The relationships between IFRS,earnings losses threshold and earnings management

An increasing number of countries have adopted International Financial Reporting Standards (IFRS). Prior research indicates that IFRS increase the relevance of financial statements, but also increase opportunism in earnings management (EM). Despite this, no evidence is found in this study to demonstrate that the adoption of IFRS increases the use of EM by companies as a whole. Furthermore, the results indicate that the use of IFRS can enhance the neutrality of financial statements. However, these phenomena occur only in the case of firms with positive earnings. Therefore, if a firm faces earnings losses (ELOSS), the manager will often exhibit EM behaviour after implementing IFRS. Thus, when the firm has ELOSS and adopts IFRS, the situation that results will usually decrease the neutrality of financial statements. As for the management implications, these findings suggest that the government and regulator should implement more in-depth supervision to prevent the increased use of EM by managers following the adoption of IFRS.     

The historical evolution of demographic data compilation,evaluation and use in South Africa

The compilation and evaluation of demographic data in South Africa have advanced over the years, despite a variety of socio-political constraints characterised by exclusions of entire population groups, poor cooperation in data compilation by individuals and inadequate institutional capacity for the compilation of data for the black population. Data compilation proceeded unevenly for the component racial population groups, and the use of demographic data was informed by separatist ideology. Supportive legislative measures were not responded to appropriately owing to political and social realities. The advent of democracy in South Africa in 1994 opened new vistas and challenges for developments, based on a new ideological orientation and the foundations that were put in place over the years. Research and monitoring of progress in this area are now mandatory.     

Male–female earnings differentials in early 20th century Manila

How might earnings of men and women have differed in poor countries a century ago? We know very little but a one-worker-in-ten labor market survey conducted in Manila in 1900 can help to establish baseline earnings patterns. In terms of raw means, women's earnings were about 30 percent less than men's, but both were distributed so that in some industries there were women who earned more than the average man. Controlling for hours, occupations and firm characteristics left female earnings discounts that varied by occupation from nothing to nearly half, ceteris paribus. Women workers concentrated in relatively skilled tobacco processing work, paid by the piece. Within this industry, productivity differentials were confounded by occupational segregation, however, in which men made the more expensive cigars and women the cheaper cigars and cigarettes.     

Superior female education: Explaining the gender earnings gap trend in Thailand

It is well-known that along with Thailand's remarkable increase in real income per capita during 1985–2005, an increase in overall income inequality was observed. What is not documented in the literature is that, during the same time period, the gender earnings inequality declined considerably. This paper seeks to identify the main factors that contributed to the decline in gender earnings gap in Thailand's wage and salary sector during 1985–2005. A parametric methodology, the Neumark (1988) version of the Blinder–Oaxaca (1973) method, is implemented in order to decompose gender earnings gap. I also make a methodological contribution by proposing a way to modify the DiNardo–Fortin–Lemieux (1996) nonparametric decomposition method so that its results are comparable to those from the Neumark version of the Blinder–Oaxaca method. The key findings of this paper are as follows. First, I find that increases in female education and changes in unobserved factors, which were concurrent with modernization, were the main sources of the decline in gender earnings gap. Second, over time, improvements in the education of females in this sector surpassed that of males. However, the superior education of females did not result in females earning higher than males due to the existing counteracting effect of the unexplained factors. Finally, the nonparametric investigation corroborated the results from the parametric methodology.     

农地产权制度的历史演进与启示

本文对我国农地产权制度的历史变迁进行了梳理,分析其制度变迁的路径依赖,提出强化和完善土地使用权是我国农地产权制度进一步改革的方向。     

我国高等教育融资模式的历史演化及未来趋势

高等教育融资渠道多元化已是全世界高等教育筹资的大势所趋。我国正在积极探索渠道多元、结构合理的高等教育融资模式。本文以时间为线索,以作为当前高等教育第二大资金来源的学费为切入点,客观地回顾了我国高等教育融资模式的历史演化进程,并对未来的发展趋势作出合理展望。     

西方国家货币政策中介目标的历史演进及其启示

西方国家的货币政策中介目标经历了从贷款量、利率到货币供应量再到目前以利率为主要调节目标,多信息变量并重的格局。当前流行的通货膨胀目标制事实上是将传统中介目标功能分离、分散于多个变量,而又以利率为主要中间调节目标的货币政策框架。     

A comparative examination of the time-series properties and predictive ability of annual historical cost and general price level adjusted earnings*

Abstract. This empirical study is a response to the FASB's call for further research into the properties of alternative accounting measurement methods. There exists no empirical evidence on the time-series properties and predictability of general price level (GPL)-adjusted annual earnings data. In order to assess the effect of the monetary gains or losses on the stochastic properties of GPL-adjusted data, earnings were calculated both with and without inclusion of the monetary gains or losses. The results of the time-series analysis of the earnings series across the alternative accounting methods indicated that (a) just under one-half of the historical cost (HC) series followed a random-walk-type process with most of the remainder being autoregressive, and (b) the GPL series showed substantially fewer following a random walk process with a corresponding increase in the number of stationary series (modeled as autoregressive or white noise processes). The predictive ability results were consistent with the time series findings. That is, application of a random-walk model to the HC series indicated that these series were fairly well-represented by the random walk, but a similar application to the GPL series confirmed that these series were not as well-represented by a random walk. Résumé. L'étude empirique qui fait l'objet du présent article a été effectuée en réponse à l'invitation du FASB à poursuivre les recherches sur les attributs des méthodes de mesure comptable de rechange. Il n'existe aucune démonstration empirique des attributs des séries chronologiques et de la valeur prédictive des données relatives aux bénéfices annuels indexés sur le niveau général des prix (N.G.P.). En vue d'évaluer l'incidence des gains ou des pertes monétaires sur les propriétés stochastiques des données indexées sur le N.G.P., les bénéfices on été calculés à la fois avec et sans la prise en compte des gains ou des pertes monétaires. Les résultats de l'analyse chronologique des séries de données relatives aux bénéfices à travers les différentes méthodes comptables ont donné lieu aux constatations suivantes: a) à peine moins de la moitié des séries de données au coût d'origine (C.O.) ont connu des variations de type aléatoire, la plupart des autres séries étant autorégressives, et b) beaucoup moins de séries de données indexées sur le N.G.P. ont affiché des variations aléatoires avec une augmentation correspondante du nombre de séries stationnaires (modélisées comme étant autorégressives). Les résultats relatifs à la valeur prédictive étaient compatibles avec les résultats de l'analyse chronologique. En d'autres termes, l'application d'un modèle aléatoire aux séries de données au C.O. a permis de constater que ces séries sont assez bien représentées par la méthode aléatoire, mais l'application du même modèle aux séries de données indexées sur le N.G.P. confirme que ces séries ne sont pas aussi bien représentées par la méthode aléatoire.     

非公有制经济在我国经济制度中地位的历史演进及反思

1949年建国以来,非公有制经济在我国基本经济制度中地位的演变过程,深刻影响着我国经济发展战略、发展道路和发展绩效,为现在以及未来的经济建设积累了宝贵的经验和教训。客观地反思非公有制经济在我国经济制度中历史地位的沉浮,具有重要的现实意义。     

New estimates of age‐ and sex‐specific earnings and the male–female earnings gap in the British cotton industry, 1833–19061

This article introduces a new set of estimates of average weekly age‐ and sex‐specific earnings paid at each year of age between 13 and 60 years of age to males and females employed in the British cotton industry between 1833 and 1906. As one example of the use of the estimates, the article shows how the estimates provide insights into changes in the male–female earnings gap in one key industrial group of workers in Victorian Britain. An appendix provides estimates of the population‐weighted average weekly full‐time money earnings of British cotton operatives, in pence per week, by sex, of the age groups: <13, 13–17, 18–60+, and 13–60+.     

The changing nature of artisanal work and occupations: Important for understanding labour markets

ABSTRACT

The social and political conditions within which artisans are required to work have shifted globally. The South African policy concern is to train bigger quantities and improve artisanal skills quality, while simultaneously providing more opportunities for young, black and women artisans. A concern for academia is how this shifting milieu will impact on our understanding of artisanal work and occupations and what implications should this have for further research. Using the concept of occupational boundaries, we investigate, at a micro level, real and perceived change to work in three artisanal trades. The study shows that while some elements have changed, the division of labour reinforces the traditional scope of artisanal work in relation to other occupational groups. The findings reconfirm the complex relationship between changes to work and the demand for skills, and importantly highlight the sociology of work as a critical but undervalued dimension in labour market analysis.     

Racial employment and earnings differentials: The impact of the Reagan Administration

Numerous authors have considered the time paths of black/white employment and earnings differentials. Some have dealt with significant policy change impacts such as the 1964 Civil Rights Act. This study reports evidence concerning the impact of Reagan administration policy changes. The major drawback to the study is, of course, that the administration’s total impact will no doubt not be felt for years. Regardless, using U. S. Census data through 1984, it was found that the administration had either a mixed effect (relative employment) or no effect (relative income), leaving the decaying position of blacks in the labor market little changed.     

Gender earnings differentials in LDCs: The case of Pakistan

Atlantic Economic Journal -     

The voluntary inclusion of earnings forecasts in IPO prospectuses*

Abstract. This study examines empirically the role played by direct disclosure in the valuation of initial public offerings (IPOs). We investigate why some firms making an initial public offering in Canada include an earnings forecast in the offering prospectus and others do not, and, in particular, the role of such direct disclosures in IPO valuation. We explore several hypotheses motivated by the voluntary disclosure and signaling literatures. Our results are consistent with the hypotheses that (1) forecasters have “good news” to reveal about future earnings prospects relative to nonforecasters, (2) the earnings forecast signals are valuation relevant, and (3) the market is able to correct for expected forecast error or bias in the earnings forecast. Résumé. Les auteurs font une analyse empirique du rôle que joue la présentation directe d'information dans l'évaluation des premiers appels publics à lépargne. Ils se penchent sur les raisons pour lesquelles certaines sociétés qui font appel public à l'épargne au Canada intègrent à leur prospectus d'émission des prévisions de bénéfices, alors que d'autres ne le font pas, et ils s'intéressent en particulier au rôle de la présentation directe de ce genre d'information dans l'évaluation d'un premier appel public à l'épargne. Ils examinent plusieurs hypothèses inspirées d'ouvrages traitant de présentation volontaire d'information et d'indicateurs. Les résultats obtenus sont conformes aux hypothèses selon lesquelles 1) ceux qui font état de prévisions ont de l'information positive à communiquer au sujet des perspectives de bénéfices, contrairement à ceux qui ne font état d'aucune prévision, 2) les indicateurs que représentent les prévisions de bénéfices sont pertinents à l'évaluation et 3) le marché a la capacité de corriger l'information qu'il reçoit pour tenir compte des erreurs ou des distorsions anticipées dans les prévisions de bénéfices.