Organizational culture in public accounting: Size, technology, rank, and functional area

This study examines the nature of organizational culture in public accounting and demonstrates that different aspects of culture exist across and within public accounting firms. Organizational culture is defined in terms of values shared by members of an organization (or organizational sub-unit) that manifest themselves in the practices of that organization. Practices particularly important to the development and maintenance of culture include selection and socialization. The hypotheses state that different aspects of organizational culture vary across public accounting firms of different size and technology, and public accountants of different rank and functional area. These hypotheses are tested and largely supported with responses to a paper and pencil instrument, the Values Survey Module (Hofstede, Institute for Research on Intercultural Cooperation, 1982), which was completed by 338 public accountants across the United States. Implications for accountants and future research are also discussed.     

Measuring volatility with the realized range

Realized variance, being the summation of squared intra-day returns, has quickly gained popularity as a measure of daily volatility. Following Parkinson [1980. The extreme value method for estimating the variance of the rate of return. Journal of Business 53, 61–65] we replace each squared intra-day return by the high–low range for that period to create a novel and more efficient estimator called the realized range. In addition, we suggest a bias-correction procedure to account for the effects of microstructure frictions based upon scaling the realized range with the average level of the daily range. Simulation experiments demonstrate that for plausible levels of non-trading and bid–ask bounce the realized range has a lower mean-squared error than the realized variance, including variants thereof that are robust to microstructure noise. Empirical analysis of the S&P500 index-futures and the S&P100 constituents confirms the potential of the realized range.     

Customer loyalty: Toward an integrated conceptual framework

Customer loyalty is viewed as the strength of the relationship between an individual’s relative attitude and repeat patronage. The relationship is seen as mediated by social norms and situational factors. Cognitive, affective, and conative antecedents of relative attitude are identified as contributing to loyalty, along with motivational, perceptual, and behavioral consequences. Implications for research and for the management of loyalty are derived. His research interests include consumer decision making, information processing, and consumer loyalty. He has published in theJournal of Consumer Research andAdvances in Consumer Research. His research interests are consumer information processing, persuasion cues in advertising, and international marketing. His articles have appeared in theJournal of Consumer Research, Journal of Marketing Research, Journal of Consumer Psychology, andCanadian Journal of Administrative Sciences as well as in a number of conference proceedings.     

Book Reviews

Leon A. Mears, The New Rice Economy of Indonesia, Yogyakarta: Gadjah Mada University Press, 1981, pp. xxiii + 605. Price US$15.

Alfian, Mely G. Tan, Selo Soemardjan (eds). Kemirkinan Struktural: Suatu Bunga Rampai (Structural Poverty: A Collection). Jakarta: Yayasan Ilmu-Ilmu Sosial (YIIS), 1980. pp. 189. Rp 2000.

Thee Kian Wie, Pemerataan- Kemiskinan- Ketimpangan (Equalization-Poverty-Uneven Distribution), Jakarta: Sinar Harapan. 1981, pp. 152. Rp 1750.

Bulletin Leknns, Year 1 No. 2, Feb. 1982, Special Edition on Employment Opportunity, Poverty and Population Mobility in Rural Areas, pp. 146.

Mubyarto (ed.), Growth and Equity in Indonesian Agricultural Development, Jakarta: Yayasan Agro Ekonomika, 1982. pp. xv + 258.

Muriel Charras, De la forêt malefique à I'herbe divine [From Malign Jungle to Divine Grain]: La transmigration en Indonesie: Les Balinais a Sulawesi, Paris: Editions de la Maison des sciences de I'homme 1982, pp, viii + 341. Price Fr. 90.00.

Yujiro Hayami and Masao Kikuchi. Asian Village Economy at the Crossroads: An Economic Approach to Institutional Change, Tokyo: University of Tokyo Press, 1981, pp. xvi + 275. Yen 4000. Geoffrey B. Hainsworth (ed.), Village-level Modernization in Southeast Asia: The Political Economy of Rice and Water. Vancouver: University of British Columbia Press. 1982. pp. ix + 411. Can$34.00.

Colin MacAndrews and Chia Lin-Sien (eds.). Too Rapid Rural Development: Perceptions and Perspectives from Southeast Asia, Athens: University of Ohio Press, pp. xiv + 369. Cloth $19.95, paper $10.95.

Gary E. Hansen (ed.), Agricultural and Rural Development in Indonesia, Boulder, Colorado: Westview Press, 1981, pp. xiv + 312.

William L. Collier, Declining Labour Absorption (1878 to 1980) in Javanese Rice Production, Bogor: Agro-economic Survey, Rural Dynamics Study, Publication No. 2, 1980, pp. 120.     

Forecasting interest rates with shifting endpoints

We consider forecasting the term structure of interest rates with the assumption that factors driving the yield curve are stationary around a slowly time‐varying mean or ‘shifting endpoint’. The shifting endpoints are captured using either (i) time series methods (exponential smoothing) or (ii) long‐range survey forecasts of either interest rates or inflation and output growth, or (iii) exponentially smoothed realizations of these macro variables. Allowing for shifting endpoints in yield curve factors provides substantial and significant gains in out‐of‐sample predictive accuracy, relative to stationary and random walk benchmarks. Forecast improvements are largest for long‐maturity interest rates and for long‐horizon forecasts. Copyright © 2013 John Wiley & Sons, Ltd.     

Money Allocation to Out-of-Home Leisure Activities and the Organization of These Activities in Time and Space

Monetary budgets influence activity participation and related travel as they demarcate limits on how people organize their activities in time and space. In this paper, we are interested in money allocation to out-of-home leisure activities and how this is affected by duration, sociodemographics, and time-location variables. Analyses were carried out by applying a seemingly unrelated regression model to a leisure activity data set. The analyses revealed that expenditures for out-of-home leisure activities are influenced by the variables mentioned above. Moreover, the results indicate that there is a substitution between expenditure of each activity.     

Identifying contracts,combinations and conspiracies in restraint of trade

Antitrust guidelines rely on structural screens to review horizontal merger proposals for possible anti-competitive effects. This paper extends this screening approach to forecast where industry cartels will form, and where cartel agreements are more likely to raise price. I test the screen's reliability for a unique data set of legal, privately enforced industry cartels that formed under the Webb-Pomerene Export Trade Act. Consistent with screening assumptions, I find that cartels formed more frequently in industries with significant potential market power, high barriers to entry, and conditions facilitating the enforcement of agreements. However, these characteristics generally perform less well at distinguishing when cartels are likely to raise price without generating offsetting cost-savings, suggesting that screening is reliable only as a preliminary check for possible anti-competitive behavior.     

Are you really doing good things in your boss's eyes? Interactive effects of employee innovative work behavior and leader–member exchange on supervisory performance ratings

Organizations increasingly depend on employee efforts to innovate. However, the quality of relationships between leaders and employees may affect the recognition that employees receive for their innovative work behaviors. Drawing from a social cognition perspective, we tested a model in which leader–member exchange (LMX) moderates the impact of employee innovative work behavior on supervisory ratings of employee performance. Results from two multisource studies combining self, colleague, and supervisor ratings consistently showed that employees receive more favorable performance ratings by engaging in innovative work behavior when they have high‐quality LMX relationships. Moreover, we found that this interactive relationship was mediated by leader perceptions of innovative employee efforts, providing support for a moderated mediation model. Implications for the literatures on performance appraisal, LMX, and innovation are discussed.     

Factors influencing customer engagement with branded content in the social network sites of integrated resorts

The integrated resorts rely on social network sites (SNSs) for content marketing, while one of the main purposes of content marketing is customer engagement that will leverage the impact of branded content. This study investigates the factors influencing customer engagement with brand posts of integrated resorts on the SNSs. The findings highlight the important influence of both media-type and content-type factors on the level of customer engagement in SNSs of integrated resorts. This study provides practical implications for integrated resorts to develop SNS online content marketing strategy.     

Does output have a unit root? New international evidence

In this paper unit-root tests for per capita output of 12 OECD countries are performed. Using traditional unit-root tests, it follows that the unit-root hypothesis cannot be rejected except for the US. However, following the approach of Perron (1989), which takes shifts in mean and/or trend into account, the null hypothesis of a unit-root can be rejected in most countries in our sample. In contrast to Perron, a method suggested by Christiano (1992)is used to determine the break date endogenously.