Accounting plays a distinct role in a firm's governance system and has evolved in a specific institutional setting over time to meet the contractual demands of various stakeholders. Against this backdrop, we argue that accounting internationalisation affects the contracting system when formal rules from other settings are introduced. To support our argument and to substantiate the interplay of accounting as a contractual device and country-specific institutions, we provide an in-depth case study of one European code-law country, Germany. Here, we place the recent phenomenon of accounting internationalisation into historical-institutional perspective and illustrate how accounting internationalisation has triggered a balancing act between a path-dependent preservation of the traditional contracting role and a moderate move towards valuation-based international benchmarks.

Transjugular intrahepatic portosystemic shunt (TIPS) reduces portal hypertension in patients with liver cirrhosis. The exact cardiac consequences of subsequent increase of central blood volume are unknown. Cardiovascular magnetic resonance (CMR) imaging is the method of choice for quantifying cardiac volumes and ventricular function. The aim of this study was to investigate effects of TIPS on the heart using CMR, laboratory, and imaging cardiac biomarkers. 34 consecutive patients with liver cirrhosis were evaluated for TIPS. Comprehensive CMR with native T1 mapping, transthoracic echocardiography, and laboratory biomarkers were assessed before and after TIPS insertion. Follow-up (FU) CMR was obtained in 16 patients (47%) 207 (170–245) days after TIPS. From baseline (BL) to FU, a significant increase of all indexed cardiac chamber volumes was observed (all P < 0.05). Left ventricular (LV) end-diastolic mass index increased significantly from 45 (38–51) to 65 (51–73) g/m2 (P =  < 0.01). Biventricular systolic function, NT-proBNP, high-sensitive troponin T, and native T1 time did not differ significantly from BL to FU. No patient experienced cardiac decompensation following TIPS. In conclusion, in patients without clinically significant prior heart disease, increased cardiac preload after TIPS resulted in increased volumes of all cardiac chambers and eccentric LV hypertrophy, without leading to cardiac impairment during follow-up in this selected patient population.

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