During the past two decades, increasing globalization of markets put pressure on the institutional systems, in particular the tax and accounting system in many developed countries and forced significant changes in the structure of the national tax system and accounting regulations. The political debates demonstrate an ongoing interest in the assessment of reform options. In Germany, the debate focuses a) on institutional effects (tax reforms, accounting standards, capital market regulation) on location and investment decisions of multinational companies and fairness and b) on the assessment of tangible and intangibles and its implication for business valuation and decision-making. The Center for Tax and Accounting Research (CETAR), as a research center of competence, is founded to gain valuable insights on the effects of tax, accounting and related regulatory systems on business decisions. Members of CETAR want to bring up new cognitions about reforms being in the light of technical changes and globalization at the interface of research, entrepreneurial action and policy.