bluuebunny/crossref_metadata_2025 huggingface dataset:
Tax Rate Changes, Interest Rate Volatility, And The Decline In Velocity, 1981-1983
Authors: McGibany James M. , Nourzad Farrokh
Published: February 2016

One of the most puzzling economic events in the U.S. during this decade has been the dramatic decline in the growth rate of the income velocity of money. From the fourth quarter of 1981 to the second quarter of 1983, the velocity growth rate fell by nearly 4% as opposed to its 3% trend growth rate. Traditional models have been unable to fully capture this unusual behavior of velocity, over predicting its rate of growth. The present study is concerned with this over prediction problem and attempts to more accurately explain the decline in the velocity growth rate in the 1981-1983 period. It examines the extent to which increased interest rate volatility in the early 1980s and the Reagan tax cuts may be contributed to the decline of the velocity growth rate from 1981 to 1983.
An Analysis Of Firm Motivation In The Defense Industry
Authors: Beverly John G. , Bonello Frank J. , Davisson William I. , Marsh Larry C.
Published: February 2016

This article considers the performance of firms in the defense industry. The analysis suggests that in terms of profitability and revenue there is no advantage to be gained by a firm from increasing the proportion of its total sales which go to the military. As a corollary to this proposition we find that the firms examined are profit maximizers and are not content to simply maximize revenue. Another conclusion to be drawn from the empirical analysis that there is a difference between high and low defense commitment firms and that this distinction occurs when the percentage of sale to the government reaches the seventeen percent level.
New Product Sales Forecasting Using A Growth Curve Model
Authors: Bonett Douglas G.
Published: February 2016

A logistic growth curve model for new product sales forecasting is proposed as an alternative to the traditional subjective forecasting methods. The parameters of the logistic growth curve model are redefined to represent meaningful growth characteristics that may more easily be specified by expert panels.
Expert Systems In A Commercial Environment
Authors: Shah Vivek
Published: February 2016

One of the current terms in decision support methodologies is Artificial Intelligence (AI). The search for AI, particularly in potential business applications, targets techniques which collectively results in expert systems. The purpose of this article is to identify an expert system and explain how this rapidly emerging technology can be used in a commercial environment.
An Empirical Study Of The Industrial Research And Development Incentives Act Of Canada
Authors: Mahapatra S. , Rodgers Waymond
Published: February 2016

The objective of this study is to investigate empirically the effects of the Industrial Research and Development Incentives Act (IRDIA) of Canada on the research and development (R&D) activities of Canadian private enterprises.
Further Evidence Supporting The Replacement Of The Federal Tax System With A Consumption Tax Base
Authors: Brazelton Julia K.
Published: February 2016

This study examines the primary considerations accompanying implementation of a consumption-based federal tax system. Additionally, theoretical and empirical (including graphs, derivates, and regression analysis) techniques are used to evaluate a consumption tax structure in the United States. The evidence presented supports such a system; however, the publics misperceptions concerning the impact and mechanics and the legislative bodys unwillingness to entertain a consumption tax proposal will probably further delay serious consideration for replacement of the income tax with a consumption tax.
Adjustable Rate Preferred Stock
Authors: Thies Clifford F.
Published: February 2016

The introduction and continuing innovation of adjustable rate preferred stock is discussed in light of institutional, regulatory and tax considerations. The observe volatility in the market prices of these securities is explained by the caps on their dividend re-set formulas and by the changing credit-worthiness of their issuers. An econometric model is developed which explains 76 percent of the variation in the market prices of seasoned issues and which is reasonably stable across time and across issuers.
The Administrative Warrant: Fourth Amendment Key To The Workplace
Authors: Schroeder Leila Obier
Published: February 2016

The Fourth Amendment Requirement of a warrant applies to searches of commercial establishments by OSHA inspectors. Cases interpreting concerns about the administrative warrant needed of these show that it is easy to obtain. The probable cause and particularly describing element of the Amendment are attenuated in the commercial search area.
The Mentoring Of Women For Business Management
Authors: Apfelroth Sanford
Published: February 2016

The benefits and advantage of the development of women in the work force through mentoring must be recognized by top management. This recognition must be encouraged and communicated to all supervisors and managers. Without the interest and effort to stimulate managers interest to mentor, and to train them in the process and stages, the human resource potential in women will not fully be utilized. Organizations and managers that meet this challenge to be mentored will come out on top. Women can contribute their ideas, insight, expertise and suggestions for creative approaches to intelligent and imaginative accomplishments to the twenty-first century.
Compustress: The Fear Of Computer Usage Among College Of Business Administration Students
Authors: Nykodym Nick , Simonetti Jack L. , Christen Joseph C.
Published: February 2016

This study explores the area of computer apprehension among College of Business Administration students at a Midwestern university. The fear of computer usage has been termed Cyberphobia, Computer Apprehension, Computerphobia, Computer Anxiety, Computer Vertigo and Terminal Anxiety The authors have coined the word: Compustress. A review of the literature revealed that little has been published on this subject A variety of anecdotal data are provided by a number of authors. These brief data are explored. It was noted that business students may experience terminal shock when they are appraised of the widespread use of computers in their field. Data were collected from College of Business Administration majors on level of computer apprehension, number of hours of computer usage and number of hours of computer training. Results indicate that the higher the number of hours of computer usage and training, the lower the compute apprehension.
Dividend Capture And The Ex-Dividend Price Behavior Of Electric Utilities
Authors: Gupta Atul , Scofield Jared
Published: February 2016

This paper examines if dividend capture strategies are causing significant price and volume movements in electric utilities around the ex-dividend date. Results show that while there is considerable price volatility around the ex-dividend date, this is not being caused by the use of dividend capture strategies. Stock purchases and sales made to implement this strategy are spread out over time and do not have any localized market-moving impact.
Acquisitions And Common Stock Returns In The Health Care Industry: 1982-1985
Authors: Rubin Rose , Karafaith Imre , Smith Kenneth L.
Published: February 2016

Employing a methodology commonly used to determine the movement of stock returns around a specific event, we examined the movement of common stock returns of acquiring firms in the health care industry for three periods, 1982-1983, 1984, and 1985. We find that in the 1982-1983 period, investors could expect negative excess returns from holding tock in acquiring firms in the health care industry. In contrast, for the 1984 and 1985 periods we find no evidence of excel returns for investors. The difference between the two periods, we believe, is due to the more competitive environment which existed in the industry in the latter two periods.
A Seven Year Strategic Marketing Profile Of Retail and Service Business Bankruptcy
Authors: Bradley III Don B. , Saunders Homer L.
Published: February 2016

It is recognized that certain well-known disadvantages present a strong element of vulnerability for the retail and service business firm. Limited management experience and inadequate marketing skills are recognized as major causative factors leading to higher business mortality rates. This study found that previously determined areas of vulnerability are still prevalent in the business community. However, it denotes that strategic pre-planning and continuous strategic planning are essential steps leading to increased business longevity.
Utilizing Political Ideologies To Market A Political Candidate
Authors: Singleton Shermichael V. , Honeycutt Andrew
Published: February 2016

This article explores the reductionist approach of political ideologies as used by political candidates, which is part of the common feature of political marketing. Understanding the value or belief system which is accepted as fact or truth by the targeted group, places the candidate in a position to promote them self as a well-intentioned, committed leader who seeks to motivate the audience to action. Modern marketing of political candidates begins by understanding central concepts of ideologies. The utilization of ideologies is complex, in that there is no single concept or claim revealing surprising affinities with various images of the candidate. It also has distinctive function, by misrepresenting the totality of the ideology by forming a total belief in the candidate versus the ideology in a particular way. People must commit or surrender to the demands of the candidate, thus making it possible for the candidate to get elected. The branding of the candidate while utilizing political ideologies in part disables people from easily disregarding information perceived to be antithetical to the concepts of the ideology (Quelch, 2007).
Client Selectivity Among Mid-Sized Auditing Firms: Evidence From The Post-Sox Audit Market Realignment
Authors: Cullinan Charles P. , Du Hui
Published: February 2016

Considerable realignment in the audit market occurred in the wake of the Sarbanes-Oxley Act of 2002, with many clients switching from a Big 4 to a non-Big 4 auditor. We examine a sample of 212 former Big 4 clients who switched to either a mid-sized auditing firm (i.e., BDO Siedman, Crowe Horwath, Grant Thornton and McGladrey) or a small auditing firm. We consider reasons why clients may prefer a mid-sized firm rather than a small firm (called client demand characteristics) and reasons why auditors may be willing to accept an audit engagement (called auditor supply characteristics). Among client demand characteristics, we find that clients are more likely to engage a mid-sized auditing firm when the client is larger, has higher asset turnover, and has foreign operations. From an auditor supply perspective, we find that a mid-sized auditing firm is more likely to accept the client if the client is willing to pay higher audit fees and uses the auditor for non-audit services. Higher financial leverage could be seen from either a client demand or auditor supply perspective. From a client demand perspective, higher financial leverage would make clients prefer mid-sized auditors, as these clients needs for financing could lead them to seek a more brand-name auditor to enhance their credibility with banks and other creditors. From an auditor supply perspective, auditors may prefer to avoid clients with higher leverage, which reflects financial riskiness. These financially risky clients may result in adverse reputational and/or legal costs for the auditing firm. We find that clients with higher leverage are less likely to engage a mid-sized CPA firm. These results suggest that mid-sized auditors are somewhat selective in the clients they are willing to accept.
Are Cash Balance Pension Plans A Viable Retirement Program For Corporate America?
Authors: Lucas John J.
Published: February 2016

Cash Balance Pension Plans are a defined benefit plan where employees have a hypothetical account that increases annually, as a result of compensation credit as well as interest credit. In essence, cash balance pension plans combine elements of both a traditional defined benefit plan and a defined contribution plan (Lucas, 2007). This paper examines the recent trends and legal ruling regarding cash balance pension plans. The paper also provides an examination of the role of the Pension Protection Act (PPA) of 2006 and its impact on cash balance pension plans. An evaluation will also be presented to determine if cash balance pension plans are a viable retirement program option in corporate America.
The Relationship Between CEO Gender, Financial Performance, And Financial Management
Authors: Jalbert Terrance , Jalbert Mercedes , Furumo Kimberly
Published: February 2016

In recent years, the number of female Chief Executive Officers (CEOs) at large firms has increased to the point that it is possible to statistically compare the performance and management characteristics of firms managed by CEOs of different genders. This paper is an exploratory study that examines the relationship between CEO gender and the performance and management of publicly traded firms. We use a large dataset of annual Forbes CEO data, combined with Compustat data, covering the time period of 1997 to 2006. Our results show that CEO gender is related to a number of factors including inside ownership and return on assets.
Multi-Mode Resource-Constrained Project-Scheduling Problem With Renewable Resources: New Solution Approaches
Authors: Colak Selcuk , Agarwal Anurag , Erenguc Selcuk
Published: February 2016

We consider the multi-mode resource-constrained project scheduling problem (MRCPSP) with renewable resources. In MRCPSP, an activity can be executed in one of many possible modes; each mode having different resource requirements and accordingly different activity durations. We assume that all resources are renewable from period to period, such as labor and machines. A solution to this problem basically involves two decisions (i) The start time for each activity and (ii) the mode for each activity. Given the NP-Hard nature of the problem, heuristics and metaheuristics are used to solve larger instances of this problem. A heuristic for this type of problem involves a combination of two priority rules - one for each of the two decisions. Heuristics generally tend to be greedy in nature. In this study we propose two non-greedy heuristics for mode selection which perform better than greedy heuristics. In addition, we study the effect of double justification and backward/forward scheduling for the MRCPS. We also study the effect of serial vs. parallel scheduling. We found that all these elements improved the solution quality. Finally we propose an adaptive metaheuristic procedure based on neural networks which further improves the solution quality. The effectiveness of these proposed approaches, compared to existing approaches in the literature, is demonstrated through empirical testing on two well-known sets of benchmark problems.
A Chronology Of The Definition Of Marketing
Authors: Brunswick Gary J.
Published: February 2016

As a variety of marketing environmental factors have changed and evolved over the past century, so has the definition(s) of marketing. The author provides a chronological listing of the various (and popular) definitions of marketing that have been used in the marketing literature over the past 100 years. The contents of the manuscript represent an important resource for marketing students, faculty, and practitioners in developing a richer understanding of the development and evolution of marketing as both an academic discipline and a business practice.
Revenue Process Internal Control For Manufacturers: An Evaluation Tool For Independent Auditors And Managers
Authors: Orchard Lou X. , Hoag Matthew L.
Published: February 2016

Effective management of the revenue process is critical to the success and long-run viability of any business. The revenue process also entails an elevated risk area for financial reporting fraud (AICPA 2002; Beasley et al., 2010). Accordingly, this important process demands heightened attention from independent auditors and company managers, and internal control activities must be considered as part of the ongoing evaluations of this important area. This paper presents a tool for evaluating internal control objectives and activities pertinent to the revenue process for companies operating in the manufacturing sector. This evaluation tool may be used by independent auditors as a general benchmark in performing a preliminary evaluation of a manufacturing clients internal control over the revenue process. Independent auditors who will find the tool most useful will primarily be those wishing to comply with U.S. Generally Accepted Auditing Standards (GAAS), including those performing integrated audit engagements in accordance with Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 and the new requirements set forth in the Committee of Sponsoring Organizations of the Treadway Commissions (COSO) Internal Control Integrated Framework. In instances where important internal control activities have been omitted from the clients system, the auditor should consider whether the omission increases the risk of material misstatement. This tool may also be used by managers to evaluate the adequacy of their companys internal control activities within the revenue process.
Improving Writing Through The Peer-To-Peer Evaluation Process
Authors: Forrer Donald A. , Wyant Nancey A. , Smith Minnette G.
Published: February 2016

This presentation will demonstrate the process utilized in graduate and undergraduate level classes at Hodges University to improve writing skills through a Peer-to-Peer evaluation. The research addresses the utilization of a rubric where students evaluate a minimum of two fellow classmates and share their critique in an online discussion board. Students evaluate classmates on assignment coverage, critical thinking, conceptual fluency, writing fluency, and information literacy. The rubric provides specific sub-categories that guide students as they evaluate classmates. Once the student evaluation process is complete, student research is critiqued by the professor prior to submission of the research paper. This presentation will cover usage of the rubric and statistical results from initial testing. Innovative professors must continue to enhance the quality of their online delivery in an effort to achieve the same educational outcomes acquired in a traditional classroom. While this process works very well in a traditional classroom setting, this presentation demonstrates how the same process can be utilized effectively in an online environment.
Corruption, Investment and Economic Growth: Theory and International Evidence
Authors: Coupet, Jr. Ernst
Published: February 2016

This paper analyzes the real effects of corruption on a firm’s production function. Using an augmented-Solow Growth model, with multifactor productivity as a function of corruption, a closed-form solution is derived for real GDP per capita, economic growth and physical capital per capita, at steady-state. With the a priori assumption of a negative relationship between corruption and multifactor productivity, it is shown that corruption negates a society’s standard of living, economic growth and investment level. OLS results of the closed-form solutions not only support this theoretical finding for a full cross-section of countries, but they also reveal that corruption may have a positive concave effect on economic variables for the OECD sample. Nonlinear least squares estimates of the elasticities of physical and human capital, with the inclusion of the corruption index, confirm that the productivity of inputs is impacted.
Making The Right Match: Finding The Consulting Style That Fits Your Firm
Authors: Militello Jack , Sheppeck Mick
Published: February 2016

Consulting plays a valuable role in business worldwide. Yet there is an on-going tension between managers and consultants that is vigorously document by critics. This tension has various causes not the least of which is that particular consultants are not appropriate for particular situations. We offer a simple assessment tool to assist managers in finding the right match between their business needs and the services offered by consultants. We suggest that clients determine the desired relationship between the consultant offerings and their specificity to the clients strategic mission. We present a taxonomy of consultancy offerings and recommended how they may fit with the strategic mission of a client firm. We also warn clients to be aware of certain consultant behaviors that may inhibit client learning and increase the tension between the client and the consultant.
Stock Exchange Maturity And GDP Per Capita
Authors: Trecartin Ralph , Jbantova Mariana
Published: February 2016

This study examines the impact of domestic stock exchanges on the economic growth and development of 26 East European and former Soviet Bloc countries. Growth in domestic financial markets should positively influence a countrys economic output as measured by GDP per capita. An investigation of the noteworthy relationship between the level of economic activity and both the operations of the current stock market and the existence of stock exchanges prior to communism is formulated. Countries with stock exchanges prior to communism, have reintroduced free-market characteristics more rapidly than those, which did not. A positive correlation between economic activity and variables for volume of stock exchange trade and market value of exchange trade is also found. The number of companies listed and the number of exchange members do not appear to be important variables.
Section 2036 Proves Potent IRS Weapon Against Family Limited Partnerships
Authors: Grace Debra M.
Published: February 2016

Taxpayers successful uses of Family Limited Partnerships (FLPs) to shield wealth from estate taxes and gift taxes are being challenged by the IRS with Code Section 2036. Sec. 2036 pulls back into the taxable estate all assets over which the taxpayer retains direct or indirect control, subjecting them to transfer taxes. These assets can include those transferred to FLPs where taxpayers act carelessly in conducting relationships with the entity. The IRS use of Code Section 2036 has recently resulted in taxpayer losses in court and now represents the major challenge to a FLPs viability. To assist accountants and their clients engaged in FLPs, this article analyzes Sec. 2036 and details current tax developments, particularly the June 2003 decision in the remanded case of Strangi. The article also provides specific tax planning procedures for accountants to undertake when advising clients engaged in FLPs, so as to safeguard taxpayers assets against Sec. 2036 attack.
A Panel Data Analysis Of The Lucas Hypothesis
Authors: Ashraf Mohammad , Mohabbat Khan A.
Published: February 2016

In this study we have attempted to verify one of the implications of the Lucas (1973) hypothesis using two-digit industry-level panel data for the U.S. Manufacturing Sector. The hypothesis states that the higher the nominal demand volatility, the lower will be the impact of nominal changes on real variables. Unlike other studies, we use disaggregated panel data for nineteen industries, which are scattered throughout the country, and are subject to the same fiscal and monetary shocks. Another unique feature of this study is the use of price level data at the two-digit industry-level. As opposed to the use of overall price level data, which is common in the literature, we make use of the price level data at the two-digit industry-level. The results of our study support the Lucas hypothesis. Industries with low relative demand volatility transmit the effects of nominal demand shocks exclusively to output and industries with high relative volatility pass on the shocks directly to prices. Finally, we tested for the relation between the real impact of the nominal aggregate disturbances and the relative volatility of industry demands. Our results show strong negative relation between them. That is, the higher the nominal demand volatility facing an industry, the less its impact would be on real output.
Interactive Large Classes: The Dynamics Of Teacher/Student Interaction
Authors: Christopher Doris A.
Published: February 2016

The purpose of this paper is to show that there are many techniques and methods to use in stimulating interest and effective learning outcomes in large classes.  The paper addresses several alternative teaching formats such as:  active learning, collaborative learning, interactive learning which encourage student interaction in the traditional lecture environment.  The paper discusses how the web can be used as an instructional tool in large classes to motivate students to find resources, conduct webquests, complete time certain email assignments, and engage in active in-class discussions.
Leadership In The Fortune 500: Women At The Executive Level Of Corporate Management
Authors: Bernardi Richard A. , Bosco Susan D. , Reis Kate M.
Published: February 2016

This study examines the influence of executive women in business using a sample of firms included in the Fortune 500.  Our analysis looks at the movement of female executives on or off corporate management to determine whether an increase of female representation at the highest levels of corporate management signals an increased commitment of a firm to a higher representation of females on their boards of directors.  Our sample includes a group of 73 corporations for which we longitudinally examined the data for women at the director and executive manager levels for the period from 1999 through 2003.  Our data indicate that, while the number of firms having multiple female directors increased over this period, the increase was even more pronounced for women at the executive management level.  Our data also indicate that, while the number of executive level managers was relatively stable (increased) between 1999 and 2001 (2001 and 2003), the number of women at this level increased by 25.5 (27.1) percent.
Timing Trades And Mutual Fund Investors
Authors: Fosberg Richard H.
Published: February 2016

Recently, a number of well known mutual funds advisors, including Strong, Putnam, and Bank of America, have been accused of or admitted to allowing selected institutional investors to engage in timing trades with the shares of some of the mutual funds they manage.  The news media has generally taken the position that timing trades reduce the wealth of other fund investors.  In this study, I show that timing trades can either increase, decrease, or leave unchanged fund shareholder wealth.  Which outcome results will depend on specific timing trader and fund characteristics such as the frequency and accuracy of timing trader speculation, the trading of other fund shareholders, the return on the fund's security portfolio, and how much a mutual fund must increase its cash holdings to cover the transactions of timing traders.  Consequently, whether timing traders harm other fund shareholders is an empirical question.
Employee Stock Options And Diluted Earnings Per Share
Authors: Doran David T.
Published: February 2016

At the time of this writing, SFAS No.123 (1995) prescribes GAAP in accounting for employee stock options.  It allows firms to choose either the intrinsic or fair value method in determining the amount of compensation expense recognized for employee stock options.  The choice of method affects the numerator of the earnings per share (EPS) calculation.   The FASB recently issued a revised SFAS No. 123 (2004) which will require uniform application of the fair value method.  GAAP also requires that the denominator for the diluted EPS calculation be increased for incremental shares under the treasury stock method.  SFAS 128 requires the treasury stock method be applied where the proceeds from the assumed exercise of options are used to acquire shares of the firm’s outstanding stock at the average market price for the period.  Previous to SFAS No. 128, APB Opinion No. 15 required that the higher of average or period ending stock price be used in determining the number of shares reacquired with the proceeds from the assumed exercise of stock options.  This paper develops a simple one period model that assumes a risk free environment with complete certainty conditions in testing the accuracy of EPS calculated under GAAP using the fair value method vs. the intrinsic value method.   The results indicate that EPS reported under the intrinsic value method are overstated, and further indicate that a combination of both the fair value method and the treasury stock method is needed in calculating diluted EPS.  This fair value and treasury stock method combination is shown to not “double count” the stock option’s impact upon EPS.  The results also indicate a slight misstatement of diluted EPS under the fair value method when applying the treasury stock method requirements of SFAS No. 128.  Correct EPS results when shares are assumed reacquired for the treasury at the higher year ending price, consistent with superseded APB 15.  However, the diluted EPS misstatement is so slight that the FASB’s rationale for always requiring the use of average period price seems likely to be justified.  The findings of this research support the requirements of SFAS No. 123 (revised 2004) and SFAS No. 128.
Empirical Testing Of Random Walk Of Euro Exchange Rates: Evidence From The Emerging Markets
Authors: Al-Khazali Osamah M. , Koumanakos Evangelos P.
Published: February 2016

This paper utilizes the new non-parametric variance ratio tests based on signs and ranks to examine the random walk hypothesis of Euro exchange rates for 10 Middle Eastern and North African (MENA) currencies.  The results of the new- variance ratio tests reject the random walk hypothesis for all currencies except the Kuwaiti and the Emirate currencies.  Given the improved size and power properties of Wright’s (2000) ranks and signs tests, the results of the new variance ratio tests are robust to the results of the traditional LOMAC variance ratio tests.
Risky Shifts And The Model Of Communicative Events
Authors: Shinnawy Maha El , Vinze Ajay , Mortagy Amr
Published: February 2016

Group interaction frequently results in group members changing their prior beliefs to a more extreme position.  This is referred to as group polarization. Using the model of communicative events, this paper proposes that task, medium of communication, group composition and their interaction will have an effect on the phenomenon of group polarization. A laboratory experiment was conducted to address these questions.   A 2x2x2 factorial design was used to analyze the results.   The analysis indicates that polarization does in fact occur and that the level of polarization varies depending on: the medium of communication, the task characteristics and their interaction. The composition of the group does not have a significant effect on polarization. The findings reported in this study have significance for developers, users and researchers of collaborative systems and for social-psychologists who study the phenomenon of group enhanced attitude shifts.
Do Profitable And Non-Profitable Firms Pay Executives Differently?
Authors: Gritsch Martin , Snyder Tricia Coxwell
Published: February 2016

In the past decade, there has been a considerable increase in the use of stock options as a form of executive compensation. While agency theorists study the relationship between performance based pay and job productivity, they have not addressed whether executive compensation is impacted by a firm’s profitability. Profitable firms may pay executives more incentive-based pay, to reward their managers for a good job. In contrast, non-profitable firms may be willing to pay executives more in the way stock options to attract better managers. We find that a CEO’s probability of receiving stock options increases if he/she is employed by a profitable firm. However, the amount received by such a CEO is substantially less than the amount received by the average CEO at a non-profitable company.
Life After Defined Benefit Plans
Authors: Goldberg Martin A. , Wnek Robert E. , Rolleri Michael J.
Published: February 2016

Employers have moved from traditional pension plans to cash balance and other alternative defined benefit plans. However, it may be that the best approach lies beyond defined benefit plans completely. The Employee Retirement Income Security Act of 1974 (ERISA) was enacted to protect workers. Its focus was on the defined benefit plan, which at that time meant a traditional pension plan that provided lifetime income to retired workers. Over the years traditional pension plans have declined in number, often due to their increasing costs. Many of these plans have been replaced by the 401(k) plan, a profit-sharing plan partly or wholly funded by employee contributions. There has also been a rise in hybrid plans, plans that have features of both defined benefit and defined contribution plans. Recent developments highlight the weaknesses in traditional pension plans. Replacing a traditional pension plan with a cash balance plan, a hybrid plan that qualifies as a defined benefit plan, does not fully address all the problems. It may be that there is limited advantage to the continued emphasis on defined benefit plans. Instead, defined contribution plans that contain some features of defined benefit plans may better address the current retirement-plan issues.
The Use Of On-Site Samples In Marketing Research
Authors: Azevedo Christopher D.
Published: February 2016

On-site sampling procedures are frequently used in demand estimation applications. This results in a sample that is both truncated and endogenously stratified, limiting the inferences that can be drawn from the sample. Shaw (1985) develops a likelihood function that corrects for these problems and uses a Monte Carlo simulation to verify that the likelihood function outperforms models that ignore the problems. However, the simulation is less than ideal. In this paper, I develop an additional method for correctly for the problems associated with on-site samples and conduct a more thorough simulation to examine the performance of the various estimation methods.
On Modeling In Behavioral Accounting Research
Authors: Joyce William B.
Published: February 2016

There is a sufficiently significant consistent body of knowledge to be modeled.  This research seeks to provide a more complete foundation to the current models while also providing a more unified explanation to a wider range of empirical results.
Merger Motives For U.S. Utility Acquirers: Evidence From Performance, Risk Metrics, And Executive Compensation
Authors: Dube Sema , Francis-Gladney Laura , Romero Rafael , Langdon William
Published: February 2016

We study post-acquisition performance of US public utilities that acquired other US exchange listed firms during 1996?2002.  We find that acquirer shareholders do not gain any abnormal returns from the acquisition over the two years following the acquisition and there are no unexpected gains in the underlying operating performance of the acquirers. We also find that while stock acquirers show a decrease in post-acquisition performance, their CEO salary increases relative to the industry. This suggests that method of payment may be an important factor in discerning the motivation for an acquisition. Lack of clarity regarding effects of a complex process like an acquisition, for shareholders and perhaps the even the management, combined with potential increase in prestige and salary for the management, may be the motivation for M&A activity in stock mergers. Cash acquirers may be more careful and consequently do not show subsequent underperformance.
Use Of Derivatives In The Airline Industry
Authors: Abbey Denis R.
Published: February 2016

This paper is about the use of derivatives such as futures and option used as hedging to reduce exposure to risk in the Airline Industry. The paper considers the way derivatives are used and undertakes primary research to determine whether there is a relationship between the use of derivatives, the level of profit, the level of liabilities and executive salaries. This paper uses regression analysis and a chi-squared test. The conclusion assesses the value of these tools to airlines.
Fraud Versus Ethics: The Case Of The Backdating Of Stock Options
Authors: Ryan Huldah A. , Bottiglieri William , Kroleski Steven L.
Published: February 2016

During the past five years, the Securities and Exchange Commission (SEC) has investigated over 140 companies for their practices of backdating the grant dates of employee stock options (ESOs), and has cited a number of these companies for their part in this behavior that has led to huge financial losses to corporate stockholders.  The practice of backdating stock options grant dates is not necessarily illegal, but there may be some ethical issues involved with respect to the firms implicated in the acts.  Options backdating may arise, not only because of clerical errors, lax record keeping, or internal control system failure, but also because of the intentional manipulation of corporate reports and documentation.  In cases where top executives deliberately manipulate stock options grant dates to further bloat their excessive compensation packages above the amounts that directors approved for them, the firm and its officers/directors may be liable for violations of SEC disclosure requirements, generally accepted accounting principles (GAAP), and tax laws, and if these actions occurred after the passage of the Sarbanes-Oxley Act of 2002, there could be severe penalties imposed on the firm and on the individuals involved.
Do Utility Stocks Provide Exposure To Bond Markets?
Authors: Boyer Carol , Ciccone Stephen J.
Published: February 2016

This study examines the relationship between utility stock returns and various bond or interest rate index returns.  In contrast to the S&P 500 index, utility stocks show a positive relationship to bond returns.  Utility stocks also are more correlated with corporate bond returns than the stock indexes.  Overall, utility stocks are considered an excellent diversification tool.  The upside of the stock market can be captured, but with less downside risk.
Dynamics Of US Economic Recovery: Can We Still Count On The Finance And Insurance Sector?
Authors: Abaidoo Rexford
Published: February 2016

This study takes a quantitative approach toexamine the dynamic effects of post-recession sector and sub-sector growthperformance of U.S. economic recovery. The study employs contributions to GDPgrowth rate among selected sectors and sub-sectors of the US economy to measurethe probability to significantly impact the rate of economic recovery.Estimation results based on logistic model indicates the finance and insurancesector of the economy is still critical to US economic recovery after a majormacroeconomic shock; however, the sectors potential to significantlyaccelerate economic recovery seem to be overstated compared to other keysectors of the economy. Further test suggests the real estate sector of theeconomy is significantly weak in generating growth levels required tosignificantly accelerate economic recovery after major economic shock such asthe recession of 2008.
Follow The Cash: Lessons For Capstone Business Courses
Authors: Mong Donald
Published: February 2016

Capstone business students struggle to understand and interrelate all of the strategies and functions of companies. Yet each of those strategies and functions has the purpose of directly or indirectly producing cash flows for the company. We therefore propose that following a companys cash flows can provide effective lessons for capstone business courses. In this exploratory paper, we examine the importance of cash from three perspectives: the companys, the investors, and the accountants. We then examine how emerging accounting movements make following cash flows easier for non-accountants and how capstone business instructors might infuse some follow-the-cash lessons into their classrooms.
An Account Analysis Of PCAOB Inspection Reports For Triennially-Inspected Audit Firms
Authors: Landis Mark , Jerris Scott I. , Braswell Mike
Published: February 2016

Since 2005, the PCAOB (Public Company Accounting Oversight Board) has been issuing inspection reports for triennially-inspected audit firms as part of its overall mission to improve audit quality. This study analyzes the findings in the PCAOB inspection reports by classifying the audit deficiencies cited in the reports by area of deficiency and type of audit failure. CPA firms can utilize these findings in their efforts to reduce client engagement audit risk. The results indicate that the overall number of cited deficiencies is declining each year, revenue and asset accounts are the most frequently cited accounts, business combinations and equity transactions are the most cited transactions, and insufficient testing or documentation is the primary type of audit failure. We also document that most departures from GAAP occur in the accounting for business transactions or in liability accounts.
The Impact Of Decision Power On Financial Risk Tolerance And Asset Allocation
Authors: Gilliam John E. , Grable John E. , Hampton Vickie L.
Published: February 2016

This research considers the impact of decision power (Blood & Wolfe, 1960) and demographic variables within a couples relationship on risk tolerance and portfolio risk levels. Married couples (N = 175) separately completed a survey consisting of the Blood and Wolfe Decision Power Index, the Survey of Consumer Finances risk tolerance question, demographic information, and selected financial variables. Unlike their husbands, the study found an effect of decision power for wives and portfolio risk level, suggesting that the wifes decision power affects portfolio risk levels. Decision power was found to be a significant factor in risk tolerance for both the husband and wife. Findings indicate that both portfolio risk levels and risk tolerance is determined by the education of the wife and not the husband. Further, a divergence in risk levels occurred when the husband owned a greater degree of assets than the wife.
Do Heating Oil Prices Adjust Asymmetrically To Changes In Crude Oil Prices
Authors: Girma Paul Berhanu
Published: February 2016

This study investigated if there is an asymmetric relationships between heating oil and crude oil futures price changes for maturities of one to four months. The study finds that heating oil and crude oil futures price series of one-month to four month maturities are threshold cointegrated. The study also shows that heating oil and crude oil futures prices adjust "Asymmetrically" for deviation from equilibrium. At shorter maturities (one and two month contracts) heating oil and crude oil prices adjust faster for positive deviation from threshold equilibrium. In contrast, for longer maturities (three and four month contracts) heating oil and crude oil prices adjust faster for negative deviation from equilibrium. Finally, this study finds that only heating oil prices adjust to clear deviations from long-run equilibrium relationship.
Estimating And Analyzing The Cost Efficiency Of Subchapter S Banks
Authors: Kashian Russ , Cummings Richard , Wang Yannan
Published: February 2016

This paper strives to evaluate the economic performance of Subchapter S Financial Institutions in Wisconsin. While there is a limited collection of research regarding Subchapter S banks, this paper expands the literature by investigating this research into their x efficiency. This study measures performance differentials of Subchapter S banks against banks organized as C Corporations of similar size. The purpose of this paper is to determine the extent to which having this form of flow through ownership impacts efficiency levels.
Using DI Flashcards with a Count-By Series Procedure with a Fourth Grade Student with ADHD and Learning Issues in a Resource Room Setting Math Facts with an Evaluation of Generalization to New Math Facts
Authors: Wilson Christy , McLaughlin T. F. , Bennett Andrea
Published: February 2016

DI flashcards have been proven be improve student performance in a wide range of subject matter-areas. Students with memory issues may well benefit from being taught with DI flashcards. Employing a count-by series has been employed by classroom teachers to teach multiplication. Count-bys can provide students an easy transition from addition to multiplication. This project implemented DI flashcards with a count by series to improve the performance of a single elementary school student having difficulty in math. These two procedures were evaluated in an ABABCB single case design. The results indicated that our participant’s performance increased when these two procedures were combined. Finally generalization was carried out with new math facts. When DI flashcards and the count by series charts were again employed with his new math facts, his performance quickly increased. Suggestions for future research employing DI flashcards and generalization of treatment outcomes were also provided.
APLIKASI MIKROKONTROLER AT89S52 SEBAGAI PENGENDALI PERALATAN ELEKTRONIK RUMAH TANGGA MELALUI REMOTE CONTROL
Authors: Wahyudi Eka , Kuswiani Gina
Published: February 2016

Intel, Motorola dan Atmel merupakan nama-nama yang sudah tidak asing lagi sebagai pembuat mikrokontroler, komponen yang dikenal dengan keandalan dan kecepatan kejanya. Program-program mikrokontroler yang ditulis dengan Bahasa Assembler umumnya berukuran kecil dan dapat dieksekusi dengan cepat sehingga banyak digunakan terutama di bidang industri. Sebenarnya kita dapat menggunakan mikrokontroler dengan remote control sebagai pengendalinya dalam kehidupan sehari-hari sebagai sakelar lampu jarak jauh. Tempat seperti vila, area perkantoran dan bandara sering kali memiliki lampu dalam jumlah banyak. Dengan alat yang dirancang ini, kita tidak perlu lagi mematikan lampu-lampu dalam jumlah banyak tersebut secara manual. Penggunakan mikrokontroler akan diterapkan dalam suatu alat yang dapat diaplikasikan atau digunalan pemilik rumah untuk berinteraksi dengan peralatan yang ada di rumah baik dari jarak jauh dalam suatu ruangan maupun dari jarak dekat. Alat ini dapat dihubungkan dengan berbagai peralatan elektronik rumah tangga misalnya lampu penerangan, pompa air, pemanas air, kulkas, air conditioner (AC) dan peralatan rumah tangga lainnya. Program yang dibuat menggunakan bahasa assembler. Adapun alat pengendali ini terdiri dari remote control dalam hal ini menggunakan remote VCD 3.0 dan infra red receiver module berbagai rangkaian antara lain rangkaian mikrokontroler, driver transistor dan relay.

 

Kata kunci : mikrokontroler, remote control, infra red.