Employee Profile

Annelies Renders

Professor - Department of Accounting and Operations Management

Room number A5Y-046
Phone +4793021166
E-mail annelies.renders@bi.no

Biography

I joined BI Norwegian Business School in February 2023. I obtained my PhD from the Katholieke University of Leuven. Prior to joining BI, I was an associate professor at Maastricht University and professor at the Open University in Heerlen. I teach and have been teaching financial accounting courses at both undergraduate and graduate levels. I supervise bachelor and master theses and I supervise PhD students. In 2012, I obtained an NWO VENI grant (€250,000) for my research on banks and the interplay between accounting rules and the calculation of banks’ regulatory capital. I find that the interplay between accounting and regulatory capital rules has unintended consequences, such as suboptimal choices by banks that endanger the stability of the financial system. In 2018, I obtained a NWO VIDI grant (€800,000) and an ASPASIA grant (€100,000) to do research on the macro-economic consequences of accounting standards and accounting information. My research focuses on the unintended consequences of accounting rules and choices. I investigate whether accounting standards generate disclosure overload and whether CEO compensation disclosure has unintended consequences. Another paper examines the “dark side of an industry expert auditor”. As accounting researcher, I find it extremely important to investigate under which conditions accounting rules and choices result in accounting failures. This issue is at the heart of accounting and many of the recent debates in accounting. My papers have been published in The Accounting Review, Review of Accounting Studies, Journal of Accounting Auditing and Finance, and Corporate Governance: An International Review. More recently, my research focuses on CSR and the effects of changes in accounting regulation on employee mental health.

Publications

Scientific publications

Fiechter, Peter; Landsman, Wayne, Peasnell, Ken & Renders, Annelies (2023)

Do industry-specific accounting standards matter for capital allocation decisions?

Journal of Accounting and Economics Doi: 10.1016/j.jacceco.2023.101670 - Full text in research archive

This study examines whether the implementation of industry-specific accounting standards helps capital market participants in making decisions about providing capital to firms. We predict and find an, on average, increase in firms’ capital growth in years following implementation of the relevant industry standard. The increase in capital growth arises primarily from equity issuances and is attributable to the implementation of the standards rather than industry-specific trends or economic shocks. We explore heterogeneity in industry standards and find more pronounced effects for (i) industry standards that reveal new information, provide explicit guidance, or in- crease accounting uniformity, and (ii) small firms, firms with greater information asymmetry, and firms with greater capital constraints before implementation of the standards. We also find evi- dence consistent with two channels explaining the documented increase in capital flows: reduction of information asymmetry and increase in financial statement comparability.

Kvaal, Erlend; Löw, Edgar, Novotny-Farkas, Zoltán, Panaretou, Argyro, Renders, Annelies & Sampers, Peter (2023)

Classification and Measurement under IFRS 9: A Commentary and Suggestions for Future Research

Accounting in Europe Doi: 10.1080/17449480.2023.2253808 - Full text in research archive

This paper discusses several issues that were raised by the International Accounting Standards Board (IASB) in their request for information for the post-implementation review (PIR) of the International Financial Reporting Standard (IFRS) 9: Financial instruments – Classification and Measurement. In doing so, we first review the related academic literature and present empirical evidence on the post-adoption impact of IFRS 9. We then discuss conceptual issues associated with the business model and cash flow characteristics assessment in IFRS 9, as well as issues associated with the presentation of fair value changes in other comprehensive income (OCI) and modifications to contractual cash flows. Finally, we identify gaps in the literature and provide suggestions for future research that can help inform accounting standard setters.

Renders, Annelies; Fiechter, Peter & Novotny-Farkas, Zoltán (2022)

Are Level 3 fair value remeasurements useful? Evidence from FAS 157 rollforward disclosures.

Accounting Review Doi: 10.2308/TAR-2018-0293

Paananen, Mari; Impink, Joost & Renders, Annelies (2022)

Regulation-induced Disclosures: Evidence of Information Overload?

Abacus. A Journal of Accounting and Business Studies Doi: 10.1111/abac.12246

Lubberink, Martien & Renders, Annelies (2020)

Are Banks’ Below Par Own Debt Repurchases a Cause for Prudential Concern?

Journal of Accounting, Auditing and Finance Doi: 10.1177/0148558X17748406

Fiechter, Peter; Landsman, Wayne, Peasnell, Ken & Renders, Annelies (2017)

The IFRS option to reclassify financial assets out of fair value in 2008: the roles played by regulatory capital and too-important-to-fail status

Review of accounting studies Doi: 10.1007/s11142-017-9419-x

Paananen, Mari; Blomkvist, Marita & Renders, Annelies (2016)

Causes and consequences of improvements in the information environment for Swedish small and mid-sized firms.

Accounting in Europe Doi: 10.1080/17449480.2016.1156240

Gaeremynck, Ann & Renders, Annelies (2012)

Corporate governance, principal‐principal agency conflicts, and firm value in European listed companies

Corporate governance. An International Review Doi: 10.1111/j.1467-8683.2011.00900.x

Paananen, Mari; Shima, Kim & Renders, Annelies (2012)

The amendment of IAS 39: Determinants of reclassification behavior and capital market consequences.

Journal of Accounting, Auditing and Finance Doi: 10.1177/0148558X11409151

Landsman, Wayne; Dierynck, Bart & Renders, Annelies (2012)

Do Managerial Incentives Drive Cost Behavior? Evidence about the Role of the Zero Earnings Benchmark for Labor Cost Behavior in Private Belgian Firms

Accounting Review Doi: 10.2308/accr-50153

Gaeremynck, Ann; Sercu, Piet & Renders, Annelies (2010)

Corporate governance ratings and company performance: A cross‐European study.

Corporate governance. An International Review Doi: 10.1111/j.1467-8683.2010.00791.x

Gaeremynck, Ann & Renders, Annelies (2007)

The Impact of Legal and Voluntary Investor Protection on the Early Adoption of International Financial Reporting Standards (IFRS)

De Economist Doi: 10.1007/s10645-006-9041-y

Academic Degrees
Year	Academic Department	Degree
2006	KULeuven, Belgium	PhD

Work Experience
Year	Employer	Job Title
2023 - Present	BI Norwegian Business School	Professor
2022 - 2023	Open University	Professor
2010 - 2023	Maastricht University	Associate Professor
2007 - 2010	KULeuven	Assistant Professor