An Historical Analysis of Ethical Pronouncements and Debate in the Australian Accounting Profession

This paper traces the forerunners of the present-day ethical rulings of the Institute of Chartered Accountants in Australia and the Australian Society of Accountants from the earlies professional Australian accounting bodies of the 1880s and 1890s. Various codes of ethics, articles, and memoranda of association, by-laws, charters, and professional publications are reviewed. Key Australian ethical issues are identified and their orientation over time considered. There is an early orientation towards overseas viewpoints and the issue of advertising is identified as a key impetus for ethical code development. The profession's self-interest is identified as an underlying rationale. This is presented as an historical case study of the development of accounting ethics with a view to identifying factors influencing change over time.     

Longitudinal rank tests for detecting location shift in the distribution of abnormal returns: An extension*

Abstract. We extend Chandra and Rohrbach (1990) to explain how to develop a longitudinal rank test (r-test) analogous to any t-test used in the event study literature. We compare all analogous pairs using market model residuals. The r-test is more powerful than the t-test in each pair. This suggests that if the researcher intends to use any t-test then, for more power, the comparable test should be preferred. These results should be useful to the researcher in selecting an r-test for event study because now the same flexibility of choosing an r-test as a t-test is available. Résumé. Les auteurs poussent plus loin les travaux de Chandra et Rohrbach (1990) pour expliquer comment mettre au point un test de rangs logitudinaux (test r) analogue aux différents tests t utilisés dans les ouvrages portant sur l'étude d'événements. Ils comparent toutes les paires analogues en utilisant les résiduels des modèles de marché. Le test r est plus puissant que le test t dans chacune des paires, de sorte qu'on peut penser que si le chercheur prévoit utiliser un test t pour sa puissance, il aurait avantage à recourir au test r comparable. Ces résultats devraient être utiles aux chercheurs dans la sélection d'un test r pour l'étude d'événements puisque, dorénavant, le choix d'un test r peut offrir la même souplesse que celui d'un test t     

核电厂重水池内自由液面之全非线性运动模拟

本论文利用除奇点方法建立一个数值分析模型。用来模拟核电厂重水池受地震影响，进行受迫运动时，其自由液面的运动情形。文中将模拟地震进行方式分为升降，横荡等运动模型。设定初始值包含振幅，频率，重水池宽度及流体深度等。并将模拟之结果做讨论，计算结果之比较显示使用本法可正确地模拟受到地震时，核能发电厂的重水池自由液面的运动情形，比较计算结果显示，使用除奇点技巧所建立之数值模型相对于有限元素法（FEM）能以较少的计算时间及更简单的程式架构。模拟出相同或更好的结果。     

Water hammer in the pump-rising pipeline system with an air chamber

Water hammer following the tripping of pumps can lead to overpressure and negative pressure. Reduction in overpressure and negative pressure may be necessary to avoid failure, to improve the efficiency of operation and to avoid fatigue of system components. The field tests on the water hammer have been conducted on the pump rising pipeline system with an air chamber. The hydraulic transient was simulated using the method of characteristics. Minimizing the least squares problem representing the difference between the measured and predicted transient response in the system performs the calibration of the simulation program. Among the input variables used in the water hammer analysis, the polytropic exponent, the discharge coefficient and the wave speed were calibrated. The computer program developed in this study will be useful in designing the optimum parameters of an air chamber for the real pump pipeline system. The correct selection of air chamber size and the effect of the inner diameter of the orifice to minimize water hammer have been investigated by both field measurements and numerical modeling.     

MAY ISSUE VERSUS SHALL ISSUE: EXPLAINING THE PATTERN OF CONCEALED-CARRY HANDGUN LAWS, 1960–2001

We analyze the timing and pattern of adoption of "shall issue" concealed-carry handgun laws. "Shall issue" laws require the authorities to issue permits to qualified applicants; "may issue" laws give the authorities more latitude to reject applications. We find three factors influence the shift from "may issue" to "shall issue." First, more urban states are less likely to shift to "shall issue," although the size of this effect is quantitatively small. Second, the switch is influenced by the decisions taken by neighboring states. Third, we find evidence that increases in the crime rate accelerated the switch to "shall issue." ( JEL K40)     

HOUSING, SPRAWL, AND THE USE OF DEVELOPMENT IMPACT FEES: THE CASE OF THE INLAND EMPIRE

This article is concerned with the economics of excessively large and socially costly suburban expansion and attempts to summarize and organize the main economic arguments associated with sprawl due to single-family residential home construction. We also apply standard welfare economics and price policy instruments to the issue of suburban sprawl in order to suggest ways in which economics can participate in and inform the debate over sprawl. The article uses the Inland Empire, which includes the valley regions of San Bernardino and Riverside Counties in Southern California east of Los Angeles, as a case study. ( JEL R11, R14, Q24)     

ARMS NEGOTIATIONS, THE SOVIET ECONOMY, AND DEMOCRATICALLY INDUCED DELUSIONS

It is widely assumed that weak economic performance in the Soviet Union provides motivation for Soviet leaders to pursue arms negotiations in good faith. This paper argues that the reality is quite the opposite. For both political and economic considerations, the weak economy of the Soviet Union generates incentives for the Soviets to use arms control negotiations to achieve military advantages rather than to limit arms.     

Earnings and Dividend Announcements: Is There a Corroboration Effect?

We examine abnormal stock returns surrounding contemporaneous earnings and dividend announcements in order to determine whether investors evaluate the two announcements in relation to each other. We find that there is a statistically significant interaction effect. The abnormal return corresponding to any earnings or dividend announcement depends upon the value of the other announcement. This evidence suggests the existence of a corroborative relationship between the two announcements. Investors give more credence to unanticipated dividend increases or decreases when earnings are also above or below expectations, and vice versa.     

Crisis and Recovery: What We Have Learned from the South Korean Experience?*

This paper analyzes the process of recovery from the 1997 financial crisis in South Korea, and draws some lessons from it. The fast restoration of financial stability due to early closure of non‐viable financial institutions and quick resolution of non‐performing loans was critical for the speedy recovery of the South Korean economy. The swift adjustment in fiscal and monetary policies in addition to the large depreciation of real exchange rates also supported the fast recovery. Corporate and government bond markets played an important role in the financial restructuring and macroeconomic adjustment process. Structural reforms helped to alleviate the weaknesses in the corporate sector, particularly in chaebol groups. However, the fast recovery also generated unwelcome side‐effects. Because of aggressive fiscal expansion through government‐guaranteed bonds and public credit guarantee programs, sovereign liabilities increased greatly and transparency of the official fiscal stance deteriorated. Thanks to structural reform, corporate and financial sectors began to recognize the importance of micro risk management, but increased risk aversion contributed to the slowdown of corporate investment and, therefore, reduced long‐run growth perspective in South Korea. How to revive long‐term growth rates remains an important question in South Korea despite fast recovery from the crisis.     

外国技术授权策略与本国关税政策之探讨

本文将以一个拥有技术优势，且将其产品输往本国寡占市场中的外国厂商为对象，探讨其对本国厂商的最适技术授权策略，以及该策略是否受关税保护贸易政策之影响。在本文的研究结论中，我们可以发现下列三点：（1）在自由贸易条件下，当外国企业可授权国内二家厂商时，其最适授权策略，会选择同时授权于国内二家技术劣势厂商。当外国厂商仅可授权国内一家技术劣势厂商时，若市场规模相对较小，国外技术优势厂商之最适单位权利金订定为存在内部解，且会受市场规模的影响，市场规模值愈大，权利金愈高。当市场规模相对较大时，则国外技术优势厂商之最适单位权利金恰等于其技术创新所能节省的成本幅度。（2）在关税政策条件下，国外技术优势厂商可同时授权国内二家厂商时，其授权策略不受关税政策影响。在可授权国内一家技术劣势厂商时，若市场规模相对较大，其授权策略不受关税政策影响。若市场规模相对较小，在自由贸易条件下外国厂商的授权权利金将高于采取关税政策条件下的水准。（3）在本国政府的最适关税政策下，不论是当外国厂商可授权本国二家厂商之Nash均衡或可授权本国一家厂商之Nash均衡，皆有助于本国福利水准的提升。