Karthik Ramanna

Associate Professor of Business Administration

Karthik Ramanna is an associate professor of business administration at Harvard Business School, where he is also the Henry B. Arthur Fellow, an appointment supporting the research and teaching of business ethics, and a Marvin Bower Fellow, an appointment to help faculty launch innovative new research agendas. Additionally, Karthik is a faculty associate in the Weatherhead Center for International Affairs in Harvard’s Faculty of Arts & Sciences and an associate editor of the Journal of Accounting & Economics. Karthik teaches the first-year M.B.A. course “Leadership and Corporate Accountability,” where he is particularly involved in studying the responsibilities of business leaders worldwide in lobbying regulators and combating corruption. Previously, Karthik taught the first-year M.B.A. course “Financial Reporting and Control.” Occasionally, he co-teaches in HBS’s executive education programs (“Finance for Senior Executives”) and its doctoral programs. In November 2012, he helped launch “Leadership and Corporate Accountability—India” an executive program at HBS’s new classroom in India.

Karthik has research interests in two distinct, but interrelated, fields. The first is the political economy of accounting standard-setting. Accounting standards, in facilitating resource allocation across competing ventures, are central to the functioning of complex economies. Karthik’s research examines how corporate lobbying, regulatory ideologies, power politics, and other political incentives interact to shape the nature of accounting standards and financial reports. He has explored these ideas both in the U.S. (e.g., through studies of the Financial Accounting Standards Board) and in the context of accounting’s globalization, as seen through countries’ adoption of International Financial Reporting Standards. Karthik is also interested in the political economy of various conceptual ideas in accounting such as accounting conservatism and fair-value accounting.

The second field of Karthik’s research is corporate accountability. Motivated by evidence of special-interest capture of the accounting standard-setting process in the U.S. and abroad, he is interested in examining business leaders’ broader responsibilities to society, particularly when engaging in public policy. This stream of research explores, across countries, the role of transparency as an instrument of accountability, particularly in addressing corruption and building responsible models of corporate lobbying. The central thesis here is that theories of transparency from accounting can be applied to develop and improve systems of corporate accountability.

Karthik has published several articles and case studies in his areas of interest, including in Accounting, Economics & LawAccounting Horizons, CPA Journal, Harvard Business Review, Journal of Accounting & EconomicsJournal of Accounting Research, and Review of Accounting Studies. His research has been awarded the Journal of Accounting & Economics’ Best Paper Prize and the American Accounting Association’s FARS Best Dissertation Prize. He has a Ph.D. in management from the Massachusetts Institute of Technology.

Articles

  1. Network Effects in Countries' Adoption of IFRS

    If the differences in accounting standards across countries reflect relatively stable institutional differences (e.g., auditing technology, the rule of law, etc.), why did several countries rapidly, albeit in a staggered manner, adopt IFRS over local standards in the 2003–2008 period? We test the hypothesis that perceived network benefits from the extant worldwide adoption of IFRS can explain part of countries' shift away from local accounting standards. That is, as more jurisdictions with economic ties to a given country adopt IFRS, perceived benefits from lowering transactions costs to foreign financial-statement users increase and contribute significantly towards the country's decision to adopt IFRS. We find that perceived network benefits increase the degree of IFRS harmonization among countries, and that smaller countries have a differentially higher response to these benefits. Further, economic ties with the European Union are a particularly important source of network effects. The results, robust to numerous alternative hypotheses and specifications, suggest IFRS adoption was self-reinforcing during the sample period, which, in turn, has implications for the consequences of IFRS adoption.

    Keywords: International Accounting; Financial Reporting; Network Effects;

    Citation:

    Ramanna, Karthik, and Ewa Sletten. "Network Effects in Countries' Adoption of IFRS." Accounting Review (forthcoming). (July 2014.) View Details
  2. A Framework for Research on Corporate Accountability Reporting

    This paper provides an accounting-based conceptual framing of the phenomenon of corporate accountability reporting. Such reporting is seen as arising from a delegator's (e.g., a citizenry) demand to hold a delegate (e.g., shareholders) to account. When effective, corporate accountability reporting can internalize certain externalities into firms' resource-allocation decisions, although doing so will not always serve shareholders' interests. I leverage the positive accounting literature's current understanding of properties of financial reports to develop three hypotheses on corporate accountability reporting. I argue that an accountability reporting system is likely to be more useful to a delegator if it (1) mitigates information advantages across delegates and delegators, (2) reports both stocks and flows in the measures of account, and (3) has a mutually agreeable due process to match across periods the actions of delegates and the outcomes of those actions. I show how the successive incidence of these properties in observed corporate accountability reports can be used to determine whether and how those reports create or destroy value for shareholders and other constituencies.

    Keywords: Corporate Accountability; Value; Financial Reporting; Business and Shareholder Relations;

    Citation:

    Ramanna, Karthik. "A Framework for Research on Corporate Accountability Reporting." Accounting Horizons 27, no. 2 (June 2013): 409–432. View Details
  3. The International Politics of IFRS Harmonization

    The globalization of accounting standards as seen through the proliferation of IFRS worldwide is one of the most important developments in corporate governance over the last decade. I offer an analysis of some international political dynamics of countries' IFRS harmonization decisions. The analysis is based on field studies in three jurisdictions: Canada, China, and India. Across these jurisdictions, I first describe unique elements of domestic political economies that are shaping IFRS policies. Then, I inductively isolate two principal dimensions that can be used to characterize the jurisdictions' IFRS responses: proximity to existing political powers at the IASB and own potential political power at the IASB. Based on how countries are classified along these dimensions, I offer predictions, ceteris paribus, on countries' IFRS harmonization strategies. The analysis and framework in this paper can help broaden the understanding of accounting's globalization.

    Keywords: accounting standards; globalization; IASB; IFRS; politics; International Accounting; Globalization; Standards; Corporate Governance; Canada; China; India;

    Citation:

    Ramanna, Karthik. "The International Politics of IFRS Harmonization." Accounting, Economics and Law 3, no. 2 (April 2013): 1–46. View Details
  4. Why 'Fair Value' Is the Rule: How a Controversial Accounting Approach Gained Support

    For the past two decades, fair-value accounting—the practice of measuring assets and liabilities at estimates of their current values—has been on the ascent. This marks a major departure from the centuries-old tradition of keeping books at historical cost. It also has implications across the world of business, because the accounting basis—whether fair value or historical cost—affects investment choices and management decisions, with consequences for aggregate economic activity. This article discusses the role of investment banking and investment management industry veterans on the Financial Accounting Standards Board in the growth of fair-value accounting. It raises the possibility of special-interest capture of accounting regulation by segments of the financial-services industry.

    Keywords: accounting; Fair Value; FASB; finance; politics; Accounting; Fair Value Accounting; Financial History; Financial Reporting; Accounting Industry; Financial Services Industry; United States;

    Citation:

    Ramanna, Karthik. "Why 'Fair Value' Is the Rule: How a Controversial Accounting Approach Gained Support." Harvard Business Review 91, no. 3 (March 2013). View Details
  5. Towards an Understanding of the Role of Standard Setters in Standard Setting

    We investigate the effect of standard setters in standard setting: we examine how certain professional and political characteristics of FASB members and SEC commissioners predict the accounting "reliability" and "relevance" of proposed standards. Notably, we find FASB members with backgrounds in financial services are more likely to propose standards that decrease "reliability" and increase "relevance," partly due to their tendency to propose fair-value methods. We find opposite results for FASB members affiliated with the Democratic Party, although only when excluding a financial-services background as an independent variable. Jackknife procedures show that results are robust to omitting any individual standard setter.

    Keywords: accounting; FASB; politics; relevance; reliability; standard setting; Accounting; Standards; Fair Value Accounting; Government and Politics; Personal Characteristics;

    Citation:

    Allen, Abigail M., and Karthik Ramanna. "Towards an Understanding of the Role of Standard Setters in Standard Setting." Journal of Accounting & Economics 55, no. 1 (February 2013): 66–90. View Details
  6. When the Crowd Fights Corruption

    Corruption is the greatest impediment to conducting business in Russia, according to leaders recently surveyed by the World Economic Forum. Indeed, it's a problem in many emerging markets, and businesses have a role to play in combating it, according to Healy and Ramanna. The authors focus on RosPil—an anticorruption entity in Russia set up by Alexey Navalny, a crusader against public and private malfeasance in that country. As of December 2011, RosPil claimed to have prevented the granting of dubious contracts worth US$1.3 billion. The organization holds corrupt politicians' and bureaucrats' feet to the fire largely through internet-based crowdsourcing, whereby often-anonymous people identify requests for government-issued tenders that are designed to generate kickbacks. Should entities like RosPil be supported, and should companies fashion their own responses to corruption? On the one hand, there are obvious public-relations and political risks; on the other hand, corruption can erode a firm's competitiveness, the trust of customers and employees, and even the very legitimacy of capitalism. The authors argue that heads of many multinational companies are well positioned to combat corruption in emerging markets. Those leaders have the power to enforce policies in their organizations and networks, and they enjoy the ability to organize others in the industry against this pernicious threat.

    Keywords: corruption; emerging economies; entrepreneurship; globalization; Crime and Corruption; Entrepreneurship; Ethics; Globalization; Russia; Georgia (nation, Asia); India;

    Citation:

    Healy, Paul M., and Karthik Ramanna. "When the Crowd Fights Corruption." Harvard Business Review 91, nos. 1/2 (January–February 2013). View Details
  7. Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment

    SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted managers will, on average, use the fair value estimates to convey private information on future cash flows. The current fair value of goodwill is unverifiable because it depends in part on management's future actions (including managers' conceptualization and implementation of firm strategy). Thus, agency theory predicts managers will, on average, use the discretion in SFAS 142 consistent with private incentives. We test these hypotheses in a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with some agency-theory derived predictions, does not confirm the private information hypothesis.

    Keywords: agency theory; goodwill impairment; fair-value accounting; FASB; SFAS 142; Fair Value Accounting; Standards; Cash Flow; Agency Theory; Motivation and Incentives; Forecasting and Prediction; Goodwill Accounting;

    Citation:

    Ramanna, Karthik, and Ross L. Watts. "Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment." Review of Accounting Studies 17, no. 4 (December 2012): 749–780. View Details
  8. Business Leaders Are More Than Profiteers, as They Deliver Growth in an Efficient, Fair Manner

    The legitimacy of market capitalism rests on its ability to deliver freedom, prosperity, and growth in a manner that is efficient and fair. The pursuit of profit is a central but not the only element of capitalism. There are many circumstances, such as when lobbying the government for technical regulations or when confronted with opportunities to obtain public licences through corrupt means, when businesspersons may have to suspend the short-term profit motive and assume a more benevolent, stewardship role toward the system and society. It is their capacity and good judgment to identify and act on these circumstances that will transform them from being simply profiteers to true business leaders, and will forestall the heavy-handed political response that might destroy the very system from which so many benefit.

    Keywords: Capitalism; leadership; Leadership; India;

  9. The Question of IFRS Adoption: A Very Long Engagement

    Keywords: accounting standards; political economy; International Accounting; International Relations;

    Citation:

    Ramanna, Karthik. "The Question of IFRS Adoption: A Very Long Engagement." CPA Journal 82, no. 4 (April 2012). View Details
  10. Implications for GAAP from an Analysis of Positive Research in Accounting

    Based on extant literature, we review the positive theory of GAAP. The theory predicts that GAAP's principal focus is on control (performance measurement and stewardship) and that verifiability and conservatism are critical features of a GAAP shaped by market forces. We recognize the advantage of using fair values in circumstances where these are based on observable prices in liquid secondary markets but caution against expanding fair values to financial reporting more generally. We conclude that rather than converging U.S. GAAP with IFRS, competition between the FASB and the IASB would allow GAAP to better respond to market forces.

    Keywords: Fair Value Accounting; Standards; International Accounting; Financial Markets; Financial Reporting;

    Citation:

    Kothari, S.P., Karthik Ramanna, and Douglas J. Skinner. "Implications for GAAP from an Analysis of Positive Research in Accounting." Journal of Accounting & Economics 50, nos. 2-3 (December 2010). View Details
  11. Elections and Discretionary Accruals: Evidence from 2004

    We examine the accrual choices of outsourcing firms with links to U.S. congressional candidates during the 2004 elections, when corporate outsourcing was a major campaign issue. We find that politically connected firms with more extensive outsourcing activities have more income-decreasing discretionary accruals. Further, relative to adjacent periods, the evidence is concentrated in the two calendar quarters immediately preceding the 2004 election, consistent with heightened incentives for firms to manage earnings during the election season. The incentives can be attributed to donor firms' concerns about the potentially negative consequences of scrutiny over outsourcing for themselves and for their affiliated candidates.

    Keywords: political economy; accounting information; accruals management; campaign contributions; discretionary accruals; earnings management; election outcomes; political currency; political process; Social Issues; Political Elections; Job Cuts and Outsourcing; Motivation and Incentives; Earnings Management; Welfare or Wellbeing; United States;

    Citation:

    Ramanna, Karthik, and Sugata Roychowdhury. "Elections and Discretionary Accruals: Evidence from 2004." Journal of Accounting Research 48, no. 2 (May 2010). View Details
  12. The Implications of Unverifiable Fair-value Accounting: Evidence from the Political Economy of Goodwill Accounting

    I study the evolution of SFAS 142, which uses unverifiable fair-value estimates to account for acquired goodwill. I find evidence consistent with the FASB issuing SFAS 142 in response to political pressure over its proposal to abolish pooling accounting. The result is interesting given this proposal was due in part to SEC concerns over pooling misuse. I also find evidence consistent with lobbying support for SFAS 142 increasing in firms' discretion under the standard. Agency theory predicts such unverifiable discretion can be used opportunistically.

    Keywords: accounting; fair values; politics; standard setting; Fair Value Accounting; Goodwill Accounting; Government Legislation; Agency Theory;

    Citation:

    Ramanna, Karthik. "The Implications of Unverifiable Fair-value Accounting: Evidence from the Political Economy of Goodwill Accounting." Journal of Accounting & Economics 45, nos. 2-3 (August 2008). (Winner of the Elsevier JAE 2008 Best Paper Prize.) View Details

Cases and Teaching Materials

  1. Wal-Mart Lobbying in India?

    Citation:

    Ramanna, Karthik. "Wal-Mart Lobbying in India?" Harvard Business School Teaching Note 114-091, May 2014. View Details
  2. Tapestry Networks

    Tapestry Networks assembled industry leaders and their regulators in small, private meetings to build new frameworks for pressing regulatory challenges. Tapestry's motivating principle was to reimagine solutions to complex problems (e.g., drug-approval standards) in ways that created a win-win for firms and society. Tapestry meetings on bank-governance standards—initiated after the 2008–2009 Financial Crisis—had experienced some success in rebuilding trust between regulators and banks. But, five years on, the initiative faced important challenges. First, as the urgency of the Financial Crisis faded, it was becoming more difficult to show concrete successes, particularly to the meetings' sponsors—one participant described Tapestry as "sculpting fog." Second, participants differed on what they wanted to get out of the meetings—with some participants less focused on the meetings' broader social objectives. Third, Tapestry faced lingering questions about the meetings' legitimacy and whether they facilitated greater "coziness" between regulators and the regulated.

    Keywords: general management; government and business; strategy; Strategy; Consulting Industry; United States; European Union;

    Citation:

    Ramanna, Karthik, and Matthew Shaffer. "Tapestry Networks." Harvard Business School Case 114-051, April 2014. View Details
  3. Wal-Mart Lobbying in India?

    In 2012, as part of a routine disclosure under U.S. law, Wal-Mart revealed it had spent $25 million since 2008 on lobbying to "enhance market access for investment in India." This disclosure, which came weeks after the Indian government made a controversial decision to permit FDI in the country's multi-brand retail sector, created uproar in India. Lobbying by multinationals drew strong emotions in India, evoking images of the millions spent by Enron in the 1990s to "educate Indians"—a suspected euphemism for bribery. Opposition political parties accused Wal-Mart of bribing the Indian government, which, on the eve of a general election, appointed a judicial commission to investigate Wal-Mart. Already under pressure from allegations of bribery in Mexico, Wal-Mart risked becoming embroiled in another embarrassing scandal. How had the company landed in its current situation and how could it respond to the investigation into its India-related lobbying?

    Keywords: lobbying; india; multinational corporations; Business and Government Relations; Crime and Corruption; Retail Industry; India;

    Citation:

    Ramanna, Karthik, and Vidhya Muthuram. "Wal-Mart Lobbying in India?" Harvard Business School Case 114-023, September 2013. View Details
  4. Against the Grain: Jim Teague in Tanzania (A)

    Loan officer Jim Teague discovers his agro-processor client has a serious health-code violation just days before a disbursement is due. Proceeding with the loan could jeopardize the health of thousands of customers and put his employer at serious risk. But withholding the loan will likely deprive hundreds of farmers affiliated with the agro-processor their livelihoods in this poor rural corner of Tanzania.

    Keywords: Agribusiness; Financing and Loans; Health; Risk Management; Developing Countries and Economies; Agriculture and Agribusiness Industry; Tanzania;

    Citation:

    Ramanna, Karthik. "Against the Grain: Jim Teague in Tanzania (A)." Harvard Business School Case 112-069, March 2012. (Revised October 2012.) View Details
  5. Against the Grain: Jim Teague in Tanzania (B)

    Citation:

    Ramanna, Karthik. "Against the Grain: Jim Teague in Tanzania (B)." Harvard Business School Supplement 113-042, October 2012. View Details
  6. Against the Grain: Jim Teague in Tanzania (TN)

    Citation:

    Ramanna, Karthik. "Against the Grain: Jim Teague in Tanzania (TN)." Harvard Business School Teaching Note 112-112, June 2012. View Details
  7. AIG and the American Taxpayers (A)

    Explores the decision faced by AIG's board on whether to join shareholder and ex-CEO Maurice Greenberg's lawsuit against the U.S. government. The suit, argued by super-lawyer David Boies (of Bush v. Gore and California Gay Marriage fame), claims that in September 2008 the U.S. arbitrarily set aside the rights of AIG's shareholders—violating the Fifth Amendment by taking private property without just compensation—while preserving shareholder rights in other troubled financial institutions, including Goldman Sachs whose ex-CEO was the then Treasury Secretary. The U.S. government moved to dismiss the case arguing that it has wide discretion in times of crisis, but a federal judge allowed the suit to proceed. The case raises two issues central to understanding capitalism: (1) the importance of and limits to property rights; and (2) the role of the state in choosing between varieties of capitalism, here between oligarchic and entrepreneurial capitalism.

    Keywords: financial institutions; Financial Markets; financial crisis; property rights; Financial Institutions; Financial Markets; Financial Crisis; Property; Insurance Industry; United States;

    Citation:

    Ramanna, Karthik, and Matthew Shaffer. "AIG and the American Taxpayers (A)." Harvard Business School Case 113-124, April 2013. (Revised June 2013.) View Details
  8. AIG and the American Taxpayers (B)

    Explores the decision faced by AIG's board on whether to join shareholder and ex-CEO Maurice Greenberg's lawsuit against the U.S. government. The suit, argued by super-lawyer David Boies (of Bush v. Gore and California Gay Marriage fame), claims that in September 2008 the U.S. arbitrarily set aside the rights of AIG's shareholders—violating the Fifth Amendment by taking private property without just compensation—while preserving shareholder rights in other troubled financial institutions, including Goldman Sachs whose ex-CEO was the then Treasury Secretary. The U.S. government moved to dismiss the case arguing that it has wide discretion in times of crisis, but a federal judge allowed the suit to proceed. The case raises two issues central to understanding capitalism: (1) the importance of and limits to property rights; and (2) the role of the state in choosing between varieties of capitalism, here between oligarchic and entrepreneurial capitalism.

    Keywords: Financial Markets; financial institutions; financial policy; property rights; Financial Institutions; Financial Crisis; Financial Management; Insurance Industry; United States;

    Citation:

    Ramanna, Karthik, and Matthew Shaffer. "AIG and the American Taxpayers (B)." Harvard Business School Supplement 113-125, April 2013. View Details
  9. Business and Government: Campaign Contributions and Lobbying in the United States

    This module note on business-government relations introduces students to the state of campaign contributions and lobbying by corporations in the United States. The note develops two hypotheses as to the impact of corporate political engagement: (i) a vehicle to facilitate good government; and (ii) an instrument of special-interest capture. The note can be used to generate a discussion on the following issues: (1) In a democratic capitalist society, what is the appropriate role of business in government? (2) When it comes to political contributions, should corporations have the same rights and responsibilities as individuals? The note also describes the various practical choices businesses face on political engagement, including disclosure options and options to engage through trade or ideological associations. This description can be used to encourage business students to develop an aspiration for their companies' political engagement strategies.

    Keywords: political economy; Business and Government Relations; Business and Government Relations; Government and Politics; Public Administration Industry; United States;

    Citation:

    Ramanna, Karthik, Sandra J. Sucher, and Ian McKown Cornell. "Business and Government: Campaign Contributions and Lobbying in the United States." Harvard Business School Module Note 113-037, March 2013. View Details
  10. Business and Government: Campaign Contributions and Lobbying in the United States

    Citation:

    Ramanna, Karthik, and Sandra J. Sucher. "Business and Government: Campaign Contributions and Lobbying in the United States." Harvard Business School Teaching Note 113-138, June 2013. View Details
  11. Caijing Magazine (A)

    In late 2009, Wang Boming, publisher of Caijing Magazine, widely regarded as China's most independent newsmagazine, gathered his core team for an urgent meeting. His pioneering editor Hu Shuli, described for her fiercely independent journalism as "the most dangerous woman in China" had quit with two-thirds of Caijing's staff, allegedly over a conflict on editorial independence. Wang, known for his ability to navigate the country's carefully controlled propaganda apparatus, considered how to rebuild the magazine without its star editor.

    Keywords: Journals and Magazines; Publishing Industry; China;

    Citation:

    Ramanna, Karthik, and G.A. Donovan. "Caijing Magazine (A)." Harvard Business School Case 112-028, February 2012. (Revised October 2012.) View Details
  12. Caijing Magazine (B)

    In late 2009, Wang Boming, publisher of Caijing Magazine, widely regarded as China's most independent newsmagazine, gathered his core team for an urgent meeting. His pioneering editor Hu Shuli, described for her fiercely independent journalism as "the most dangerous woman in China" had quit with two-thirds of Caijing's staff, allegedly over a conflict on editorial independence. Wang, known for his ability to navigate the country's carefully controlled propaganda apparatus, considered how to rebuild the magazine without its star editor.

    Keywords: Publishing Industry; China;

    Citation:

    Ramanna, Karthik, and G.A. Donovan. "Caijing Magazine (B)." Harvard Business School Supplement 112-049, February 2012. (Revised July 2012.) View Details
  13. Caijing Magazine (TN)

    Citation:

    Ramanna, Karthik. "Caijing Magazine (TN)." Harvard Business School Teaching Note 112-111, June 2012. View Details
  14. Caijing Magazine: Video Interview with Wang Boming

    Citation:

    Ramanna, Karthik. "Caijing Magazine: Video Interview with Wang Boming ." Harvard Business School Video Supplement 113-701, July 2012. View Details
  15. Caijing Magazine and Rospil.info Combined Case Discussion

    Citation:

    Ramanna, Karthik. "Caijing Magazine and Rospil.info Combined Case Discussion." Harvard Business School Teaching Note 113-141, June 2013. View Details
  16. China or the World? A Financial Reporting Strategy for Hong Kong's Capital Markets

    Set in 2010, the case discusses the strategic directions Hong Kong could pursue, particularly vis-a-vis China, as it seeks to preserve its preeminence in the region. In 2010, the Hong Kong Exchange announced that it would allow listed Chinese companies to report using Chinese GAAP without reconciliation to IFRS. The exchange was responding to the demands of its largely Chinese clientele and also coping with increased global competition to attract listings from Chinese companies. However, there were concerns around whether this change would undermine Hong Kong's position as a financial center in the long term. Hong Kong's position as a global financial powerhouse was due in part to its rigorous emphasis on compliance and enforcement; allowing companies to report under Chinese GAAP, the practice of which was highly variable, could compromise Hong Kong's high corporate governance standards.

    Keywords: Governance Compliance; Global Range; Local Range; Competitive Strategy; Global Strategy; Globalized Economies and Regions; Financial Reporting; International Accounting; Hong Kong;

    Citation:

    Ramanna, Karthik, Gwen Yu, and G.A. Donovan. "China or the World? A Financial Reporting Strategy for Hong Kong's Capital Markets." Harvard Business School Case 112-035, September 2011. (Revised August 2013.) View Details
  17. China or the World? A Financial Reporting Strategy for Hong Kong's Capital Markets (TN)

    Citation:

    Ramanna, Karthik, and Gwen Yu. "China or the World? A Financial Reporting Strategy for Hong Kong's Capital Markets (TN)." Harvard Business School Teaching Note 112-113, June 2012. View Details
  18. Choosing a GAAP for Canada

    Explores Canadian regulators' decision to adopt International Financial Reporting Standards (IFRS). The Canadian decision in 2005 to adopt IFRS is particularly interesting because Canada had well-developed domestic accounting standards and because a significant fraction of Canadian industry was lobbying for the adoption of U.S. Generally Accepted Accounting Principles (GAAP) and not IFRS. The case positions the student as an advisor to an important local politician. Based on cultural, economic, and political information available in 2005, the case requires the student to choose between (1) retaining Canadian GAAP, (2) adopting U.S. GAAP, or (3) adopting IFRS.

    Keywords: Financial Reporting; International Accounting; Cost vs Benefits; Governing Rules, Regulations, and Reforms; Standards; Accounting Industry; Canada;

    Citation:

    Ramanna, Karthik, and Beiting Cheng. "Choosing a GAAP for Canada." Harvard Business School Case 110-023, August 2009. (Revised July 2010.) View Details
  19. Deferred Tax Assets in Basel III: Lessons from Japan

    In a controversial decision, the Bank for International Settlements includes deferred tax assets as part of a bank's core capital.

    Keywords: Accounting; Assets; Capital; Central Banking; Taxation; Banking Industry; Japan;

    Citation:

    Hawkins, David F., Karthik Ramanna, Nobuo Sato, and Mayuka Yamazaki. "Deferred Tax Assets in Basel III: Lessons from Japan." Harvard Business School Case 111-076, February 2011. (Revised July 2011.) View Details
  20. Deferred Tax Assets in Basel III: Lessons from Japan (TN)

    Citation:

    Hawkins, David F., and Karthik Ramanna. "Deferred Tax Assets in Basel III: Lessons from Japan (TN) ." Harvard Business School Teaching Note 112-114, June 2012. View Details
  21. The Future of Financial Reporting

    Multimedia/video case on the SEC's work on improvements to financial reporting. Students review topical audio and video from various sources including SEC footage, and interviews with others involved, such as Bob Pozen, (past head of Fidelity and chairman of the SEC's advisory committee on financial reporting). After reviewing the case materials, students would be asked to put themselves in the shoes of Pozen, and make actionable recommendations on the future of fair-values accounting and principles-based accounting.

    Keywords: Fair Value Accounting; Financial Reporting; Financial Management; Performance Improvement;

    Citation:

    Ramanna, Karthik. "The Future of Financial Reporting." Harvard Business School Video Case 110-701, January 2010. View Details
  22. The Future of Financial Reporting (TN)

    Teaching Note for [110701].

    Citation:

    Ramanna, Karthik. "The Future of Financial Reporting (TN)." Harvard Business School Teaching Note 110-006, January 2010. View Details
  23. I Paid a Bribe (Dot) Com

    Anti-corruption web platform "ipaidabribe.com" leverages the transparency and anonymity of the Internet to encourage private citizens in India who have been the victims of corruption to self-report details of bribes paid, including the bribe amount, the name of the corrupt official, and services rendered. The ipaidabribe.com portal then aggregates these data to create maps and charts of corrupt activities across Indian cities. The theory is that such data will build awareness and shame, raising the cost of corruption. But after initial successes—buoyed by visibility generated from mass street protests against corruption in 2011—traffic to the website has slowed. The question before spouses, ex-bankers, and ipaidabribe.com co-founders Ramesh and Swati Ramanathan is how to generate and sustain interest in the web platform so that they have real impact on retail corruption in India. Possible solutions discussed include teaming up with local governments and police, focusing attention on one or two Indian cities, and franchising ipaidabribe.com internationally to create more visibility.

    Keywords: Crime and Corruption; Web Sites; Ethics; Service Industry; India;

    Citation:

    Ramanna, Karthik, and Rachna Tahilyani. "I Paid a Bribe (Dot) Com ." Harvard Business School Case 112-078, June 2012. (Revised March 2014.) View Details
  24. The IASB at a Crossroads: The Future of International Financial Reporting Standards (A)

    What are the major challenges to the continued growth of IFRS worldwide? Should countries be encouraged to pursue "full adoption" of IFRS or should each country determine its own IFRS "convergence" strategy? Given the limitations of governance and information-intermediation institutions worldwide, should IFRS limit the use of fair-value accounting? How should the IASB respond to the growing power of emerging markets such as China in international standard setting? What lessons can be learned from the growth and development of IFRS for international harmonization of corporate governance standards more broadly? This case first describes the IASB's major accomplishments over the 2001-2010 period and then outlines the major challenges to the continued growth of IFRS as it enters its second decade.

    Keywords: International Accounting; Emerging Markets; Financial Reporting; Global Strategy; Fair Value Accounting; Corporate Governance; Standards; Adoption; Growth and Development Strategy;

    Citation:

    Ramanna, Karthik, Karol Misztal, and Daniela Beyersdorfer. "The IASB at a Crossroads: The Future of International Financial Reporting Standards (A)." Harvard Business School Case 111-084, March 2011. (Revised March 2014.) View Details
  25. The IASB at a Crossroads: The Future of International Financial Reporting Standards (B)

    In late 2012, IASB chair Hans Hoogervorst, just over a year into his term, must address several serious geopolitical challenges that can derail IFRS growth. The SEC has issued a report outlining why the U.S. should not adopt IFRS. Other major economies such as Japan and India begin to dither on IFRS as well. The EU—the IASB's main backer—is embroiled in a debt crisis that divides it; Britain—the strongest voice for IFRS in the EU—flirts with an EU exit. And China remains silent. Adding to these issues are longstanding concerns about the IASB's legal status and its finances. How can Hoogervorst return momentum to IFRS?

    Keywords: accounting; IASB; IFRS; International Politics; standard setting; Accounting; International Accounting; International Relations; Government and Politics; Accounting Industry; Public Administration Industry; China; Europe; United States;

    Citation:

    Ramanna, Karthik, Karol Misztal, and Daniela Beyersdorfer. "The IASB at a Crossroads: The Future of International Financial Reporting Standards (B)." Harvard Business School Case 113-089, January 2013. (Revised March 2014.) View Details
  26. The IASB at a Crossroads: The Future of International Financial Reporting Standards (TN)

    Teaching Note for 111084.

    Keywords: Growth and Development; Strategy; Corporate Governance; Fair Value Accounting; Financial Reporting; Standards; Problems and Challenges; Emerging Markets; Financial Services Industry; China;

    Citation:

    Ramanna, Karthik. "The IASB at a Crossroads: The Future of International Financial Reporting Standards (TN)." Harvard Business School Teaching Note 111-095, March 2011. View Details
  27. IFRS in China

    In 2005, China announced plans to "converge with," but not completely adopt, IFRS. China also began to lobby for changes to specific IFRS provisions, such as for related party disclosures by state-owned firms, to bring them more into line with Chinese interests. China's accounting system had already undergone significant reforms during the two decades when its economy had grown to become the fourth largest in the world. However, enforcement of accounting standards remained weak, the financial system was relatively immature, and large state-owned firms still dominated many sectors of the economy.

    Keywords: Financial Reporting; International Accounting; Corporate Disclosure; Standards; State Ownership; Business and Government Relations; China;

    Citation:

    Ramanna, Karthik, G.A. Donovan, and Nancy Dai. "IFRS in China." Harvard Business School Case 110-037, November 2009. (Revised August 2013.) View Details
  28. IFRS in China (TN)

    Teaching Note for [110037].

    Keywords: Planning; Adoption; State Ownership; Corporate Disclosure; Interests; Economic Growth; Financial Reporting; Standards; Governing Rules, Regulations, and Reforms; Power and Influence; China;

    Citation:

    Ramanna, Karthik. "IFRS in China (TN)." Harvard Business School Teaching Note 110-039, January 2010. View Details
  29. Leadership in Corporate Reporting Policy at Tata Steel

    The case describes the challenges faced by Tata Steel, India's largest private sector steel company, as it transitions from Indian GAAP to IFRS. It first describes those challenges in the context of the institutional voids that make IFRS adoption difficult in India. The case then focuses on how companies in emerging markets might represent their interests at the IASB, the standard setting body for IFRS.

    Keywords: Financial Reporting; International Accounting; Multinational Firms and Management; Policy; Leadership; Emerging Markets; Standards; Organizational Change and Adaptation; Steel Industry; India;

    Citation:

    Ramanna, Karthik, and Rachna Tahilyani. "Leadership in Corporate Reporting Policy at Tata Steel." Harvard Business School Case 111-028, September 2010. (Revised May 2011.) View Details
  30. Leadership in Corporate Reporting Policy at Tata Steel (TN)

    Teaching Note for 111028.

    Keywords: Private Sector; Emerging Markets; Problems and Challenges; Transition; Steel Industry; India;

    Citation:

    Ramanna, Karthik. "Leadership in Corporate Reporting Policy at Tata Steel (TN)." Harvard Business School Teaching Note 111-096, March 2011. View Details
  31. Managers and Market Capitalism

    The last thirty years have seen the widespread embrace of market capitalism as not only a highly efficient form of economic organization but also as one that best meets the diversity of human preferences. In large, complex societies, an increasing body of theoretical and empirical research suggests, however, that the existence of competitive markets rests on strong institutional foundations. This note explores the appropriate role for the general manager, if any, in sustaining these conditions for market capitalism.

    Keywords: Economic Systems; Management;

    Citation:

    Henderson, Rebecca, and Karthik Ramanna. "Managers and Market Capitalism." Harvard Business School Module Note 112-043, January 2012. (Revised March 2014.) View Details
  32. A Politician in a Leather Suit and the Paradox of Japanese Capitalism

    Two lost decades later, capitalism in Japan embodies peculiar contradictions—preserving wealth and social stability in the face of declining economic power. Scant transparency in Japanese corporate practices plays an important role in this phenomenon. Sometimes justified as an embodiment of Japanese culture, the opacity of Japanese corporations is credited with empowering managers to make long-term business decisions that preserve employment and business relationships and maintain social harmony. But opacity also facilitates fraud and corruption, which erode investor confidence and stifle risk-taking. A flamboyant politician, Kotaro Tamura, attempts to raise public awareness around these tensions, but his provocative style earns him few friends in Japan's conservative political establishment.

    Keywords: Crime and Corruption; Economic Systems; Economic Slowdown and Stagnation; Fairness; Values and Beliefs; Corporate Accountability; Corporate Governance; Civil Society or Community; Japan; Tokyo;

    Citation:

    Ramanna, Karthik, and Matthew Shaffer. "A Politician in a Leather Suit and the Paradox of Japanese Capitalism." Harvard Business School Case 113-026, November 2012. (Revised August 2013.) View Details
  33. A Politician in a Leather Suit and the Paradox of Japanese Capitalism

    Two lost decades later, capitalism in Japan embodies peculiar contradictions—preserving wealth and social stability in the face of declining economic power. Scant transparency in Japanese corporate practices plays an important role in this phenomenon. Sometimes justified as an embodiment of Japanese culture, the opacity of Japanese corporations is credited with empowering managers to make long-term business decisions that preserve employment and business relationships and maintain social harmony. But opacity also facilitates fraud and corruption, which erode investor confidence and stifle risk-taking. A flamboyant politician Kotaro Tamura attempts to raise public awareness around these tensions, but his provocative style earns him few friends in Japan's conservative political establishment.

    Keywords: Crime and Corruption; Economic Systems; Economic Slowdown and Stagnation; fairness; Values and Beliefs; corporate accountability; corporate governance; Civil Society or Community; Japan; Tokyo; Japan;

    Citation:

    Ramanna, Karthik. "A Politician in a Leather Suit and the Paradox of Japanese Capitalism ." Harvard Business School Teaching Note 113-139, June 2013. View Details
  34. The Politics and Economics of Accounting for Goodwill at Cisco Systems (A)

    Studies the role of Cisco in setting current U.S. accounting standards for acquisitions and goodwill. Students are asked to analyze an acquisition in the context of an ongoing political debate on mergers accounting.

    Keywords: Goodwill Accounting; Mergers and Acquisitions; Standards; Business and Government Relations; United States;

    Citation:

    Ramanna, Karthik. "The Politics and Economics of Accounting for Goodwill at Cisco Systems (A)." Harvard Business School Case 109-002, July 2008. View Details
  35. The Politics and Economics of Accounting for Goodwill at Cisco Systems (A) and (B) (CW)

    Keywords: Goodwill Accounting;

    Citation:

    Ramanna, Karthik. "The Politics and Economics of Accounting for Goodwill at Cisco Systems (A) and (B) (CW)." Harvard Business School Spreadsheet Supplement 109-702, July 2008. View Details
  36. The Politics and Economics of Accounting for Goodwill at Cisco Systems (A) and (B) Teaching Note (CW)

    Keywords: Goodwill Accounting; Technology; Teaching; Information; Computer Industry; Technology Industry;

    Citation:

    Ramanna, Karthik. "The Politics and Economics of Accounting for Goodwill at Cisco Systems (A) and (B) Teaching Note (CW)." Harvard Business School Spreadsheet Supplement 109-703, July 2008. View Details
  37. The Politics and Economics of Accounting for Goodwill at Cisco Systems (B)

    Studies the role of Cisco in setting current US accounting standards for acquisitions and goodwill. Students are asked to analyze an acquisition in the context of an ongoing political debate on mergers accounting.

    Keywords: Goodwill Accounting; Standards; Mergers and Acquisitions; Business and Government Relations; United States;

    Citation:

    Ramanna, Karthik. "The Politics and Economics of Accounting for Goodwill at Cisco Systems (B)." Harvard Business School Supplement 109-003, July 2008. View Details
  38. The Politics and Economics of Accounting for Goodwill at Cisco Systems (TN) (A) and (B)

    Teaching Note for [109002] and [109003].

    Keywords: Manufacturing Industry; Information Technology Industry; United States;

    Citation:

    Ramanna, Karthik. "The Politics and Economics of Accounting for Goodwill at Cisco Systems (TN) (A) and (B)." Harvard Business School Teaching Note 109-004, July 2008. View Details
  39. The Private Company Council

    Financial Accounting Foundation chairman Jack Brennan is under pressure from private-company interests to set up a new body—the Private Company Council—to determine separate GAAP for private companies. PCC advocates—including the US Chamber of Commerce—argue that traditional US GAAP has too many disclosure and fair-value requirements that impose very high compliance costs on private companies. But there are influential players—including the Big Four auditors—who oppose creating the PCC. They argue that the compliance costs of traditional GAAP are the price of high-quality accounting standards. Balancing these powerful interests, Brennan must make a decision on the PCC; at stake is US GAAP's ability to facilitate capital allocation decisions in the economy.

    Keywords: FASB; leadership; lobbying; political economy; Accounting; Government and Politics; Leadership; Financial Markets; Accounting Industry; Financial Services Industry; Public Administration Industry;

    Citation:

    Ramanna, Karthik, and Luis M. Viceira. "The Private Company Council." Harvard Business School Case 113-045, January 2013. View Details
  40. Rospil.info

    What should business leaders do about corruption? In December 2011, four HBS alumni met to debate how to engage the unprecedented protests against Vladimir Putin's corrupt government, which had erupted in Russia in response to alleged fraud in the recent parliamentary elections. A notable figure in the protests was anti-corruption blogger Alexey Navalny. Navalny used publicly available requests for tender, "crowd-sourcing," and volunteer experts to discover, expose, and encourage prosecution of corrupt dealings by the Russian government. These efforts made Navalny a cause célèbre in Western media and a popular figure with Russia's tech-savvy population. But was Navalny the right figure for business leaders in Russia to organize around? What were the risks of getting involved with a politically volatile activist?

    Keywords: Leadership; Crime and Corruption; Government and Politics; Social and Collaborative Networks; Blogs; Information Industry; Russia;

    Citation:

    Healy, Paul, Karthik Ramanna, and Matthew Shaffer. "Rospil.info." Harvard Business School Case 112-033, February 2012. (Revised June 2012.) View Details
  41. Urban Water Partners (A)

    The case explores a new business venture to bring clean water to residents of Dar es Salaam, Tanzania, who otherwise cannot afford it. Management has enough money to get the company through August 2010 but needs more capital thereafter. An HBS alumnus is interested in investing in the company. Management needs to revisit its financial assumptions; decide on an incentive structure for its proposed network of local water vendors; and put together a pro-forma income statement, cashflow statement, and balance sheet in anticipation of meeting with the investor.

    Keywords: Accrual Accounting; Financial Statements; Business Startups; Social Entrepreneurship; Investment; Performance Evaluation; Dar es Salaam; Massachusetts;

    Citation:

    Ramanna, Karthik, George Serafeim, and Aldo Sesia. "Urban Water Partners (A)." Harvard Business School Case 111-016, August 2010. (Revised January 2013.) View Details
  42. Urban Water Partners (A) (CW)

    The case explores a new venture to bring clean water to Tanzanians who otherwise cannot access or afford it. Management has enough money to get their company through August 2010, but needs more capital. An HBS alum is interested in investing in the company; consequently management needs to revisit their early assumptions, decide on the incentive structure for water vendors in Tanzania, and put together a pro-forma income statement, cashflow statement, and balance sheet in anticipation of their meeting with the potential investor.

    Keywords: Human Needs; Accrual Accounting; Financial Statements; Health Industry; Utilities Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, and George Serafeim. "Urban Water Partners (A) (CW)." Harvard Business School Spreadsheet Supplement 111-701, August 2010. (Revised December 2010.) View Details
  43. Urban Water Partners (A) Spreadsheet Solutions (CW)

    Teaching Note for Spreadsheet (111701).

    Keywords: Performance Evaluation; Accrual Accounting; Financial Statements; Health Industry; Utilities Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, and Georgios Serafeim. "Urban Water Partners (A) Spreadsheet Solutions (CW)." Harvard Business School Spreadsheet Supplement 111-705, December 2010. View Details
  44. Urban Water Partners (B)

    The case explores a new business venture to bring clean water to residents of Dar es Salaam, Tanzania, who otherwise cannot afford it. Management has enough money to get their company through August 2010, but needs more capital thereafter. An HBS alumnus is interested in investing in the company. Management needs to revisit their financial assumptions, decide on an incentive structure for their proposed network of local water vendors, and put together a pro-forma income statement, cashflow statement, and balance sheet in anticipation of their meeting with the investor.

    Keywords: Human Needs; Accrual Accounting; Financial Statements; Health Industry; Utilities Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, George Serafeim, and Aldo Sesia. "Urban Water Partners (B)." Harvard Business School Supplement 111-029, August 2010. (Revised January 2013.) View Details
  45. Urban Water Partners (B) (CW)

    Supplement to 111029

    Keywords: Food and Beverage Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, and Georgios Serafeim. "Urban Water Partners (B) (CW)." Harvard Business School Spreadsheet Supplement 111-704, December 2010. View Details
  46. Urban Water Partners (B) Spreadsheet Supplement (CW)

    Solution to spreadsheet 111704.

    Keywords: Food and Beverage Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, and George Serafeim. "Urban Water Partners (B) Spreadsheet Supplement (CW)." Harvard Business School Spreadsheet Supplement 111-706, December 2010. View Details
  47. Urban Water Partners (TN) (A) and (B)

    Teaching Note for 111016 and 111029.

    Keywords: Health Industry; Utilities Industry; Dar es Salaam;

    Citation:

    Ramanna, Karthik, and George Serafeim. "Urban Water Partners (TN) (A) and (B)." Harvard Business School Teaching Note 111-067, December 2010. View Details

Working Papers

  1. Managers and Market Capitalism

    In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the political process in an attempt to structure the institutions of capitalism? The prevailing view—perhaps most eloquently argued by Milton Friedman—is that the first duty of managers is to maximize shareholder value, and thus that they should take every opportunity (within the bounds of the law) to structure market institutions so as to increase profitability. We maintain here that this shareholder-return view of political engagement applies in cases where the political process is sufficiently 'thick,' in that diverse views are well-represented and sufficiently detailed information about the issues is widely available. However, we draw on a series of detailed examples in the context of the determination of corporate accounting standards to argue that when the political process of determining institutions of capitalism is 'thin,' in that managers find themselves with specialized technical knowledge unavailable to outsiders and with little political resistance from the general interest, then managers have a responsibility to market institutions themselves, even if this entails acting at the expense of corporate profits. We make this argument on grounds that this behavior is both in managers' long-run self-interest and, expanding on Friedman's core contention, that it is managers' moral duty. We provide a framework for future research to explore and develop these arguments.

    Keywords: Market Design; Economic Systems; Managerial Roles; Government and Politics;

    Citation:

    Henderson, Rebecca, and Karthik Ramanna. "Managers and Market Capitalism." Harvard Business School Working Paper, No. 13-075, March 2013. (Revised November 2013.) View Details
  2. The Auditing Oligopoly and Lobbying on Accounting Standards

    We examine how the tightening of the U.S. auditing oligopoly over the last twenty-five years—from the Big 8 to the Big 6, the Big 5, and, then, the Big 4—has affected the incentives of the Big N, as manifest in their lobbying preferences on accounting standards. We find, as the oligopoly has tightened, Big N auditors are more likely to express concerns about decreased "reliability" in FASB-proposed accounting standards (relative to an independent benchmark); this finding is robust to controls for various alternative explanations. The results are consistent with the Big N auditors facing greater political and litigation costs attributable to their increased visibility from tightening oligopoly and with decreased competitive pressure among the Big N to satisfy client preferences (who, relative to auditors, favor accounting flexibility over reliability). The results are inconsistent with the claim that the Big N increasingly consider themselves "too big to fail" as the audit oligopoly tightens.

    Keywords: Standards; Accounting Audits; Accounting Industry; United States;

    Citation:

    Allen, Abigail M., Karthik Ramanna, and Sugata Roychowdhury. "The Auditing Oligopoly and Lobbying on Accounting Standards." Harvard Business School Working Paper, No. 13-054, December 2012. (Revised August 2013.) View Details
  3. Why Do Countries Adopt International Financial Reporting Standards?

    In a sample of 102 non-European Union countries, we study variations in the decision to adopt International Financial Reporting Standards (IFRS). There is evidence that more powerful countries are less likely to adopt IFRS, consistent with more powerful countries being less willing to surrender standard-setting authority to an international body. There is also evidence that the likelihood of IFRS adoption at first increases and then decreases in the quality of countries' domestic governance institutions, consistent with IFRS being adopted when governments are capable of timely decision making and when the opportunity and switching cost of domestic standards are relatively low. We do not find evidence that levels of and expected changes in foreign trade and investment flows in a country affect its adoption decision: thus, we cannot confirm that IFRS lowers information costs in more globalized economies. Consistent with the presence of network effects in IFRS adoption, we find that a country is more likely to adopt IFRS if other countries in its geographical region are IFRS adopters.

    Keywords: Financial Reporting; International Accounting; Globalized Economies and Regions; Network Effects; Standards; Adoption;

    Citation:

    Ramanna, Karthik, and Ewa Sletten. "Why Do Countries Adopt International Financial Reporting Standards?" Harvard Business School Working Paper, No. 09-102, March 2009. View Details
  4. A Strategic Model and Estimation Procedure for Lobbying on Accounting Standard Setting

    Citation:

    Ramanna, Karthik. "A Strategic Model and Estimation Procedure for Lobbying on Accounting Standard Setting." 2007. View Details
  5. Evidence from Goodwill Non-impairments on the Effects of Unverifiable Fair-Value Accounting

    SFAS 142 requires firms to use unverifiable fair-value estimates to determine goodwill impairments. Standard setters suggest managers will use the discretion given by such estimates to convey private information on future cash flows, while agency theory predicts managers will use the discretion opportunistically. We test these alternative hypotheses using a sample of firms with market indications of goodwill impairment (firms with book goodwill and two successive years of book-to-market ratios above one). We find non-impairment of goodwill is increasing in firm characteristics predicted to be associated with greater managerial discretion. We also find evidence that the discretion is being used in a manner consistent with agency-based predictions. The evidence does not confirm managerial discretion is being used to convey private information.

    Keywords: Fair Value Accounting; Goodwill Accounting; Standards; Agency Theory;

    Citation:

    Ramanna, Karthik, and Ross L. Watts. "Evidence from Goodwill Non-impairments on the Effects of Unverifiable Fair-Value Accounting." Harvard Business School Working Paper, No. 08-014, August 2007. View Details
  6. The Implications of Unverifiable Fair-Value Accounting: Evidence from the Political Economy of Goodwill Accounting

    Keywords: Fair Value Accounting; Goodwill Accounting;

    Citation:

    Ramanna, Karthik. "The Implications of Unverifiable Fair-Value Accounting: Evidence from the Political Economy of Goodwill Accounting." Ph.D. diss., Massachusetts Institute of Technology (MIT), 2007. (Winner of American Accounting Association. Financial Accounting and Reporting Section. Best Dissertation Award presented by American Accounting Association.) View Details

Select Opinion Editorials

  1. On Section 377, A Call to Leadership

    Citation:

    Kothari, S.P., and Karthik Ramanna. "On Section 377, A Call to Leadership." Mid Day (January 31, 2014). View Details