Comparative Research on the Stock Return Distributional Models

This paper compares the stock return distribution models of mixture normal distribution, mixed diffusion-jump and GARCH models based on the data of Chinese stock market. The Schwarz criterion is also used. We find all these models can capture the features of stock returns partly. EGARCH model is the best fitting to daily return and stable during different period. When the weekly and monthly returns are tested, the differences of the models＇ fitness become unobvious and unstable.     

The Research on the Methods to Confirm the Key Control Points of the Internal Accounting Control

The control points are the key issue of the internal control, and the key control points mean the control joints that play an important part in the process of the operation. If these key control points are not well controlled, the process of the operation disposal will be mistaken and cannot reach the goal. However, for the confirmation of the control points, many studies only do qualitative research from the important aspect instead of quantificational research. They are devoid of a series of scientific methods. This paper advances quantificational methods to confirm the key control points from two aspects of job evaluation and mathematics model.     

Research on the CPA Audit Independence Risk Assessment Based on the Rough Set Theory

The assessment mode of the CPA audit independence risk based on the Rough Set Theory is a risk assessment method and using the Analytical Hierarchy Process, whose aim is to solve the bid management in the process of the Financial Statement Insurance. Firstly, according to the general instance of the accountant office, the experts grade the risk elements to establish the decision-making table; secondly, construct the judgment matrix using the attribution dependence degree of Variable Precision Rough Set to obtain relative importance, and further get the general importance for all of risk elements; Finally, establish the general assessment mode of the audit independence risk.     

Application Research of the Integrative Mathematics Model in Household Consumption Behavior

In this paper, two hypotheses are integrated into an independent model to explain consumer behavior. The model is empirically tested using data from China Family Cost Survey of 2001. The results indicate that China household consumption behavior is commonly explained by two hypotheses as an independent model, reverse to previously treating them as commutative exclusive hypotheses.     

Positive Research on the Financial Statement Fraud Factors of Listed Companies in China

This paper studied the ＂pressure＂ and ＂opportunity＂ factors that caused financial statement fraud on the basis of the data of 41 A-share listed companies （1999-2004） in China which had been forfeited by China Securities Regulatory Commission （SRC） because of accounting irregularities. The author found that avoiding ＂ST＂ and ＂PT＂ was the primary pressure, and the opportunities mainly came from the higher top 10 shareholders＇ ownership concentration, the lower proportion of independent directors, the fewer number of directorate meetings and shares owned by the directorate members, board chairman and CEO held by one person and the ineffective supervisor boards. We also found that the companies involved financial statement fraud had the lower first majority shareholder＇s share proportion and they changed CPA firm more frequently.     

Empirical Research on the Influence of the Differences between PRC GAAP and IAS/IFRS on Chinese Listed Companies

With the support and promotion of many international organizations, and quick development of accounting standards globalization, the high quality global accounting standards led by IASB are striding towards us at an astonishing speed. After continuous reform, China has made remarkable performance towards accounting standards globalization. From the analysis of the past six years （1999-2004）, the authors find out that although there are systematic differences between PRC GAAP and IAS/IFRS and the differences have significant impact on financial disclosures of Chinese listed companies, the influences have weakened. This means that the differences between PRC GAAP and IAS/IFRS have narrowed and that PRC GAAP is converging towards IAS/IFRS.     

Does Culture Matter in Inter-Firm Cooperation? Research Consortia in Japan and the USA

Collaborative research consortia allow firms to pursue scale and scope economies in research, finance large costly proposals, share risks, avoid unnecessary duplication, internalize the externalities created by research spillovers, and allow the use of firm-specific complementary skills and resources. In this study we examine the evolution of cooperative research organizations in the USA and Japan. We explore the factors which influence the emergence of alternative forms of cooperation. Specifically, we examine the role of culture and the institutional environment in molding the organization of cooperation between firms in R&D and the consequences of such cooperation. © 1997 John Wiley & Sons, Ltd.     

When Does University Research Get Commercialized? Creating Ambidexterity in Research Institutions

We examine the tensions that make it difficult for a research‐oriented university to achieve commercial outcomes. Building on the organizational ambidexterity literature, we specify the nature of the tensions (between academic and commercially‐oriented activities) at both organizational and individual levels of analysis, and how these can be resolved. We develop hypotheses linking specific aspects of the organization and the individual researcher to the likelihood of their research projects generating commercial outcomes, and we test them using a novel dataset of 207 Research Council‐funded projects, combining objective data on project outcomes with the perceptions of principal investigators. We show that the tension between academic and commercial demands is more salient at the level of the individual researcher than at the level of the organization. Universities show evidence that they are able to manage the tensions between academic and commercial demands, through for example their creation of ‘dual structures’. At the individual level, on the other hand, the tensions are more acute, so that the people who deliver commercial outcomes tend to be rather different to those who are accustomed to producing academic outcomes.     

Research on the New Developments of Corporate Governance, Board of Directors and Management Accounting

Based on corporate governance, this paper concludes that the core of corporate governance is the board of directors of the listed company. It also analyses the function of the board of directors on preparing, applying and appraising the strategic planning. It draws a conclusion that the new development of management accounting is the application of the board of directors and its several committees.     

Research on the government＇s audit regulation behavior based on game theory in China

Audit information quality is important for capital market to develop healthily. The efficiency is limited, and in a long time, it just depends on market to govern audit behavior. In order to improve the audit quality, the government has to govern independent audit behavior. It is difficult to observe CPA＇s behavior directly, however, the government has to game with multiple agencies. This paper analyzes the game behaviors among the government, the accounting institutions and the CPA based on welfare economics theory and game theory. The paper＇s aim is to provide advice for government to choose the appropriate governing behaviors.     

Research on the capital structural optimization based on the coexistence condition of company＇s income tax and individual income tax

Capital structure denotes enterprises＇ form and proportion relation of various long-term funds source. The capital structure is the combination problem of the long-term funds about enterprise development and it is the quantity and proportion between every fund form. This paper analyzes the various factors which affect capital structural decision-making, and introduces capital structural optimization theory of the shelter benefit of tax revenue and bankruptcy cost balance. It studies the method and the evaluation criterion of capital structural optimization. And it constructs capital structural optimization model of coexistence condition of company＇s income tax and individual income tax. This will be very helpful for the rationality of enterprise capital structure.     

Research on Financial Contract Structure

Financial decision-making is the central link of enterprise financial management. The prevalent theory of financial decision-making is ＂capital structure＂. This paper makes a new explanation of ＂capital structure＂, which is ＂financial contract structure＂ based on interacts among stakeholders. It developed the intension and extension of＂capital structure＂.     

Ethics in the Production and Dissemination of Management Research: Institutional Failure or Individual Fallibility?

Over the past 50 years, we have witnessed considerable growth in business education, increased competition among business schools, and higher expectations for faculty scholarship. Increasing competition among scholars for limited publication opportunities in top‐tier journals and the proliferation of bottom‐tier journals has given rise to a variety of systemic ethical issues and dilemmas, for scholars and their institutions. In this article, we critically examine the current state of normative publishing activities and expectations, including doctoral education, promotion and tenure processes and research expectations, editorial and peer review processes, academic freedom, acceptable breadth, depth, and accuracy or legitimacy of research designs and methodologies, academic integrity, replication, and data availability concerning the trends and implications of contemporary and future management scholarship. We also provide recommendations for additional research and discussion on these issues.     

Where do We Go From Here? New Perspectives on the Black Box in Strategic Human Resource Management Research

The main objective of the present research is to briefly review the strategic human resource management (HRM) literature from multilevel theoretical perspectives to summarize what we know about mediating mechanisms in the HR–performance relationship. By doing so, we highlight future research needs to advance theoretical understanding of the ‘black box’ in strategic HRM research. Furthermore, by offering additional theoretical perspectives that can be used to understand the mediating mechanisms at different levels, we suggest future research directions that capture the complexities associated with strategic HRM through a multilevel theoretical lens. Implications of the model are discussed.     

In Search of ‘Successful’ Accounting Research

This critical commentary on Ohlson's paper (in this issue) problematises the concept of ‘successful’ accounting research; highlighting its ex-post, variable nature as a socially manufactured object. Contrasting Ohlson's notion of a singular body of shared ‘common knowledge’ in accounting with the plurality of knowledges valued by different research communities, the commentary advocates a deliberate courting of heterogeneous research paradigms so as to stimulate insightful scholarship. The commentary also reflects on systemic trends underlying the growth of research measurement programmes, and points out that the quest for ‘successful’ research could perversely undermine the generation of memorable and innovative research. Finally, individual researchers are encouraged at each career stage to determine for themselves the intended results to which they aspire, conscious that there are multiple notions of ‘successful’ research and therefore multiple routes to success.     

Research on gender structure of accounting profession in China

One of the most striking phenomena in recent years has been the increasing proportion of women in the labour force, enabling women in many fields to use their potential and to achieve economic independence. So the gender structure analysis becomes more and more important to society and economic development. Accounting research lacks the study of gender issues. This paper intends to summarize the gender structure of accounting profession in China, and aims to explore the critical factors such as economic system of government, traditional characteristics of women, glass ceiling and psychological factors which take a great influence on the gender structure of accounting profession. A conclusion can be made that the proportion of women participation in accounting profession is higher than men, but the majority of senior accounting professionals in China are still men.     

The Empirical Research on Auditor Independence and Mandatory Auditor Rotation

Using, the method of correlation coefficient, this paper discusses the empirical relationship between audit tenure and audit opinion in annual reports in China A-share market and period of mandatory rotation of auditor. The research finds that the negative correlation between auditor tenure and non-standard unqualified audit opinion is statistically significant, and auditor tenure might impair his/her independence. To enhance auditor independence and improve audit quality, it is necessary to rotate mandatory auditor. The results also fred that consecutive auditing years should not exceed 5 years when the existing auditor has been the auditor of listed company, and mandatory rotation of auditor adapts to the rotation of CPA firms in charge of a client.