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Implicit motives are capacities to experience specific types of incentives as rewarding and specific types of disincentives as aversive (Atkinson, 1957; Schultheiss, 2008). Because implicit motives determine which stimuli are affectively “hot”, they also orient the person's behavior toward those stimuli, energize behavior aimed at attaining (or avoiding) them, and select stimuli that predict their proximity and behaviors that are instrumental for attaining (or avoiding) them (McClelland, 1987).

Purpose – Focusing on reporting for financial instruments, the paper tries to capture the role that regulations play within the complex mechanism of capital markets. The outcome of financial reporting represents useful information for decision making. Meanwhile the mechanisms of the capital markets determine reactions on behalf of accounting regulatory bodies who take action through standard setting. It is these standards that will have a big influence on the aforementioned outcome of financial reporting. Beside, there are other influential factors such as accounting practices, the accounting profession, national history, culture, and economy acting at different levels. It was this reasoning that motivated this research demarche of achieving a complete diagnosis of two emergent capital markets, shaped into a SWOT analysis for financial instruments’ reporting and the current financial crisis.

Design/methodology/approach – A special emphasize is put on analyzing formal harmonization on issues related to financial instruments by performing an empirical study. Moreover, the analysis is completed by a descriptive approach of the influential factors such as economic, cultural, and political background of the two nations. The paper also comparatively positions the foresights of the national, European, and international referential. Statistical indicators help quantifying the similarity and dissimilarity degree.

Findings – In times of financial crisis, when everybody is trying to point his finger on somebody else, an empirical analysis of national accounting regulations proving a high level of formal harmonization with and among the international referential and European directives proves an interesting point. The results make us think twice before designating a scapegoat.

Research limitations/implications – The paper only creates the framework proving that individual experiences should be put into good use especially in an area that is continuously exposed to financial engineering. Further developments completing the study focusing on accounting regulations with accounting practices should indicate more precise actions to be taken.

Practical implications – Findings show a significant similarity level between the two national accounting standards, and most importantly between the international referential and the European accounting regulations, and should determine us to furthermore rationally approach the accounting regulation process instead of impulsive reacting to the current financial crisis.

Original aspects – The originality of the paper consists in offering insights on the specific case of Romania and Czech Republic, correlating the state of facts with the foresights of national accounting regulations, by reference to the international referential and the current financial crisis.

Purpose: The present study is derived from a research project, which aimed to verify how the ECE public network in the state of São Paulo understand young children's agency. Despite ECE national guidelines, some municipalities have decided to use standard textbooks, developed and commercialized by private educational organizations in the format of booklet series. These materials, referred to as Private Systems of Education (PSEs), are the same for all children, based on the idea of normal development and learning.

Methods: The question that guided this inquiry was: why are these materials used? The research was organized in three stages: (1) identification of public educational networks within the State of São Paulo that were using the PSEs in ECE; (2) analysis of the compatibility between the materials offered by PSEs and the ECE national guidelines; (3) interpretation of why these materials are used, considering the new conceptions of childhood and ECE presented in legislation and recently published research.

Findings: Concerning policy-making, the research provides corroborative evidence for how difficult it is to implement a new law. Data also revealed that some municipalities were unprepared to take over ECE. Children's agency, in its turn, is far from the pedagogical proposals. The use of PSEs indicates a contrast between the potential of children and the opportunities that are offered to them. Thus, playing and interaction have no relevant place in everyday education.