Doing qualitative field research in management accounting: Positioning data to contribute to theory

In this paper we argue that theory, method, methodology, and knowledge gains in qualitative field studies are intertwined through the ongoing hypothesis development in the field. We develop our argument through a discussion of specific qualitative field studies in management accounting. We emphasise in particular the distinctive role of theory in qualitative research as relating to expression of a subjective reality more than clarification of an objective one. In considering this subjectivity we discuss the ways in which the doing of qualitative research brings to bear discipline on the researcher allowing us to assess the trustworthiness of their accounts. The intention is to develop a more appropriate basis for judging the plausibility of qualitative field studies than notions borrowed from positivistic methodology.     

Insuring against the shortfall risk associated with real options

We would like to insure against the risk that a geometric Brownian motion, correlated with the price process of a certain traded asset, is in a set E at time T. In this paper it is shown that the best action one can take to insure against this risk is to buy a binary option on the traded asset. We give explicit formulas in the case that E is an infinite interval. The setting of all our investigations is the Black-Scholes model. Mathematics Subject Classification (2000): 91B28, 60J65, 62P05, 91B30, 62F03 Journal of Economic Literature Classification: G31     

The learning curve and the health care industry

This article will examine the learning curve and its potential impact on the health care industry. Although the learning curve has traditionally been applied to the manufacturing industry, a labor-intensive industry like health care is a prime candidate for the benefits of the learning curve. Specifically, we will look at past research on the learning curve and discuss what effects learning might have on health care costs and outcomes in the current health care environment.     

Corporate Governance and Expected Stock Returns: Evidence from Germany

Recent empirical work shows evidence for higher valuation of firms in countries with a better legal environment. We investigate whether differences in the quality of firm‐level corporate governance also help to explain firm performance in a cross‐section of companies within a single jurisdiction. Constructing a broad corporate governance rating (CGR) for German public firms, we document a positive relationship between governance practices and firm valuation. There is also evidence that expected stock returns are negatively correlated with firm‐level corporate governance, if dividend yields are used as proxies for the cost of capital. An investment strategy that bought high‐CGR firms and shorted low‐CGR firms earned abnormal returns of around 12% on an annual basis during the sample period.     

Daniel Süss

Ohne Zusammenfassung     

Anstieg der Staatsverschuldung stellt Finanzpolitik vor große Herausforderungen

Zusammenfassung  Aufgrund der derzeitigen Finanz- und Wirtschaftskrise wird die Verschuldung der ?ffentlichen Haushalte in diesem und dem kommenden Jahr so erheblich steigen, dass es selbst unter günstigen gesamt- und finanzwirtschaftlichen Rahmenbedingungen mindestens ein Jahrzehnt dauern k?nnte, bis Deutschland wieder beide Verschuldungsgrenzen des Maastricht-Vertrages einhalten wird. Wie rasch kann die hohe Staatsschuldenquote zurückgeführt werden? Welchen Beitrag kann die Finanzpolitik für ein angemessenes Wirtschaftswachstum leisten? Wie sollte die Konsolidierungsstrategie ausgerichtet sein? Heinz Gebhardt, 56, Dipl.-Volkswirt, arbeitet in den Kompetenzbereichen „?ffentliche Finanzen“ und „Wachstum und Konjunktur“ des RWI Essen; Dr. Rainer Kambeck, 47, ist Leiter des Kompetenzbereichs „?ffentliche Finanzen“. Die Autoren danken Christoph M. Schmidt für kritische Anmerkungen und hilfreiche Kommentare.     

Steuermehreinnahmen er?ffnen budget?re Spielr?ume zum Abbau der kalten Progression

In May 2012 the Working Party on Tax Revenue Forecasting released a tax revenue estimate for the current year and the following four years based on key macroeconomic data supplied by the German Federal Government. The new official tax estimate forecasts additional revenues for central, state and local government. Tax revenues are expected to bring additional €24.9bn between 2012 and 2016. With the budgetary leeway, the fiscal drag, which has occurred since 2010, could be eliminated in 2013 and 2014. The Act to reduce fiscal drag would result in a revenue loss of €6bn a year.