Geographic earnings disclosure and trading volume

Beginning with Statement of Financial Accounting Standards No. 131 (SFAS 131), Disclosures about Segments of an Enterprise and Related Information, most US multinational firms no longer disclose geographic earnings in their annual reports. Given the recent growth in foreign operations of US firms and the varying operating environments around the world, information (or lack thereof) related to geographical performance can affect investors’ information set. Using empirical tests that closely follow the [Kim, O., Verrecchia, R., 1997. Pre-announcement and event-period private information. Journal of Accounting and Economics 24, 395–419] model, we find results consistent with their predictions. Specifically, using a sample of firms with substantial foreign operations, we find evidence of a decrease in event period private information following adoption of SFAS 131 for firms that no longer disclose geographic earnings. These results suggest that decreased public information (i.e., non-disclosure of geographic earnings) reduces the ability of investors to utilize or generate private information in conjunction with the public announcement of quarterly earnings, which dampens trading. We also find evidence of a decrease in pre-announcement private information following adoption of SFAS 131. This is consistent with an overall improvement in public disclosures that has the effect of reducing differences in the precision of private information across investors in the period prior to the earnings announcement. However, such an effect is observed for both firms which no longer disclose geographic earnings and for firms that continue to disclose geographic earnings.     

THE INFLUENCE OF RISK AVERSION ON THE UPTAKE OF SET-ASIDE: A MOTAD AND CRP APPROACH

This paper applies MOTAD and CRP models to the farm set-aside decision and presents a framework for analysis which examines the influence of risk on the land-idling decision. The results suggest that set-aside payment at a rate of £180-£200 per hectare would be attractive only at relatively high levels of risk aversion on an East Anglian specialist cereal farm and with moderate risk aversion on a Northumberland mixed farm. However, at identical levels of risk aversion, the area set aside was greater on the East Anglian farm. A survey to ascertain farmers' risk: income weightings is suggested as a useful adjunct to this work.     

Differences between domestic accounting standards and IAS: Measurement,determinants and implications

This study analyzes determinants and effects of differences between Domestic Accounting Standards (DAS) and International Accounting Standards (IAS). We use an extensive list of differences between DAS and IAS to create two indices, absence and divergence. Absence measures the extent to which the rules regarding certain accounting issues are missing in DAS but are covered in IAS. Divergence applies in circumstances where the rules regarding the same accounting issue differ in DAS and IAS. It measures the extent of differences between DAS-based rules and IAS-based rules.     

Effects of Child Health on Sources of Public Support

We estimate the effects of having a child in poor health on the mother's receipt of Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), and public support in the form of food (Special Supplemental Nutrition Program for Women, Infants, and Children [WIC] or food stamps), health insurance (Medicaid), and housing. We find that mothers with unhealthy children are between 2 and 8 percentage points (8-33%) more likely to rely on TANF than those with healthy children. There are stronger effects for mothers with older children than for those having first births. Mothers of children in poor health are also more likely than those with healthy children to receive SSI, Medicaid, and housing assistance but not WIC or food stamps. Given the restrictive new welfare environment, mothers who rely on TANF to cope with the burden of caring for unhealthy infants may soon encounter difficulties making ends meet and have insufficient resources to invest in their children's health.     

National Cooperative Commercial Banking and Development Strategy in Guyana

Abstract . The evolution of the cooperative movement in Guyana resulted in the adoption of a new development strategy. In it a leadership role is given to a new type of government bank, the Guyana National Cooperative Bank. Its mission is to protect and nurture the developing country's cooperative societies, organized mostly on Rochdale principles or on those of the Scandinavian marketing cooperatives. Basically a development savings bank, the GNCB is also an organ through which the Government is minimizing the role of foreign banks in the export sector of the national economy.     

Decentralization,the New Public Management,and The Changing Role of The Public Sector In Africa

The role of the public sector in most countries around the world is changing both with respect to public service delivery and the stimulation of economic progress. That change, which was occasioned by the need for policy reform, has resulted in what is now termed ‘the new public management’, reflecting a movement away from the old values and norms of public sector administration. This article examines and analyses the concept of decentralization and its relevance to the changing role of the public sector, within the context of ‘the new public management’. and with special reference to Africa. The perspective of the article assumes that the new public management provides an appropriate framework for responding to the efficient delivery of public services in Africa.