The impact of FIFA’s official announcements on the stock market of Qatar: The case of the 2022 World Cup

This study examines the impact of the FIFA’s official announcements on Doha Stock Exchange (DSE) of Qatar with respect to the 2022 World Cup. Using the abnormal unsystematic volatility method of Hilliard and Savickas (2002), our empirical findings reveal that the DSE market is sensitive to FIFA’s announcements about the 2022 World Cup. We find that four out of six FIFA announcements act as primary drivers to the DSE market volatility. The significant reactions of the DSE market to these announcements unveil the investors’ sentiments about the fate of the governmental and private expenditures on medium- and long-term projects undertaken in anticipation of hosting the 2022 World Cup. The results have some implications to investors in this newly emerging market related to this global sporting event. Any future announcements, good or bad, are likely to impact share prices in DSE market and trigger portfolio reallocation by local and international investors, leading to increased volatility.     

How the enterprise risk management function influences decision-making in the organization – A field study of a large,global oil and gas company

Risk management has been a discipline for decades. However, organizations have only recently begun to introduce a separate enterprise risk management (ERM) function. The aim of this study is to examine the transformation of the ERM function's influence in a company over time. We use a historical case study informed by social theory on how to influence others to investigate this phenomenon. The findings show that the construction of risk technologies over time triggers a change in the ERM function's influence on decision-making. Two processes of influence are used by the ERM function: selling new ideas and managing knowledge across boundaries. In the first process, the ERM function attempts to vertically influence top management's decisions regarding acceptance of new risk management technologies. In the second process, the ERM function attempts to horizontally influence decision makers to use risk knowledge in decision processes. Theoretically, our findings contribute to our understanding of how the ERM function influences decision-making in organizations over time.     

Why the Development of Health Insurance Is Regionally Imbalanced: Evidence from China

As China adopted an imbalanced development strategy to obtain rapid economic growth, it is getting more and more urgent to find out a feasible way to balanced development of social safety network. This study measures the degree of regional disparities in China’s health insurance industry and explores the rationales by a thorough examination of health insurance purchasing behavior. An empirical analysis is conducted, based on a panel data of 31 provinces from 2004 to 2014, to test the hypothesis. We find that the regional disparities would be significantly affected by the variables including age structure, education, income, availability of health resources, density of population, and substitutes.     

Wealth and risk implications of the Dodd-Frank Act on the U.S. financial intermediaries

We contribute to the current regulatory debate by examining the wealth and risk effects of the Dodd-Frank Act on U.S. financial institutions. We measure the effects of key legislative events of the Act by means of a multivariate regression model using the seemingly unrelated regression (SUR) framework. Our results indicate a mixed reaction by financial institutions during the various stages of the Act’s legislative process. Further tests reveal that any positive reactions are driven by small and/or low risk institutions, while negative ones are consistent across subsets; except for investment banks. We also find market risk increases for most financial institutions that are dominated by small and/or low risk firms. The cross-section results reveal that large institutions fare better than their smaller counterparts and that large investment banks gain value at the expense of others. Overall, the Dodd-Frank Act may have redistributed value among financial institutions, while not necessarily reducing the industry’s riskiness.     

中国流通服务业影响力实证研究

本文运用多元回归分析方法,计量分析流通服务业对国民经济的直接与间接贡献,得出三个主要结论:流通服务业作为一个产业规模较小,传统方法的分析低估了流通服务业对经济增长的外溢作用;流通服务业对宏观经济的贡献力、对区域经济的辐射力、对上游产业的控制力以及对消费的服务力,使其在宏观经济中稳居基础产业地位;由于流通体制的制约和传导机制的阻塞,流通服务业对经济增长和社会发展的巨大作用还没有充分显现出来。     

辽宁省对外开放度的测算与比较研究

对外开放度是衡量一个地区经济活跃程度的重要指标,也是一个地区经济发展水平的重要表征。本文利用相关数据,测算了辽宁省的贸易开放度、资本开放度、生产开放度和经济开放度指标。并通过与广东、上海、北京等发达省市及全国平均开放度水平的比较,分析了造成辽宁省对外开放度相对较低的主要原因,提出了相应的对策和建议。     

中日服务贸易发展路径比较研究

服务贸易作为一种新型的贸易形式正迅速发展,为加快世界经济转型,促进经济增长提供了新的动力。文章在对中日两国的服务贸易发展路径的比较过后发现,中国的服务贸易发展有与日本存在诸多相似之处,中国的服务贸易处于日本服务贸易发展的初级阶段。政府应从政策、技术创新、产业结构等方面进行改善和调整,以促进中国服务贸易健康、快速发展。     

Commemorating the 50‐Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years

We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown [1968] researchers took as they sought to build on the foundation laid by Ball and Brown [1968] to create a body of research on the usefulness, timeliness, and other properties of accounting numbers. We discuss how those paths often link back to the groundwork laid and questions originally posed in Ball and Brown [1968].     

会计实验研究对额外变量的控制

实验研究是对相关会计行为进行研究的主要方法之一.通过对变量之间因果关系的揭示,能够充分说明会计行为、会计判断的内在规律.但在研究中,不仅存在着可由实验者控制的能够对被试反应产生影响的变量,还有一些不用于研究目的却也会对被试反应产生影响的变量,即为额外变量,需要对其进行消除或控制.可以认为,会计实验研究的成败与研究者对额外变量的控制效果密切相关.本文通过对会计实验研究中额外变量的不同控制方法进行分析和说明,使实验研究者可以明确如何在会计相关研究中对额外变量进行有效控制,进而有效提高实验的效度.     

战略投资者、公司治理与银行绩效——对中国城市商业银行的实证研究

基于中国8家城市商业银行的数据,采用截面数据和序列数据相结合的方法,对战略投资者参与中国城市商业银行治理的理论机理及其影响城市商业银行绩效的途径进行的分析表明:境外战略投资者可以促进城市商业银行改善公司治理,从而提升中国城市商业银行的绩效;国有股权比例与银行盈利性、第一大股东持股比例与银行资本充足率、董事会规模与银行盈利性均成负相关关系;股权集中度对银行盈利性和安全性均成正相关关系;管理层介入董事会比例对银行的盈利性和安全性的影响都不显著;独立董事比例对银行的盈利性有很强的正面影响。