‘I lose,but that’s not the point’: Situated Economic and Social Rationalities in Horserace Gambling

ABSTRACT

This article compares ethnographic observations of horserace gambling in two UK spaces – the betting shop (remote) and the racecourse (proximal). The paper identifies the emerging, situated rationales that attract gamblers to these leisure spaces, and that motivate them to integrate their gambling activities as an ongoing, sustainable feature of their lives. Doing so, it is observed that, for the vast majority of punters, gambling on the horses is neither ‘addictive’ nor is it ‘irrational’, except in narrowly defined zweckrational terms. The article thus argues for a shift in current gambling research, away from an overwhelming preoccupation with pathological gambling, towards a broader consideration of the more representative and socioeconomically significant activities of leisure gambling.     

第38届世界标准日祝词标准造福人与社会

地球村的居民们享受着广泛的权利,同时承担着相应的义务。这些权利包括人身安全、公共安全、健康以及自由地获取信息。义务则包含保护环境以及尊重他人的人身安全、财产权利和隐私权。标准有助于公众享受权利并履行义务。例如。标准通过为消费者提供信息和信息保护,     

锡根——德国北莱茵——西伐利亚之工业中心

据文字记载,锡根市的历史始于1224年.大量考古遗迹显示,2500年前,凯尔特人曾在这里生活过,并且已开始对地表铁矿进行冶炼和加工.可以说他们奠定了锡根在北莱茵-西伐利亚工业中心的地位.     

National Cultures,Information Search Behaviors and the Attribution Process of Cross-National Managers: A Conceptual Framework

Teaching Business Ethics - Cross-cultural management researchers haveobserved that when presented with similarethical dilemmas and problems, managers raisedin different cultural environments...     

SNAP and Paycheck Cycles

It is well documented that individuals do not spend the Supplemental Nutrition Assistance Program (SNAP) benefits smoothly over the month after receipt. Rather, recipients spend a disproportionate share of benefits at the beginning of the benefit month. This has costs for recipients and stores. There is also evidence that other income streams, such as Social Security and paychecks, are not spent smoothly. The presence of these other income streams may bias estimates of the effects of this SNAP cycle on consumption for working SNAP beneficiaries and those who receive other government benefits. We use data from United States Department of Agriculture's National Household Food Acquisition and Purchase Survey to explore how the SNAP cycle is affected by accounting for these other income streams. We find suggestive evidence that the cycle is more pronounced for workers who are paid on a weekly or monthly basis, but little evidence that cycles in other income streams mitigate or exacerbate the SNAP cycle.     

Auditing Goodwill in the Post‐Amortization Era: Challenges for Auditors

The elimination of goodwill amortization in 2001 brought about significant change in how companies are required to account for goodwill. This change in accounting also brought with it new challenges for auditors, namely evaluating the reasonableness of management's assumptions related to goodwill valuation. In addition to introducing technical challenges, this task is particularly difficult given the misalignment in incentives it creates between managers who likely prefer to avoid recording an impairment and auditors who seek to minimize the bias in management's impairment testing. This study focuses on the consequences of the misaligned incentives that auditors face under the current goodwill assessment process. We find that the decision to record a goodwill impairment is associated with an increase in the probability of auditor dismissal. Consistent with the presence of significant friction with clients, our results also indicate that the likelihood of auditor dismissals is negatively related to the favorability of the impairment decision. Furthermore, we find that companies impairing goodwill prior to dismissing auditors subsequently employ auditors that are, on average, more favorable to clients in their impairment decisions.     

Impact of Auditor Report Changes on Financial Reporting Quality and Audit Costs: Evidence from the United Kingdom

While substantial revisions to auditor reporting requirements are being implemented internationally, the impact of these reforms on financial reporting quality is unknown. We exploit the United Kingdom's recent auditor reporting changes and find that the United Kingdom's new reporting regime is associated with an improvement in financial reporting quality as proxied by significant decreases in absolute abnormal accruals and the propensity to just meet or beat analyst forecasts, and a significant increase in earnings response coefficients. As for audit costs, we do not find a significant change in audit fees or audit delay surrounding the implementation of the new reporting regime. Taken together, the results of this study suggest that new auditor reporting requirements are associated with a significant improvement in financial reporting quality without detecting a significant increase in audit costs.     

An efficient market? Going public in London, 1891–1911

There have been claims that British capital was not well deployed in Victorian Britain. There was, allegedly, a lack of support for new and dynamic companies in comparison to the situation in Germany and the US. We find no evidence to support these claims. The London Stock Exchange welcomed young, old, domestic, and foreign firms. It provided funds to firms in old, existing industries as well as patenting firms in ‘new‐tech’ industries at similar costs of capital. If investors did show a preference for older and foreign firms, it was because those firms offered investors better long‐run performance. In addition, we show some evidence that investors who worked in the same industry and lived close to the firm going public were allotted more shares in high‐quality initial public offerings.