bluuebunny/crossref_metadata_2025 huggingface dataset:
Directional Momentum Strategies With No-load Mutual Funds
Authors: Akhbari Marlena , Gressis Nicolas , Kawosa Burhan
Published: February 2016

A typical textbook definition of the weak form efficient market hypothesis suggests that past security price changes do not predict future price changes.  But a large body of empirical evidence claims that over horizons of three months to a year stock prices exhibit momentum, that is, continuation in a price direction.  This pattern of stock price momentum is exploited by some mutual funds that typically buy past stock winners and sell past stock losers.  In this paper, we show that if momentum is modified to take into consideration price patterns within the period of selection/formation, the directional momentum strategy applied to stock and/or bond no-load mutual funds proves very profitable for long term (fifteen to twenty years) investors.
Optimal Tax Deferral Choices In The Presence Of Changing Tax Regimes
Authors: Jalbert Terrance , Rask Eric , Jalbert Mercedes
Published: February 2016

In this paper the attractiveness of tax-deferred and non-deferred investments in periods of changing tax regimes are examined.  Specifically the desirability of deferring taxes given one’s current tax rate, estimate of future tax rates, number of years until retirement, and the expected rate of return on investment is explored.  Under some combinations of tax rates and investment horizons, tax deferral is found to be undesirable while in others it is found to be desirable.  Using the formulas and tables developed here, an individual can identify the rate of return on investment at which he is indifferent between deferring and not deferring, rates at which tax deferral is preferred and rates at which tax deferral is inferior.  In addition, the sensitivity of the decision to the timing of future tax rate changes is explored.  This research provides investors a more comprehensive understanding of the factors that determine optimal tax deferral choices and will permit investors to make better tax deferral decisions.
The Marginal Effects Of Consumer Characteristics On Internet Channel Choice
Authors: Reardon James , Wicks John , McCorkle Denny E. , Dalenberg Douglas
Published: February 2016

Multiple retail channels (e.g., retail stores and catalogs) have been available to consumers for more than a century, while consumer decision making and academic research focused on channel choice with regard to the Internet is limited.  This research integrates and adapts relevant literatures to develop a model of channel choice based on demographics and for the first time explicitly measures consumer switching propensities between channels.   The findings suggest that consumers with Internet access tend to switch from traditional direct response retailing to the Internet and that time pressured consumers tend to switch from physical retail stores to the Internet and vice versa for older consumers.  Strategic implications are also provided.
Fiscal Externalities In The Globally Integrated Market
Authors: Tomohara Akinori
Published: February 2016

While tax competition of mobile capital has been explored in the literature, little attention has been paid to the effects on business incentives for global trading.  We show that tax competition creates negative fiscal externalities via distorted production decisions of multinational companies, when the markets across countries are interrelated through intra-firm trade.  Pareto improvement may emerge once the governance of the interrelated markets is coordinated across different governments.
Information Technology, Economic Growth, And Employment: Evidence From Time-Series Analyses
Authors: Kim Doh-Khul
Published: February 2016

Since the mid-1990s, numerous studies have shown the interactions between developments in Information Technology (IT) or the number of Internet subscribers and the general economy such as economic growth. Some show that development in IT has significantly affected growth, led by higher productivity, whereas others show no significant role of IT in the growth. Thus, no general consensus has been reached on the effects of IT development on economic (GDP) growth. By applying two popular time-series statistical tools (multivariate cointegration analysis and vector error correction model) with the total number of Internet subscribers in the U.S., this paper finds: (1) there is a long-run equilibrium linkage among the development of IT (subscriber numbers), economic growth, and employment; and (2) there are bi-directional Granger-causality relationships present between IT and economic growth, whereas there exists a uni-directional relationship between IT and employment in the U.S.
Choice Of Entity For The Family Business
Authors: Goldberg Martin A.
Published: February 2016

Choice of entity has long been one of the central issues in applied business planning.  The family business often has special characteristics and needs that may differ from other businesses.  These different characteristics and needs will affect the determination of which entity is best for a particular business enterprise. To give some examples, the owners of a family business may want to maintain long-term control in the hands of one or two family members while still providing fairness for minority owners, may need to deal with attribution rules and other statutory provisions that make income tax planning more complicated, and may have the desire to take estate taxes into account as well as income taxes.  Tax legislation enacted in the years 2003 through 2006, as well as evolving case law, have made choice of entity for the family business more complicated than before, warranting a new look at this special topic.
Hispanic Poverty: A County Contrast
Authors: Mogull Robert G.
Published: February 2016

This study examines Hispanic ethnic poverty rates at the county level.  The specific ethnic groups examined are Cubans, Mexicans and Puerto Ricans as well as Other Hispanics and the counties include the Bronx, Los Angeles and Miami-Dade.  The primary goal is to separate high Hispanic poverty into an ethnicity factor and a geographic/economic factor.  The evidence is clear.  Although ethnicity has some influence on the group specific poverty rates of Hispanic-Americans, it is overshadowed by local economies.  Location is far more influential than cultural lineage in affecting group poverty rates.
Is There Transparency In Auditor Change Disclosures?
Authors: Calderon Thomas G. , Ofobike Emeka , Cheh John J.
Published: February 2016

In this paper, we examine the reasons disclosed in a small representative sample of Form 8-Ks for switching auditors. We classify auditor switches in terms of changes from big-4 to other big-4, big-4 to non-big-4, non-big-4 to big-4 and non-big-4 to non-big-4. Our primary objective is to assess compliance with the required disclosures for auditor changes and to reflect on the implications for corporate governance. This line of research is important in light of the requirements of SEC Regulation S-K 304 and recent calls for greater transparency in financial reporting, particularly after Sarbanes-Oxley.  Our research shows that companies use boilerplate language and adopt a check-the-box approach to compliance with Regulation S-K 304. Contrary to the spirit and intent of corporate governance, their disclosures generally lack transparency and offer little or no insight into the underlying reasons for auditor changes. One of the clearest patterns is that several auditor changes are preceded by such reportable events as going concern uncertainties and material internal control deficiencies that often lead to financial statement restatements. Even so, many companies are less than forthright in the language used to disclose such events. Thus, we conclude that the implied objective of auditor change regulations is not being fulfilled.  In general, neither auditors nor clients appear to take the auditor change disclosure requirements seriously. It is vital that the PCAOB, SEC, and the audit committees take note of this weakness in auditor change regulation.
The Application Of Self-Employment Tax To Limited Liability Companies: A Critical Analysis
Authors: Koski Timothy R.
Published: February 2016

One of the significant issues that has arisen in connection with limited liability companies (LLCs) electing to be taxed as a partnership is the application of self-employment tax to its members.  The issue of when an LLC member’s distributive share of LLC income is subject to self-employment tax has not been definitively answered.  This paper reviews the current rules on when an LLC member’s distributive share of LLC income is subject to self-employment tax and analyzes proposals that have been made to clarify the law in this area. 
Columbus's First Voyage: Profit Or Loss From A Historical Accountant's Perspective
Authors: Satava David
Published: February 2016

Determining the cost of Columbus's first voyage to the new world is very difficult to do with any degree of accuracy.  The primary reasons for this is that the complete set of records does not exist and may not have ever existed.  As a result, scholars have proposed a wide variety of figures supposedly representing the costs of Columbus's first voyage. Because of the conflicting information associated with this voyage, a three-step decision-making model approach was developed and used when deciding between conflicting accounting figures. In addition, several historical events, such as the sinking of the Santa Maria and the lifetime finder's fee annuity for being the first to spot land in the new world was reviewed for their possible effect on the accounting for this voyage. Overall, the purpose of this paper is to prepare a pro-forma financial statement in order to determine whether or not Columbus's first voyage was profitable or not. 
Does The Gender Of The Manager Affect Who He/She Networks With?
Authors: Chow Irene Hau-siu , Ng Ignace
Published: February 2016

Based on a sample of 72 managers from Hong-Kong and1032 associates identified by these managers, the results show that female managers network with other females for expressive support but when seeking instrumental contents, they network with male associates.  We also found that females are less likely to approach female associates they have strong ties with but are more likely to approach similarly ranked colleagues.   They are also unlikely to approach higher ranked female colleagues to network on instrumental contents.  Taken together, these results imply that for female managers seeking instrumental support, they should focus on peer-relationships with other females as well as on male associates with whom they have strong ties with. From a stakeholder’s point view, more attention should be paid to designing and implementing social policies and integrating a gender perspective into all public policies. This calls for setting up an integrated network of structure, mechanism and processes designed to arouse more gender-awareness, increase the number of women in decision-making role, facilitate the formulate of gender-sensitive policies and programs. Long-term strategies should be developed to build up women through personal growth process, promote integration and equality in the workplace.
Investment In The Greek Processing Of Agricultural Products And Food: A Panel Data Approach
Authors: Baltas Nicholas C.
Published: February 2016

                The aim of this research is to quantify Greek investors’ behaviour in the industry of processing agricultural products and food at the aggregate level for all sectors and all regions over the period 1981-1999. The focus of this study is to investigate empirically the effectiveness of the EU and national policies concerning investment incentives in the processing of Greek agricultural products. Investors’ behaviour is examined by employing a synthesized traditional model. The dynamic model is estimated using alternative dynamic panel data methods, GMM and ML techniques. EU and national subsidies are instrumental in stimulating agricultural investments in the past decades, followed by investors’ expectations and, in most of the cases, investment lagged by one year. The empirical results obtained by ML by GMM are very similar, with the exception that the t-statistics are higher in the former case. Moreover, there is no evidence for autocorrelation or dynamic misspecification.
The Problem Of False Negative Results In The Use Of Digit Analysis
Authors: Linville Mark
Published: February 2016

Auditors are using the predictability of digit occurrence in recorded amounts as a tool to detect suspicious data (either erroneous or fraudulent). A key component in this type of analysis is the fact that digits naturally occur in predictable frequencies consistent with Benford’s Law. This study examines the effectiveness of common digit analysis techniques in detecting the presence of suspicious data. Using data created by graduate student subjects, I find that unless the percentage of suspicious data in the population is large (> 10%) digit analysis fails to detect the presence of suspicious data. Given this propensity to produce false negative results, auditors should not rely too heavily on digit analysis as a sole or primary fraud detection tool.
Do State Accountancy Boards Diligently Exercise Their Disciplinary Powers?
Authors: Colbert Gary , Murray Dennis , Reed Ronald
Published: February 2016

Certified public accountants (CPAs), similar to many other professionals, are regulated by the individual jurisdictions within the United States.  State accountancy boards issue licenses, which enable CPAs to offer their services to the public.  In addition to issuing licenses only to qualified applicants, state boards help protect the public by disciplining CPAs who violate provisions of their state accountancy laws.  This paper investigates the diligence with which state boards exercise their disciplinary powers.  We identified 73 CPAs who were disciplined by the Securities and Exchange Commission between 1996 and 1998.  State boards acted in 59 (80.8 percent) of these cases.  Overall, we conclude that state boards appear to be exercising their disciplinary powers in those cases where the SEC has disciplined a CPA.  Protection of the public appears to be a priority for many boards.  There is some evidence, however, that for a few boards their disciplinary efforts could be more forcefully exercised.
Are Moving Average Trading Rules Profitable? Evidence From The Mexican Stock Market
Authors: Metghalchi Massoud , Garza-Gomez Xavier , Glasure Yong , Chang Yung-Ho
Published: February 2016

This paper tests three moving average technical trading rules for the Mexican Stock Market. Results indicate that moving average rules do indeed have predictive power and can discern recurring-price patterns for profitable trading and support the hypothesis that technical trading rules can outperform the buy-and-hold strategy. Break-even one-way trading costs are estimated to be in the range of 1% to 3% over the period under consideration. These break-even costs, we believe, are large compared to recent estimates of actual trading costs, implying that moving average trading rules have predictive power and can generate consistent profits even after transaction costs are considered.
Determinants Of Audit Report Lag: Evidence From Korea - An Examination Of Auditor-Related Factors
Authors: Lee Ho-Young , Jahng Geum-Joo
Published: February 2016

This study examines whether audit report lag (ARL) is determined by certain auditor-related factors. Understanding the determinants of ARL is important as ARL is the single most important factor in determining the timing of earnings releases and, therefore, improving the timeliness of companies’ announcements of earnings. Unlike prior studies, we are particularly interested in examining various auditor-related factors including audit and non-audit fees received from clients, auditor tenure, type of auditor and audit opinion. Using a recent Korean sample, we find that ARL is negatively associated with non-audit fees paid to incumbent auditors, consistent with “knowledge spillover” from the provision of non-audit services. We also find that ARL is negatively associated with the use of Big 4 auditors and unqualified audit opinions. We are, however, not able to find significant associations between ARL and auditor tenure, or abnormal audit fees paid to incumbent auditors. Additional analyses provide evidence that abnormal audit hours and the provision of tax services, and services relating to the design of internal control systems, significantly reduce ARL.
The Effect Of Promotion Type And Benefit Congruency On Brand Image
Authors: Montaner Teresa , Pina José-Miguel
Published: February 2016

Sales promotion is a communication device increasingly used by companies due to its capacity to produce an immediate sales increase. However, although these activities generate good short- term results, they may also have side effects on the customers’ assessment of the promoted brands. The purpose of this paper is to delve into the effects of promotions on the expected product price and brand image. The results of the study reveal that the frequent use of promotions affect consumers’ evaluations of brand image, but the effect depends on the type of promotional tool and the product category. The frequent use of price promotions will lower brand image assessments whereas non-monetary promotions lead to higher brand evaluations. These results are moderated by the product category. Moreover, the expected price of a product is lower after frequent monetary promotions.
Do Gender Differences Exist In The Publication Productivity Of Accounting Faculty?
Authors: Jordan Charles E. , Clark Stanley J. , Vann Carol E.
Published: February 2016

Prior studies on gender differences in the research output of accounting faculty have provided contradictory findings.  The current study examines the publication productivity of male and female associate professors of accounting at doctoral and nondoctoral granting institutions and shows that no gender effect exists in the publication output of faculty at nondoctoral institutions.  At doctoral institutions, however, men publish at greater rates than women in the top tier accounting journals and also in a broadened set of academic accounting journals.  No gender effect exists when the journal list is expanded to include academic and professional journals.  In addition, results show that a gender selection bias for coauthors occurs as men tend toward male coauthors and women gravitate toward female collaborators.  With women underrepresented at the associate professor level at doctoral institutions, this gender selection bias may put women at a disadvantage for finding suitable research partners, which could explain their lower publication productivity.
Unit Root Investigation With Two Breaks Of Greek Velocity (1858-1938)
Authors: Varelas Erotokritos
Published: February 2016

In the present article the time series of Greek velocity are investigated for the presence of a unit root, allowing for maximum two breaks which take place at an unknown point in time. This methodology is preferred to conventional Dickey & Fuller tests because the covered time horizon, namely from 1858 to 1938, is characterized by a number of very important events, the nature of which is either economic or historical.
The Usefulness Of Accounting Information, Economic Variables, And Corporate Governance Measures To Predict Corporate Failure
Authors: Abou El Sood Heba S.
Published: February 2016

This paper has the core aim of investigating the usefulness of employing accounting information, macroeconomic variables and corporate governance measures to predict corporate failure in an Egyptian setting. The empirical study is directed to adapting a corporate failure prediction model applied to a sample of Egyptian companies listed in the Egyptian stock market. A sample of 79 companies drawn from the 100 most actively traded firms listed in the Egyptian stock market has been used for the empirical testing. A pooled sample is formed covering the period 2000-2005 inclusive. The empirical study emphasized improving failure prediction accuracy by introducing two classes of variables besides financial ratios based on accounting information. These classes of variables are economic variables and corporate governance measures. Logistic regression analysis has been used to test the predictive accuracy of four models. Model I included accounting information only. Model II added economic variables to accounting information. Model III included corporate governance measures and accounting information. Finally, model IV employed these three classes of variables together. Analysis of the statistical testing results indicated that employing the three classes of variables together improved the prediction accuracy to reach 84.8% in the classification sample and 78.2% in the validation sample. Furthermore, model IV is used to predict failure up to three years prior to failure and therefore can provide a tool for failure prediction for enhancing auditing, investment and credit decisions in an Egyptian market setting.
An Investigation Of The Impact Of Degree Of IFRS Implementation On The Comparative Accuracy And Bias Of Equity Securities Analysts East And West European Firms Earnings Forecasts
Authors: Djatej Arsen , Gao Grace , Sarikas Robert H.S. , Senteney David L.
Published: February 2016

This research investigates the comparative impact of country specific degree of IFRS implementation upon the accuracy and bias of West European and East European firms equity securities analysts earnings forecasts for 29 European countries 12 of which are characterized as being East European.  We utilize measures of equity securities analysts earnings forecast accuracy and bias in making comparisons of the impact of country specific degree of IFRS implementation upon the statistical properties of earnings forecasts for firms having domiciles in East European and West European countries.  Our results indicate that (1) analysts earnings forecast accuracy and earning forecast bias decreases in the sense that their association with magnitudes earnings changes decreases in relation with country specific degree of implementation of IFRS and (2) the degree of reduction in analysts earnings forecast accuracy and bias is statistically more pronounced for East European firms than for West European Firms.  Our results persist after controlling for cross-listing of ADRs on US securities exchanges.   Bases upon this evidence we conclude that the benefits of implementation of IFRS is marginally greater for East European firms that for West European firms.
The Propensity And Intensity Of Export Activities Of Companies Operating In Europe
Authors: Couto João Pedro Almeida , Tiago Maria Teresa Borges , Vieira José Cabral , Silva Francisco José Ferreira
Published: February 2016

Previous studies have explored the substantial benefits for companies and governments of exporting. Nevertheless the role of government has been analysed mainly trough export promotion programs and the importance of the subsidiaries of multinational companies to increment a country exports has not been tested together with other variables present in the literature on export performance. This research examines the export performance of companies in Europe. A sample of 239 companies in 12 countries was analysed and their level of exports was examined, using Logit and Tobit models. The contextual variables of the country of operations were combined with company characteristics, including dimension, age, and industry affiliation. The results show that foreign affiliation, age, country of operations and industry are important and that government efficiency is a key element to companies’ propensity and intensity of export.
Levers Of Control: Analysis Of Management Control Systems In A Slovenian Company
Authors: Tekavčič Metka , Peljhan Darja , Šević Zeljko
Published: February 2016

In the paper, we study management control from the Simons’ four levers of control framework point of view (i.e. diagnostic control systems, interactive control systems, beliefs systems, and boundary systems). The theoretical framework is tested by the use of an in-depth case study. We investigate how are MCS deployed by a case company according to Simons’ four levers of control and how does a company use them. The paper looks at tensions and balances between different styles of use of formal MCS, as well as between different types of control systems (e.g. formal vs. informal). The study’s contribution is that it incorporates a wider range of controls, including informal (i.e. social) mechanisms, to provide a more comprehensive analysis, as opposed to the majority of prior studies focusing on a more limited range of controls.
Evidence For Non-Linear Causality Between Public Spending And Income In The European Union Countries
Authors: Karagianni Stella , Pempetzoglou Maria
Published: February 2016

This paper deploys the non-linear Granger causality methods in order to determine the causal relationship between national income and government expenditure in the European Union countries over the post-war time period. For this purpose, six alternative functional forms of Wagner’s law have been adopted. The empirical results indicate support for non-linear causality between income and government expenditure and they may prove useful theoretical and empirical research for the regulators and the policy makers.
The Miller Ratio (MR): A Tool For Practitioners And Regulators To Detect For The Possibility Of Earnings Management (EM)
Authors: Miller James E.
Published: February 2016

The implications of the study of the MR (Miller Ratio) are the possibilities of, with future research support, the MR being both a beneficial, and easy to use, tool for practitioners and regulators to detect for the possibility of EM (earnings management).  The previously studied models were not designed to be utilized on a case-by-case basis since they were studied using large samples of firms in an attempt to make generalized statements about the effectiveness of the models.  The MR, designed to be utilized on a case-by-case basis, is easily computed.  If corporate managers were aware of this simple, easy-to-use tool to detect EM, they may be more cautious of engaging in this activity.  Essentially, the MR could assist practitioners and regulators in prioritizing their work load of companies to analyze.  It is another arrow in their quiver, so to speak. 
Institutional Impediments To Voluntary Ethics Measurement Systems: An International Perspective
Authors: Stovall O. Scott , Neill John D. , Reid Brad
Published: February 2016

Despite numerous appeals in the business ethics literature for a multiple-stakeholder perspective to corporate governance, in practice the widespread adoption of voluntary ethics measurement systems that consider multiple stakeholders remains elusive.  In this paper, we employ an institutional economics framework to examine the legal environment in several English-speaking countries in order to determine potential constraints that might cause managers to avoid the adoption of such systems.  Our findings indicate that in British Commonwealth countries (1) the courts tend to view stockholders as the primary corporate constituency group and (2) there is a lack of documentary privilege.  Therefore, any internally generated metrics on ethics and corporate social responsibility matters could potentially be either trivialized or used against the corporation in court proceedings.  Before adopting a voluntary ethics measurement system, managers should be aware of these and other potential institutional constraints that may impede such efforts.
Applying The Learning Curve To Operating Cash Flows In A Capital-Budgeting Framework
Authors: Roden Peyton Foster , Lizola-Margolis Pedro
Published: February 2016

This paper discusses the way financial managers can and should include the learning curve and its impact on cash flows when evaluating proposed capital projects. After examining finance text books and survey results to show that the learning curve is an ignored part of financial decision making, we briefly develop the mathematics of the learning curve then illustrate its application to labor costs and operating cash flow. We calculate the difference between operating cash flows without and with learning to illustrate the systematic impact of the benefit of learning. We note that applying the learning curve to the estimation of expected operating cash flows offers financial managers the opportunity not only to enhance the evaluation process, but also to provide a useful way to look at investing and financing projects. (JEL: C60, M41)
Risk Manage Capital Investment Decisions: A Lease vs. Purchase Illustration
Authors: Zeller Thomas L. , Stanko Brian B.
Published: February 2016

This paper demonstrates how to build risk into capital investment decisions.  We illustrate how to combine distribution theory, technology, and a business professional’s skills and insight into a capital investment analysis.  In addition, we show how management can approximate the risk of each cash flow estimate and display the overall capital investment results.  This framework is extended by showing how a mutually exclusive decision can be improved, using a lease versus purchase example.[1]  An Excel template is readily available from the authors allowing a hands-on application of the framework presented in this paper.  In addition, this paper positions the reader to comfortably use more advanced analytics, such as Monte Carlo simulation, a tool that is readily available in commercial software applications.

This paper focuses on the application of net present value.  The advantage of using net present value in a capital budgeting decision is that it shows the potential stakeholder wealth creation and wealth destruction.  An internal rate of return analysis is intentionally left out of this paper.  According to Brealey, Myers and Allen, Principles of Corporate Finance, New York, NY: McGraw-Hill/Irwin 2006, pp. 91-99, internal rate of return should not be used to evaluate mutually exclusive capital investments. 
Shared Vision In Customer And Staff Satisfaction: Relationships And Their Consequences
Authors: Kantabutra Sooksan , Avery Gayle C.
Published: February 2016

Little research has been conducted into the relationship between customer and staff satisfaction, and the attributes and content of visions that leaders and followers share. This study examined relationships between shared visions characterized by brevity, clarity, challenge, stability, abstractness, future orientation, and ability to inspire, and containing reference to customer and staff satisfaction, and outcomes of customer and staff satisfaction in Australian retail stores. Overall customer and staff satisfaction, and stores with a vision were associated with one another. Associations were also found between shared visions characterized by the attributes and containing the reference, and enhanced customer and staff satisfaction.
Assessing The Characteristics Of Accounting Students
Authors: Fallatah Yaser Ahmad , Talha Mohammad
Published: February 2016

This paper examines the relationships between accounting students and some intangible factors that might influence the students’ decision of being accountants. Some of these factors are oral communication apprehension, written communication apprehension, ambiguity tolerance, gender, and students’ learning style. The elements of each construct are discussed and related to the relevant theoretical frameworks. Results indicate that writing and oral communication apprehension and money are the primary factors that influence students to major in accounting. The study is supposed to help inform accounting educators and practitioners about the potentially serious communication problems. Thus, changing accounting curricula is long overdue.  
The Influences Of Absorptive Capacity And Social Capital On Knowledge Transfer
Authors: Kumar Naresh , Rose Raduan Che , Muien Nurul Fatiha Abdul
Published: February 2016

This study investigated the current business practices in Japanese electrical and electronics manufacturing subsidiaries as well as the influences of both absorptive capacity and social capital on knowledge transfer within the firms’ intra-MNC network in the wake of full AFTA implementation in 2018. Results showed that employees are generally satisfied with the current practices in these subsidiaries with relation to the eight dimensions being studied; learning system, training, communication, reward, promotion, compensation, trust and centrality. This study also found that absorptive capacity has definite but small relationship with knowledge transfer, while social capital bears much more substantial relationship with the former.
Loan Officer Confidence, Continuous Reporting, And The Loan Approval Process
Authors: Searcy DeWayne L , Ward Terry J.
Published: February 2016

This study explores the issue of loan officers’ confidence in making loan approval decisions across different loan monitoring types. Loan officers were asked to assign loan approval probabilities given a traditional loan monitoring capability or a continuous reporting capability. We find that the higher the level of confidence the loan officer had in his/her loan approval decision, the higher the loan approval probability assigned to the loan application.  However, that effect was not consistent across monitoring types (traditional vs. continuous reporting). Our results suggest that loan officer confidence only impacts the loan approval probabilities for the traditional monitoring cases. Confidence did not significantly influence loan approval probabilities for the continuous reporting cases; although, the loan approval probabilities for the continuous reporting, low confidence cases exceeded 50 percent.
The Impact Of Audit Quality On Earnings Management To Achieve User Reference Points In EPS
Authors: Jordan Charles E. , Clark Stanley J. , Hames Charlotte C.
Published: February 2016

Prior research (Thomas, 1989; Das and Zhang, 2003; Jordan et al., 2008a) presents evidence that managers manipulate income to round up earnings per share (EPS) to key user reference points when unrounded EPS fall only slightly below these breakpoints.  In the U.S., studies on audit quality suggest that, relative to small audit firms, large CPA firms provide higher quality audits and, as such, more aggressively constrain their clients’ attempts to manage earnings in general (e.g., see Francis and Krishnan, 1999; Krishnan, 2003).  However, research outside the U.S. finds no consistent audit quality differential based on auditor size (e.g., see Piot and Janin, 2007; Maijoor and Vanstraelen, 2006).  The current study examines whether audit quality, as proxied by auditor size, in the U.S. constrains earnings management to effect user reference points in EPS.  Using the Big 4 versus non-Big 4 dichotomy as the measure of auditor size and audit quality, results suggest that audit quality significantly restricts management’s attempts at rounding up EPS as clients of Big 4 firms show no major signs of this manipulative behavior while non-Big 4 auditees appear to round up the first digital position right of the decimal point in EPS across zero to increase the digit immediately left of the decimal point by one.
University Student Shopping Patterns: Internet vs. Brick And Mortar
Authors: Arnaudovska Emilija , Bankston Kelly , Simurkova Jana , Budden Michael C.
Published: February 2016

In today’s retail environment there are some who enjoy shopping and some who do not.  People have many options when it comes to where they shop; they can shop from home or venture out to the store.  Shopping has never been as fast and convenient as it is today. Technology is more advanced and internet usage is rapidly increasing.  Retailers are realizing internet shopping is a phenomenon that is not going to disappear.  It is a rare retailer who has no web presence.   In order to satisfy customers, managers need to examine how people shop.  College students have their own shopping behavior as this study examines.
A Cognitive Model Of Trust In E-Commerce: Evidence From A Field Study In China
Authors: Gao Yuan , Wu Xiaoyu
Published: February 2016

Trust formation in the virtual environment is a complex process and is influenced by a plethora of factors.  This paper proposes a cognitive model of trust in e-commerce based on consumer research and the trust literature. It argues that perceived informativeness, perceived entertainment, and perceived irritation of online shopping, coupled with trust propensity, contribute to a customer’s general trust in e-commerce and intention to use e-commerce.  This model is tested in a field study in China via a survey instrument. Path analysis of data collected shows that all proposed relationships in the model are supported in the hypothesized directions. Results demonstrate that online marketers and Web system designers alike should pay keen attention to elements that may influence an Internet shopper’s cognitive perceptions in order to nurture consumers’ trust in e-commerce and realize the full potentials of doing business online.
Profit Maximization In The National Football League
Authors: Brunkhorst John P. , Fenn Aju J.
Published: February 2016

This paper investigates if NFL teams maximize profits with respect to ticket price.  We modify Ferguson et al’s (1991) NHL paper as it pertains to the NFL.  A profit function incorporating variable revenue and cost factors such as gate receipts and player expenses is employed.  A systems model is used as the estimation procedure to identify the determinants of ticket prices for NFL franchises.  The model implies a Kuhn-Tucker based cross equation parameter restriction that result from attendance capacity constraints.  Results from the regression are then used in conjunction with other data to numerically test the first order necessary profit maximization conditions.  The results indicate that over 80% of NFL teams set ticket prices in a manner consistent with gate receipt and profit maximization.
Public Accountants’ Perceptions Of The Acceptability Of Earnings Management Practices Through The Employment Of GAAP In The Post-Sox Period
Authors: McEnroe John E.
Published: February 2016

Over fifteen years ago, Martens and McEnroe (1992) conducted a behavioral study involving earnings management through the use of Generally Accepted Accounting Principles (GAAP). Their findings indicated that auditors issued unqualified audit opinions on those financial statements and perceived little risk to litigation as a result. A decade later they conducted a similar study (Martens and McEnroe 2002) with the expectation that increased attention to earnings management by then chairman of the Securities and Exchange Commission (SEC), Arthur Levitt, would reduce auditors’ perceptions that the letter of GAAP is in itself an aegis or “safe harbor” against litigation. Although the authors found that auditors had become more conservative, they still issued unqualified opinions on financial statements in which transactions were reported in their form rather than their substance. Given the accounting scandals of Enron and WorldCom, among others, and the enactment of the Sarbanes-Oxley Act (SOX) in 2002, especially with its officers’ certification requirements, it was posited that auditors would exhibit a much more conservative approach than in either of the two previous studies. The results indicate that although auditors are more conservative than in the 1992 study, they still allow clients to engage in earnings management practices through the use of GAAP by issuing unqualified audit opinions on their financial statements.
Product Diversification In Competitive R&D-Intensive Firms: An Empirical Study Of The Computer Software Industry
Authors: Chiang C. Catherine
Published: February 2016

This paper studies the effect of diversification into different product categories within competitive high-tech industries. Empirical results obtained  using the prepackaged computer software industry as the sample show that: (1) diversified firms appear to be more profitable (have higher returns on equity), attain a larger market share, enjoy higher excess market returns, and have a higher market-to-book ratio; (2) from the investors’ perspective, diversification per se does not increase firm value. Realized higher values do not appear to come from more efficient use of assets. Rather, they stem from the higher innovation efficiency (higher sales revenue per employee) and higher levels of R&D spending for firms that have diversified into different product categories than for firms that confine development to a single product category. 
South African Income Tax Implications For Income Earned In Virtual Worlds
Authors: Pienaar SJ , Steyn TL
Published: February 2016

There has been a significant increase in the number of internet business and e-commerce transactions over the last few years.  More recently, the development of virtual worlds on the internet has become an important feature of the business environment.  Although some research has been conducted in the United States of America into the tax consequences of income earned in virtual worlds, no such research has been conducted in South Africa.  This study adds to the American research by providing a critical analysis of the topic from the South African tax perspective.  The specific aim of the study was to determine whether income earned by South African residents from structured and unstructured virtual worlds respectively would qualify as gross income in terms of the South African Income Tax Act 58 of 1962.  It builds on previous international research, but offers a new perspective from the South African point of view. The study will make a valuable theoretical contribution to the application of the basic principles of gross income, and will deal with a brand new concept which did not exist when the principles were laid down.  The research was limited to determining whether the income earned in virtual worlds by South African residents who are taxed on their world-wide income would be included in gross income as defined by the South African Income Tax Act.  Capital gains tax consequences were not considered in any transaction where the income was classified as being of a capital nature.  Also excluded were deductions available to taxpayers in terms of the income included in gross income, and there is no detailed discussion  on when a taxpayer would be regarded as engaging in virtual worlds as a hobby as opposed to conducting a business.  Future research could be extended to this particular area.  This research concluded that most transactions in virtual worlds resulting in income would qualify as gross income under the South African Income Tax Act.  At this stage, the only possible disqualification in terms of the South African gross income definition appears to be income received “of a capital nature”.
A Portfolio Approach To Economic Development
Authors: Vu Tam Bang , Jalbert Terrance , Hammes David L.
Published: February 2016

In this paper we introduce and empirically demonstrate a new model of economic development that we call Portfolio Economic Development.  Our approach borrows from portfolio theory in finance and focuses on the risk-return nature of development projects.    The paper examines how the loss of a dominant industry group from an island economy causes significant economic problems and how those problems might be mitigated by developing the economy in a portfolio context. The approach can help planners select optimal mixes of projects for development of any economy experiencing a transitional period. 
Appraisal Of Ethical Performance: A Theoretical Model
Authors: Selvarajan T. T. , Sardessai Ron
Published: February 2016

Ethical behavior of organizational members has been the subject of considerable interest during the past decade both among practitioners and academics.  However, performance appraisal systems, for the most part, have exclusively concentrated on business performance to the exclusion of ethical dimensions of job performance.  Given the increasing importance of ethical issues in organizations, there is a need to correct this aberration in the current approach to appraisal system development and include ethical dimensions in the performance appraisal domain.  As a first step to the inclusion of ethical dimensions to the job performance, we propose a cognitive model for appraisal ethical performance in organizations.  The performance appraisal literature based on the cognitive processing paradigm (e.g., Landy and Farr, 1980) provides a rich theoretical foundation for studying ethical judgment process.  Specifically, the cognitive approach describes how the performance judgment process is influenced by schematic, attributional and affective influences when processing ratee performance information. 
The Influence Of Boards Of Directors Characteristics On Strategic Decision-Making: Evidence From Greek Companies
Authors: Balta Maria Elisavet , Woods Adrian , Dickson Keith
Published: February 2016

This study explores the influence Boards of Directors’ demographic characteristics on the process of making strategic decisions. Empirical testing is based on a sample of 105 Greek companies listed on the Athens Stock Exchange. The results suggest that educational level affect both the financial reporting and the hierarchical decentralisation in the strategic decision-making process. Also, functional background of executives was found to be related with financial reporting. However, the educational specialty did not appear to have any significant influence on the strategic decision-making process. In light of these findings, implications for practitioners are made and avenues for future research are suggested.
Environmental Impact And Business Management In Rural Tourism
Authors: Vargas-Vargas Manuel , Mondejar-Jimenez Jose
Published: February 2016

The growth in rural tourism and the importance of the environment to its sustainability have given rise to a growing interest in analyzing the impact of tourist activity and in studying how the environmental resource fits into business management in the industry. But the economic characteristics of rural tourism businesses and the diversity and complexity of their environmental impacts have made it difficult for a generally accepted framework for such analyses to emerge. There is wider agreement on the key role played by entrepreneurs’ environmental awareness in the adoption of eco-friendly management practice. In this context, and within the Spanish region of Castilla-La Mancha, this paper undertakes a questionnaire-based study of the environmental awareness of entrepreneurs in rural tourism using the partial least squares (PLS) method to estimate its latent dimensions and the environmental impacts perceived.
Resuscitating The Dormant Accounting Scholar
Authors: Burke Kimberly Gladden , Taylor Susan Washburn , Fender Blakely Fox
Published: February 2016

Despite the fundamental importance of publication to the academic institution, there are a significant number of dormant accounting scholars who simply do not publish.  Building upon an existing literature on the determinants of academic productivity, this paper identifies factors which have the potential to revive scholarly productivity.  Specifically, the current research reinforces the positive impact of scholarly presentations, sabbatical leave, and teaching assistants on reviving the dormant scholar.  Similarly, reducing activities which compete for the academic’s time (teaching undergraduate courses, consulting, and service to the institution) will increase the odds of publication. 