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1.
Although nonprofit is often considered to be synonymous with tax-exempt, many nonprofit organizations earn revenues from unrelated taxable activities, and on average these taxable activities generate $1.5 million in revenues. Policymakers have expressed concern that the pursuit of unrelated taxable revenues can distract a nonprofit from its primary charitable mission. Our results show that nonprofits earn taxable revenues when the taxable activities produce a relatively higher return, the nonprofit itself is experiencing lower profitability, and donor aversion is lower. These results suggest that nonprofits will pursue specific types of unrelated taxable activities, and then only under certain circumstances, reducing concerns over mission drift caused by widespread nonprofit expansion into taxable markets. 相似文献
2.
Patricia L.D. Derrick 《Research in Accounting Regulation》2013,25(2):208-219
SFAS No. 116, Accounting for contributions made and contributions received, issued in 1993, requires that nongovernmental organizations, both proprietary and nonprofit, recognize unconditional promises to give as current period revenue. This study examines whether charities—organizations that rely heavily upon contributions—are affected by SFAS No. 116 adoption along two dimensions: whether an accounting effect exists, and whether a subsequent economic, or behavioral impact is felt by charities reporting positive adjustments to net assets when adopting SFAS No. 116.First, this study documents the effect of SFAS No. 116 adoption on receivables, and considers whether increases in pledges that result from adoption persist in post-adoption periods. The evidence suggests that the accounting effect of SFAS No. 116—that is, the recognition of unconditional pledges—persists in the post-adoption regime.Second, the economic effect of SFAS No. 116 is considered by examining, for charities affected by adoption, whether cash contributions decline in post-adoption periods, whether fundraising increases, and whether reliance on cash contributions decreases in post-adoption periods. Results indicate that cash contributions decrease, that fundraising increases, and that reliance on cash contributions decreases for these organizations. 相似文献
3.
Financial intermediation theory posits that a smaller loan size triggers a higher cost per dollar lent. This leads to question whether microfinance can become a self-sustainable industry. Hence, in microfinance innovations like loans without collateral, progressive loans, solidarity groups and relational lending are employed to reduce asymmetric information costs, adverse selection, and moral hazard while serving the poorest people. Crucially, we find a non-linear U-shaped effect of loan size on financial and social efficiencies. This reconciles the two opposite strands of the literature, aligning microfinance and banking central principles. The major implication of this study is that, unlike banking, microfinance institutions can grant small size loans while simultaneously obtaining high levels of financial and social efficiency. Indeed, our findings do not support the widely debated mission drift assumption since loan size does not generate a trade-off between financial and social outcomes. Therefore, loan size is a core management variable. 相似文献
4.
《The British Accounting Review》2018,50(2):227-237
Public trust and confidence in charities is essential for the achievement of their missions. However, recent evidence suggests that trust in UK charities has been damaged, potentially affecting charities' and the charity sector's sustainability and effectiveness. This paper constructs accountability as an important means of developing, maintaining and restoring trust in charities. Through a series of interviews with charity managers, it investigates the public and private mechanisms used in discharging accountability to, and building trust with, charities' main stakeholder groups. The paper identifies the use of a wide range of mechanisms, often highly tailored to particular stakeholders' perceived information needs, which are seen as critical in this process. It is argued that the use and interplay of these can create a ‘virtuous circle’ of accountability and trust, where each reinforces the other. It is argued that where this is achieved, trust in individual charities, and the sector as a whole, can be enhanced. 相似文献
5.
美日韩三国助学贷款比较及对我国的启示 总被引:8,自引:0,他引:8
Yan Yi Cheng Xiaona 《国际金融研究》2006,(12)
本文简单介绍了美国、日本、韩国三个国家的助学贷款的主要内容,并对这三个国家的助学贷款进行了比较;并在此基础上针对我国助学贷款体系里出现的主要问题提出了相应的对策与建议。 相似文献
6.
Danielle McConville 《公共资金与管理》2017,37(3):211-216
The effect of charitable activities on beneficiaries and society is at the heart of what charities exist to do, and stakeholders’ reasons for engaging with charities. Reporting publicly and transparently on this impact can form the basis of improved effectiveness, accountability, legitimacy and trust: potentially securing stakeholders’ ongoing support and engagement. However, significant challenges to transparent impact reporting are also acknowledged. This article explores these possible benefits, and challenges and highlights areas for development in practice and research. 相似文献
7.
Government and philanthropic funders are key charity stakeholders, yet we know little about their accountability information needs. This New Zealand study captures these stakeholders’ perceptions of the background, financial and non-financial performance information they need from charities. It also reveals how, in addition to imposing reporting requirements, these key funders engage in ‘institutional work’ to ensure they receive appropriate accountability information. 相似文献
8.
《The British Accounting Review》2018,50(2):143-148
This special issue is based on a selection of papers initially presented at the conference on ‘Public Services and Charities: Accounting, Accountability and Governance at a Time of Change’ (Centre for Not-for-profit and Public-sector Research, Queen's University Belfast, January 2017). ‘Public services and charities’ is a distinctive grouping that includes organisations that are not-for-profit and often have wide social and cultural goals that drive mission and actions. These organisations operate in a very fluid environment. Expectations of the public at large and of government are changing; economic pressures bear down on them particularly acutely; performance metrics and a push for marketisation reflect a spirit of the age; ‘business practices’ are frequently afforded a reputation of being ‘good’ and applicable in all settings; while news reporting and social media often amplify any perceived shortcomings. The papers included in this special issue present an opportunity to reflect on some of the key changes taking place with respect to accounting, accountability and governance in this setting. Such opportunities to reflect can support evaluation of the stated objectives of implemented and proposed changes, and also help to inform policy making within government and elsewhere. Key arguments made in these papers, and the overarching themes of this special issue, are explored in this editorial. 相似文献
9.
The effectiveness of the well-known corporate governance practices may not be universal due to fundamental differences in the environments under which firms operate. By using hand-collected data from all the non-financial firms listed on the unexplored East African frontier markets (i.e., Kenya, Tanzania and Uganda), we examine the effect of board characteristics on the performance of firms. Our results show that board size has a negative and significant effect on firm performance. The presences of foreigners and civil servants on the board play positive roles on financial performance, where the agency and resource dependence theories apply. Further, we find that board members with higher education also contribute to firm performance. These findings still hold when we consider the 2008–2009 financial crisis period. Overall, we show that in a business climate where ownership is largely dominated by few shareholders, the conventional governance mechanisms do not work effectively. 相似文献
10.
Charities rely on public trust to exist. However, that trust has diminished, with a perceived lack of accountability seen as a key reason. This study draws on case studies of two New Zealand charities to examine their performance accountability reporting practices and potential implications for public trust. The findings surface the day‐to‐day agency of charity actors in shifting performance accountability practices towards modes of disclosure that are relevant and accessible to the public. This paper contributes to the literature by extending understandings of how charities produce accountability information that can enhance public trust and, thus, support their mission achievement. 相似文献
11.
Using a database of 56 studies on corporate governance in the banking industry that were published between 2007 and 2019, this study performs a meta-analytic review to examine the impact of board governance on bank performance. We investigate how board size, CEO duality, outside directors, and female directors on board play a role in determining bank performance. Variations in the relationship between board governance and bank performance that attribute to moderating effects of potential moderators, including the system of corporate governance, bank performance measures, the definitions of governance variables, publication quality, and endogeneity concerns, are also encapsulated. Our study shows that bank performance is positively associated with larger boards and a high proportion of outside and female directors, supporting the resource dependence theory. We find that the moderating variables considerably alter the link between board governance and bank performance. The study offers ways to enhance board effectiveness by enforcing governance practices in the banking systems based on each countries’ legal and institutional framework and suggests reconsidering mandates for smaller boards and duality on boards of banking firms. 相似文献
12.
《The British Accounting Review》2014,46(2):135-153
The purpose of this study is to investigate the effects of board capital on the relationship between CEO duality, board dependence, managerial share ownership and performance. We argue that board capital (the ability of board members to perform manager-monitoring activities and to provide advice and counsel to management) varies across board members. Highly qualified board members will be better at monitoring management and constitute a more valuable resource for firms. Based on a sample of U.S. companies listed in the Compustat S&P 500 and using both resource dependence and agency theories, we predict and find that CEO duality and board dependence negatively affect performance and that board capital mitigates the negative effects. We also predict and find that managerial share ownership positively affects performance and that board capital strengthens this positive relationship. The results are consistent with the view that firms benefit from board capital in terms of outside directors' ability to monitor managers and provide advice and counsel to managers. 相似文献
13.
《The British Accounting Review》2018,50(2):214-226
Internationally, charities are grappling with the challenges of measuring their service outcomes for accountability purposes. This study employs recent developments in institutional theory to examine the role of identity accountability in shaping these outcome measurement practices. Semi-structured interviews with staff and managers in two New Zealand charities are drawn on to understand their perceptions and experiences of outcome measurement. The findings reveal that charity actors engage in institutional work aimed at discharging both identity accountability and upward accountability via their outcome measurement practices. However, they face challenges in achieving and balancing these two forms of accountability. Policy-practice and means-ends decoupling result, creating the potential for mission drift and other unintended consequences of outcome measurement practices. 相似文献
14.
Indra Abeysekera 《Accounting & Finance》2012,52(Z1):1-23
This study empirically investigates whether independent directors on the remuneration committee influence narrative human capital disclosure (NAHCD) in firms where independent directors dominate the board composition. NAHCD is measured by frequency of occurrence, using latent content analysis in the annual reports of the top 30 listed firms on the Colombo Stock Exchange from 1998 to 2006. This study examines two attributes of corporate governance, controlling for other corporate governance attributes and firm‐level attributes. The findings highlight the importance of considering a firm’s independent director involvement in the remuneration committee when determining NAHCD strategy. 相似文献
15.
This article proposes a generalized notion of extreme multivariate dependence between two random vectors which relies on the extremality of the cross-covariance matrix between these two vectors. Using a partial ordering on the cross-covariance matrices, we also generalize the notion of positive upper dependence. We then propose a means to quantify the strength of the dependence between two given multivariate series and to increase this strength while preserving the marginal distributions. This allows for the design of stress-tests of the dependence between two sets of financial variables that can be useful in portfolio management or derivatives pricing. 相似文献
16.
Liang Hong 《Scandinavian actuarial journal》2018,2018(5):404-411
Mossin’s theorem for deductible insurance given random initial wealth is re-examined. For a fair premium, it is shown that a necessary and sufficient condition, in the spirit of the Generalized Mossin Theorem for coinsurance, is impossible using the notion of expectation dependence. Next, it is established that for a fair premium, full insurance will be optimal for a risk-averse individual if the random loss and the random initial wealth are negative quadrant dependent, improving upon an extant result in the literature. In view of a set of examples given in this paper, such a sufficient condition cannot be obtained using the notion of expectation dependence. Finally, for an unfair premium, it is shown that partial insurance will always be optimal, irrespective of the risk preference of the individual as well as the dependence structure between the random loss and the random initial wealth. 相似文献
17.
The examination of public and private not‐for‐profit sector financial reporting has been a topic of interest on a cyclical basis in Australia over the last 30 years. Traditional topics have included examinations of the intended and unintended consequences of specific standards, the accountability value of financial reports, transaction neutrality, compliance with the accounting standards, and more recently, the prospective implications of new, differently focused reporting standards considering such issues as income measurement and outcomes reporting. With increased recent attention from standard setters and regulators, and greater data availability, the opportunities for undertaking impactful research in these and related areas are increasing. In this paper, we focus on research that has examined the following questions: (i) Which private and public NFPOs lodge financial reports and what is reported; (ii) Who are the users and what are their information needs? (iii) Which private and public NFPs should lodge financial reports and what should be included in them; and (iv) How should the accounting frameworks for NFP sector reporting be set? For each of these issues, we identify the research gaps and opportunities for further research. 相似文献
18.
“十二五”期间,广西金融业改革发展将面临更加巨大的机遇和挑战。本文在全面回顾和总结“十一五”时期广西金融业改革发展成就的基础上,深入分析了未来五年国际、国内和广西形势发展将要面临的新变化、新特点和新问题,对未来五年广西金融业改革发展重点任务提出了自己的观点和看法。 相似文献
19.
资源陷阱对于资源丰裕地区的经济发展来说是一个涉及多方面的综合问题。本文通过对贵州省资源与经济增长、社会福利之间的关系考察,深入分析了贵州省资源陷阱发生的机制,并通过实际数据的比较说明证实了资源通过投资挤占、效率损失、收入分配等效应对经济和社会福利造成的负面影响。在此基础之上,文章研究了如何通过优化投资结构、规划资源发展、促进收入分配公平、发展低碳循环经济等方式跳出资源陷阱,以实现贵州省经济的可持续健康发展。 相似文献
20.
竞争日益激烈的文化市场竞争使越来越多的文化企业尤其是美术文化企业开始意识到仅仅重视文化本身和营销并不能使其保持优势,只有将人力资源与企业本身结合,才能衍生出企业独特的优势。本文试图通过美术文化企业人力资源管理的现状,探讨人力资源管理在企业中的作用,并探讨实现人力资源最优化的创新策略。 相似文献