Strength in numbers or guilt by association? Intragroup effects of female chief executive announcements

We predict that the media reports on female CEOs as a coherent group, whereas male CEOs are treated as individuals by the media. We also suggest that the resulting investors' perceptions of group entitativity of female‐led firms may not only influence the succession event–performance relationship at the focal firm, but may also have a significant effect on the value of other female‐led companies. Results of a text analysis and an event study of appointments of female CEOs to Fortune 1000 firms provide support for these predictions. Copyright © 2013 John Wiley & Sons, Ltd.     

Wealth effects of convertible-bond and warrant-bond offerings: a meta-analysis

The literature on wealth effects associated with the announcements of convertible-bond and warrant-bond offerings is reviewed. The findings of 35 event studies, which include 84 sub-samples and 6310 announcements, are analysed using meta-analysis. We find a mean cumulative abnormal return of?1.14% for convertibles compared with?0.02% for warrant bonds, the significant difference confirming a relative advantage for warrant bonds. Abnormal returns for hybrid securities issued in the USA are significantly more negative than those issued in other countries. In addition, issuing hybrid securities to refund debt does not seem to be favoured by investors. Finally, several factors identified as important by theory or in prior research are not significant within our cross-study models, suggesting that more evidence is needed to confirm whether they are robust.     

How AIS can progress along with ontology research in IS

Recent years have witnessed a strong and growing interest in the computer science (CS) and information systems (IS) disciplines in applying and extending ontological principles to various CS/IS domains such as knowledge representation, natural language processing, conceptual modeling, and IS development. Similar interest and work have also been observed in accounting information systems (AIS) research. Though ontology research in AIS has enjoyed sustained interest and produced some significant results, there is relatively little incorporation of recent developments in CS/IS ontology research into AIS. This paper provides an overview of some leading areas of ontology research in CS/IS and AIS in an attempt to bridge this gap. The main objectives of this paper are to (1) introduce CS/IS ontology research, (2) highlight areas of future research in AIS where CS/IS ontology research developments can be used to address important and pressing issues, and (3) broaden an area of research where AIS can make unique contributions to distinguish itself.     

Where is the opportunity in opportunity zones?

In December 2017, the U.S. Congress passed into law the Opportunity Zone (OZ) program. As an OZ, designated low-income census tracts provide considerable tax breaks to property investors, intending to attract investments and spur economic growth. As the success of the program is dependent on investors' responses, we analyze market reactions in a difference-in-differences framework. We identify two potential effects on property markets: tax breaks for investors and expected land value appreciation. Our results show that tax breaks are priced efficiently. Qualified properties increase by 7–20% in price, while vacant land increase up to 37%. In contrast, we find limited signs of expected land value appreciation.     

Public service and private gain

The Department of Education &; Science recently published details of the type of financial delegation schemes which schools will have to submit by September 1989. Together with other elements in the Education Reform Act, it is clear that delegation will give considerable scope to headteachers with the requisite abilities and attitudes to develop as general managers, and so create distinctive institutions which reflect their vision of what constitutes a good school.     

Comparative evaluation of a teaching innovation in accounting education: intensive learning in a seminar format

This paper reports a teaching innovation involving intensive learning and the evaluation of that innovation. A review of the literature reveals a lack of research about how effective intensive programmes are in enhancing student learning. In this study the performance of students studying accounting during an intensive summer-school in seminar format was compared with those studying during the regular semester in a lecture and tutorial format. Performance was compared by reference to students' grades and the understanding and retention of a key concept in the subject. Student study habits and the experiences of staff and students who participated in the summer-school were also evaluated. This study concluded that summer-school students' performance was better than regular semester students in the accounting subject studied. Their performance was equivalent or better than the regular semester students in the three other subjects studied in first semester. Summer-school students demonstrated a more complete understanding of a key concept than did the students in the regular semester, with this difference sustained after two years. There was a positive response to the summer-school by those staff and students who participated.