BOOK REVIEWS

Book reviewed in this article: G. Whittred & I. Zimmer, Financial Accounting: Incentive Effects and Economic Consequences Charles T. Horngren & Gary L. Sundem, Introduction to Management Accounting Robert Capettini & Donald K. Clancy (eds), Cost Accounting, Robotics and The New Manufacturing Environment A.A. Arens, J.K. Loebbecke, P.J. Best & G.E.P. Shailer, Auditing in Australia: An Integrated Approach Joel M. Stern & Donald H. Chew Jr. (eds), The Revolution in Corporate Finance B. de Caires (ed), The GT Guide to World Equity Markets Centre for Independent Studies Policy Forums 5, Takeovers and Corporate Control: Towards a New Regulatory Environment P.M. Horvitz & R.A. Ward, Monetary Policy and the Financial System R.T.M. Whipple (ed), Commercial Rent Reviews: Law and Valuation Practice Peter Ziegler University of Queensland     

BOOK REVIEWS

Book reviewed in this article: Lee D. Parker, Value-for-Money Auditing: Conceptual Development and Operational Issues E.P. Minnis & C.W. Nobes (eds.), Accountants' Liability in the 1980s — An International View James L. Chan (Ed.), Research in Governmental and Non-Profit Accounting David B. Zenoff (Ed.), Corporate Finance in Multinational Companies A.N. Cox & J.A. MacKenzie, International Factoring J. Hoggett & L. Edwards, Financial Accounting in Australia J. Hoggett & L. Edwards, Accounting in Australia John J. Hampton, Corporate Finance Using Electronic Spreadsheets Bob Mould & Fran Teo, The Cambridge Guide to Visicalc R.B. Vermeesch & K.E. Lindgren, Business Law of Australia I.G. Wallschutzky, Australian Income Tax Law     

BOOK REVIEWS

Book reviewed in this article: The Future of Social Security. By Alicia H. Munnell . An Econometric Model of the Life Insurance Sector of the U.S. Economy. By J. David Cummins . Inflation Accounting, a Guide for the Accountant and Financial Analyst. By Sidney Davidson , Clyde P. Stickney , and Roman L. Weil . A History of Interest Rates, Second edition. By Sidney Homer . When To Sell. By Justin Mamis and Robert Mamis . How To Make Money In Listed Options. By Lin Tso . Handbook of Wealth Management. By Leo Barnes and Stephen Feldman . You can Still Make It in the Market. by Nicolas Darvas . The Complete Bond Book: A Guide to All Types of Fixed-Income Securities. By David M. Darst . The Formation and Stocks of Total Capital. By John W. Kendrick . Inflation. By John Flemming .     

BOOK REVIEWS

Book reviewed in this article: Household Capital Formation and Financing, 1897–1962. By F. Thomas Juster . Money and Conquest: Allied Occupation Currencies in World War II. By Vladimir Petrov . Prosperity and Unemployment. Edited by Robert A. Gordon and Margaret S. Gordon . Toward Full Employment in Our Free Enterprise Society. By Morris A. Copeland . Regional Accounts for Policy Decisions. Edited by Werner Z. Hirsch . The Tenement Landlord. By George Sternlieb . Foundations for Financial Management: A Book of Readings. Edited by James Van Horne . A Theory of Financial Analysis. By Eugene M. Lerner and Willard T. Carleton . The Scope and Methodology of Finance. By J. Feed Weston . Working Capital Management. By William Beranek . Valuation: Concepts and Practice. By Erich Helfert . The Term Structure of Interest Rates: Expectations and Behavior Patterns. By Burton Gordon Malkiel . Liquidity Preferences of Commercial Banks. By George R. Morrison . Monetary Theory and Policy. Edited by Richard S. Thorn . Analytical Methods in Banking. Edited by Kalman J. Cohen and Frederick S. Hammer . The Commercial Paper Market. By Nevins D. Baxter . Insider Trading and the Stock Market. By Henry G. Manne . Money, Banking, and Credit in Eastern Europe. By George Garvy . Forward Exchange, Speculation, and the International Flow of Capital. By Herbert G. Grubel . International Finance for Multinational Business. By Lee C. Nehrt . Intergovernmental Fiscal Relations in the United States. By George F. Break . Effects of Corporation Income Tax. Edited by Marian Krzyzaniak . A General Theory of Tax Structure Change During Economic Development. By Harley H. Hinrichs .     

Developments in accounting regulation: A synthesis and annotated bibliography of evidence and commentary in the 2009 academic literature

In this article, we synthesize in annotated bibliography form, recent regulation-related findings and commentaries in the academic literature. This annotated bibliography is one in a series of bibliographies that summarizes regulation-related academic research. We reviewed academic outlets such as The Accounting Review, The Journal of Accounting Research, The Journal of Accounting and Economics, Accounting Horizons, The Journal of Accounting, Auditing & Finance, The Journal of Accounting and Public Policy, The Journal of Business, Finance & Accounting, Auditing: A Journal of Practice and Theory, and Research in Accounting Regulation. We annotate results of regulation-related research studies and key points from regulation-related commentaries.     

Book Reviews

Book reviewed in this article: BUSINESS FINANCE AND INVESTMENTS: Financial Management: Cases. By LAWRENCE GITMAN and EDWARD A. MOSES. BUSINESS FINANCE AND INVESTMENTS: Principles of Financial Management. By Seymour Friedland. BUSINESS FINANCE AND INVESTMENTS: Options: Theory and Practice. By Claude A. Henin and Peter J. Ryan. BUSINESS FINANCE AND INVESTMENTS: Investments: An Introduction to Analysis and Management. By FREDERICK AMLING. BUSINESS FINANCE AND INVESTMENTS: Personal Finance. By Lawrence J. Gitman. BUSINESS FINANCE AND INVESTMENTS: Winning with Money: A Guide to Your Future By Beryl W. Sprinkel and Robert J. Genetski. PUBLIC FINANCE: Foreign Exchange Today. Raymond G. F. Coninx. FINANCIAL MARKETS: Review of Substituting a Value-Added Tax for the Corporate Income Tax: First Round Analysis (NBER Fiscal Studies 15) by Stephen P. Dresch, An-Loh Lin, and David K. Stout. FINANCIAL MARKETS: Duke Law Journal, Municipal Finance: The Duke Law Journal Symposium INTERNATIONAL FINANCE: Dorrance, Graeme S. National Monetary and Financial Analysis MISCELLANEOUS: Creating New Financial Instruments for the Aged by Jack M. Guttentag.     

BOOK REVIEWS

Book reviewed in this article: Ray Ball, Philip Brown, Frank J. Finn and R. R. Officer (editors), Share Markets and Portfolio Theory Walter L. Burke, E. Bryan Smyth and John S. Macmullen, Accounting for Management Australian Accounting Research Foundation, Discussion Paper No. 2, The Funds Statement, by R. C. Clift S. H. Archer, G. M. Choate and G. Racette, Financial Management: An Introduction Donald A. Leslie, Albert D. Teitelbaum and Rodney J. Anderson, Dollar-Unit Sampling - A Practical Guide for Auditors Australian Society of Accountants, Bulletin No. 22, Further Contributions to Current Cost Accounting B. H. McPherson, The Law of Company Liquidation Australian Accounting Research Foundation, Accounting Research Study No. 8., Accounting for Long Service Leave Current Cost Accounting: Reports on Legal Implications and Debenture Stock Trust Deeds Brian Booth, Consolidated Financial Statements and Group Accounts Case Studies     

BOOK REVIEWS

Book reviewed in this article: Inflation, Trade and Taxes, Essays in Honor of Alice Bourneuf. Edited by D. A. Belsley , E. J. Kane , P. A. Samuelson and R. M. Solow Towards a Reconstruction of Macroeconomics. By William Fellner Money, The Price Level, and Interest Rates: An Introduction to Monetary Theory. By Gail E. Makinen Elements of Financial Analysis. By Sylvan D. Schwartzman and Richard E. Ball Financial Crises: Institutions and Markets In a Fragile Environment. Edited by Edward I. Altman and Arnold W. Sametz Principles of Modern Investments. By Charles A. D'Ambrosio A Modest Proposal for a Natural Securities Market System and its Governance. By Ernest Bloch and Arnold W. Sametz . The Bulletin, Graduate School of Business Administration International Monetary Reform and the Developing Countries. By William R. Cline Inflation Accounting, A Guide for the Accountant and Financial Analyst. By Sidney Davidson , Clyde P. Stickney , and Roman L. Weil Financial Disclosure in the U.K. and the U.S.A. By George A. Benston     

BOOK REVIEWS

Book reviewed in this article: Determinants of Investment Behavior: A Conference of the Universities—National Bureau Committee for Economic Research. Edited by Robert Ferber . Issues in Defense Economics. Edited by Roland N. Mc Kean . Profits in the Modern Economy. Edited by Harold W. Stevenson and J. Russell Nelson . The Complete Guide to Investment Analysis. By Ralph E. Badger and Paul B. Coffman . Accounting For Management: Planning and Control. By Richard M. Lynch . Monetary Process and Policy: A Symposium. Edited by George Horwich . The Effect of Federal Reserve System Membership on the Profitability of Illinois Banks, 1961–1963. By Lucille Stringer Mayne . The Quality of Consumer Instalment Credit. By Geoffrey H. Moore and Phillip A. Klein . Management of Financial Institutions. By Alexander A. Robichek and Alan B. Coleman . Banking Institutions in Israel. By Meir Heth . The Dollar and World Liquidity. By Robert V. Roosa . Balance of Payments. By Jacques Rueff . Fiscal Policy Models of the British Economy. By Elias T. Balopoulos . Modern Public Finance. By Bernard P. Herber . The Taxation of Personal Wealth. By Alan A. Tait .     

Book Reviews

Book reviewed in this article: Financial Statement Analysis. By GEORGE FOSTER. Englewood Cliffs Problem and Failed Institutions in the Commerical Banking Industry. By JOSEPH F. SINKEY, JR. The Dow Jones-Irwin Guide to Modern Portfolio Theory. By ROBERT HAGIN. Forecasting: An Appraisal for Policy-Makers and Planners. By W. ASCHER. The Basic Theory of Corporate Finance. By KENNETH J. BOUDREAUX AND HUGH W. LONG. Englewood Cliffs The Investment Decisions of Firms. By STEPHEN J. NICKELL. Financing Black Economic Development. By TIMOTHY BATES AND WILLIAM BRADFORD Financial Management: An Introduction. By STEPHEN H. ARCHER, G. MARC CHOATE, AND GEORGE RACETTE.     

A test of the Investor's Daily stock ranking system

This paper examines the profitability of trading strategies derived from stock rankings published in Investor's Business Daily. The best system provides market-adjusted abnormal monthly returns of 1.81% from buying S&P 500 stocks, and a 3.18% abnormal return on an arbitrage portfolio. Stocks selected for trading have above average volatility, but a portion of abnormal return may be a reward for identifying stocks with short-run sustainable price momentum. Results seem indicative of market inefficiency, but the phenomena may be temporary since abnormal returns are lower during the second half of the data set.     

Facts & figures

Financial Management in the NHS: a Manager's Handbook By H. Mellett, N. Marriott, S. Harris (Chapman and Hall, London, 1993), pp. xvii + 265. £29.50. ISBN 0 412 47320 8.

Competing for Quality—a Manager's Guide to Market Testing By Lynton Barker (Longman, Harlow, 1993). £38.50. ISBN 0 582 23688 6.

The Role of Chief Executives in Local Government By Janice Morphet (Longman, Harlow, 1993), pp. vi + 245. £29.95.     

BOOK REVIEWS

Book reviewed in this article: AggregatJJ Theory and Policy Income and Wealth. By Edward Ames . Controlling Monetary Aggregates: Proceedings of the Monetary Conference Held on Nantucket Island, June 8–10, 1969. Sponsored by the Federal Reserve Bank of Boston Essays on Interest Rates, Volume I. Edited by Jack M. Guttentag and Phillip Cagan Business Finance and InvestmentsAn Introduction to Risk and Return from Common Stocks. BY Richard A. Brealey . Capital Allocation Theory: The Study of Investment Decisions. By Gerald A. Fleischer . Quantitative Analysis of Financial Decisions. By James C. T. Mao . Microeconomics and Decision Models of the Firm. By Thomas H. Naylor and John M. Vernon . Financial Institutions and MarketsModern Techniques in Bank Management. Edited by Douglas V. Austin and Gene S. Booker . The Price of Money, 1946 to 1969: An Analytical Study of United States and Foreign Interest Rates. By Sidney Homer and Richard I. Johannesen . Innovations in Bank Management: Selected Readings. Edited by Paul F. Jessup . The Federal Home Loan Bank Board. By Thomas B. Marvell . Municipal Bond Finance and Administration: A Practical Guide to the Analysis of Tax Exempt Securities. By Alan Rabinowitz . Readings in Financial Markets and Institutions. Edited by J. Van Fenstermaker . International FinanceResource Flows to Less Developed Countries. By Clive S. Gray . A Structural Model of the U.S. Balance of Payments. By Martin F. J. Prachowny . Amsterdam and London: North-Holland, 1969. Pp. 176. $9.50. Readings in International Financial Management. Edited by Arthur I. Stonehill . International Financial Management. By David B. Zenoff and Jack Zwick Public FinanceTaxes and Politics: A Study of Illinois Public Finance. By Glenn W. Fisher . The Taxation of Income from Capital. Edited by Arnold C. Harberger and Martin J. Bailey . Commonwealth-State Financial Relations in Australia. By James A. Maxwell . Tax Impacts on Compensation. Sponsored by Tax Institute of America     

Food for Thought? A Rejoinder on Peer-review and RAE2008 Evidence

This Rejoinder responds to criticisms made by Simon Hussain (2011) Hussain, S. 2011. Food for thought on the ABS Academic Journal Quality Guide. Accounting Education: an international journal, 20(6), : 545–559. [Taylor & Francis Online] , [Google Scholar] about the construction and operation of the Association of Business Schools' (ABS) Academic Journal Quality Guide. In this paper the broad purposes of journal lists and guides are outlined before an account is given of the long history and multiple forms of these lists, particularly in the field of Accounting. Having described the main features of different types of journal list, the advantages and benefits of the approach adopted in the compilation of the ABS Journal Quality Guide is outlined. The paper then ends by noting that one of the copy-editing mistakes identified by Dr Hussain has been rectified, but the remaining concerns about the rating of accounting education and accounting history journals reflect the absence of these titles from journal citation reports and international journal lists. Furthermore, the lower rating of Accounting & Finance research in the RAE2008 in comparison with Business & Management Studies research in the same year and Accounting & Finance research in 2001, has more to do with the way in which the Accounting & Finance Panel calibrated and normalized its judgements than with the ratings contained within the ABS Guide.     

BOOK REVIEWS

Book reviewed in this article: Aggregate Theory and Policy: MacroEconomic Theory: A Mathematical Treatment. By R. G. D. Allen . Aggregate Theory and Policy: acroeconomic Theory and Stabilization Policy. By John M. Culbertson . Aggregate Theory and Policy: Economic Planning and Policies in Britain, France and Germany. By Malcolm Mac Lennan , Murray Forsyth and Geoffrey Denton . Aggregate Theory and Policy: The Job Content of the U.S. Economy, 1940–1970. By James G. Scoville . Aggregate Theory and Policy: Readings in the Modern Theory of Economic Growth. Edited by Joseph E. Stiglitz and Hirofumi Uzawa . Aggregate Theory and Policy: 4 Monetary Policy for Latin America. By Pierre Uri , together with Nicholas Kaldor , Richard Ruggles , and Robert Triffin . Aggregate Theory and Policy: lue, Capital, and Growth: Papers in Honour of Sir John Hicks. Edited by J. N. Wolfe . Business Finance and Investments: Risk and Uncertainty: Proceedings of a Conference Held by the International Economic Association. Edited by Karl Borch and Jan Mossin . Business Finance and Investments: Personal Trust Investment Management. C. F. A. Research Foundation (Monograph Series Number 2). Business Finance and Investments: Managerial Finance. By Salomon J. Flink and Donald Grunewald . Business Finance and Investments: Theory of Valuation. By Charles L. Hubbard and Clark A. Hawkins . Business Finance and Investments: Business Combinations: Planning and Action. By Arthur . Wyatt and Donald E. Kiesos . Business Finance and Investments: Capital Budgeting: The Economic Evaluation of Investment Projects. By William H. Jean . Business Finance and Investments: The Cost of Capital. By Wilbur G. Lewellen . Business Finance and Investments: Measuring the Investment Performance of Pension Funds for the Purpose of Inter-Fund Comparison. By James Lorie Business Finance and Investments: Decision Analysis: Introductory Lectures on Choices Under Uncertainty. By Howard Raiffa . Business Finance and Investments: Guide to Convertible Securities. By William Schwartz and Julius Spellman . Business Finance and Investments: Corporation Finance, Policy, Planning, Administration. By Paul M. Van Arsdell . Financial Institutions and Markets: Competition and Controls in Banking. By David A. Alhadeff . Financial Institutions and Markets: Investment Banking and the New Issues Market. By Irwin Friend , James R. Longstreet , Morris Mendelson , Ervin Miller , and Arleigh P. Hess , Jr . Financial Institutions and Markets: The New York Money Market and the Finance of Trade, 1900–1913. By C. A. E. Goodhart . Financial Institutions and Markets: A Study of Wholesale Banking Behavior. By Neil B. Murphy . Financial Institutions and Markets: The Organization of Industry. By George J. Stigler . Financial Institutions and Markets: Mutual Savings Banks: The Evolution of a Financial Intermediary. By Weldon Welfling . International Finance: Financial Capital Flows in the U.S. Balance of Payments. By William H. Branson . International Finance: Readings in the Euro-Dollar. Edited by Eric Chalmers . International Finance: American Business Abroad: Six Lectures on Direct Investment. By Charles P. Kindleberger . International Finance: Toward an Orderly Market: An Intensive Study of Japan's Voluntary Quota in Cotton Textile Imports. By John Lynch . Public Finance: Nigerian Federal Finance. By Adebayo Adede ji . Public Finance: Governmental Problem-Solving: A Computer Simulation of Municipal Budgeting. By John P. Crecine . Public Finance: Budgeting Public Funds: The Decision Process in an Urban School District. By Donald Gerwin . Public Finance: State and Local Tax Problems. Edited by Harry L. Johnson . Public Finance: Public Expenditures in Communist and Capitalist Nations. By Frederic L. Pryor . Public Finance: The Metropolitan Enigma: Inquiries into the Nature and Dimensions of America's “Urban Crisis.” Edited by James Q. Wilson .     

Book reviews

Public Sector Management Norman Flynn. Harvester Wheatsheaf, Hemel Hempstead, UK (1990). 201 pp. £9.95. ISBN 0–7450–0594–2.

CIPFA Guide to the Community Charge R. Hale and C. Stewart (Eds). Longman, Harlow, UK (1990). Price £225. ISBN 0–582–063–54X.

Ethics in the British Civil Service Richard A. Chapman. Routledge, London ( 1988). pp. xix + 338. £30.     

The UNCITRAL Model Law on Cross‐border Insolvency and the Rule of Law

The rule of law is a concept that was often considered in the context of national legal systems. However, it is now commonly being promoted as significant in the transnational context. This paper addresses its importance within the transnational economic and commercial context, in particular in response to cross‐border insolvencies. It examines how the UNCITRAL Model Law on Cross‐border Insolvency and its Guide to Enactment and Interpretation promote key tenets of the rule of law in transnational disputes arising out of businesses in financial distress. In particular, some examples are provided of cases from the Asia‐Pacific region in which the Model Law has been applied to demonstrate how the rule of law may be promoted in an insolvency context. Finally, the paper concludes that the adoption of the UNCITRAL Model Law on Cross‐border Insolvency promotes transparency, accountability and predictability, which in turn support stability in financial systems and credit relationships and thus trade within a global market. This is a direct result of adherence to elements of the rule of law principle. Copyright © 2016 INSOL International and John Wiley & Sons, Ltd. Copyright © 2016 INSOL International and John Wiley & Sons, Ltd     

BOOK REVIEWS

Book reviewed in this article: Financial Institution Management: Text and Cases. By FREDERICK YEAGER & NEIL LEITZ. Efficiency in the Municipal Bond Market: The Use of Tax Exempt Financing for “Private” Purposes. The Prime: Myth and Reality. By GERALD C. FISCHER. Interest Rate Futures. By ROBERT W. KOLB. Richmond The Speculator: Bernard M. Baruch in Washington, 1917–1965. By JORDAN A. SCHWARZ.     

Book Review Section

Book reviewed in this article: K.J. Leo, C.J. Lambert & J. W. Sweetig Advanced Company Accounting James Guthrie, Lee Parker and David Shand, The Public Sector: Contemporary Readings in Accounting and Auditing Contemporary Issues in Accounting Research, Edited by Bhabatosh Baerjee (IAA Research Foundation 1991) Funds and Portfolio Management Institutions: An International Survey. Edited by Stefano Preda, Elsevier Barfield, J.T., Raiborn C.A. and Dalton M.A. Cost Accounting— Traditions and Innovations (1991) John Hoggett and Lew Edwards, Financial Accounting in Australia Second Edition. (John wiley & Sons, Brisbane 1990)     

BOOK REVIEW

Book reviewed in this article: Security on Movable Property and Peceivables in Europe : M. Dickson, W. Rosener & P. Storm, eds Retention of Title: A Practical Guide to 19 National Legislations : International Chamber of Commerce