bluuebunny/crossref_metadata_2025 huggingface dataset:
Assurance Services: The Expansion Of The CPAs’ Traditional Services In Local CPA Firms
Authors: Reed Ronald O. , Buchman Thomas
Published: February 2016

The accounting profession has and is undergoing change in the traditional services that they are providing to their clients. This change is due to market and technological factors, such as: com- petition in the industry, demand for timely and relevant information for decision-making, de- mand for reliability of that information, and many other factors that are a result of the shift into an information and service oriented society. The profession is trying to change with these con- ditions. In 1993, the AICPA identified attestation services as the area earmarked for growth. Today, attestation services have been expanded into a new area of services referred to as, assur- ance services. Assurance services are considered the wave of the future, as well as, the lifeboat needed to keep the profession afloat. This study surveys local CPA firms in order to determine if they are changing and moving into the new assurance services area. This study addresses whether local firms are following the projected slow growth trend towards attestation and away from historically financial services. Also, this study addresses the research results of the Special Committee on Assurance Services to determine whether local CPA firms are performing assurance services, whether they are expe- riencing growth or decline in specified areas, and whether they are using the suggestions and recommendations of the Assurance Services Committee. The results indicate that attestation services appear to be continuing to grow at the modest growth trend that was projected in the 1993 study. There has been and appears that there will continue to be a move toward more attestation services, but that traditional services will still be very important. However, the assurance services are not experiencing the same sort of growth as attestation services. This lack of growth could be attributable to several factors.
The Wealth Effect Of The Stock Market Revisited
Authors: Shirvani Hassan , Wilbratte Barry
Published: February 2016

This paper provides evidence that wealth in the form of stock ownership affects consumption and that the stock wealth effect has increased significantly. Using a consumption function expanded to include wealth as well as income, the paper first confirms that the data indicate the presence of a wealth effect. Then, the paper tests for a break in the relationship and finds that for stock wealth only, the consumption coefficient increased in the early 1990s.  
Viticulture, Wine Production, And Agriculture In Armenia: Economic Sectors In Transition
Authors: Scannell Nancy J. , Newton Judy G. , Ohanian Rubina
Published: February 2016

This paper focuses on perhaps the oldest branches of economic activity of Armenia viticulture and wine production. Accounts of vines and wines in Armenia are part of a larger story of the country’s agriculture industry. This paper pulls together the historic landscape and present state of affairs of the industries, revealing the significant roles agriculture, viticulture and winemaking have played in shaping Armenia and that they continue to play in sustaining the country’s standard of living. From ancient roots, through a transitional era of privatization and into modern times, the story of agriculture as a whole, grape-growing specifically, and wine production in Ar- menia is one of survival much like that which characterizes the lives of the Armenian people themselves across scores of centuries.
Convergence Of Market Shares In The U.S. Cigarette Industry
Authors: Gallet Craig A.
Published: February 2016

Many studies examine the degree of rivalry in an industry by utilizing measures of market share instability, with greater (lesser) volatility of market shares coinciding with greater (lesser) rivalry. This short paper extends this line of research by addressing long run instability of market shares. In particular, we test for the convergence of market shares in the U.S. cigarette industry using unit root procedures. Our finding that market shares for pairs of firms rarely converge suggests that market shares are unstable in the long run. Hence, rivalry has remained quite intact in the cigarette industry.
Communication With The SAS 58 Auditor’s Standard Report: An Exploratory Study
Authors: Gist Willie E. , Shastri Trimbak , Ward Bart H. , Wilson Darryl D.
Published: February 2016

In a field experiment, the authors examine whether three alternative versions of the auditor’s standard report communicate effectively the cognitive dimensions of understand-ability, engagement risk, and needed accommodation to a user group (investment and banking professionals) and an expert group (audit partners and managers). The study focuses on the mandated SAS 58 (AICPA 1988) three-paragraph auditor’s standard report (SR), the previously mandated two-paragraph auditor’s standard report (OSR) and a modified auditor’s standard report (MSR) more in harmony with the stated auditor’s responsibility for detecting fraud, as mandated by SAS 53 (AICPA 1988b) which was subsequently superceded by SAS 82 and SAS 99. The results indicate that both auditors and users are consistent in their belief that the SR represents an enhancement in understandability of the audit message over OSR, and that a format along the lines of MSR would not have represented an improvement over the SR format given the inconsistencies in ratings between auditors and users of the MSR (which contains explicit language relative to fraud). Specifically, auditors’ perception of engagement risk associated with the MSR is much higher than users’ perception and the demand for needed accommodation (additional information) is also greater for auditors than users. Overall, the results suggest that the ASB was effective in responding to the user needs with respect to the message communicated in the auditor’s report, a critical link in the financial information reporting process. This investigation has the potential to inform policy-making bodies concerned with adopting a report standard that fairly communicates the risks borne by both auditor and user groups.
Emerging Equity Markets: To Invest Or Not To Invest?
Authors: Garza-Gómez Xavier , Metghalchi Massoud
Published: February 2016

Numerous studies suggest that investors diversifying their portfolios with equity of emerging markets benefit from increased returns and/or reduced volatility. Using a 16-year sample from 1988 to 2003, we test this assertion and find that ex-post benefits to U.S. investors in this period are small. Our tests show that the improvement in portfolio performance is not consistent through time, and it is statistically significant only when we restrict our analysis to some regions and/or specific time periods. We find that the lack of significant gains of diversifying into emerging markets is caused by problems with the two main sources of diversification benefits: contrary to expectations, emerging markets have low relative realized returns and their correlation with the U.S. stock market has increased over time.
If We Could Choose The Way We Pay: The Impact Of Decision Complexity On Tax Scheme Preference
Authors: Katz Jeffrey P. , Ott Richard L.
Published: February 2016

A continuing debate exists about how the complex U.S. tax code has resulted in counter-productive business decisions. Our study examines how tax policy impacts taxpayer decision-making. We present a model addressing factors impacting taxpayer decision-making and test our resulting hypotheses using an experimental design drawn from industrial and organizational psychology. We find that the context of the taxpayer's personal situation significantly affects the decision to favor changes in tax policy. Consistent with our hypotheses, we find that taxpayers having a more complex tax situation will tend to support a tax simplification proposal less than those with simpler tax situations. Our study provides unique evidence that taxpayers having more complex tax situations feel more in control of their decisions under the existing tax structure than those having simpler tax situations. Implications for decision-making researchers and tax policymakers are offered.
Diversity In Analyst Coverage
Authors: Branson Bruce C. , Pagach Donald P.
Published: February 2016

This paper examines the effect of intra-industry "earnings informativeness" and proprietary firm information on variation in security analyst coverage within industries. Earnings informativeness is defined as the extent to which privately developed or obtained information about one firms' earnings provides useful information about the earnings of its industry co-members. Proprietary information provides signals concerning future firm profitability, relative to industry competitors, resulting from such factors as new product developments and innovations in production processes. The results reveal that levels of analyst coverage relative to mean levels of industry-specific analyst interest is significantly positively associated with intra-industry earnings informativeness and size-adjusted annual research and development expenditures (a proxy for proprietary firm information). The findings also show that certain determinants of analyst coverage (e.g., firm size and institutional ownership) identified in the prior literature as explaining variation in aggregate analyst following also hold at the industry level. Finally, the paper examines whether the model variables found to possess explanatory power within industries can also serve to explain observed variation in inter-industry levels of analyst interest and the results suggest that they can.
Leader And Follower Factors In Customer And Employee Satisfaction: It Takes Two To Tango
Authors: Kantabutra Sooksan
Published: February 2016

This study examined relationships between followers’ shared visions, their use of their leader’s vision and their own emotional commitment to the vision, and customer and employee satisfaction, simultaneously taking into account vision communication on the leader’s part, in one hundred and eleven retail apparel stores. All were directly associated with customer and employee satisfaction. Among a few studies endorsing the critical role of followers in modern organizations, the study suggests important managerial implications for aspiring leaders.
Employee Stock Options And Market Efficiency
Authors: Laux Judy A. , N’Dir Abdou
Published: February 2016

This study investigates market reaction to SFAS 123 Revised, “Share Based Payment,” which requires companies to recognize the fair value of employee stock options as expense on the income statement. Using a sample of 128 firms for the 2004 and 2005 periods, we find that markets have efficiently incorporated information formerly disclosed only in footnotes to the financial statements, effectively nullifying the argument that formally recognizing the expense would have a deleterious effect on stock prices of firms offering this type of compensation.
Application Of Media Richness Theory To Data Collection
Authors: Wright Beverly , Schwager Paul H. , Donthu Naveen
Published: February 2016

Researchers and practitioners are becoming more dependent on electronic means of data collection. This study utilizes media richness theory (MRT) as a means to better understand respondent performance in data collection among adults and adolescents. Examining the differences between paper and pencil, interview and electronic form methods of data collection, the results of this study indicate that matching task type to data collection method according to MRT principles produces improved levels of response distortion as expected; however, item omissions are not influenced in the manner anticipated from MRT concepts.
A Multilevel Study Of Supportive Leadership And Individual Work Outcomes: The Mediating Roles Of Team Cooperation, Job Satisfaction, And Team Commitment
Authors: Shin Yuhyung , Oh Won-Kyung , Sim Chang-Hyun Sim , Lee Jee-Young
Published: February 2016

Due to increasing empowerment in work teams, team leaders’ supportive role in helping team members perform their tasks is deemed important. The present study aimed at exploring the multilevel dynamics involving team leaders’ supportive leadership and individual work outcomes. Longitudinal survey data were collected from 536 employees in 69 teams of a large engineering company located in South Korea. The results of multilevel structural equation modeling showed that individuals’ perceptions of supportive leadership were positively related to their subsequent task performance, and that this relationship was mediated by team commitment. The relationship between individual-level perceptions of supportive leadership and organizational citizenship behavior (OCB) was mediated by job satisfaction and team commitment. On the other hand, team cooperation mediated the relationship between team-level perceptions of supportive leadership and OCB. These findings provide meaningful insights into multilevel mediation processes involving different levels of supportive leadership perceptions.
Buy The Rumor, Sell The News! What About Takeover Rumors?
Authors: Laouiti Mhammed Laouiti , Msolli Badreddine , Ajina Aymen AJINA
Published: February 2016

This paper attempts to quantify the short-term impact of takeover rumors on target stock prices. The study was conducted on the French stock market between 1997 and 2011 and concerns 200 rumors that appeared in the media (news agencies, newspapers, and Web sites). Our results show that this particular kind of information has a significant impact on the prices of target companies around and after the date of rumor appearance. The best performance of target shares is observed 50 days after the dissemination of the rumors in the media, with an average return of 4%. This performance is mainly explained by three components:  credibility, rumor characteristics, and the anticipated effects of the takeover bid. 
Corporate Governance, Firm Risk, And Corporate Social Responsibility: Evidence From Korean Firms
Authors: Lee Sewon , Kim Young Kon , Kim Kyungho
Published: February 2016

Given that the prior studies on the relationship between corporate governance structures and firm performance are silent on firms’ social responsible roles, this study introduces an integrated model by combining corporate social responsibility (CSR) and corporate governance structures. This model is used to investigate how CSR moderates the relationship between corporate governance and firm risk in a sample of 640 firm-by-year cases for 215 firms listed on the Korean Stock Exchange between 2005 and 2010. The results show that foreign ownership and board size have a significant and negative relationship with firm risk, whereas management ownership and outside director ratio have no significant effect on firm risk. The results demonstrate that CSR partially moderates the relationship between governance structures (especially management ownership and board size) and firm risk. These findings suggest that Korean firms with concentrated ownership structures can leverage CSR activities as invisible assets to achieve more efficient governance structure model. 
Transformational Leadership In Hierarchical Context: A Study Of Gender Differences In The Mobile Communication Sector In Egypt
Authors: Elsaid Abdel Moneim , Mostafa Basant N.S.
Published: February 2016

This paper empirically studies leaders’ gender differences in transformational leadership among both lower and middle level managers while examining the difference between lower and middle level mangers regarding transformational leadership behaviors. A sample of 122 managers from all three Mobile service providers (Mobinil, Vodafone, and Etisalat) currently operating in Egypt are studied. Transformational leadership was measured through five behaviors using the Bass and Avolio (1997) Multifactor Leadership Questionnaire. Leaders self-rated their transformational leadership behaviors. Results showed that there is no significant difference between lower and middle managerial levels in all transformational leadership behaviors. Female lower level managers did not excel significantly in all transformational leadership behaviors. However they exceled only in the idealized attribute dimension while no significant difference between male and female middle level managers was found.
Fresh Apple And Tomato Prices At Direct Marketing Outlets Versus Competing Retailers In The U.S. Mid-Atlantic Region
Authors: Martinez Steve W.
Published: February 2016

This study uses Nielsen Homescan panel data to compare average prices of fresh apples and tomatoes purchased at direct-to-consumer outlets (e.g., farmers’ markets) with prices at grocery stores and supercenters in the Mid-Atlantic region. Compared to grocery stores, prices at direct sales outlets are estimated to be lower, on average, for both tomatoes and apples. Tomato prices at direct sales outlets were also less than supercenter prices in all seasons and subregions. Apple prices paid by consumers at direct sales outlets were comparable to prices paid at supercenters, except for the Maryland/Delaware/New Jersey subregion, where direct sales outlet prices were markedly lower. 
Reducing The Downside Risk Of Not Receiving Anticipated Social Security Benefits By Using Personal Accounts
Authors: Pritchard Robert E. , Potter Gregory C.
Published: February 2016

The government is not obligated to pay Social Security benefits and no one has the right to receive such benefits.  This paper presents the argument that opting for a personal account in conjunction with traditional Social Security is less risky than opting to have all of ones Social Security taxes go into traditional Social Security.  The overall downside risk of receiving lower than anticipated Social Security retirement income is reduced by diversifying to include personal accounts along with traditional Social Security. 
Technical Change And Growth In The Textile Industry: The Nonwoven Sector
Authors: Christoffersen Susan , Datta Anusua
Published: February 2016

We examine the performance of a growing sector of the textile industry: nonwoven fabric mills.  This sector is emerging from what was once a marginal manufacturing sector to become increasingly a focus for the future of textiles in the US.  From disposable diapers to bleach wipes, medical apparel to house wrapping, new products are entering the market; these products are made possible by technological advancements in adhesion techniques, fiber modifications and delivery advancements. In order to better understand these significant industry dynamics, we estimate a translog cost function to calculate the elasticity of substitution between capital, labor, energy and materials and to see how these change over time. Additionally, we track trends in the elasticity of scale and the impact of technological change. Textile manufacturing in the United States is shifting away from commodity products and the innovative nonwovens sector provides a much needed exemplar for future textile manufacturing.
Hysteresis In Unemployment: Panel Unit Roots Tests Using State Level Data
Authors: Mohan Ramesh , Kemegue Francis , Sjuib Fahlino
Published: February 2016

Most studies that use classical unit-root tests in OECD countries support the unemployment hysteresis hypothesis. However, similar classical tests performed on US data yield mixed results, uncovering specification issues. This study uses a number of panel unit root tests, which are known to overcome specification problems, to check the existence of hysteresis in unemployment data from three Massachusetts regions. The empirical results strongly reject a unit root in the unemployment rates, refuting the unemployment hysteresis hypothesis.
Tracking Internal Auditor Salaries: Information From Twenty-One Years Of Research
Authors: Kusel Jimie , Taylor Cynthia
Published: February 2016

This research tracks from 1985 through 2006 salaries and other characteristics of the internal auditing function in the United States.   Prior to 1985, the Institute of Internal Auditors, Inc. (IIA) had no formal way of determining salary levels for internal auditors and providing such data for use in field audit offices.  A survey instrument was designed to obtain salaries and other job market information.  The IIA approved the survey instrument and sent it on a biannual basis to the more than 3000 internal auditing directors who were members of the IIA.  This paper provides tables that track mean level audit director salaries, staff level auditor salaries, and auditor salaries in selected industries and regions of the country through 2006.  Causes for differences in gender salaries are explored.  The paper comments on research findings using the 1990 and 2000 salary data.  That research indicates that overall national statistics may distort gender comparisons of salary levels because adequate attention is not usually given to type of organization, size of organization, and level of director experience.  Salaries for directors, staff level positions, and within selected industries are tracked against the consumer price index and tables indicate the extent to which the profession has maintained pace.  The research indicates that high staff turnover rates combined with more female than male graduates in accounting are currently changing the gender composition of the profession.  At the entry staff level in 2006 there were more women than men hired.   Despite all of the changes in the profession, a majority of the auditors believe their salary is fair, that they are treated as a valued consultant, and would recommend an internal auditing career. 
The Steep Rise Of Gift Card Purchases By The Consumer Is Changing The Method Of Accounting And Reporting Of Gift Card Income By Corporate Retailers
Authors: Feinson Carla
Published: February 2016

The increasing popularity of gift card purchases by consumers and the corresponding increase in gift card sales in the retail industry has triggered changes in accounting disclosures and reporting requirements. The Financial Accounting Standards board, the Security and Exchange Commission and individual state legislatures have all begun to focused their attention on the various issues that are continually coming to the forefront as a result of the continuing rise in gift card transactions. The promulgations of these authoritative bodies have in turn affected the format and wording of the disclosures that are found in the annual reports or SEC filings of publicly held retail companies. An examination of 75 publicly traded retailers not only shows the similarities and differences of how gift card sales have affected disclosures but also how the very nature of gift card contracts and the ramifications of gift card sales has led to so many specific reporting and accounting difficulties.
The Consequences And Public Policy Implications Of Welfare Reform: A Cost-Benefit Analysis Of The Welfare Reform Policy
Authors: Adams Michael O. , Osho Gbolahan S. , Hadnott Crystal D.
Published: February 2016

Welfare reform has been the recurrent subject of heated debate in the United States, culminating in far-reaching legislation in 1996.  Taking the measure of that legislation requires attention both to the broader context of which welfare policy is a part and to the merits of the 1996 law itself.  Ultimately, the success or failure of welfare reform, which evoked a great deal of partisan rhetoric, will be assessed on empirical rather than partisan grounds.  It cannot be determined merely by changes in the size of welfare caseloads.  It is crucial to any piece of legislation to analyze the cost in relations to its benefits.  Most importantly, we must ask: What has happened to the families and children who have left the welfare system?  Personal Responsibility and Work Opportunity Reconciliation Act of 1996 is a successful legislation that needs a little troubleshooting, so it will not be the failed anti-poverty prescription
An Outlook On The Growing Hispanic Market Segment And The Abilities Of The U.S. Banking Industry To Effectively Penetrate The Hispanic Market Segment
Authors: Giese Gina , Snyder David
Published: February 2016

The purpose of this paper is to provide an outlook on the growing Hispanic Market Segment and the ability of the U.S. banking industry to effectively penetrate the Hispanic Market.
The Credit Crunch: The Roller Coaster Ride Continues
Authors: Crawford Peggy , Young Terry
Published: February 2016

Borrowers face tight credit markets after years of easy credit.  This study examines the events that led to the credit crunch and its impact on global economies.
CEO Compensation And Firm Performance: Is There Any Relationship?
Authors: Jeppson Catherine T. , Smith Wayne W. , Stone Ronald S.
Published: February 2016

Recent media and public attention has focused on CEO compensation.  This study looks at the relationship between CEO compensation and several measures of firm performance across a wide variety of industries.  The study used a database of CEO compensation for 200 large public companies which filed proxy statements with the SEC for 2007.  Total CEO compensation consists of:  base salary, cash bonuses, perks, stock awards, and option awards.  The measures of firm performance were:  company revenue, year-to-year change in net income, and year-to-year change in total shareholder return (TSR).  Correlation and regression analysis were used to test various hypotheses.  We expected that total CEO compensation and its components would be directly related to financial measures of company performance.
Is The Wage Gap Between High School And College Graduates Widening? A Panel Analysis
Authors: Afxentiou Diamando , Kutasovic Paul
Published: February 2016

This study examines the wage growth of high school graduates and college graduates. The NLSY-79 data is employed. The data shows that college graduates earn a premium over high school graduates and the premium is widening over time.  A panel regression model was estimated for the years 1982 until 2004. The results show that education has a significant positive effect on wages and it is the primary determinant of the wage gap. Also, age and gender were found to have a significant effect on wages. Testing the impact of occupation, only managerial, clerical, and service jobs had a significant effect on wages.  Production jobs were statistically insignificant as suggested by the labor market polarization theory.
Text Mining e-Complaints Data From e-Auction Store With Implications For Internet Marketing Research
Authors: Chen Kuan C.
Published: February 2016

This study seeks to analyze the effectiveness of the text mining process.  Complaint forums on various consumer report websites will be analyzed using text and data mining software.  Data from feedback forums will be compiled and analyzed using a text miner software program.  The relationships and patterns among keywords and their associations will be cluster-analyzed to gain a deeper understanding of the data. A case study will also be conducted to assay the effectiveness of text mined.  The data of Internet complaint forum, http://www.planetfeeback.com, will be text mined.  The decision to use an Internet complaint forum as the case subject was made because of its easy access and reputation as storage medium for large sources of data.  The main goal of this study is to gauge the effectiveness of text mining.  The complaint forum will be text mined to find relationships.  The results will then be analyzed and then interpreted to determine the effectiveness of the text and data mining process.    
Use Of Earnings Information For Stock Pricing In Different Market Cycles: The Effect Of Discretionary Accruals
Authors: Daneshfar Alireza , Saei Mohammad J.
Published: February 2016

This study examines the association between stock prices and discretionary accruals in different stock market cycles and presents evidence about the discrepancy in prior research that investors were able to identify earnings management in some cases, but not in some other cases. We argue that investors’ reaction to the true nature of EPS changes may be different in different market cycles. We suggests that investors pay less attention to the nature of EPS changes in an optimistic cycle, and are more critical in neutral and pessimistic cycles. Therefore, investors are more likely to detect and count for any earnings management in a neutral or pessimistic cycle than in an optimistic cycle. Using the U.S. quarterly data from July 01, 1997 to June 29, 2001, three market cycles were identified: optimistic, neutral and pessimistic. The test results indicated that the association between discretionary accruals and abnormal stock returns were insignificant in the neutral market cycle, significant and positive in the optimistic cycle and significant and negative in the pessimistic cycle. These findings indicate that investors tend to ignore the income-increasing effect of discretionary accruals on EPS changes in an optimistic market. The finding suggests that a more delegate and technical analysis of EPS changes is required when earnings information is used for stock pricing. It also suggests that a consideration of market cycle effect on investors’ use of EPS could improve the earnings-based ratio analysis. The findings propose that researchers interested in investigating the association between stock prices and earnings management should control for the effect of the market cycle during which their samples are drawn.
2009, The Year Of Diversification
Authors: Ahmadi Hamid
Published: February 2016

Today, no company is safe, no industry is secure, no rating is impartial, no advisor is certain, and no country is immune from economic and financial malaise. The days of optimistically believing the advisors and benefiting from investment in equity markets are long gone. Any recommended asset or a strategy is questioned and everywhere doubts outdo trust.  In these financial dark days, however, few things are still true: rational and logical approaches endure, sound and understandable assumptions hold, diversification works.

Diversification is a simple and yet powerful commonsensical approach to investment. It is easy to do and it works well for small and large portfolios with few or many assets. If one chooses to use diversifications techniques, an important question to ask is whether it is based on data across all time-periods, or over primarily down markets when diversification is most valuable. This study examines the performance of a well-diversified portfolio and compares the results with the performance of other portfolios including an equally-weighted equity portfolio over the down market from April 2, 2007 to April 4, 2009.

Although there still exits a sense of uneasiness in the stock market about equity investing, the above average rate of returns and steady growth of diversified portfolios over the past two troubling years compels investors to consider diversifications again. The main goal of this work is to first examine the performance of several companies and compare their risk-adjusted returns to the returns of indexes, mainly S&P 500, and then compare the performance of a well-diversified portfolio with a balanced equity portfolio. Specifically, this study is going to address whether the performance of a well-diversified portfolio meets or surpasses the performance of a diversified equally weighted portfolio. More importantly the emphasis of this work is to determine whether diversification consistently and significantly contributes positively to the performance of the US equity portfolios.  The asset selection and the optimization process applied to portfolios are identical to maintain consistency and comparability of the results. For each portfolio we used the 2005-2007 daily observations to optimize allocations and we used the 2007-2009 data to evaluate the performance of each portfolio.
Qualitative Analysis In Financial Studies: Employing Ethnographic Content Analysis
Authors: Silverman Henry I.
Published: February 2016

To the extent that relevant variables are well-defined or readily observable, empirical studies in finance typically employ classical investigative techniques and positivistic methodologies to measure and analyze financial phenomena.  Many unanswered questions in modern finance however, rely critically on insight into the behavior or intentions of various agents, for which there may be no easily discernible proxy that lends itself to traditional quantitative analysis. Alternatively then, Patton (1990) notes that qualitative methods may be employed to discover “what people do, know, think, and feel”.  A particularly promising qualitative approach,  recently introduced into financial studies to discover the encoded investment objectives and activities of fund managers, is Ethnographic Content Analysis (ECA).  In this paper, we review the literature on ECA and offer an instructional set on the use of ECA in an analysis of official disclosure documents.
Cost Accounting Implications For Corporate Wellness Programs
Authors: Carruth Paul J. , Carruth Ann K.
Published: February 2016

The health of a company’s employees is a considerable challenge for today’s corporate executives.  The reality of ever increasing healthcare costs has resulted in more companies now recognizing the value of health promotion through employee health and wellness programs.  The potential return on investment is ultimately less turnover, less absenteeism, greater satisfaction in employment, better recruitment, and sustained success of companies. As the workplace is increasingly recognized as a potentially effective site for wellness intervention and employee health promotion, the challenges in offering these types of programs are apparent.  The greatest challenge for employers is to maintain workplaces that provide health-promoting and sustaining policies, programs, and practices.  Employees should have ready access to effective programs and services that protect their health, safety, and well-being.  Wellness programs offered at the work site are one way for corporate America to meet this challenge.
Practical Advice For Individuals Considering Opening A Small Business
Authors: Atamian Rubik , Wagman George R. , VanZante Neal R.
Published: February 2016

Recently developed business models, coupled with today’s complex regional and international commerce environments, complicate the establishment and successful operation of independent small businesses.  Even the smallest of businesses calls for a multiplicity of skills seldom found in one individual.  The purpose of this paper is to provide practical advice to individuals who are contemplating going into business for themselves.  Some of the reasons for small business failures are presented, followed by practical tips for achieving small business success.  Major factors of success include going into business for the right reasons and “planning for success,” including planning for eventual retirement. 
Earnings Management Effect In Different Stock Market Cycles
Authors: Daneshfar Alireza , Zeghal Daniel , Saei Mohammad J.
Published: February 2016

This study examines the association between stock prices and discretionary accruals in different stock market cycles. The study presents evidence for a discrepancy in prior research and shows that investors are able to identify earnings management only in some cases. We argue that investors’ reaction to the true nature of EPS varies in different market cycles. We suggests that investors pay less attention to the nature of EPS changes in an optimistic cycles, and are more critical in neutral or pessimistic cycles. Therefore, investors are more likely to detect and count for any earnings management in the neutral or pessimistic cycle than in the optimistic cycle. The test results indicated that the association between discretionary accruals and abnormal stock returns were insignificant in the neutral market cycle, significant and positive in the optimistic cycle and significant and negative in the pessimistic cycle. These findings indicate that investors tend to ignore the income-increasing effect of discretionary accruals on EPS changes in an optimistic market. The findings suggest that researchers investigating the association between stock prices and earnings management should control for the type of the market cycle from which their samples are drawn.
The Importance Of Gender And Facial Information Science On Information Systems Design
Authors: Reilly Ralph , Nyaboga Andrew , Guynes Carl
Published: February 2016

Facial Information Science is becoming a discipline in its own right, attracting not only computer scientists, but graphic animators and psychologists, all of whom require knowledge to understand how people make and interpret facial expressions. (Zeng, 2009). Computer advancements enhance the ability of researchers to study facial expression. Digitized computer-displayed faces can now be used in studies. Current advancements are facilitating not only the researcher’s ability to accurately display information, but recording the subject’s reaction automatically.   With increasing interest in Artificial Intelligence and man-machine communications, what importance does the gender of the user play in the design of today’s multi-million dollar applications? Does research suggest that men and women respond to the “gender” of computer displayed images differently? Can this knowledge be used effectively to design applications specifically for use by men or women? This research is an attempt to understand these questions while studying whether automatic, or pre-attentive, processing plays a part in the identification of the facial expressions.
Trends Of Accounting Restatements During The Period 2000-2007 And Big Four/Five Auditors
Authors: Chan Kam C. , Farrell Barbara R. , Lee Picheng
Published: February 2016

The objective of this study is to provide further analysis on the trends of accounting restatements during the period 2000-07 and the role of Big four/five auditors. Given the changes in regulatory environment after the enforcement of Section 404 of the Sarbanes-Oxley Act, we find that there is a significant increase in restatements in recent years. We also find that restatements being disclosed in recent years are more serious, however, they are disclosed on a more timely basis. Consistent with the general belief that Big four/five auditors are better quality auditors, we find that they are associated with shorter restatement disclosure lags. In addition, restatements with positive financial statement effects are more likely to be disclosed sooner than those with negative effects.
An Examination Of The Support For Changes In CPE Regulations For Accountants
Authors: Wessels Susan B.
Published: February 2016

This paper investigates the relationship between perceptions of effectiveness of mandatory continuing professional education (CPE) programs and what support, if any, there is for changes in those regulations.  A survey of North Carolina Certified Public Accountants was conducted to determine which of three components of CPE effectiveness was most important and the degree of support for nine possible changes which would either increase the rigor of the regulations or relax the standards.
British Music Industry: A Case Study In Music Piracy
Authors: Mehta Kamlesh T.
Published: February 2016

The case study is about loss of business due to piracy and file-sharing in the music industry in Britain.  According to a survey by Ipsos Inc. (2006), CD piracy cost the industry £165m in lost revenue in 2005 - nearly 10% of total sales.  The survey found that 37 million pirated CDs were sold in Britain in 2005.  The piracy of music in Britain has pinned the British Music Industry (BMI) and the music artists against the internet service providers, the government and the consumers.  The BMI is blaming the Internet Service Provider (ISP) firms for not policing illegal downloads of music and asked them to disconnect people who ignore requests to stop sharing music.  The ISP firms do not see their role as policing the piracy problem and do not agree with BMI.  The BMI is pressuring the government to legislate copyright offenses related to music downloads in Britain.  Also, the BMI wants the consumers engaged in copyright offense of music piracy to be prosecuted for criminal offense in addition to civil offenses.  The consumers disagree with the BMI.  The case study discusses the current actions of the BMI, ISPs and the British Government.
Including Cash Flow Risk In Stock Return Analysis
Authors: West Janet , Laux Judy
Published: February 2016

Despite their prominence in financial theory and practice, the Capital Asset Pricing Model and its critical beta component have failed test after test to explain stock returns.  Research by Campbell and Vuolteenaho cites the misspecification of beta as the reason for this failure.  They measure beta as the sum of two components: a more influential “cash-flow” beta and a secondary “discount-rate” beta.  The current study creates a ratio between the overall beta of a stock and the cash-flow component and uses an ordinary least squares regression model to determine its significance in interpreting overall returns to a stock, hypothesizing that the ratio will better explain returns than the overall beta alone.  The results are mixed but suggest significant explanatory power for the beta range of 0.60 to 0.95.
Managing Workplace Ethics Can Generate Competitive Advantage
Authors: Alford J. Michael , Bebensee Mark A.
Published: February 2016

The many breaches of ethical conduct and violation of laws by high-profile executives which have been reported for several years have focused attention on the way firms manage business ethics and company values.  This paper identifies some of the bottom-line benefits and other benefits of actively managing the business ethics process and recommends practical approaches for developing a program for the management of that process.  It is especially important for all enterprises to review their own situations and to become active in this area. 
Hedge Funds: Do They Do What They Say They Do?
Authors: Mackey Scott P. , Melton Michael R.
Published: February 2016

The purpose of this research is two-fold, to determine if hedge funds follow their stated strategy styles and to examine how hedge funds’ strategy allocations evolve over time in response to changed economic and market conditions.  Our key advance is that we show that standard linear style models like that of Sharpe (1992) can be applied to hedge fund returns as long as the returns of the style indices in the model themselves display the nonlinear option-like characteristics of hedge fund returns.  For our research, the returns of our sample of Funds of Hedge Funds are strongly correlated to the returns of portfolios of hedge fund investment style indices.  In this way, we capture the spirit of Fung & Hsieh's (2002) Asset-Based Style Factors for Hedge Funds.  Based on our results, it appears that the answer to the first question is “somewhat”, while we find ample evidence of significant shifts in allocation among the Fund of Hedge Funds from the first sample period (1997-2001) to the second (2002-2006).  The changes in allocation appear to rationally reflect the changed economic conditions and investment opportunities existing at the time.
The Arrival Of A New GAAP: International Financial Reporting Standards
Authors: Stanko Brian B. , Zeller Thomas L.
Published: February 2016

This article examines the International Accounting Standards Board’s efforts to create greater comparability and uniformity in global financial reporting.   Prefacing this will be an examination of 1) the reasons for past and present inter-country reporting differences and 2) the changes that have affected the governing structure of the international financial reporting environment.  Most importantly, however, this article explores the areas that will be most impacted when companies move to a uniform group of international accounting standards.  An understanding of the accounting regulatory process and the changes underway is important for all businesses professionals, including those in large and small businesses alike, and understanding how to read and interpret the language of business is important to competing in today’s smaller world.
Manufacturing As A Center For The Creation Of Shareholder Value
Authors: Waldron Darryl G.
Published: February 2016

A sample of the best manufacturing firms from Industrial Week’s Annual Survey of Manufacturers (2008-2009) is analyzed within the context of a value driver matrix and free cash flow regime that link manufacturing to important determinants of shareholder value.  The framework for analysis developed in association with this analysis relies on the format advocated by Rappaport (1998), whereby a manufacturing value driver map is derived that isolates those variables generally accepted as determinant with respect to manufacturing performance.  This map is subsequently used to identify that subset of variables that have the greatest impact on value and, in turn, to focus on those micro-value drivers over which operations management has a meaningful level of control.  If superior performance measured in terms of the micro-value drivers is an avenue to manufacturing excellence and the creation of shareholder value, one would expect to see statistically significant relationships between these predictor variables (micro-value drivers) and market value.  Here this proposition is tested by way of a simultaneous reverse entry multiple regression analysis where market capitalization (V0) is treated as a function of a set of manufacturing related micro-value drivers.
The Lasting Effects Of Social Media Trends On Advertising
Authors: Wright Elizabeth , Khanfar Nile M. , Harrington Catherine , Kizer Lee E.
Published: February 2016

Americans are exposed to an astounding number of advertising messages every day.  The result of this bombardment of advertising on society is that consumers have become increasingly resistant to traditional forms of advertising.  After spending millions of dollars on mass advertising that consumers tend to block out and ignore, marketers have re-evaluated their advertising methods and are following holistic marketing concepts that focus on customer relationship marketing and more creative, understated ads instead of in-your-face billboards and loud television segments.  This paper explores social media trends, including social media opportunities and mobile marketing, and the potentially lasting effects that these trends have on advertising.
Social Media In Government: From eGovernment To eGovernance
Authors: Dadashzadeh Mohammad
Published: February 2016

Over the past five years, Web 2.0 has transformed the Internet by allowing previously passive web surfers to become active content creators who want to share. Companies have been quick to jump on the bandwagon to invest in social media in order to engage their customers, and governments have followed businesses in trying Web 2.0 technologies and are now focusing on investments in social media as a part of their IT strategy.  But, should the adoption of social media in government follow the same trial and error approach that business has used? Or, are there inherently different mission-related parameters that dictate different cost benefit analysis for investment in the use of social media in government? In this paper, we consider these questions in light of Accenture’s Public Service Value Governance Framework.
Personal Knowledge Management And Student Learning
Authors: Garner Stuart
Published: February 2016

Students who undertake courses of study at colleges and universities are generally more successful in their learning outcomes if they are able to manage their personal knowledge well and effectively. This paper begins by discussing the meaning of personal knowledge management (PKM) and how it relates to teaching and learning, particularly to a commonly used instructional design framework. Some of the electronic tools that students might utilise are then discussed. Finally several electronic tools that might prove useful to students to aid their PKM are suggested.