The sample is predominantly composed of (intermediate)
holdings (64%), but also comprises subsidiaries (34%)
and non-affiliated companies (2%). Regarding the leading
financial GAAP used by the responding firms, the
sample mainly consists of IFRS users (52%), followed by
companies applying German GAAP according to Handelsgesetzbuch/
HGB (40%), and those using US-GAAP (8%). 26%
of the sample companies are listed on the stock exchange.
Summary statistics regarding the sample companies’ sizes
are given in Table 1. The profile of the respondents suggests
that our results may be fairly representative of at least the
causal inferences between an increased integration level
of accounting systems and controllership effectiveness in
major German firms.