bluuebunny/crossref_metadata_2025 huggingface dataset:
Does A Business Curriculum Develop Or Filter Critical Thinking?
Authors: Coleman B. Jay , Mason Paul , Steagall Jeffrey W.
Published: February 2016

We investigate whether a business curriculum develops critical thinking ability or at least serves as a filter for critical thinking (i.e., students who cannot think critically tend not to progress toward graduation). We measure critical thinking by performance on the Watson-Glaser Critical Thinking Appraisal Short Form which was administered to a sample of 600 students enrolled in a junior-level operations management course. We find that students who have completed more credit hours score significantly higher than those with fewer hours completed. This advantage appears specifically evident in the areas of interpreting information and evaluating arguments.
Student Learning Styles And Performance In An Introductory Finance Class
Authors: Seiver Daniel Alan , Haddad Kamal , Do Andrew
Published: February 2016

Many academic disciplines have examined the role that variation in Jungian personality types plays in the academic performance of college students. Different personality types tend to have different learning styles, which in turn influence student performance in a variety of college courses. To measure the impact of learning styles on student performance in the introductory finance course, we administered an online Myers-Briggs Type Indicator (MBTI) test to students and then used regression analysis to measure the effects of different learning styles on course performance. We found several significant effects, which have implications for the teaching of introductory finance.
Distribution Effects Of Gasoline Taxes In The South: Comparison Of the Expenditure and Income Approaches
Authors: Fish Mary , Waggle Doug , Kim Hoseong
Published: February 2016

Variations in the spending on gasoline and motor oil by quintiles are determined using both an income and expenditure base. Total expenditure data in relationship to expenditures on gasoline and motor oil in the Southern urban areas in 1990 are a relatively stable percent over the first four expenditure quintiles, 4.4 to 4.5 percent. Using income before taxes, depicts a continual decrease in the percent of income spent on gasoline, as expected. In the Southern states a gasoline tax loses much of its regressivity when permanent income is used as the base, and becomes markedly regressive when income before taxes becomes the basis for determining the tax burden.
A Multiobjective Model For Managing Faculty Resources
Authors: Hermaida Ramadan S. , Hupfer Mary A.
Published: February 2016

During the past 20 years, many state institutions of higher education have faced stringent financial constraints. As a result of these constraints, administrators, legislators and the general public are looking for more critical approaches in evaluating the operational efficiency of higher education institutions. It has become a necessity for higher education institutions to develop planning models for efficient resource allocation for their own survival. The purpose of this article is to present a model for faculty resource allocation at higher education institutions.
Spectral Analysis In Three Dimensions: The Examination Of Economic Interdependence Between New York, London, Tokyo, And The Pacific Basin Equity Marketing Indices
Authors: Lin Shih-Mo , Denning Karen Craft , Chow K. Victor
Published: February 2016

This paper analyzes the use of three dimensional spectral analyses. We highlight the power of this technique by examining the economic interrelationships between Pacific Basin countries, Tokyo, New York and London equity markets. To the best of our knowledge, no research in financial economics has ever employed the spectral technique with greater than two dimensions. Our use of three way spectral analysis, or partial coherence measures, allows us to ferret out the influence of correlated variables, in this case, major world markets (New York, London, Tokyo) before examining the relationship among the variables of primary interest, the Pacific Basin markets. WE hold constant the influence of New York, London, and Tokyo before examining the relationship among Pacific Basin Newly Industrialized countries equity indices to illustrate our methodology. Simulation techniques enable us to document the statistical power of our technique.
Poverty And Childhood Survival Rates In Sub-Saharan Africa
Authors: Okpala Amon O. , Ayadi O. Felix , Gbenedio Pender
Published: February 2016

Life-expectancy at birth is an important indicator of well-being. Most of the nations with very high life expectancy rates are among the economically advanced nations of the world. This fact leads one to infer that mortality differences exist partly due to economic status. The poverty of women and children remain a major developing challenge for all societies, especially the developing nations. Women in Sub-Saharan Africa play a very important role in food production, bearing and raising children, the prevention/treatment of childhood diseases and malnutrition. As such, the education of mothers and household income could help improve family health, and sanitation. The findings here do show that childhood mortality is significantly influenced by female education, household income, and the feeding practices of mothers.
Financial Criteria, Capital Budgeting Techniques, And Risk Analysis Of Manufacturing Firms
Authors: Chadwell-Hatfield Patricia , Goitein Bernard , Horvath Philip , Webster Allen
Published: February 2016

This study examines the impact that capital budgeting considerations has on the average values of various performance measures for a sample of 118 U.S. manufacturing firms. This study also examines whether the variance of performance measures are affected by differing capital budgeting considerations. Results are analyzed with non-paramentric tests for mean and variance differences. The results of this study provide mixed support for conventional financial theory and a sound basis for further investigation into current capital budgeting practices.
The Validity Of The Randomized Response Method In Tax Ethics Research
Authors: Larkins Ernest R. , Hume Evelyn C. , Garcha Bikramjit S.
Published: February 2016

The survey questionnaire often is used to obtain data in research involving tax compliance and tax ethics issues. The use of the randomized response (RR) survey technique has been suggested for mitigating response and non-response biases in studies regarding sensitive issues. This study compares tax preparer responses using a traditional questionnaire to responses using the RR method. The results indicate that RR does not reduce response or non-response biases in the given decision context. Thus, tax preparers may not be good subjects for a randomized response methodology.
A Stochastic Present Value Model In Selecting Risk Management Processes
Authors: Artikis Theodore P. , Voudouri Aggeliki P. , Moshakis John I.
Published: February 2016

The analysis of stochastic present value models provides one of the more powerful techniques applicable to financial decision making under conditions of uncertainty. The paper introduces a present value model for a random payment decomposed into a random sum of continuous positive independent and identically distributed random variables, under a random timing represented as the minimum of a random number of continuous positive and identically distributed random variables. Properties of the corresponding distribution function are established. Moreover, the paper provides applications of the model in selecting risk management processes for a system consisting of a random number of components, each component having a random failure time.
Takeovers And Incentives For Earnings Management: An Empirical Analysis
Authors: Easterwood Cintia M.
Published: February 2016

This study tests the hypothesis that managers of firms that are targets of takeovers systematically increase reported earnings in the quarters immediately preceding and following initiation of the takeover attempt. Using both a modified version of the Jones method and the DeAngelo method, discretionary accounting accruals are examined for a sample of 100 firms that were targets of tender offers between 1985 and 1989, inclusive, and for a control group of nontargets. Results for the quarter ended prior to initiation support the hypothesis. Additional tests performed on the sub-samples of hostile and friendly takeover targets indicate that the results obtained for the sample as a whole are primarily due to the hostile takeover targets. No evidence of earnings management is found in the quarter ended subsequent to initiation.
An Empirical Test Of The View Of Inventory As A Liability In Explaining Financial Distress: A Reply
Authors: Foster Benjamin P. , Sullivan M. Cathy , Ward Terry J.
Published: February 2016

An Empirical Test Of The View Of Inventory As A Liability In Explaining Financial Distress: A Reply
Shareholder Lawsuits and Ownership Structure
Authors: Vafeas Nikos
Published: February 2016

This paper examines shareholder litigation activity in the backdrop of corporate ownership structure.  The main insight of this paper is that shareholder litigation and ownership structure appear to be substitute mechanisms in disciplining management.  Partly consistent with this notion, empirical results suggest that lawsuit-defendant firms have fewer outside blockholders, a lower percentage of unaffiliated blockholdings, and a lower blockholdings-to-blockholders ratio than a set of control firms.
Factors Impacting Small Business Owners Decision Regarding Changes in Customer Base and Geographic Scope
Authors: Hawkins Al , Hunt, Deceased Richard E. , Adams David
Published: February 2016

T-test comparisons of midwestern small business owners indicate that the decisions to change customer base or geographic scope of marketing are primarily influenced by the owner’s tendency to monitor his/her relevant marketing environment, the owner’s willingness to seek outside marketing assistance during the early stages of the business and by whether they initially were significantly higher or lower in their starting base than owners who did not change.  Also, owners who changed their customer base and/or geographic scope were significantly more likely to change the degree of emphasis they gave to their original customers and geographic scope; however, this was not a zero-sum game for those who expanded.
Stock Price Behavior In A Less Devel-oped Market: Evidence From Sri Lanka
Authors: Hasan Tanweer , Samarakoon Lalith P. , Hasan Shahriar
Published: February 2016

This study analyzes price behavior of stocks listed in the Colombo Stock Exchange (CSE) in Sri Lanka using daily closing prices of two indices, the All Share Price Index and the Sensitive Price Index, over the period January 1985 through December 1995.  Results documented in the current study clearly indicate that the CSE does not conform to the weak-form of the Efficient Market Hypothesis.
The Effects Of Self-Efficacy, Assertive-ness, Stress, And Gender On Intention To Turnover In Public Accounting
Authors: Troutman Coleen S. , Burke Kimberly Gladden , Beeler Jesse D.
Published: February 2016

The purpose of this study is to examine the effects of these variables on intention to turnover among public accountants, and to suggest ways to improve retention of both male and female accountants in public practice.  Results indicate that self-efficacy had a direct, positive relationship with male public accountants’ intention to turnover; whereas, self-efficacy had no significant relationship with females’ intentions to turnover.  Assertiveness had a direct, positive relationship with female public accountants’ intentions to turnover, but had no significant relationship with male public accountants’ intention to turn over.  In addition, evidence presented in this paper demonstrates that while stress is higher among female public accountants, and is related to intention to turnover for both genders, intention to turn over is not higher among female public accountants than male public accountants.
Measurement Of Student Ability To Problem Solve In Accounting
Authors: Sheridan Joanne B. , Lord Russell H. , Campbell Michael
Published: February 2016

This paper describes the development and evaluation of a test used to measure accounting-specific problem solving skills in business students in an effort to assess the outcome of a significant curricular revision in the principles of accounting series.  In response to suggestions by the Accounting Education Change Commission (AECC), the accounting faculty at a small, urban university changed the content and method of teaching principles of accounting.  Since a review of the literature did not produce an appropriate instrument for measuring problem solving in accounting that could be administered within one class period and was machine scorable, the authors developed the Accounting Problem Solving Test (APST) and evaluated its reliability and validity.  Results provided consistent and strong support that the APST is a reliable and valid instrument for assessing problem solving ability specific to the subject domain of accounting.  Further use and testing for validity are warranted in situations where teachers are interested in assessing their students’ abilities to problem solve in accounting given changes in teaching strategies.
Integrating The Three Domains Of Employee Commitment: An Exploratory Study
Authors: Bergmann Thomas J. , Lester Scott W. , De Meuse Kenneth P. , Grahn Joyce L.
Published: February 2016

Previous research examining employee commitment has focused primarily on organizational commitment, with a limited number of studies investigating professional and professional association commitment.  In the present study, the effects of satisfaction with human resource practices and employee empowerment on organizational, professional, and professional association commitment were examined.  Overall, the findings support the distinctiveness of each domain.  Satisfaction with human resource practices and employee empowerment exhibited a strong relationship with organizational commitment.  Employee empowerment was more strongly related to professional association commitment than satisfaction with human resource practices.  Professional commitment more closely resembled the pattern of results found with organizational commitment, but fewer significant relationships existed. Several avenues for future research are discussed.
Environmental Accounting: Issues, Reporting And Disclosure
Authors: Hutchison Paul D.
Published: February 2016

With cleanup costs of hazardous wastes expected to run as high as $500 billion to $1 trillion over the next 50 years, environmental reporting and disclosure by firms in the United States during the 2000's will become more prolific.  This manuscript seeks to provide an understanding of the magnitude of environmental issues, a brief history of the EPA, discussion of environmental regulatory acts and enforcement, and reporting and disclosure requirements by the SEC and FASB.
Investment Performance Comparison Between Roth And Traditional Individual Retirement Accounts
Authors: Kutner George W. , Doney Lloyd D. , Trebby James P.
Published: February 2016

With the recent introduction of the Roth Individual Retirement Account (IRA) along with a significantly improved Traditional IRA, there has been considerable interest in comparing the performance of these investment vehicles.  Some confusion regarding these comparisons has evolved.  In this paper we show that this confusion may be attributed to scale and tax differences between the two investment vehicles.  We adjust for these differences by focusing on the after-tax rate-of-return on investment for each IRA vehicle.  We find that performance depends crucially on the relationship between an individual’s tax rates at the time of investment and at the time of withdrawal.
Intra-Institutional Factors That Influence Accounting Research Productivity
Authors: Buchheit Steve , Collins Allison B. , Collins Denton L.
Published: February 2016

This paper examines actionable factors that influence research output of accounting faculty.  Using a regression model, we investigate how internally controllable factors influence both the quantity and quality of research productivity.  We document and quantify how reduced teaching loads, greater research support, longer probationary periods, and proper allocations of time by faculty consistently lead to significantly increased research output.  Depending on the research output metric examined, we also find that fewer teaching preparations, more outside consulting and mentor relationships result in higher output. Our results update and complement the past survey and empirical findings of Cargile and Bublitz (1986), Chow and Harrison (1998) and Fogarty and Ruhl (1997).
New Evidence On The Effectiveness Of The Insider Trading Sanctions Act Of 1984
Authors: Gombola Michael , Lee Hei Wai , Liu Feng-Ying
Published: February 2016

This study examines the effectiveness of the Insider Trading Sanctions Act (ITSA) of 1984 by employing a new approach. This approach examines the effect of ITSA in changing insider trading behavior around seasoned equity offering (SEO) announcements. Results of this study provide strong evidence of deferred net selling by insiders until after the SEO announcement date. Deferred net selling is evident for both the pre-ITSA and post-ITSA periods. We find limited evidence showing that the deferred net selling is significantly increased after passage of ITSA. Any effect of ITSA predominantly affects broad trading, rather than concentrated trading.
Corporate Diversification, Manager's Incentive, And Shareholder Wealth
Authors: Ueng C. Joe , Wells Donald W.
Published: February 2016

This study examines the impact of managers' incentives and corporate diversification on the returns to shareholders of acquiring firms in acquisition activities. Managers' incentives are measured by creating an incentive ratio (IR). The IR is constructed by dividing the market value of the equity holdings of the three managers with the largest equity shareholding within the firm by their annual compensation. We hypothesize that managers with a high IR are more likely to undertake acquisitions that benefit the shareholders of the acquiring firm than are managers with a low IR. We further hypothesize that the acquisition of a firm that is a focused acquisition (i.e., same industry) will produce greater returns to the acquiring firm's shareholders than will diversified acquisitions.  Results indicate significant positive returns to acquiring firms whose managers have high IRs. While diversified acquisitions produce insignificant negative stock returns, focused acquisitions, on average, generate significant positive stock returns for acquiring firms. Results also suggest that managers with a low IR consistently undertake more diversified acquisitions than focused acquisitions, that the group with the combination of high IRs and focused acquisitions produces the highest returns among four groups, and that the group with the opposite combination produces the lowest returns.
Firm Characteristics And Seasoned Equity Issuance Method: Private Placement Versus Public Offering
Authors: Lee Hei Wai , Kocher Claudia
Published: February 2016

This study compares characteristics of firms using the private placement method of issuing common stock with those using the public offering method.  Results show that private placement firms are smaller in size, have more growth opportunities, and have less financial slack than public offering firms.  Their issuance decisions are likely to be driven by their needs for external capital, rather than motivated by overvaluation of their stocks.  These findings are consistent with the information hypothesis, which states that undervalued firms with favorable prospects and little financial slack use the private placement method to resolve the information asymmetry problem when seeking external equity capital. 
The Influence Of Nonaudit Services On Perceptions Of Auditor Independence
Authors: Jenkins J. Gregory , Krawczyk Kathy
Published: February 2016

This paper examines how nonaudit services influence public perceptions of auditor independence.  Recent expansion of these services by public accounting firms has caused some to question whether auditors who provide nonaudit services to audit clients can remain independent of their clients.  However, others view nonaudit services as enhancing the auditor's uniqueness to the client, thus strengthening the auditor's independence.  Given the importance of auditor independence, a survey was conducted to assess the specific influence of six particular nonaudit services on the ratings of auditor independence from members of the general public, professionals from non-Big 5 CPA firms and professionals from Big 5 CPA firms.  Results suggest that an expectations gap may exist between the general public and the accounting profession with respect to how they view the impact of nonaudit services on auditor indpendence.  Implications of the survey as well as directions that future research may take are discussed.
Cost Accounting Standards In Higher Education: Impact Of Required Changes
Authors: Obester Barbara , Widener Sally K. , Mister William G.
Published: February 2016

Beginning in January of 1995, certain institutions of higher education are required to comply with four Cost Accounting Standards and complete a disclosure statement.  This study outlines these changes in cost accounting procedures and provides descriptive comments gathered through a survey of seventy universities with regards to these changes.  Results indicate that complying with the revised rules affords universities the opportunity to review their costing practices and better train employees in costing procedures.  However, the process has been costly in terms of both time and cash expenditures.
A Tax Reform Conundrum: Insights From A Survey Of Tax Professors
Authors: Fleischman Gary M. , Hutchison Paul D.
Published: February 2016

The George W. Bush presidency’s mandate for tax cuts, combined with predictions of substantial budget surpluses during the next ten years, is fueling two related debates:  (1) elimination of the estate tax, and (2) reduction of tax rates by reforming and simplifying the tax code.  This paper uses the results of a survey of accounting tax professors to assess opinions regarding the elimination of the estate tax, as well as, the feasibility of reducing tax rates through reform by using a flat tax.  The results of this study suggest that tax professors do not favor the repeal of the estate tax and are lukewarm to replacing the current tax system with a flat tax.
Litigation Risk Factors As Identified By Malpractice Insurance Carriers
Authors: Linville Mark , Thornton John
Published: February 2016

We examine the application forms of the major insurance companies to identify risk factors associated with non-Big 5 CPA firm litigation. We find considerable agreement among insurers as to the client-specific and firm-specific information they request. Moreover, the information requested by insurers confirms several client-specific risk factors found significant in prior research, and introduces several firm-specific risk factors that should be examined in the future.
Are Insider Sales Always Bad News? Evidence On Large Sales By Key Insiders
Authors: Livingston Lynda S.
Published: February 2016

Investors often scrutinize stock trades by corporate insiders, hoping to infer the nature of any privileged information which may have motivated the trades. Conventional wisdom suggests that sales of stock by insiders reveal negative information; this interpretation is supported by empirical work such as the series of papers by Seyhun. However, this common interpretation fails to distinguish between sales by atomistic insiders and sales by controlling blockholders.  In this paper, I present evidence which suggests that sales by controlling insiders should not be considered bad news. Using both a series of logit regressions and traditional event-study tests, I examine the relationship between a firm's performance and the willingness of its controlling shareholder to sell a significant proportion of his shares. I find that firm value is just as likely to rise on the news of large insider sales as it is to fall, so that large sales need not imply negative private information.  One possible explanation for a positive response to a controlling blockholder's large sale is that such a sale makes the insider vulnerable to meaningful oversight by outside shareholders. Thus, a large sale may be a signal of the insider's willingness to expose himself to shareholder monitoring and discipline. However, regardless of the interpretation, the empirical evidence presented in the paper forces the conclusion that it is inappropriate to interpret all insider sales as bad news: insider sales occur in a variety of contexts, and creating buy/sell rules which ignore those contexts is simplistic and erroneous.
Risk Management Of Shanghai Enterprises With Financial Derivatives
Authors: Yu Eden S. H.
Published: February 2016

Using a survey, this paper examines the practices of risk management using financial derivatives by enterprises in Shanghai. It is found that the use of financial derivatives by Shanghai enterprises is still at its infancy stage. Many enterprises focus on only one or two types of derivatives for managing their business risks. This may be attributed both to the government regulations against speculation and the underdevelopment of the derivative markets in China. 
The Advantages Of An E-Mail Survey
Authors: Shough Stuart , Yates Don
Published: February 2016

In the past, an effective survey encompassing an extensive list of interviewees has always been an extremely time-consuming and expensive undertaking.  And yet, it is the primary method for obtaining reliable data from variable sources data on which sound decisions can be made. Using the telephone to do the survey may be impractical if the respondents reside over a large geographical area.  This process is very time consuming and the cost, in many cases, is prohibitive.  To conduct a survey by mail is also very costly with some survey costs exceeding $1.00 per questionnaire mailed.  Also, the response time is slow and the response rate is low.  Now, there is a new and innovative way to obtain the needed information.  This new method is fast and the cost is negligible.  This new method involves conducting a survey over the internet. This paper describes how a survey was transmitted to some 1,500 CPA firms throughout the United States with a 10% response.
The Business Cycle And Competition In The U.S. Brewing Industry
Authors: Gallet Craig A. , Euzent Patricia J.
Published: February 2016

Recent game-theoretic models of cartel behavior assess the sustainability of cooperation in the presence of demand fluctuations.  Depending on the stochastic assumptions of demand, different outcomes are predicted.  Accordingly, this paper investigates the effects of demand fluctuations on competition in the U.S. brewing industry.  The results show that competition among brewers is greater during periods associated with significant negative shocks to demand, lower observed demand, lower expected future industry profit, and lower advertising.
The Relationships Between Senior Auditor Budget Participation, Job Structuring, Job Consideration And Staff Auditor Time Budget Pressure
Authors: Kelley Tim , Margheim Loren
Published: February 2016

This study employs a two-person model to examine relationships between senior auditor behaviors and staff auditor time budget pressure (TBP). Specifically, the study examined the relationships between staff auditor TBP and (1) senior participation in the audit budgeting process, (2) senior structuring of staff auditor's job tasks, and (3) senior consideration of staff auditors. Senior audi- tor subjects were asked to indicate the extent of their audit budget participation on a specific audit while the staff auditor subjects were asked to respond to questions indicating the extent of senior job structuring and consideration on that same audit. Both senior and staff auditors were asked to indicate their perceptions of the staff auditor TBP on the specified audit. Surprisingly, the results showed no correlation between senior and staff auditors' perceptions of the extent of the TBP faced by the staff auditors on the specified audits. Specifically, greater senior budgetary partici- pation was associated with higher staff auditor TBP perceptions (i.e., positive association) while, on the other hand, senior auditors perceived staff auditors as having less TBP when there was greater senior budgetary participation (i.e., negative association). Finally, less senior job structuring of the staff auditor’s job tasks was found to be associated with greater staff auditor TBP (i.e., negative association) while only mixed evidence of an association between senior auditor consideration and staff auditor TBP was found.
Testing The Convergence Hypothesis Using Time Series Techniques: The Case Of Greece 1971-1996
Authors: Asteriou D. , Karagianni S. , Siriopoulos C.
Published: February 2016

Over the last five years, few issues have proven more controversial in empirical economics than the so-called convergence hypothesis.  This paper considers the issue of convergence across Greek regions, using time series techniques.  Our empirical results support the popular view prevailing in Greece about the existence of dualism across the Southern and Northern regions of Greece.  A possible explanation for this may be the lack of experience that the poor countries (like Greece) have in comparison with the rich ones.  The rich countries have the combined ability to educate themselves as they grow rich and the endogenous ability to accumulate the knowledge upon which these efforts are made.  Also, the same argument can be used as an explanation for the regional differences -the fact that the poor regions do not have previous experience and knowledge for efficient investments.
Importance And Behavior Of Capital Project Benefits Factors In Practice: Early Evidence
Authors: Horvath Philip A. , Hatfield Patty , Hill Donna
Published: February 2016

We extend the capital budgeting literature by identifying capital project benefits factors and relating each factor’s importance to firm and individual decision-maker factors.  We find significant and consistent changes in importance of project benefits factors associated with decision-maker firm-individual factors.  Project benefits such as value, scale, profitability, strategic fit, competitiveness, communications and implimentability importance can be explained by decision-makers' firm size or type, line/staff distinctions, power, experience, and behavioral training.
A Multidisciplinary Approach To Risk Management For Accounting Firms
Authors: Folami Lookman Buky , Jacobs Fred
Published: February 2016

This paper develops an integrated risk management decision framework that provides insights into the many factors that are involved in controlling and managing risk for accounting firms.  Borrowing from the areas of insurance economics, crime and punishment, accounting, and organization theory, factors are identified that affect the demand for risk reduction.  The interaction and application of three different components of risk reduction (market insurance, self-insurance, and self-protection) within the context of risk reduction decision-making are examined.
The Effect of Price Regulation on Innovation in the Pharmaceutical Industry
Authors: Troyer Jennifer L. , Krasnikov Alexander V.
Published: February 2016

The empirical relationship between pharmaceutical industry revenues and pharmaceutical industry innova- tion is estimated, allowing for an exploration of the impact of the Medicaid rebate program, a form of price regulation. Using the empirical results, the opportunity cost of the Medicaid rebate program is found to be as high as four new drug approvals annually. Given the increased interest in a Medicare drug benefit, regu- lators should be aware of the hidden cost of price regulation for pharmaceuticals.
The Valuation Of Discretionary Accruals And Antitrust Merger Investigations
Authors: Makar Stephen D. , Alam Pervaiz
Published: February 2016

This study explores the impact of managerial discretion on the information content of reported earnings.  In particular, we extend the prior research by examining the pricing of discretionary accruals for firms subject to antitrust merger investigation.  To date, the empirical evidence on managerial discretion and earnings informativeness has been limited, and the pricing of discretionary accruals in the earnings management context of antitrust merger investigations has not been examined.  We address this gap in the literature, and provide results that are consistent with our expectations. Specifically, the evidence indicates that investigated firms’ discretionary accruals are priced by the stock market, and that such earnings components have incremental information content regarding future profitability.  In contrast, as expected, the accruals of non-investigated firms are not value-relevant.
Information Sharing And Its Link To Organizational Sub-Cultures In A Manufacturing Company
Authors: Powell Toni
Published: February 2016

This study examined the cultures of two organizational departments and the relationship between their cultural norms and the effectiveness of their departmental information sharing systems. The findings indicated that (1) the two departments, described for the purpose of this study as “sub-cultures,” had developed conflicting norms which appeared linked to their departmental information sharing effectiveness; (2) during an organizational change process that involved rotation of department managers, workers underwent a three-stage change process identified as unlearning-boundary spanning-re-framing, similar to Lewin’s unfreezing model.  These findings suggest that (1) department managers can play a major role in the learning and development of employees and should be supported in doing so; and (2) the organization consider a more holistic structure, where common language and mental models could alleviate and possibly eliminate the confusion and misinformation resulting from organizational sub-cultures.
Financial Statement Outcomes When Alternative Derivative Hedging Designations Exist
Authors: Wilson Arlette C. , Clark Ronald L. , Pugh William
Published: February 2016

When alternate reporting methods exist, financial statement preparers tend to select methods that provide more favorable results.  Certain hedging transactions may be designated as either a fair value hedge or a cash flow hedge.  Both designations achieve the objective of matching the gain  on the derivative with the loss  on the hedged item in the same reporting period.  However, the cash flow hedge accounting tends to create a greater appearance of equity volatility. 
Exchange Rate Volatility: Asymmetric Effects
Authors: Dobano Lucy
Published: February 2016

This paper studies the evolution of the daily exchange rates volatilities of five european currencies against the US dollar. The aim of this paper is to perform whether there are common factors in the evolution of these exchange rates flexibles during stability and unstability periods. Several alternative models have been proposed in the literature o to the model time varying volatilities. In this paper, we fit two parametric models, GARCH and GJR-GARCH for the years 1992 to 1993 and 1995 to 1997. We will show how these models within-sample estimates of volatility can be captured asymetric effects of news, specially in periods with high speculation. Summarizing, we can conclude that these results have the atractive over the exchange rate flexible markets, particularly in the risk premium exchange rate manage.
Seasonal Stock Return Patterns In The Seven Industrialized Nations
Authors: Patel Jayen B. , Evans Dorla A.
Published: February 2016

The paper extends research on the January effect on the G7 countries by evaluating it by decade through 2001.  The January effect peaked during the 1970s and is smaller and less common in recent years.  The data reveal a marked seasonal return pattern with higher returns in December through May than in June through November.  The pattern, not related to the January effect, is more common in recent years.  
Disclosure Of Nonaudit Services Fees: Perceptions Of Investors And Accounting Professionals
Authors: Jenkins J. Gregory , Krawczyk Kathy
Published: February 2016

This study examines investors’ and accounting professionals’ perceptions related to the necessity and form of disclosure of nonaudit service (NAS) fees pursuant to the Security and Exchange Commission’s Final Rule on auditor independence. A between-subjects design was used to examine participants’ opinions as to the need for disclosure of the performance of NAS and the particular form of disclosure that was preferred. The design incorporated four types of NAS (actuarial services, internal audit outsourcing, legal services, and software training), two levels of materiality (40 percent and 3 percent), and three categories of participants (non-Big 5 CPA firm professionals, Big 5 CPA firm professionals, and investors). A larger percentage of investors favored disclosure of NAS fees than either non-Big 5 CPA firm professionals or Big 5 CPA firm professionals. In addition, of those who favored disclosure, investors favored disclosure of the amount of NAS along with the total audit fees, regardless of the amount, while non-Big 5 CPA firm professionals and Big 5 CPA firm professionals both favored disclosure of the amount of NAS alone and only if those services exceeded a specified threshold. The investor results lend support to the SEC’s revised auditor independence rules.
Monetary Policy And Stock Returns: The Case Of Turkey
Authors: Sari Ramazan , Malik Farooq
Published: February 2016

This paper investigates how much of the variance in stock returns can be explained by monetary policy for the case of Turkey. We extend the work of Ewing (2001a) for the case of Turkey by using the newly developed generalized forecast error variance decomposition technique [Koop et al. (1996), Pesaran and Shin (1998)]. Results suggest that the growth rate of money supply contain significant information for predicting variance of future forecast errors of stock returns. The results provide information which is important for building accurate asset pricing models, forecasting future stock market volatility and furthers our understanding of stock market behavior in Turkey.
Job Selection Preferences Of Business Students
Authors: Iacovou Charalambos L. , Shirland Larry , Thompson Ronald L.
Published: February 2016

To assess the job selection preferences of business students, two hundred forty one undergraduate and MBA students participated in a survey evaluating the importance of 20 job attributes. Overall, the students rated growth potential, benefits package, job responsibility and variety as the most important attributes when pursuing an employment opportunity.  The results indicate that graduate business students are more concerned with work culture, flexibility and ease of commute and less concerned with company recognition compared to undergraduates.  The findings also show that work culture seems to be especially relevant to female MBA students, while geographical location seems to be least relevant to male MBA students.  Our results suggest that, to be effective with their recruitment efforts, employers and placement professionals must take into account both key desirable job attributes and the unique needs of their targeted business student sub-populations. 
Basic Characteristics Of The Greek Export Enterprises That Penetrate In The Central And Eastern European Countries (CEECS): An Empirical Investigation
Authors: Karagianni Stella
Published: February 2016

This paper deals with a particular aspect of Greek export trade with the CEEC countries.  More specifically an outline of Greek exports evolution to these countries is being attempted. Parallely, having as a base the data provided through field work – carried out in a representative sample of Greek enterprises active in the area- and with the use of Logit models there, was an attempt to lay out the basic characteristics of Greek enterprises which are progressively increasing their export activity to these countries Through the econometric application we concluded that enterprises which increase progressively their export activity to the CEEC have relatively big size and relatively great export experience. The location as well as the branch of economic activity appears to be of no influence on the export behavior of those enterprises.
County Poverty: The Case Of Sacramento
Authors: Mogull Robert G.
Published: February 2016

This study serves two purposes.  First, it demonstrates a method of estimating and projecting annual poverty at sub-national levels.  Data are obtained from decennial censuses to form the benchmarks from which poverty is estimated and projected for various demographic groups.  Projections are based upon historical curvilinear trends for each group.  The methodology can be easily applied in a variety of jurisdictional settings and levels.

 

The second objective is to provide a specific portrait of poverty by demographic group within the County of Sacramento in the State of California.  The evidence indicates that, by the end of the decade, the County poverty rate will rise to 16% and the number of poor persons will expand to 216 thousand.  There will be large differences among the various demographic groups in their rates of change.
Sales Force Automation Acceptance: An Exploratory Study Of The Role Of Job Experience
Authors: Guan Jian , Barker Robert M. , Faulds David J. , Gohmann Stephan F.
Published: February 2016

User perceptions of new technologies may ultimately affect their acceptance of that technology. Recent research has identified a clear connection between user perceptions of Sales Force Automation and their acceptance of Sales Force Automation technologies.  Anecdotal evidence suggests that relative to less experienced salespeople, more experienced salespeople tend to have more negative perceptions of sales force automation.  This paper examines the relationship between job experience and perceptions of a sales force automation system.  The results are based on a survey of 1,657 salespeople about their perceptions of several aspects of a sales force automation system in a large sales organization.  This study finds significant differences by sales experience in areas such as perceived productivity/efficiency gain, perception of sales force automation as a micromanagement tool, and user satisfaction with system functionality.  Based on these results several important managerial implications for the adoption of a sales force automation system are suggested.
Management Compensation And Project Life
Authors: Harter Charles I. , Harikumar T.
Published: February 2016

The goal of this paper is to empirically examine the relation between management compensation and project life.  Prior theoretical research suggests that short-term compensation, in the form of bonus plans, have a tendency to induce managers to invest in projects with short lives. Initially, we develop a model that relates management compensation, earnings announcement and project life defined in terms of duration.  Our testable hypothesis states that a greater weight placed on short-term compensation induces managers to invest in projects with shorter duration and is reflected in a lower earnings response coefficient (ERC) for a concurrent earnings announcement. We empirically examine whether there is a relation between type of managerial compensation and ERC. After controlling for the firm's investment opportunity set and other variables known to affect the ERC, we find strong evidence indicating a negative relation between project life and the fraction of short-term compensation in the total compensation package.  This result provides evidence that managers with greater proportionate earnings-based compensation tend to invest in shorter-term projects.
Economic Factors And Individual Investor Behavior: The Case Of The Greek Stock Exchange
Authors: Merikas Anna A. , Merikas Andreas G. , Vozikis George S. , Prasad Dev
Published: February 2016

This study undertook an empirical survey of the factors, which mostly influence individual investor behavior in the Greek stock exchange. The results revealed by our sample of 150 respondents confirm that there seems to be a certain degree of correlation between the factors that behavioral finance theory and previous empirical evidence identify as the influencing factors for the average equity investor, and the individual behavior of active investors in the Athens Stock Exchange (ASE) influenced by the overall trends prevailing at the time of the survey in the ASE.
An Empirical Analysis Of The Effects Of Auditor Time Budget Pressure And Time Deadline Pressure
Authors: Margheim Loren , Kelley Tim , Pattison Diane
Published: February 2016

This study utilized a case method approach to examine the impact of time budget pressure and time deadline pressure on auditor perceptions of stress, key organizational behavior measures, and cognitive problems. The results indicate that increases in both types of time pressures will cause increased stress perceptions by both senior and staff auditors in a nonadditive manner. Specifically, examination of the case means suggested that stress levels are highly affected when one of the two types of time pressure are encountered, with little additional increase in stress when the other type of time pressure is encountered simultaneously.  However, both types of time pressure were found to have individual, additive effects on the auditors’ organizational behavior measures and, to a lesser extent, on the cognitive problems examined in the study. Overall, the results of the study indicate that time pressure cannot be examined generally; rather, it must be decomposed into the individual types of time pressure (time budget or time deadline) to properly understand the effects the specific time pressure is having on auditors.
The Influence Of Operational Cost On The Bank’s Profitability And The Welfare Of Its Clients: A Theoretical Approach
Authors: Varelas Erotokritos , Karpeti Koni
Published: February 2016

This paper deals with the way the rate of operational cost, as a proportion of time deposits, affects the optimal level of a monopolistic bank’s profits as well as the utility of its clients. In particular we prove that the optimal level of banking profits is negatively related to the rate of operational cost, while changes of the latter affect negatively the time deposit rate and positively the lending rate. As a result of these changes in interest rates, the utility of both borrowers and depositors is proved diminished.