共查询到20条相似文献,搜索用时 703 毫秒
1.
Beverley Jackling Riccardo Natoli Siti Nuryanah Dimuthu Ekanayake 《Accounting Education: An International Journal》2013,22(1):18-43
This paper describes the background to the establishment of Accounting Education: an international journal, as well as an outline of its distinctive characteristics, including the international focus of the journal both in relation to the composition of its Editorial Boards and its authorship since its launch in 1992. A thematic analysis of papers for the second decade of the journal is incorporated, together with insights as to the future directions in accounting education. As the 20-year milestone of the journal was reached Professor Richard M. S. Wilson completed his term of office as founding Editor, and a new Editor took over. The paper recognises Professor Wilson's efforts in establishing an international journal devoted to publishing accounting education research relevant to practitioners, academics, trainers, students, researchers and professional bodies. 相似文献
2.
《Journal of Accounting Education》1994,12(4):269-281
In response to input from the profession, accounting programs are attempting to increase the innovative problem-solving skills of their students. However, they have done so without data on what the problem-solving styles of their students are, and without an understanding of the capacity for innovation by different problem-solving styles. This study compares the problem-solving styles of accounting students with other business majors and business minors. Results indicate that accounting students are predominantly adaptive in problem-solving style. Statistical analysis shows a significant difference in the problem-solving style of accounting students and other business majors, with other business majors more likely to be innovative. Implications of these findings for changes in the accounting curriculum and for the profession are discussed. 相似文献
3.
Richard A. Young 《Review of Accounting Studies》2010,15(3):537-544
This paper is a discussion of Hannan et al. (Rev Account Stud, 2010), wherein subordinate-participants are endowed with private information, and superior-participants can potentially affect
budget requests through their ability to reject them. Their findings are of interest to research on both the design of budgeting
systems and span of control. I discuss the relevance of HRT to these literatures and comment on their implementation and experimental
design. Also, I offer suggestions for future research, one of which is to explicitly introduce monitoring into experiments
on span of control. 相似文献
4.
Stephen J. Brown 《Accounting & Finance》2011,51(1):79-95
Many commentators have suggested that economists in general and financial economists in particular have some responsibility for the recent global financial crisis. They were blinded by an irrational faith in a discredited Efficient Markets Hypothesis and failed to see the bubble in asset prices and to give due warning of its collapse. There is considerable confusion as to what this hypothesis is and what it says. The irony is that the strong implication of this hypothesis is that nobody, no practitioner, no academic and no regulator had the ability to foresee the collapse of this most recent bubble. While few economists believe it is literally true, this hypothesis is considered a useful benchmark with some important practical implications. Indeed, a case can be made that it was the failure to believe in the essential truth of this idea, which was a leading factor responsible for the global financial crisis . 相似文献
5.
Riccardo Cinquegrani 《Futures》2002,34(8):779-783
This article analyses the concept of epistemic community focusing the attention on two aspects, which contribute to define this ‘actor’: knowledge and capacity of acting under the conditions of uncertainty. The link between these two issues and the ‘nature of future studies’ is considered and the possibility of considering some organisations and institutions as future epistemic communities is explored. The case of the World Futures Studies Federation is examined in detail.In 1992, Peter Haas defined an ‘epistemic community’ as follows: “an epistemic community is a network of professionals from a variety of disciplines and backgrounds, they have a shared set of normative and principled beliefs, which provide a value-based rationale for the social action of community members; shared causal beliefs, which are derived from their analysis of practices leading or contributing to a central set of problems in their domain and which then serve as the basis for elucidating the multiple linkages between possible policy actions and desired outcomes; shared notions of validity—that is, inter-subjective, internally defined criteria for weighing and validating knowledge in the domain of their expertise; and a common policy enterprise—that is a set of common practices associated with a set of problems to which their professional competence is directed, presumably out of the conviction that human welfare will be enhanced as a consequence” [1].In ancient Greek, the term ‘episteme’ has a meaning which belongs to the philosophical sphere; ‘community’ is a concept which comes from the religious tradition and, more recently, has been the objective of sociological studies. Epistemic community links the two terms to indicate a ‘new’ and in some aspects, atypical political actor. At etymological level we already have a first sort of indication with respect to what is meant: politics as a synthesis of religion (faith), sociology (the decisions taken by policy makers have consequences on the whole society) and philosophy (intended as Weltanschaung). The German term Weltanschaung means the idea, concept or the ‘vision’ of the world and life. It is the way in which an individual or a social group considers the position of the human being in the world and the attitudes and actions they develop on the basis of a particular vision of the cosmos.In addition to this formal definition, Haas identifies other characteristics: “members of an epistemic community share inter-subjective understandings; have a shared way of knowing; have shared patterns of reasoning; have a policy project drawing on shared causal beliefs, and the use of shared discursive practices and have a shared commitment to the application and production of knowledge” [1].This definition could be analysed in several ways with particular attention to one or more of the indicated criteria. We could assume that the expression ‘possible policy actions and desired outcomes’ is to be understood as the ‘long term implications, expected, possible, probable and desired’ of a decision taken or that which will be taken, and this would already represent a linkage between the policy, the futures studies and an epistemic community; moreover, usually ‘the policy choices concern consequences, which can only be partially anticipated’ [2]. This gives rise ‘to the desire for information, which is not so much based on purely technical knowledge but rather information, which is the product of human interpretation’ [1]. Epistemic communities, national or trans-national, are one possible provider of such information.At this stage, and considering only this aspect of the whole definition, we could argue that a network of experts active in the field of future studies would represent the perfect portrait of what we are looking for: a multi-person actor able to ‘anticipate’, using knowledge, various backgrounds and expertise. To anticipate, in this context, might be specified as to understand or comprehend global and local changes. In general, futurists work within the framework of complexity and uncertainty, try to re-define problems in broader context and attempt to comprehend ‘change’ using knowledge.An example could be helpful: the change we are experiencing in Eastern European countries appears as multi-dimensional: in less than 15 years those countries have moved from a
- •
- socialist economy (closed and planned), to a
- •
- ‘Western economy’ (the so-called market economy), to a
- •
- technological one as a consequence of globalisation and, lastly,
- •
- to the learning economy.
6.
We use two data sets, one from a large brokerage and another from a major bank, to ask: (i) whether financial advisors are more likely to be matched with poorer, uninformed investors or with richer and experienced investors; (ii) how advised accounts actually perform relative to self-managed accounts; (iii) whether the contribution of independent and bank advisors is similar. We find that advised accounts offer on average lower net returns and inferior risk-return tradeoffs (Sharpe ratios). Trading costs contribute to outcomes, as advised accounts feature higher turnover, consistent with commissions being the main source of advisor income. Results are robust to controlling for investor and local area characteristics. The results apply with stronger force to bank advisors than to independent financial advisors, consistent with greater limitations on bank advisory services. 相似文献
7.
The discovery of a series of corporate scandals in Taiwan between 16 June and 15 September 2004 offers a unique opportunity to investigate the perceptions of investors on the value of corporate governance, whilst avoiding any interactions with other exogenous factors such as the lower expected returns on all firms’ investment opportunities during the East Asian or Global financial crises. The main line of reasoning in this study is that at times when news of scandals flows into the market, the perceptions of certain type of investors will lead to a change in their trading habits for non-scandal portfolios. With a comprehensive analysis of order and trade data for all investors identified by investor code, it is found that a substantial proportion of investors ceased trading altogether during the scandal period. This response was particularly discernible among small and medium individuals, despite the fact that the firms in these portfolios were not associated with the scandals. We further examine the ordering behavior of those investors who still traded in the market. It shows that small individual investors began to enter the market more passively, regardless of whether the firms’ ownership structure. And they consistently underperformed in both ownership-structure portfolios. However, foreign institutions and large individuals place more aggressive orders for stocks in firms with strong cash-flow rights leverage and perform particularly well in those portfolios. 相似文献
8.
Sanaz Aghazadeh Lili Sun Qian Wang Rong Yang 《Review of Quantitative Finance and Accounting》2018,51(4):1129-1150
Prior literature documents that CEO overconfidence plays an important role in corporate financial reporting and accounting decisions. However, an unexplored issue is how investors perceive the risks associated with CEO overconfidence. This study examines the effect of CEO overconfidence on the cost of equity capital. We find that the association between CEO overconfidence and the cost of equity is nonlinear: a moderate level of CEO overconfidence results in the lowest cost of equity capital after controlling for other known determinants of the cost of equity. We also find an inverted nonlinear relation between CEO overconfidence and equity issuance, which corroborates our main conclusion of the nonlinear effect of CEO overconfidence on the cost of equity. Our results are robust to alternative overconfidence measures, cost of equity measures, and change analysis. 相似文献
9.
Per Olsson 《Review of Accounting Studies》2010,15(3):658-662
Reppenhagen (Rev Account Stud, 2010) investigates how and through which channels contagion, i.e., accounting methods used by related firms, can influence a firm’s
accounting choice. My discussion focuses on research design choices and the potential effect of factors other than those investigated
in the study. 相似文献
10.
Abdelhakim Necir Brahim Brahimi Djamel Meraghni 《Scandinavian actuarial journal》2013,2013(3):246-247
The asymptotic variance of the risk premium estimator, proposed by Necir et al. (2007), is revised, by using the right asymptotic approximation of the uniform empirical quantile process. 相似文献
11.
Ambrose Brent W. Ehrlich Steven R. Hughes William T. Wachter Susan M. 《The Journal of Real Estate Finance and Economics》2000,20(2):211-224
The real estate industry has recently witnessed significant and pervasive consolidation with further growth and consolidation generally viewed as inevitable. For example, between 1990 and 1997, growth in average net real estate investments by large REITs outpaced growth in average net real estate investments by small REITs by 13 percent. However, no systematic study of the benefits of this consolidation exists. This research studies whether or not there are gains to consolidation due to economies of scale from size, brand imaging, and informational gains from geographic specialization. Our sample consists of 41 multifamily equity REITs, for whom financial and property level data are available in the SNL REIT Database. Using this data, we construct shadow portfolios that mimic each REITs exposure to changes in local market conditions. Our results show no size economies, that branding in real estate is allusive, and that geographic specialization, in agreement with Gyourko and Nelling (1996), has no significant benefit. 相似文献
12.
《Journal of Accounting Education》1994,12(2):115-120
The Accounting Education Change Commission (AECC) has called for change in the accounting curriculum “so that entrants to the accounting profession possess the skills, knowledge, and attitudes required for success in accounting career paths (AAA, 1986). Concluding that “change just for the sake of change may not bring any improvement,” the Federation of Schools of Accountancy (FSA) charged its Committee on Assessment of Curriculum Changes in January, 1991 “ to identify the theories and suggest methods to allow Departments and Schools of Accounting to measure the results of curriculum changes (FSA, 1991).” 1 This paper summarizes the committee's findings and its recommendations regarding issues that should be addressed by accounting programs undertaking the development of an assessment program.2 相似文献
13.
This paper investigates the motive of option trading. We show that option trading is mostly driven by differences of opinion, a finding different from the current literature that attempts to attribute option trading to information asymmetry. Our conclusion is based on three pieces of empirical evidence. First, option trading around earnings announcements is speculative in nature and mostly dominated by small, retail investors. Second, around earnings announcements, the pre-announcement abnormal turnovers of options seem to predict the post-announcement abnormal stock returns. However, once we control for the pre-announcement stock returns, the predictability completely disappears, implying that option traders simply take cues from the stock market and turn around to speculate in the options market. Third, cross-section and time-series regressions reveal that option trading is also significantly explained by differences of opinion. While informed trading is present in stocks, it is not detected in options. 相似文献
14.
15.
Giuseppe Grossi Andreas Bergmann Daniel Bietenhader Torbjörn Tagesson Johan Christiaens 《公共资金与管理》2013,33(4):209-218
This article reconstructs the literature on corporate turnaround in terms of its recurring features. It then tests these against the experience of four very different cases of the turnaround or attempted turnaround of public and non-profit organizations. It concludes that while some concepts from the corporate literature usefully highlight important aspects, other critical complicating features of what is needed to achieve a turnaround in public and non-profit contexts would be overlooked or poorly treated if the situation were considered simply in these terms. These complicating features deserve the attention both of practitioners and researchers. 相似文献
16.
Turnbull D 《Futures》2000,32(9-10):853-865
This paper examines some proposals concerning the involvement of genetic counsellors in reproductive decisionmaking. This involvement represents the future situation as being shaped decisively by the “relevant” knowledge of powerful medical and other political interests. The paper deconstructs and reorders this proposed knowledge in order to make it problematic. The projected involvement of genetic counselling backed by claims of ethical expertise is rendered denaturalised and particular, opening a conceptual space for the emergence of other futures. An alternative future in which public communication, not private medical decisions, is given as the primary ethical focus. 相似文献
17.
《Journal of Banking & Finance》1988,12(3):439-455
This paper investigates the nature and the incidence of heteroskedasticity and misspecification in the market models by utilizing tests that are generally applicable. The results show that heteroskedasticity appears more frequently than misspecification even though both are serious problems. The evidence also indicates that the use of a quadratic market model or equally weighted market returns may lead to a smaller percentage of heteroskedastic cases but that, in general, this advantage has to be offset against an increase in the occurrence of specification errors. Small firms and January returns are also observed to produce a higher incidence of both heteroskedasticity and misspecification. 相似文献
18.
China's land market auctions: evidence of corruption? 总被引:1,自引:0,他引:1
In China, urban land is allocated by leasehold sales by local officials. Attempting to end widespread corruption, the government now requires sales to be conducted publicly, by either English or “two‐stage” auctions. However, corruption persists through the choice of auction format and preauction side deals between favored bidders and local officials. Two‐stage auctions have a first stage where favored developers signal that auctions are “taken,” deterring entry of other bidders. Empirics show that both sales prices and competition are significantly less for two‐stage than English auctions. Selection on unobserved property characteristics is positive: officials divert hotter properties to two‐stage auctions. 相似文献
19.
Jeffrey J. Burks 《Review of Accounting Studies》2011,16(3):620-629
Billings and Jennings (2011) develop a new measure of stock price sensitivity to earnings called anticipated information content (AIC). The main difference
between an AIC and an earnings response coefficient (ERC) is that AICs measure expected rather than actual sensitivity. I
evaluate the AIC’s potential usefulness in future research, and conclude that AICs have several disadvantages relative to
ERCs but might be useful in rare circumstances. Estimates of AICs contain considerable measurement error and fail a primary
test of construct validity when left uncorrected. I outline a method for correcting two of the three sources of measurement
error, which can be used by researchers interested in pursuing work on AICs. The method may have uses beyond computing AICs
because it yields a prediction of the unsigned change in stock price during a scheduled event window. 相似文献