bluuebunny/crossref_metadata_2025 huggingface dataset:
Collapsing Stakeholder Groups: Insights Into Professional Sports Organizations And Competitive Positioning
Authors: Tesone Dana V. , Platt Alan , Alexakis George
Published: February 2016

The article investigates the force field stakeholder structure of National Football League (NFL) sport organizations relative to those that provide the domain that governs the management of other medium to large commercial entities. Textual and visual images of the affiliations among the various NFL organizations’ stakeholder groups in the manuscript provide a framework of the stakeholder force field domain. The model presents comparative and contrasting data relevant to typical business organizations of similar size, expenses, and revenue capacity. Finally, the article identifies managerial practices in NFL organizations and provides explanations for these processes applicable to the force field domain under which they are governed. The authors conclude that managerial practices in NFL organizations are contrary to those adhered to in regular commercial enterprises; however, these managerial practices are appropriate for the particular stakeholder force field domain that governs these particular sport organizations, which fosters “collaborative parity.” Future research that delves into areas of major league football’s and other leagues’ evolving economic constructs as they pertain to stakeholder issues such as controlling labor costs, the relocation of a particular team, and the necessity of increasing the volume of existing and emerging revenue streams is recommended.
Away With SWOT Analysis: Use Defensive/Offensive Evaluation Instead
Authors: Valentin Erhard K.
Published: February 2016

SWOT analysis, which delves into a business' strengths, weaknesses, opportunities, and threats, is used widely in firms and classrooms to distill fragmentary facts and figures into concise depictions of the strategic landscape.  Yet despite its popularity and longevity, the SWOT approach to situation assessment often is ineffective.  This article begins with a brief critique of the SWOT framework ­and typical SWOT analysis guidelines.  Thereafter, Defensive/Offensive Evaluation (DOE) is advanced as an effective alternative to SWOT analysis.  Because DOE is more theory-driven, it poses keener questions and promises more illuminating answers.
Macroeconomic Policies And Economic Growth: The Case Of Costa Rica
Authors: Hsing Yu , Baraya Aristides , Budden Michael C.
Published: February 2016

Applying the well-known GARCH/ARCH (Engle, 1982, 2001) model, we find that real output in Costa Rica is positively affected by real M2 money, the expected inflation rate, and the U.S. output and negatively influenced by the depreciation of the colon. Consistent with the Barro-Ricardo (1989) hypothesis, deficit spending does not affect real output. Therefore, the Costa Rican government may need to pursue a balanced budget and maintain the stability of the colon because the costs of currency depreciation outweigh the benefits.  
The Valuation Of Special Items
Authors: Eames Michael J. , Sepe James
Published: February 2016

This research examines the value relevance of GAAP earnings, GAAP earnings excluding special items, and specific special items.  We find GAAP earnings to be less value relevant than GAAP earnings adjusted to exclude special items.  We find mixed results relating to the value relevance of net special items. Considering the value relevance of eight specific categories of special items, only two, in process research and development and merger related costs, appear to be significantly related to firm value.  This suggests that analysts distinguish between types of special items and only specific types of special items contribute to firm value.
A Case Study Of Learning In A Thai Manufacturing Organization
Authors: Lim Lynn L. K. , Laosirihongthong Tritos , Chan Christopher C. A.
Published: February 2016

This study examines the relationships between individual, team and organizational learning of 1103 workers from a Thai manufacturing organization. Individual learning was conceptualized in terms of individuals’ learning strategies and motivation to learn. Team learning consisted of internal team learning and external team learning. Organizational learning was believed to be underpinned by commitment to learning, shared vision and open mindedness. These three levels of learning were inter-related. Thus, individuals who are interested in self development are more likely to contribute positively to teamwork and the benefits from the team learning could flow to the organizational level.  The theoretical and practical implications are discussed. 
Distrust And Dominance In Managing Alternative Work Arrangements: A Micro-Analytic Test Of Transaction Cost Theory
Authors: Adler Terry R. , Isaacs Gabriel D. , Steiner Robert L.
Published: February 2016

Organizations that successfully outsource may see better value-creation in creating a sustainable competitive advantage.  The objectives of this study were threefold:  a) provide a framework for studying the effects of perceived distrust that leads to dominance, b) analyze how opportunism parlays into the concept of dominance, and c) determine if the relationship between outsource partners varies by analyzing transaction characteristics.  Our research shows that firms should take caution to fully understand the effects that contract size has on a firm’s resources. 
2002 Sarbanes-Oxley Act: Privately-Held Companies Implementation Issues
Authors: Reed Ronald O. , Buchman Thomas , Wobbekind Richard
Published: February 2016

Our research was designed to for two purposes: (1) if the provisions of SOX have merit on their own or whether it is just a mandate by legislators, and (2) to determine if privately-held companies currently not required to implement SOX have done so.  In summary, the respondents, who were experienced financial executives with knowledge of SOX and other regulatory governance policies see SOX as an influential piece of legislation.  They see some positive benefits to their organizations with implementation of some of the provisions of the act, such as better financing options, better credit opportunities, and opportunities to take the company public.  Many of financial executives indicated their organizations are implementing provisions in areas where it cost effective as well making “good” business sense.  For example, it is cost effective to implement a formal code of professional conduct for the executives and it does make good business sense.  However they are not asking their CEOs or CFOs to certify the accuracy of financial statements nor to the internal control structure.  Many of the financial managers indicated they are not implementing SOX on a full scale basis because of the cost, time, and that the lack of benefits derived from implementation.
Bootstrap Causality Tests Of The Relationship Between The Equity Markets Of The US And Other Developed Countries: Pre- And Post-September 11
Authors: Hatemi-J Abdulnasser , Roca Eduardo , Buncic Daniel
Published: February 2016

We analyse the causal relationship between the equity markets of the US and those of the UK, Japan, Germany, France, Canada and Australia based on leveraged bootstrap approach developed by Hacker and Hatemi-J (2005). This method overcomes problems of non-normalities and ARCH effects in the data. Using weekly MSCI price indices, we focus our investigation on the period 1998 to 2005 which we divided into two sub-periods to take into account the potential structural break arising from September 11. Our results show that before September 11, there was bi-directional causality between the US and Japan and between the US and Germany. In addition, there was also a uni-directional causality from the US to Canada and from the US to France. After September 11, the only causality was a unidirectional one from the US to Japan and from the UK to the US. Thus, after September 11, the US Granger-caused a fewer number of markets. This could imply that after September 11, the other markets became more efficient in responding to information transmitted from the US market.
Accumulated Human Capital, Unemployment, And Subsequent Wages
Authors: Adamchik Vera , Hyclak Thomas
Published: February 2016

The objective of this paper is to empirically examine the determinants of post-unemployment wages and to identify the underlying economic forces triggering the observed wage setting mechanisms. Specifically, the paper focuses on the impact of accumulated human capital on post-unemployment wages and investigates the following issues: (1) Is formal educational attainment a significant determinant of post-unemployment wages? (2) What type of previous labor market experience (general vs. job-specific) is more valued by a new employer? (3) Are workers who find a new job in the same sector, industry or occupation more likely to retain their specific human capital and, thus, earn higher post-unemployment wages? The 1994-2001 Polish Labor Force Surveys are used as the data source for this study.
California Poverty Without Los Angeles
Authors: Mogull Robert G.
Published: February 2016

This study examines and projects demographic poverty within the state of California without the overpowering statistical dominance of the Los Angeles metropolitan region.  The selected population segments include All Persons, Asians & Pacific Islanders, Blacks, Hispanics and Whites.  One goal is to provide a portrait of net poverty within the state of California.  By the end of the coming decade, poverty is projected to increase 25% to almost 3.8 million persons.  This increase is due primarily to the explosive rise among Hispanics.  A second goal is to demonstrate a methodology that may be easily applied to other sub-national locales, jurisdictional levels and time frames.  The methodology permits computations of annual poverty estimates in the absence of official statistics. 
New Fuzzy Dynamic Evaluation For ERP Benefits
Authors: Wu Berlin , Kao Liping
Published: February 2016

The purpose of this paper is to present a new dynamic approach in the ERP benefits evaluation. We use essential financial indicators to compute the impact of sample entities which performed ERP implementation before March 31, 2003 in China and Taiwan. Different from the traditional evaluation methods, our approach is based on the fuzzy statistical analysis and fuzzy rule based decision support system. From the field study we observe that both in China and Taiwan, the ERP implementation makes a negative impact at the first few years. It is surprising that most enterprises don’t reach the positive performance as they expected.  However, the nuance lies in the fact that with a the long-term, Taiwan shows a significant progress, while in China after ERP implementation it still keeps negatively related performance.
Extent Of Director Involvement In The Strategic Management Process: Does Occupational Background Make A Difference?
Authors: Ibrahim Nabil A. , Angelidis John P. , Howard Donald P.
Published: February 2016

Propositions were tested with original survey data from 224 directors from nineteen hospitals to determine the extent of their involvement in the strategic management process. In most areas, board members whose occupational background is in health care tend to be less engaged than their counterparts whose background is not in health care. Significant differences were observed with respect to broad cross-functional strategic issues and overall hospital performance.  Both groups had limited involvement in setting standards for rewarding top management and evaluating their performance.  The results raise potentially important strategic and ethical dilemmas for hospitals and offer proponents of changes in board composition support for their normative suggestions.    
A Re-Examination Of The Effect Of Job-Relevant Information On The Budgetary Participation - Job Performance Relation During An Age Of Employee Empowerment
Authors: Heath Rebekah Sheely , Brown, Jr. James F.
Published: February 2016

The current study is a substantive replication and extension of Kren’s 1992 study.  Using survey data from 80 executive-level, profit center managers, Kren found that budgetary participation facilitates the acquisition of job-relevant information which, in turn, is associated with improved performance.  Since Kren conducted his study, the work environment has changed; budgetary participation has come to include all levels of employees.  Using self-reported data from 256 employees from Chief Financial Officer to Accounts Payable Clerk, we find that participation in the budgetary process is associated with positive increases in self-reported measures of job-relevant information and self-efficacy (task-specific self-confidence) which, in turn, are associated with positive increases in individual job performance.  The results provide empirical support that the benefits of participation occur at lower levels within the organization as well as traditional upper management levels. 
Long-Term Stability Of Ethnocentric Consumer Attitudes
Authors: Fraering Martin
Published: February 2016

This research conducts the first cohort longitudinal study of the CETSCALE.  Data collected in surveys of Business Administration students in 2000, and the fall of 2005 and winter of 2006 are analyzed to determine whether the ethnocentric attitudes of consumers have changed.  Nonnormal distribution of the data due to kurtosis and severe skewness complicate confirmatory factor analysis, necessitating a three-phased effort to obtain an acceptable construct.  The results indicate that although the mean CETSCALE score decreased two points (from 45.2 to 43.2), the change was not significant at p = 0.05.  This research also confirms that the CETSCALE remains a highly reliable survey instrument, with Cronbach’s Alpha of 0.94 and Composite Reliability of 0.93.  Implications of this study for practitioners and the future study of consumer attitudes toward the purchase of imported products are also addressed.
Board Composition, Structure, And Financial Performance: An Update
Authors: Bosner Kevin
Published: February 2016

In 1998, a meta-analysis of over 60 empirical research studies concluded that there was no demonstrable evidence that either Board of Directors structure or the duality of CEO/Board Chairman roles significantly impacted corporate performance.  This article looks at research done since that time, in light of Enron and other corporate scandals as well as the Sarbanes-Oxley Act of 2002 and the increasing diversity of corporate boards.  Four additional studies, including follow-up work done by the authors of the 1998 meta-analysis, are compared and contrasted. In addition, the results of direct research on twenty Fortune 100 companies is presented. Finally, suggestions for future research in terms of both topic and methodology are provided, along with this author’s learnings from the project.
Macroeconomic Determinants Of Non-Fuel Primary Commodity Price Movements
Authors: Swaray Raymond
Published: February 2016

This paper uses cointegration and error correction modelling techniques to examine the relationship between non-fuel commodity prices and world macroeconomic and monetary variables. The results show that fluctuations in industrial production of OECD countries, real effective exchange rate of the U.S. dollar and oil prices have significant short- and long- run impact on non-fuel commodity prices. In addition, there is evidence of highly significant positive correlation between the index of non-fuel commodity prices and crude oil price. This implies non-fuel commodity-dependent developing countries that are net importers of oil can derive little benefit from upward movements in commodity prices.
Research On Monetary Neutrality: Evidence From Exchange Rate And Trade Balance Of G-7 Countries
Authors: Kim Doh-Khul
Published: February 2016

According to a recent paper by Fisher and Huh (2002), in contrast to a long-run neutrality hypothesis, nominal shocks have long-run effects on a country’s real exchange rate and trade balance. However employing a similar method (VAR) with identical restrictions (long-run neutrality and short-run recursive hypotheses), this paper shows that the effects on the real exchange rate are much shorter in this G-7 country study than what Fisher and Huh (2002) contend. Further, the trade balance improves for a short period of time, from which it can conclude there is a shorter existence of the depreciation effect in response to expansionary monetary shocks, which supports the long-run neutrality hypothesis in an open macroeconomic framework. 
An Empirical Assist In Resolving The Classification Dilemma Of Workers As Either Employees Or Independent Contractors
Authors: Webb Teresa J. , Englebrecht Ted D. , Bisping Timothy O. , Hanke Steven A.
Published: February 2016

The classification of workers as "employees" or "independent contractors" is important because the employer's legal responsibilities vary depending upon the nature of the working relationship. For federal tax purposes, the term "employee" is not clearly defined.  However, the model developed in this study is able to correctly classify 96.6 percent of the judicial decisions (1980-2005) involving the status of a worker as either an employee or independent contractor.  Also, the model demonstrates stability over time and between judicial venues.
Atmospheric Music Fit As A Driver Of Shopper Store Evaluations And Their Behavioral Responses
Authors: Vida Irena
Published: February 2016

This study examines effects of background music fit on consumer evaluative and behavioral responses across two distinct retail formats. Existing body of theoretical and empirical research serves as a basis for development of research hypotheses, which are subsequently tested using store-intercept data of adult shoppers. Covariance analyses reveal insightful implications of study findings for future research and management of retail brands.
The Effects Of Adaptation, Commitment And Trust In Cross-Cultural Marketing Relationships
Authors: Walton James R. , Salazar Ronald J. , Wang Jifu
Published: February 2016

The spread of global business presents distinct challenges for those wishing to develop marketing relationships. Key elements of successful marketing relationships have been explored in the literature and are well understood (Morgan and Hunt, 1994; Walters, Peters, and Dess, 1994; Anderson and Narus, 1990).   This paper expands the understanding of cross-cultural marketing relationships in three ways.  It does so first by empirically testing a model of commitment and trust in an international context. Then the paper presents findings that suggest that cultural adaptation by the focal firm has a significant effect on commitment.   We hypothesize that a firm's adaptation to its partner’s culture significantly effects cooperation in cross?cultural marketing relationships and test the hypotheses by taking a structural equations approach.  This paper finds that efforts made by the firm to adapt to the partner's culture improve relationship performance and that higher levels of Trust lead to higher levels of Commitment and that higher levels of both Trust and Commitment lead to greater Cooperation.
Capital Structure, Short Run Policy, And Performance Of Listed Manufacturing Firms In Greece
Authors: Ananiadis John , Varsakelis Nikos C.
Published: February 2016

Assuming the national culture and the legal tradition of Greece, this paper addresses two questions. First, does the capital structure affect performance in the same way as in the mature economies? Second, does the short run financial policy of the firm affect the performance and under what circumstances? We apply a panel data analysis using data from the Athens Stock Exchange to test for these questions.
The Implementation And Application Of Firm Valuation Models
Authors: Petersen Christian , Plenborg Thomas
Published: February 2016

This study focuses on methodological errors that arise when firm valuation is carried out in practice. Violation of assumptions underlying the valuation models are examples of methodological errors. We analyze valuation spreadsheets from five Danish financial institutions (i.e., stockbrokers and corporate finance departments) in order to trace if firm valuation models are properly applied. We conclude the following: (i) Methodological errors often cause valuation models to generate estimates that differ significantly from the theoretically correct value; and (ii) Firm value estimates were biased due to a variety of methodological errors. The implications of those errors may be significant. Investors are exposed to poor recommendations. Financial institutions such as investment bankers and stockbrokers may be exposed to bad reputation and lawsuits. Accounting firms that do not carry out firm valuation correctly (for example in testing goodwill for impairment) also run the risk of litigations.
 
A Research Note On The Issue Of Non-Articulation And The Method Used To Calculate Net Operating Cash Flow
Authors: Ward Terry J. , Woodroof Jon , Foster Benjamin P.
Published: February 2016

Using a proxy for nonarticulation, prior researchers found evidence that many companies using the indirect method of reporting net cash flow from operations have a significant level of nonarticulation.  The purpose of this study is to determine if companies using the direct method of reporting net cash flow from operations experience significantly lower levels of nonarticulation than companies that use the indirect method of reporting net cash flow from operations.  Results show that companies using the direct method have significantly less nonarticulation than companies using the indirect method.  This finding suggests that the Financial Accounting Standards Board (FASB) should consider requiring companies to use the direct method of preparing the Statement of Cash Flows.
Corporate Governance And Directors’ Remuneration In Selected ASEAN Countries
Authors: Talha Dr. Mohammad , Sallehhuddin Abdullah , Masuod Md Shukor
Published: February 2016

This paper briefly discusses the corporate governance and directors’ remuneration as being practiced by five different ASEAN countries i.e. Singapore, Malaysia, Indonesia, Philippines, and Thailand. Governance is about how an entity is being directed and controlled, while corporate governance is about a system, procedure or mechanism of balancing between directing and controlling business entities’ internal matters and the demand of their external shareholders and stakeholders. The paper summarizes the development of corporate governance and directors’ remuneration in these countries. An attempt has also been made to highlight issues regarding the need of disclosure of individual director’s remuneration, the need of shareholders’ approval on directors’ remuneration, the need of shareholders’ approval on stock based incentive plan, approval of directors’ remuneration by a committee at board level, the separation of role of the Chairmen of Board of Directors and Chief Executive Officers, and the recommended maximum length of period offered to directors. It later focuses on the progress made by these countries in further uplifting their corporate governance practices. The paper also examines some arising pertinent and puts forth some recommendations on how the future direction of the development of corporate governance in ASEAN countries with respect to directors’ remuneration shall take shape.
Revisiting Non-Parametric Exchange Rate Prediction
Authors: Gradojevic Nikola , Caric Marko
Published: February 2016

Given the large body of research addressing exchange rate predictability, the inability of the non-linear model by Diebold and Nason (Journal of International Economics 1990; 28: 315-332) to forecast better than a random walk is puzzling. This paper examines the forecasting performance of Diebold and Nason’s non-parametric model for six major spot Canadian dollar exchange rates for the period 1987-2004. The findings suggest that a more flexible non-parametric estimation technique (artificial neural networks) is required and draw into question the choice of lagged dependent variables as explanatory factors. This paper also proposes a pure microstructure exchange rate model as an alternative to non-linear autoregressive models. Such a model sheds new light on the current evidence on linear/non-linear exchange rate predictability based on market microstructure variables.
Age Management: A New Paradigm In HRM Within Slovenian Enterprises
Authors: Znidarsic Jana , Dimovski Vlado
Published: February 2016

In the recent years a demographic situation in European countries has been mostly characterized by a growing proportion of the older population – a trend that is expected to continue in the future. The implications of this trend are not only present on the macroeconomic level (pensions, later retirement, health problems, etc.) but are more and more approached by the companies due to the aging workforce. Companies are thus introducing new approaches, policies and instruments which are synthetically called age management to accommodate to the situation of the ageing workforce. Age management is thus primarily the companies’ orientation and is proved by the previous research that the essential drivers for the older workers staying active are found within the companies.

The aim of this paper is to highlight the development of age management within Slovenian companies where the practice of age management is still in its early stage. However, we expect that due to the ageing population and the shortages on the labor market one can expect that those practices will receive more and more attention in the future. Therefore, we reveal through the research of the 200 Slovenian companies the existing age management practices such as recruitment practices, training, remuneration, flexible work options, internal culture, and even a companies’ external image.

We analyze the major problems and obstacles that seem to appear in developmental process of the age management implementation in Slovenian companies, and conclude with some recommendations for the future development of the age management. 
Strategic Alliances In Public Accounting Firms
Authors: Ryan Huldah A. , Cante Charles J. , Strittmatter Robert G. , Calluzzo Vincent J. , Maxwell Caitlin R.
Published: February 2016

The decade of the 1990s saw the emergence of the concept of the strategic alliance and its significant growth in both numbers and diversity of alliance areas as well as its impact on business performance in terms of new service or product introductions and/or increases in revenue, profit, volume or market share.  Public accounting (CPA) firms have participated in such alliances especially during times of staffing shortages and seasonal peak periods, but their participation has not been well reported in the literature.  This study examines the state of strategic alliances in public accounting firms.  The topic is particularly relevant now in light of the greater responsibilities placed on management since the passage of the Sarbanes-Oxley Act, and the issuance recently of two Statements of Financial Accounting Standards (SFAS No. 157 in 2006 and SFAS No. 159 in 2007) which give companies the option to report certain financial assets and liabilities at fair value.  These additional responsibilities may include the restructuring and restatement of financial reports to more accurately reflect the financial position and results of operations of a business.  This has resulted in a greater demand for accounting services which some CPA firms were not able to provide.  The findings reveal that participation in strategic alliances enables accounting firms to pool their resources, increase revenues, build a larger knowledge support system to serve a wider clientele, and compete with larger firms both nationally and on a global basis.
IFRS For U.S. Companies
Authors: Persons Obeau
Published: February 2016

Growing acceptance of the International Financial Reporting Standards (IFRS) worldwide and recent actions of the Securities Exchange Commission (SEC) indicate that IFRS could soon become a body of accounting principles generally accepted in the United States of America (U.S.).  It is, therefore, very crucial that investors, preparers, auditors, educators and regulators are aware of how this imminent change would affect them.  This commentary article addresses this timely issue by critically examining: (1) potential benefits of allowing U.S. firms to adopt IFRS, (2) necessary changes related to the IASB and IFRS, and (3) necessary changes to the U.S. financial reporting infrastructure.  It also raises specific concerns that the SEC should consider.
Retaining Older Workers: Fields Of Action – Constituting A Comprehensive Age Management Model
Authors: Znidarsic Jana , Dimovski Vlado
Published: February 2016

The need to improve labor market participation of older people has gained heightened attention in recent years, especially in view of the significant demographic changes the European Union will undergo due to population aging. Besides the macroeconomic level, the implications of this trend are very present on the company level, especially through managing the aging workforce. Companies are thus introducing new approaches, policies and instruments which are supposed to foster higher employment rates of elderly through implementing active aging concept into business and HRM practice. The aim of this paper is to highlight the development of active aging initiatives within Slovenian companies where the practice of age management is still in its early stage. However, we expect that due to the aging population and the shortages on the labor market one can expect that those practices will receive more and more attention in the future. Because of age discrimination, and a longstanding culture of early exit from employment, many organizations in Slovenia, both the workplace and the community, have no experience in positively targeting older workers. Therefore, those looking to respond to workforce aging usually start from a low or non-existent base. Moreover, Slovenian employers are still often reluctant to employ older workers, either because of age stereotypes or because of some very reasonable dilemmas concerning personnel economics. With the aim to help beginners, we have developed a conceptual model, thus providing a useful base for further development of company-specific age management model that suits to the company needs the most. A key message of this paper is that when it comes to good practice, even very small changes can have a positive impact. The paper concludes with some recommendations for the future development of active aging practice, with an emphasize on new HRM approaches, policies and instruments which seem to be of extreme importance when striving to prolong working life.
Corporate Reputation And Technical Efficiency: Evidence From The Chemical And Business Services Industries
Authors: Stuebs Marty , Sun Li
Published: February 2016

Recent financial scandals have created uneasiness in our financial markets. This resulting crisis of confidence increases the importance of reliably assessing firm performance. How can investors and creditors confidently assess firm performance? Can firm reputation provide signals about firm performance and efficiency? The purpose of this paper is to examine the association between corporate reputation and efficiency, a dimension of firm performance. We obtain a measure of a firm’s technical efficiency by using Data Envelopment Analysis (DEA), a non-parametric technique. We use firms from America’s Most Admired Companies list of 2006 as our measure of firm reputation. Results support the hypothesis that firms with superior reputation operate more efficiently than matched firms in the business services (SIC = 73) and chemical (SIC = 28) industries. The results should be of interest to managers who engage in behavior leading to or maintaining a positive corporate reputation. Also, the results can increase individual investors’ confidence in investing companies with superior reputation.
The Value-Relevance Of The Cumulative Effect Reporting Method: Some Evidence In Support Of FAS 154
Authors: Schneider Douglas K. , Kohlmeyer, III James M. , Tibbs Samuel L.
Published: February 2016

The Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 154 (FAS 154), Accounting Changes and Error Corrections replacement of APB Opinion No. 20 and FASB Statement No. 3 (FASB 2005). The retrospective application reporting method of FAS 154 is a significant departure from the cumulative effect method of its predecessor standard, Accounting Principles Board Opinion No. 20 (APB No. 20) (AICPA 1971). This study examines the value relevance of the cumulative effect reporting method used a priori FAS 154. The results indicate that for most years the cumulative effect was not a significant variable in explaining the market value of a firm and there was inconsistency in the sign and size of the coefficient. Accordingly, these results suggest that FAS 154, aside from its other merits, eliminated from financial statements accounting information that was not relevant, thus providing support for the issuance of FAS 154.
Time Pressure, Time Saving And Online Shopping: Exploring A Contradiction
Authors: Alreck Pamela L. , DiBartolo Gerard R. , Diriker Memo , Dover Howard F. , Passyn Kirsten A. , Settle Robert B.
Published: February 2016

Previous survey research revealed that consumers perceived online shopping and buying to be a time saving practice. Paradoxically, they only rarely reported using that tactic to save time, introducing a contradiction. Focus group research and unstructured interviews among active, time-pressured consumers provide partial solutions to the puzzle. Two types of online shopping benefits appeal to two types of consumers: Those experiencing situational time pressure respond well to "time-saving" appeals. Another, larger proportion, whose personal inclinations or personality traits result in time pressure are more interested in doing more tasks quickly or engaging in polychronic activities. These findings suggest online merchants simultaneously promote both time-saving and quicker accomplishment of more tasks. Though they are two sides of the same coin, time-pressured consumers tend to see only one side or the other. Both types of time-pressured shoppers eschew Websites requiring substantial "up-front" investment of time; complex, multi-option initial or home pages, and early insistence for "registration" that requires revealing personal information. This suggests clean, clear, uncluttered introductory pages and delay in urging registration until rapport has been established. Inexpensive, rapid delivery times and liberal return privileges were also highly valued by all time-pressured participants. Cost restrictions limit the degree to which online merchants can accommodate these preferences.
Analyst Following, Corporate Governance And Valuation: Emerging-Market Evidence
Authors: Yu Minna
Published: February 2016

This paper considers analyst following as a substitute way of disciplining companies and examines the joint impact of corporate governance and analyst following on valuation in an emerging-market setting. I find that the interaction of analyst following and corporate governance on valuation is not significant for my whole sample. Breaking down the sample to common law versus code law countries indicates that, only for common law countries, the positive relation between the quality of corporate governance and valuation is weaker for companies with greater analyst following than for companies with lower analyst following. This paper joins the stream of research on the monitoring role of financial analysts. It extends Lang et al. (2004) by examining the joint impact of analyst following and corporate governance on valuation with a proxy of overall corporate governance quality. In addition, the finding from this paper suggests that analyst’s governance role is more pronounced in common law countries of emerging markets where analyst service is in greater need. The results have implications for investors, analysts and managers in the common law countries of emerging markets that firms with weak corporate governance benefit more from having a high level of analyst following in terms of market valuation.
An Empirical Examination Of Pension Rate Estimates: A Benchmark Approach
Authors: Blankley Alan I. , Cottell Philip G. , Hurtt David
Published: February 2016

In this paper, we analyze pension rate choices for a sample of 495 firms over the thirteen-year period from 1994-2006. In recent years, articles have appeared in business publications alleging abuse of the discretion afforded to management in setting pension rates, particularly the pension discount rate and expected rate of return on plan assets. We find that pension discount rate estimates and expected rate of return estimates generally comply with the authoritative requirements, although there appears to be a smoothing effect in setting pension discount rates as well as a lag in fully reflecting economic conditions. We find evidence consistent with discount rate choice being influenced by deteriorating economic conditions, and possibly passage of the Sarbanes-Oxley Act. We also find that, in general, firms’ expected rate of return assumptions tend to reflect their long-run internal rates of return on pension assets, although the recessionary influences in the early 2000s were not fully reflected in the expected rates of return toward the end of our test period. There is also a sizeable minority of firms (approximately 27%) for which their expected rates of return on plan assets consistently overstate their actual, long-run returns.
The Determination Of The Effectiveness Of A Marketing Promotional Activity
Authors: McMillian Norwood , Lucas Stephen R. , Miles Benton E.
Published: February 2016

This paper presents the effectiveness of a promotional effort to increase target-market awareness. The marketing activities included survey design and implementation, conducting focus groups, developing ads, and evaluating the promotional activity. In an effort to acquire knowledge and experience, the students in a class (Promotional Management) were given the opportunity to offer a research service to a client’s products and services. The knowledge obtained by the students will enhance them as they enter the workforce and the experience will aid the students in competing for positions in marketing. The service provided to the client is invaluable because of the pertinent information that was gained about non business majors and the exposure that was gained from the promotional campaign activities.
Misalignment In The Growth-Maximizing Policies Under Alternative Assumptions Of Tax Evasion
Authors: Gupta Rangan , Ziramba Emmanuel
Published: February 2016

Using an overlapping generations monetary endogenous growth model, we analyze the possible misalignment in the growth-maximizing policies if tax evasion is assumed to be exogenous instead of being treated as a behavioral decision of the agents. By allowing for government transfers to affect young-age income, and, hence, a role for monetary policy, besides fiscal policy, in the determination of the agents reported income, we show that the failure on part of the government to realize tax evasion as endogenous, results in higher tax rates, reserve requirements and money growth rate. This, in turn, implies that the economy would end up experiencing lower (higher) steady-state growth (inflation).
An Application Of The Conceptual Model Of Service Quality To Independent Auditing Services
Authors: Turner Karen F. , Bienstock Carol C. , Reed Ronald O.
Published: February 2016

Auditing’s expectations gap has been documented over the last 35 years beginning with Liggio (1974) who initially coined and defined the term.  Porter’s (1991) and Australian Education Research’s (2009) models explored this gap.  However, these models don’t recognize the auditors’ three customer groups: auditees, the public, and regulatory agencies.  Additionally, these models don’t consider communication’s role between auditors and their customer groups.  The  following discussion applies the service quality model (SERVQUAL) developed by Parasuraman, Zeithaml and Berry (1988 and 1991) to the audit expectation gap and makes recommendations for researching the components, causes, effects of and solutions to the auditing expectations. This model identifies expectation gaps between the service provider (the auditor) and its customers including the auditee, the financial statement user, and the regulatory agencies.  Nyeck, Morales, Ladhari, and Pons (2002, p. 102) concluded in a review article of SERVQUAL research”. . .the SERVQUAL model remains the most complete attempt to conceptualize and measure service quality.”
Examining Retailer And Consumer Perceptions In Determining Economic Expectations: A Demonstration With The 2008 Holiday Season
Authors: Eastman Jacqueline K. , McKay Benjamin P. , Forehand Jacob
Published: February 2016

Two stratified probability samples were conducted in the southeastern United States, one of consumers and one of retailers, to measure economic perceptions in the fall of 2008. Direct comparisons were made between consumers’ and retailers’ perceptions in the areas of the economy, financial soundness, cost of living, and planned consumer holiday spending.  The results suggested that retailers and consumers held similar negative perceptions in terms of the state of the economy.  Consumers though felt less financially sound than retailers did.  Additionally, consumers felt the cost of living has increased to a greater degree than retailers felt their cost of operating had.  Finally, there was a considerable difference in consumers’ planned holiday spending and retailers’ expectations of holiday spending as retailers better predicted that consumers were planning to spend less. The managerial implications for retailers based on these predictions are presented.
The Association Between –Market Risk Disclosure Reporting And Firm Risk: The Impact Of SEC FRR No. 48
Authors: Lin Chen-Miao , Owens Wanda Lee , Owers James E.
Published: February 2016

SEC FRR No. 48 requires that all firms report their market risk exposures using one or more of three alternative formats for disclosure: tabular format, sensitivity analysis, or Value at Risk (VaR). In this paper we examine how the method chosen affects a firm’s risk as measured by total risk, the cost of equity, and firm specific risk. We find that firms using VaR have higher total risk and firm specific risk than firms using sensitivity analysis. Conversely, firms employing tabular disclosure generally have lower but not statistically significant lower total risk, cost of equity, and firm specific risk than firms using sensitivity.
Executive Pay Inefficiencies In The Financial Sector
Authors: Barton Haley , Laux Judith A.
Published: February 2016

This study considers the implications of excessive non-salary-based executive pay on capital structure during the years 2005 through 2007, directly preceding the 2008 stock market crash.  The hypothesis proposes that for firms in the financial sector, executives awarded generous compensation packages, compared to salary, implemented a higher use of debt in their firm’s capital structure. The study examines data on 40 firms in the financial sector and 40 firms in the manufacturing sector to empirically test for a relationship between executive pay and leverage.  Cross-sectional analysis of nine models reveals that compensation is a significant determinant of a firm’s total debt-to-total assets ratio for the financial sector, especially with the existence of a one- to two- year lag between the variables, while the manufacturing sector yielded no significant relationship.  These findings reveal sources of agency conflicts and behavioral biases within the financial sector during the three years preceding the financial collapse.
A New Look At Management Accounting
Authors: Talha Mohammad , Raja John B. , Seetharaman A.
Published: February 2016

This paper presents a comparison of the traditional management accounting with the new approach of management accounting with the use of latest information technology and manufacturing technologies.  The information and data of the research were gathered from various sources of secondary data. Many online articles and journals were available through these search engines such as Google, Infoseek, Lycos, Excites and Altavista. These articles were downloaded from Internet Websites including IFAC library, CPA online newsletters, Institute of Management Accountants, CIMA (Chartered Institute of Management Accountants), Technical Bulletin and Institute of Commercial and Financial Accountants.  The modern techniques used in Management Accounting are discussed. TQM (Total Quality Management), ABC (Activity Based Costing) and BSC (Balanced score card) are some of the tools that are introduced in management accounting to keep up with the latest technology.  This research highlights the emergence of new, more proactive management accounting that increasingly becomes part of the management team with the business process. The future roles and expectations of these accountants in the competitive global economy are discussed. 
Human Resource Management Practices And Organizational Innovation: An Empirical Study In Malaysia
Authors: Ling Tan Cheng , Nasurdin Aizzat Mohd.
Published: February 2016

With rapid globalization, firms particularly those in the manufacturing sector have to continuously innovate for competitive advantage.  One way to do so is via effective human resource management practices (thereafter termed as HRM).  The purpose of this study is to examine the relationship between human resource management (HRM) practices and organizational innovation.  We employed a cross-sectional design with a sample comprised of 674 large manufacturing companies from six states in Malaysia which were identified as having a high percentage of innovating companies (Ministry of Science, Technology and Innovation, Malaysia (MOSTI), 2006).  Our independent variables comprised of five HRM practices (performance appraisal, career management, training, reward system, and recruitment).  Three types of organizational innovation (product innovation, process innovation, and administrative innovation) served as our dependent variables.  Our findings provided partial support for our main hypothesis.  Training alone was found to have a positive and significant effect bon the three forms of organizational innovation.  In addition, performance appraisal positively and significantly affects administrative innovation.  Despite the fact that our research framework was partially supported, our study highlights the profound role played by training in stimulating organizational innovation in the context of the manufacturing industry of Malaysia.  Implications of our findings and limitations of the research were discussed.
Are Banks And Stock Markets Positively Related? Empirical Evidence From South Africa
Authors: Odhiambo Nicholas M
Published: February 2016

In this study, we examine the relationship between banks and stock market development in South Africa.  The study attempts to answer one critical question: Are banks and stock markets positively related in South Africa? The bank development is proxied by the ratio of the domestic credit to the private sector to GDP (DCP/GDP), while the stock market development is proxied by the ratio of the stock market capitalisation to GDP (CAP/GDP).Unlike the majority of the previous studies, the current study uses the newly introduced ARDL-Bounds testing approach, as proposed by Pesaran  et al. (2001), to examine this linkage. The empirical results show that there is a distinct positive relationship between banks and stock markets in South Africa. The results apply irrespective of whether the model is estimated in the short run or in the long run. Other results show that in the short run, the stock market development in South Africa is positively determined by the level of savings, but negatively affected by the rate of inflation and the lagged values of the stock market development. However, in the long run, the stock market is positively determined by real income and the inflation rate.  