Private Firm Accounting: The European Reporting Environment, Data and Research Perspectives

73 Pages Posted: 18 Dec 2019 Last revised: 5 Jun 2021

See all articles by Christof Beuselinck

Christof Beuselinck

Catholic University of Lille - IESEG School of Management

Ferdinand Elfers

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

Joachim Gassen

Humboldt University of Berlin - School of Business and Economics; TRR 266 Accounting for Transparency

Jochen Pierk

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

Date Written: May 2021

Abstract

This study provides a guide to accounting research on private firms with an emphasis on the European setting. We start by providing an overview of private firm financial reporting regulation in Europe and indicate how this institutional framework can be used to identify promising research settings that in part generalize beyond the European setting. Next, we discuss the availability of private firm accounting data and the underlying data generating process that involves private firms’ original reports, governmental and private data aggregators, and commercial data providers. We show how this process generates insightful data, but at the same time causes complex sample selection issues that researchers should take into account when assessing prior findings and developing new research projects. Finally, we identify potential areas of future work by reviewing the extant literature along the three main motivations for conducting private firm work: (i) to learn more about private firms per se, (ii) to learn more about what distinguishes private firms from public firms, and (iii) to obtain insights from private firms that generalize across all firms.

Suggested Citation

Beuselinck, Christof and Elfers, Ferdinand and Gassen, Joachim and Pierk, Jochen, Private Firm Accounting: The European Reporting Environment, Data and Research Perspectives (May 2021). TRR 266 Accounting for Transparency Working Paper Series No. 52, Available at SSRN: https://ssrn.com/abstract=3496543 or http://dx.doi.org/10.2139/ssrn.3496543

Christof Beuselinck

Catholic University of Lille - IESEG School of Management ( email )

3 Rue de la Digue
Office: A321
Puteaux, 92800
France
+33320545892 (Phone)

Ferdinand Elfers (Contact Author)

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands

Joachim Gassen

Humboldt University of Berlin - School of Business and Economics ( email )

Spandauer Str. 1
Berlin, D-10099
Germany
+49 30 2093 5764 (Phone)
+49 30 2093 5670 (Fax)

TRR 266 Accounting for Transparency

Warburger Straße 100
Paderborn, 33098
Germany

Jochen Pierk

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands

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