Accounting research in the Asia–Pacific region: an update

We provide an updated study of accounting research in the Asia–Pacific region using the publication records of six premier accounting journals (top-6) from 1991 to 2010, and augment the findings with the broader range of publications from an additional twenty accounting journals during the same period. Overall, the higher education institutions (HEIs) in the region produced 7.7 and 11.1 % of the total weighted number of articles (wt-articles) in the top-6 and 20 accounting journals. Interestingly, HEIs in the region exhibit a trend toward an increase in the yearly wt-articles and relative percentage of the total. The general performance of the accounting programs in the region is persistent during 1991–2010. The Asia–Pacific accounting programs are particularly successful in placing publications in journals such as Review of Quantitative Finance and Accounting. The accounting research productivity, however, is dominated by select institutions in Australia, Hong Kong, New Zealand, and Singapore. Several institutions in these four countries/areas maintain a consistently high ranking. In terms of top-6 accounting journal publications, the top five institutions are the University of New South Wales, Nanyang Technological University, the University of Melbourne, Hong Kong Polytechnic University, and Hong Kong University of Science and Technology. The percentage share of the research output among the top five institutions is high, suggesting that a high hurdle is set for up-and-coming institutions to move up the rankings.     

Are REIT IPOs Unique? The Global Evidence

Previous studies of real estate investment trust (REIT) IPOs have focused primarily on REITs listed in the U.S. These studies in general find that, unlike industrial firm IPOs, REIT IPOs in the U.S. exhibit an abnormally low initial-day return and mixed long-run performance. Our study examines this puzzle using a large sample of 370 REIT IPOs from four continents (14 different countries) during the 1996–2010 period. We find that (1) the newly-established REITs in other countries exhibit similar initial-day return pattern as in the U.S., (2) the low initial-day return might be caused by the fund-like structure of REITs and the re-deployable assets (real estate) they hold, (3) the slightly positive initial-day return is offset by the poor performance in the 190 days subsequent to the IPO, and (4) the change in U.S. REIT IPO performance before and after 1990 is likely due to a change in the REIT structure.     

Aktuareksamen 1925 ver Universitetet i Oslo

Abstract

Let be the order statistics in an ordered random sample of size n from the normal population N(±, σ² with mean ± and standard deviation σ. The present paper (1) provides the optimum ranks coefficients and efficiencies of Lloyd's [6] best linear unbiased estimates (BLUE) of ±, σ (when one is known) and (±, σ) based on the k = 1,2, 3, 4 order statistics selected from (Ll) which give the highest efficiencies and (2) demonstrates that efficiencies are only slightly reduced if the BLUE of ± and σ (when one is known) based on the order statistics with ranks are replaced by the BLUE based on the order statistics with ranks , where are the optimum spacings for Ogawa's [8] asymptotic best linear estimates (ABLE) of ± and σ when one parameter is known, or even are replaced directly by the ABLE with their corresponding optimum spacings.     

Market states and disposition effect: evidence from Taiwan mutual fund investors

We study the disposition effect across market states in the context of mutual fund investors in Taiwan. Using mutual fund data at the fund and individual levels during July 2001 to October 2008, we find that the disposition effect varies across market states. Our results suggest that investors redeem their mutual fund units more under a bear market than a bull market when they have extreme capital losses. When investors have moderate capital gains, they are less active in redeeming their mutual fund units under a bull market relative to a bear market. Under a neutral market, investors actively redeem mutual fund units in both winner and loser mutual funds except when they have extreme capital losses. Thus, disposition effect is not uniform; it varies by market condition. In addition, the disposition effect phenomenon also exists for Taiwan mutual fund investors as well. Our findings are robust to aggregate and individual investor levels.     

Product placement practices in prime-time television programmes in Hong Kong

ABSTRACT

Product placement research tends to show how product placements impact consumer behaviour but less research examines the nature of product placement execution. This is the first study to examine product placement execution in Asia focusing on Hong Kong prime-time television programmes. Specifically it explores the prevalence of brand appearances, characteristics of programmes linked to brand appearances, features of placed brands and products, modality of brand appearances, character interaction with placed products and the placement context. It was found that integrating brands in television programmes in Hong Kong seems to be well supported by advertisers, with one brand appearing in every 11 minutes of programming. Less than half of brand appearances were disclosed at the end of the programmes, while none were disclosed prior to the programme which raises questions about regulation of the practice. Results of the analysis provide useful insights into the practice of product placement in this fast growth context and its (dis)connection with existing product placement literature.     

Leisure corporations,beer brand culture,and the crisis of masculinity: the Speight’s ‘Southern Man’ advertising campaign

Leisure corporations and their brands are becoming increasingly signified to represent certain values and attitudes towards leisure and particular aspects of identity. One popular leisure product and practice is beer and its consumption, which also plays a role in constructing identity and, more specifically, masculinity. Within the context of contemporary promotional culture, beer advertising serves to reproduce the cultural links between masculinity, sport/leisure, and the consumption of beer, which form a theorised ‘holy trinity’. In this paper, we focus on Speight’s, one of New Zealand’s renowned breweries and beer brands, to explore the ways in which its promotional culture illuminates notions of a crisis of masculinity. Our multimethod, qualitative approach combines contextualisation with the critical textual analysis of two advertisements from the ‘Southern Man’ television campaign and interview data obtained from one key cultural intermediary, the campaign’s creator. From this, our analysis elucidates three key dimensions about the important role of the Speight’s ‘Southern Man’ advertising campaign as a site for understanding masculinities, in addition to how they are constructed and, ultimately, how they embody a crisis of masculinity. The first is the campaign’s exploitation of societal cleavages. The second is the campaign’s explicit use of nostalgia. And the third is the campaign’s omission of ‘other’ masculinities.     

The Impacts of Mass Media on Organic Destination Image: A Case Study of Singapore

The shaping of organic destination image received limited investigation though it is an important factor influencing destination image and tourist's intention to travel. This study explores the impacts of mass media on shaping the organic destination image of tourism destinations. The organic destination images of Singapore in the views of Hong Kong residents were explored. This study explores the consumers' subconscious awareness of Singapore, and identifies that organic destination images are the outcome of readers' assimilation of material from newspapers, publications and books. The findings also demonstrate the process underlying the changes of organic destination images due to the information feeding of mass media. The findings indicate the importance for destination marketing organizations to monitor the new reports related to the destination in its main tourist origin countries/regions, and strategically deploy their marketing efforts to leverage the impacts of positive news reports, minimize the negative influence of unfavorable news.     

广州咸水歌及其旅游开发初探

疍民是广州一个具有独特民俗文化的水上族群,其传唱的咸水歌是具有岭南地区特色的非物质水文化资源。广州咸水歌的产生与疍民所处的生产、生活环境密切相关,随着疍民的逐步上岸居住,目前极少有疍民后代传唱咸水歌,其文化传承问题突出。在目前列入省级非物质文化遗产名录的基础上,应该利用已有条件、结合已有旅游线路开发具有水文化特色的旅游产品,实现咸水歌开发与文化保护的共赢。     

Labour relations in transition in Eastern Europe

This article discusses the emerging models of labour relations in Bulgaria, the Czech and Slovak Republics, Hungary and Poland. It focuses on the institutions of trade unions, tripartism, collective bargaining and participation and considers the degrees of similarity and difference between the countries.