拉斯维加斯9888

Accounting Seminar（2014-13）

Topic:Financial Analysis Used in Clean Development Mechanism Projects: Fact or Fiction?

Speaker:Naomi Soderstrom (University of Melbourne)

Time:: Friday,31 October, 08:30-10:00am

Location:Room 217, Guanghua Building 2

Organizer:Department of Accounting,MPAcc GSM, PKU

Abstract：

We examine how monitoring reduces incentives of companies to bias forward-looking estimates. These estimates are used as a criterion for admission into a United Nations program that grants tradable carbon emissions permits for carbon-reducing projects in developing countries. Consistent with our expectation, we find that reported rates of return which are the basis for admission to the program tend to be downwardly biased and are negatively associated with the forecasted carbon reduction. However, monitoring from various sources provides some mitigation of the distorted incentives and related misreporting.

Your participation is warmly welcomed!