (LSE) has a long established publication record on the conceptual framework of accounting and the uses of accounting information, and is one of the few academics representing both the academic and policy-making scene.


This year’s conference had two novel features. The first was to include a paper from outside mainstream financial accounting research, contributed by Yuval Millo, who probed the role of social networks on the decision-making process of hedge funds managers and brokers. This signalled our interest in embracing related disciplines and endorsing the multidisciplinary approach to accounting research that the LSE has long initiated and promoted. The second was to invite discussions of each paper by established academics in the field, to enhance the feedback provided to our presenters. We are so grateful to Jennifer Francis (Duke University), Scott Richardson (London Business School), Laurence van Lent (Tilburg University) and Per Olsson (Duke University) for their constructive discussions and contribution to the conference. With these carefully chosen presenters and discussants, and about 70 delegates (both academics and practitioners) from the US, the UK and other European countries, the conference day was stimulating: two insightful and inspiring speeches and four meticulous and thought-provoking papers followed by constructive discussions and comments. We are very pleased that the LSE hosted such an event contributing to the international debate on the uses of accounting information with insights on the way forward.


A very special thank you note goes to all colleagues who contributed to this event and especially to my co-organizers, Lisa Goh and Stefano Cascino who strived to ensure its success.

 Richard Macve  LSE/MBS Conference  Garen Markarian