Journal articles: 'SPECIALIZATION IN FINANCE'

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Imbs, Jean. "Trade, Finance, Specialization, and Synchronization." IMF Working Papers 03, no. 81 (2003): 1. http://dx.doi.org/10.5089/9781451850383.001.

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Imbs, Jean. "Trade, Finance, Specialization, and Synchronization." Review of Economics and Statistics 86, no. 3 (August 2004): 723–34. http://dx.doi.org/10.1162/0034653041811707.

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PANDA, SIDHESWAR, and RUCHI SHARMA. "DOES TECHNOLOGICAL SPECIALIZATION SPUR HIGH-TECHNOLOGY EXPORTS? EVIDENCE FROM PANEL QUANTILE REGRESSIONS." Global Economy Journal 20, no. 02 (June 2020): 2050013. http://dx.doi.org/10.1142/s219456592050013x.

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In view of the technological advances made by emerging economies, we revisit the role of technological specializations of different economies in determining their exports. Employing revealed technological advantage (RTA) index and revealed symmetric technological advantage (RSTA) index, this study explores the technological specialization of countries in different fields and its contribution to high-technology exports. Technological specializations are operationalized using patent data and further analyzed in context of country’s exports data of 63 countries during 2000–2013. Using panel quantile regressions analysis, this paper finds that technological specialization determines the export performance of countries in different categories. We find that middle-income countries are among the top countries with respect to few fields of technological specializations. Hence, there is a need to change the perspective whereby developing countries are viewed as mere technological follower. This finding has an implication for the role of patents in technological specialization and export performance, both of which are important factors in international competitiveness.

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Sierminska, Eva, and Ronald L. Oaxaca. "Field Specializations among Beginning Economists: Are There Gender Differences?" AEA Papers and Proceedings 111 (May 1, 2021): 86–91. http://dx.doi.org/10.1257/pandp.20211030.

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We examine the process underlying field specialization among beginning economists. Our multivariate logit framework accommodates single-and dual-field specializations with correlated choices. Including field-specific relative salaries and expected probabilities of academic employment is a novel aspect of this research. After conditioning on personal, economic, and institutional variables, we find that women graduate students are less likely to specialize in labor/health, macro/finance, industrial organization, public economics, and development/growth/international fields and are more likely to specialize in agricultural/resource/environmental fields. The Duncan dissimilarity index suggests that 14 percent of either sex would have to change specialization in order to achieve complete parity.

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Shrestha, Shankar Kumar, and Bikash Shrestha. "Consumer Behaviour Dimensions in Selection of Undergraduate Management Specialization Courses in Nepal." Nepal Journal of Mathematical Sciences 2, no. 1 (April 30, 2021): 51–62. http://dx.doi.org/10.3126/njmathsci.v2i1.36570.

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Tribhuvan University has designed their undergraduate BBA program by offering students the possibility to customize their educational program through the specialization in four different areas: banking & finance, industry and services management, micro enterprise management, and sales and marketing management. However, students have been specializing only in two courses namely: banking & finance, and sales and marketing. In this regard, the study aims at understanding the specialization choice of such students, as marketers need to be more aware of the underlying factors considered by students when choosing specialization and design the product offerings in this competitive market. The study has the objective of examining the effect of various decision-making variables on the specialization choice of undergraduate students from a consumer behavior perspective.

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COLLA, PAOLO, FILIPPO IPPOLITO, and KAI LI. "Debt Specialization." Journal of Finance 68, no. 5 (September 10, 2013): 2117–41. http://dx.doi.org/10.1111/jofi.12052.

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Balassa, Bela. "Intra-Industry specialization." European Economic Review 30, no. 1 (February 1986): 27–42. http://dx.doi.org/10.1016/0014-2921(86)90030-9.

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Hahn, Franz R. "The finance–specialization–growth nexus: evidence from OECD countries." Applied Financial Economics 18, no. 4 (March 2008): 255–65. http://dx.doi.org/10.1080/09603100600827646.

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Xie, Shihan, Tianyin Cheng, and Wai-Mun Chia. "Trade, finance, specialization and synchronization in the Asia-Pacific." Journal of the Asia Pacific Economy 18, no. 2 (May 2013): 253–70. http://dx.doi.org/10.1080/13547860.2013.778160.

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Low, Kin-Yew. "The Effects of Industry Specialization on Audit Risk Assessments and Audit-Planning Decisions." Accounting Review 79, no. 1 (January 1, 2004): 201–19. http://dx.doi.org/10.2308/accr.2004.79.1.201.

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This study investigates the effects of industry specialization on auditors' risk assessments and audit-planning decisions. In an experiment, auditors from different industry specializations complete a hypothetical audit case set in a specific (bank) industry, which creates either a match or a mismatch between the auditors' industry specialization and the hypothetical client's industry. Furthermore, I manipulate the industry-specific case information to achieve differential audit risk levels. I also provide the auditors with a set of preliminary audit procedures and a constrained time budget. I find that the auditors' knowledge of the client's industry improves their audit risk assessments and directly influences the nature and the perceived quality of their audit-planning decisions. In addition, the auditors' knowledge of the client's industry moderates the sensitivity of the auditors' planning decisions to their audit risk assessments.

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Martín, Juan Carlos, Carmen Orden-Cruz, and Slimane Zergane. "Islamic Finance and Halal Tourism: An Unexplored Bridge for Smart Specialization." Sustainability 12, no. 14 (July 16, 2020): 5736. http://dx.doi.org/10.3390/su12145736.

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Since the 1960s, Halal industry and Islamic Finance have grown in parallel without implementing adequate synergies. Halal tourism is a fast-growing sector of Halal industry, and the connection with Islamic Finance has hardly been researched. The aim of this paper is to analyse whether Islamic Finance can play an active role in developing Halal Tourism. This topic has not been empirically researched in the literature. The methodology is based on a fuzzy hybrid multi-criteria method that satisfactorily handles the imprecise nature associated with the information provided by Likert scales. Our results show how culture has a direct moderating effect on the degree of agreement that respondents have over the active role that IF can play, finding that English respondents agree more than Spanish and Arabs respondents. Similarly, our results also show that the knowledge of the Halal concept makes respondents agree more with the active role of Islamic finance. This study provides insights to the main stakeholders, and it can be strategically used to foster adequate synergy between Islamic Finance and the development of Halal tourist products as a way to specialize in a more sustainable tourism.

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Lashkaripour, Ahmad. "Weight-based quality specialization." Journal of International Economics 127 (November 2020): 103380. http://dx.doi.org/10.1016/j.jinteco.2020.103380.

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Fleming, Damon, Kevin Hee, and Robin N. Romanus. "Auditor industry specialization and audit fees surrounding Section 404 implementation." Review of Accounting and Finance 13, no. 4 (November 4, 2014): 353–70. http://dx.doi.org/10.1108/raf-09-2013-0109.

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Purpose – The purpose of this paper is to investigate the association between auditor industry specialization and audit fees surrounding Section 404 implementation. Design/methodology/approach – With a sample of 1,006 industrial firms over the 2003-2005 reporting periods, an ordinary least square regression model was used to regress change in audit fees on auditor specialization measure and other control variables. Findings – It was found that auditor industry specialization is negatively related to the change in audit fees during the first year of Sarbanes–Oxley Act (SOX) compliance (2003-2004). It was also found that there were no significant cost savings associated with auditor industry specialization in the second year of SOX compliance (2004-2005). Practical implications – These results suggest that industry-specific expertise may enable auditors to adapt more efficiently to new significant audit standards and regulations, but that such efficiencies are likely to be most pronounced during the initial implementation year. Originality/value – Auditor competition and auditor specialization are at the forefront of today’s ever-changing accounting industry. Analysis of a contemporary auditing issue (auditor specialization) in the context of major legislation (SOX) provides a research setting that gives both academics and practitioners valuable insight toward how future legislation can impact current accounting industry issues such as the increasing need to have more expertise.

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Abdel‐Meguid, Ahmed M. "Auditor industry specialization in a MENA region country: lessons learnt from PricewaterhouseCoopers – Egypt." Emerald Emerging Markets Case Studies 1, no. 4 (October 1, 2011): 1–17. http://dx.doi.org/10.1108/20450621111187335.

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TitleAuditor industry specialization in a MENA region country: lessons learnt from PricewaterhouseCoopers – Egypt.Subject areaAuditing, accounting, finance, control.Study level/applicabilityUpper level undergraduate, MBA, MS accounting.Case overviewThis case takes an internal approach by exploring how PricewaterhouseCoopers – Egypt develops and applies industry specialization in an emerging market such as Egypt. The case focuses on three aspects of specialization. First, the strategic drivers behind specialization. Second, the internal processes of building industry‐specific knowledge. Finally, the costs and benefits of specialization.Expected learning outcomesIndustry specialization is a strategy: Specialization is a strategy primarily used by Big 4 auditing firms, such as PwC‐Egypt as a means of differentiating it self from the market. Industry specialization is a culture: For specialization to be fully effective a learning culture should be in place in which firm personnel are committed to continually seek new in‐depth knowledge about clients and their industries. •Human resources are the most valuable asset of auditing firms: •Auditing is a service that involves extensive professional judgment. Thus, knowledge and expertise of its personnel is what differentiates one auditing firm's staff from another.Supplementary materialsTeaching notes.

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Hogan, Chris E., and Debra C. Jeter. "Industry Specialization by Auditors." AUDITING: A Journal of Practice & Theory 18, no. 1 (March 1, 1999): 1–17. http://dx.doi.org/10.2308/aud.1999.18.1.1.

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Dramatic changes in recent years in the audit market suggest the timeliness of an investigation of trends in auditor concentration and an extension of prior research (e.g., Danos and Eichenseher 1982). In recent press, large audit firms have claimed that specialization is a goal of increasing importance. Peat Marwick, for example, has restructured along industry lines, claiming to be recruiting professionals for national teams of multidisciplinary experts organized to “focus on the same industry to serve clients optimally.” On the other hand, litigation concerns might prompt auditors to diversify their risks by diversifying their clientele. In this study, we examine trends in industry specialization from 1976 to 1993 and the industry factors which may affect specialization; whether market share increases are greater for audit firms classified as specialists; and whether the nation's largest audit firms have increased their market share in the industries which they have identified as their focus industries. We find evidence that concentration levels have increased over this period, consistent with the claims of the large audit firms. We find that auditor concentration levels are higher in regulated industries, in more concentrated industries and in industries experiencing rapid growth, but lower in industries with a high risk of litigation. Levels of concentration have increased over time in nonregulated industries providing evidence that scale economies or superior efficiencies of heavy-involvement auditors are not limited to regulated industries but extend to nonregulated industries as well. We also find that for the audit firms classified as market leaders at the beginning of the year, market share has increased over time, whereas market share has declined for firms with a smaller share at the beginning of the year. This suggests that there are returns to investing in specialization.

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Munch, Jakob Roland, and Jan Rose Skaksen. "Specialization, outsourcing and wages." Review of World Economics 145, no. 1 (March 6, 2009): 57–73. http://dx.doi.org/10.1007/s10290-009-0009-2.

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Mutiara, Suci, Yulmaini -, and RZ Abdul Aziz. "SISTEM PENDUKUNG KEPUTUSAN PEMILIHAN KONSENTRASI BIDANG ILMU EKONOMI MENGGUNAKAN METODE WEIGHTED AVERAGE DAN FUZZY FIS TSUKOMOTO ( Studi Kasus Program Magister Manajemen IIB Darmajaya )." Jurnal Informatika 19, no. 2 (December 26, 2019): 167–79. http://dx.doi.org/10.30873/ji.v19i2.1855.

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Postgraduate IIB Darmajaya in Management program in its curriculum offers concentration subjects in the third semester. Concentrations in the field of economics are grouped into three concentrations namely marketing, human resources (HR) and finance (Finance). In the third-semester students are required to choose one concentration of the field of economics according to their competence. But the obstacle is often found in the choice of concentration in the field of economics is that many students still unable recognize their interests and abilities. Besides, many students who choose the concentration in the field of economics only follow the most specialization, but do not follow based on their abilities. According to that, it requires the tool to able to provide decision support in term of selecting concentrations based on predetermined considerations. The methods used in solving this problem are Weighted Average Method and Tsukomoto Fuzzy FIS Method with 4 (four) input variables and 3 (three) output variables. Input variables consist of subject values, interest values, motivation values , and abilities. While the output variable consists of marketing concentration, human resources (HR) and finance (Finance) The sample was taken from second semester students of Master of Management.The test results show that the recommendation for the selection of the right concentration for these students is Financial specialization with a Defuzzification value of 65.91 higher than Marketing and Human Resources specialization which is 64,69 and 64,59, respectively Keywords: Decision Support System, Weighted Average Method, Tsukomoto Fuzzy FIS Method, Concentration

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Iapadre, P. Lelio. "Measuring international specialization." International Advances in Economic Research 7, no. 2 (May 2001): 173–83. http://dx.doi.org/10.1007/bf02296007.

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Dzemydaitė, Giedrė. "The Impact of Economic Specialization on Regional Economic Development in the European Union: Insights for Formation of Smart Specialization Strategy." Economies 9, no. 2 (May 13, 2021): 76. http://dx.doi.org/10.3390/economies9020076.

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The smart specialization concept was implemented in the EU in 2014, stating that regions have to specify specialization areas for development of innovations. Economic specialization reveals a comparative advantage in that field. However, there are different arguments linking specialization to economic development. This study analyzes these arguments and aims to investigate the impact of economic specialization on regional economic development and to give insights into identifying prospective areas in regional economies. A panel fixed effect estimation of industry-level regional data suggests that economic specialization in broader regional employment, called relative specialization, is ambiguously associated with economic development. Our findings suggest that neither economic specialization nor economic diversity are a clear-cut solution for ensuring economic growth. Economic structure in EU regions differs, and there is no one answer for which approach is better for economic development. Specialization measures, particularly the location quotient, cannot fully capture the dynamics in the industry structure that could be essential for formation of regional development strategy.

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Dementiev, V. E. "Economic journals: Specialization against scientometrics." Journal of the New Economic Association 44, no. 4 (2019): 238–44. http://dx.doi.org/10.31737/2221-2264-2019-44-4-12.

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Nissan, Edward, and George Carter. "Specialization of state sectoral employment." Journal of Economics and Finance 33, no. 2 (August 28, 2008): 148–60. http://dx.doi.org/10.1007/s12197-008-9061-3.

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Fitzgerald, Doireann, and Juan Carlos Hallak. "Specialization, factor accumulation and development." Journal of International Economics 64, no. 2 (December 2004): 277–302. http://dx.doi.org/10.1016/j.jinteco.2003.09.001.

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Kuralbayeva, Karlygash, and Radoslaw Stefanski. "Windfalls, structural transformation and specialization." Journal of International Economics 90, no. 2 (July 2013): 273–301. http://dx.doi.org/10.1016/j.jinteco.2013.02.003.

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Warue, Beatrice N. "Theories in finance discipline: A critique of literature review." University Journal 1, no. 2 (March 27, 2023): XX. http://dx.doi.org/10.59952/tuj.v1i2.170.

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The purpose of this paper is to create awareness of a number of existing theories in Finance area of specialization. The compilation and analyses on the theories will help scholars quickly identify theories existing in finance and application of the theories in a scholarly manner. However the theories analyzed are not exhaustive. Scholars are allowed to add to the list of analyses.

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Okasha, Ahmed. "Resource Partitioning and Hospital Specialization." Journal of Health Management 21, no. 3 (September 2019): 337–50. http://dx.doi.org/10.1177/0972063419868543.

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Background: Organizational scholars have been debating over specialism and generalism, and which environment is better for specialists and for generalists. Methods: This study relies heavily on the work of Okasha (Okasha, 1995, Modeling the determinants of hospital services differentiation and specialization (Dissertation). Virginia Commonwealth University, Richmond) and enhances it with available current literature on the topic. Okasha’s ( Modeling the determinants of hospital services differentiation and specialization (Dissertation). Virginia Commonwealth University, Richmond) study tested the use of resource partitioning theory to explain the conversion of generalists to specialists under competitive environments. Results: The anticipated effect of buyers of care on hospital specialization was evident. Recent work on specialization (Eastaugh, 2014, Journal of Healthcare Finance) confirmed the trend. Conclusion: Buyer-related factors and organizational factors were the most important predictors of the positive change in hospital specialization between 1987 and 1993. High competition, the increased pressure from buyers of care, and organizational factors were the most important predictors of the positive change in the hospital specialization measures during that time period.

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Peri, Giovanni, and Chad Sparber. "Task Specialization, Immigration, and Wages." American Economic Journal: Applied Economics 1, no. 3 (June 1, 2009): 135–69. http://dx.doi.org/10.1257/app.1.3.135.

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Large inflows of less educated immigrants may reduce wages paid to comparably-educated, native-born workers. However, if less educated foreign- and native-born workers specialize in different production tasks, because of different abilities, immigration will cause natives to reallocate their task supply, thereby reducing downward wage pressure. Using occupational task-intensity data from the O*NET dataset and individual US census data, we demonstrate that foreign-born workers specialize in occupations intensive in manual-physical labor skills while natives pursue jobs more intensive in communication-language tasks. This mechanism can explain why economic analyses find only modest wage consequences of immigration for less educated native-born workers. (JEL J24, J31, J61)

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Marquez, Robert, and M. Deniz Yavuz. "Specialization, Productivity, and Financing Constraints." Review of Financial Studies 26, no. 11 (July 10, 2013): 2961–84. http://dx.doi.org/10.1093/rfs/hht042.

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Neal, Terry L., and Richard R. Riley. "Auditor Industry Specialist Research Design." AUDITING: A Journal of Practice & Theory 23, no. 2 (September 1, 2004): 169–77. http://dx.doi.org/10.2308/aud.2004.23.2.169.

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Auditor industry specialization has generated significant interest in the academic community. However, a review of prior research suggests a lack of consensus as to how auditor industry specialization should be measured. This paper analyzes data from the 1989–1997 time period and: (1) examines the underlying concepts of specialization that are embodied in the different measurement approaches to industry specialists and the reasons why these measures yield inconsistent results and conclusions, (2) presents a framework to assist researchers in selecting the most appropriate auditor industry specialization metric to apply, and (3) proposes an alternative metric for research designs in particular investigative settings. Our analyses, results, and discussion highlight the differences inherent in industry specialization metrics and offer an interpretation of why such differences exist and provide some guidance for auditor industry metric selection.

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Tah, Kenneth A., and Oscar Martinez. "The effects of securitized asset portfolio specialization on bank holding company’s return, and risk." Studies in Economics and Finance 33, no. 4 (October 3, 2016): 679–87. http://dx.doi.org/10.1108/sef-11-2015-0267.

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Purpose The purpose of this paper is to examine the effect of specialization of the securitized assets portfolio on banks’ performance and securitization risk. In doing so, the paper addresses two important issues. First, whether the efficient risk–return trade-off for securitized asset portfolios is consistent with the principles of diversification. Second, whether the relationship between bank-level returns and securitized assets portfolio specialization is non-linear in securitization risk. Design/methodology/approach This paper used the fixed-effects panel regression model on US bank holding company data for the period 2001:Q2 to 2014:Q1. Findings The results show that securitized assets portfolio specialization increases returns and also reduces securitization default risk; banks’ return and securitized assets specialization are dependent in a non-linear manner on banks’ securitization risk. Additionally, it was also found that lower bank performance leads to higher securitization risk. Originality/value This paper is of value by demonstrating that diversification (specialization) of securitized assets portfolio would achieve better bank performance in low-risk (high-risk) scenarios.

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Shrestha, Shankar Kumar, and Bikash Shrestha. "Eliciting the Determinants of Management Specialization Course Selection: A Consumer Behaviour Perspective." PYC Nepal Journal of Management 13, no. 1 (September 25, 2020): 5–16. http://dx.doi.org/10.3126/pycnjm.v13i1.31491.

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This study utilizes a survey of TU BBA students studying in 8th semester in an effort to understand how they choose their specialization courses by incorporating the attitude formation theory from a consumer behavior perspective. The study used multi stage sampling technique from 10 out of 25 TU BBA campuses. The sample size of the study is 114 students specializing the banking and finance, and sales and marketing in 8th semester. The sample size is sufficient at alpha level (0.05), power (0.8) and anticipated effect size of 0.1 for the hierarchical regression with two and three number of predictors in last two models of the study and for performing t test. The study demonstrated that the GPA in math and FPC underpin the course major decision of students vary significantly between finance and marketing specializing. The findings of this study indicate that students who choose banking and finance as a course major have higher confidence in their strength in mathematics. The study further concludes that students in choosing a higher education program give relatively great importance to various labor market aspects.

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Saint-Paul, Gilles. "Employment protection, international specialization, and innovation." European Economic Review 46, no. 2 (February 2002): 375–95. http://dx.doi.org/10.1016/s0014-2921(01)00093-9.

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Bridgman, Benjamin. "The rise of vertical specialization trade." Journal of International Economics 86, no. 1 (January 2012): 133–40. http://dx.doi.org/10.1016/j.jinteco.2011.08.016.

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Gejadze, Maia, Pierre Giot, and Armin Schwienbacher. "Private equity fundraising and firm specialization." Quarterly Review of Economics and Finance 64 (May 2017): 259–74. http://dx.doi.org/10.1016/j.qref.2016.06.012.

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Wang, Ying-Chieh, Hua Wei Huang, Jeng-Ren Chiou, and Yu Chieh Huang. "The effects of industry expertise on cost of debt: an individual auditor-level analysis." Asian Review of Accounting 25, no. 3 (September 11, 2017): 322–34. http://dx.doi.org/10.1108/ara-08-2014-0092.

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Purpose The purpose of this paper is to examine the association between the cost of debt (COD) and auditor industry expertise using Taiwanese data. Since previous studies (Li et al., 2010) have only examined the relation between industry specialization and COD at the audit firm level in western countries, the authors further examine the association between industry specialization and COD at the individual auditor level in an Asian context. Design/methodology/approach The authors use the interest rate on the firm’s debt as a proxy variable for the COD (Francis, Khurana and Pereira, 2005). The authors adopt three different methods to measure industry specialization, which consist of the auditors’ market share in terms of client sales and number of clients, and client assets. Findings The results indicate that the clients of industry specialists at individual auditor levels have a lower COD. Originality/value First, the authors extend the research of Li et al. (2010) and find that the clients of individual auditor industry specialists also have a lower COD. Second, the authors also believe the evidence on the effects of industry expertise at the individual auditor level may have policy implications for regulators and public investors. Finally, in contrast to works carried out in the US market, the authors provide empirical evidence for the relation between industry specialization and COD in an Asian market.

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Lepore, Dominique, and Francesca Spigarelli. "Integrating Industry 4.0 plans into regional innovation strategies." Local Economy: The Journal of the Local Economy Policy Unit 35, no. 5 (July 8, 2020): 496–510. http://dx.doi.org/10.1177/0269094220937452.

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The article aims to shed light on why and how Smart Specialization Strategies in European countries can promote the development of Industry 4.0 actions in the next programming period 2021–2027. Smart Specialization Strategies could hold a strategic function in the adoption of Industry 4.0 by supporting technological innovation based on the potential of each territory. An integration of Smart Specialization Strategies and Industry 4.0 could be achieved by leveraging on the common collaborative approaches of the two policies, which call for the involvement of multiple stakeholders in their definition and implementation, as national and regional institutions, academia, firms and user. In order to identify enablers that can favour the integration of the two policies, empirical evidence is retrieved from selected technical reports, events and news press from the Smart Specialization platform. Based on the findings, future directions for guiding the revision of the Smart Specialization Strategies towards effectively embedding Industry 4.0 are presented.

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Pignatel, Isabelle. "Directors: geographical and industry specialization?" EuroMed Journal of Business 3, no. 1 (May 16, 2008): 83–98. http://dx.doi.org/10.1108/14502190810873830.

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Verleyen, Isabelle, and Ignace De Beelde. "International Consistency of Auditor Specialization." International Journal of Auditing 15, no. 3 (August 3, 2011): 275–87. http://dx.doi.org/10.1111/j.1099-1123.2011.00434.x.

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Cairney, Timothy D., and George R. Young. "Homogenous Industries and Auditor Specialization: An Indication of Production Economies." AUDITING: A Journal of Practice & Theory 25, no. 1 (May 1, 2006): 49–67. http://dx.doi.org/10.2308/aud.2006.25.1.49.

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In this study, we examine the association between industry homogeneity and auditor specialization. We find a significant association between our proxies for industry homogeneity (change in industry-member operating expenses) and auditor specialization (auditor concentration and auditor focus) after controlling for extent of industry regulation, litigiousness, growth, client-industry concentration, and the number of industry members. The positive relation between our specialist proxies and industry homogeneity indicates that auditors seek additional firms to audit in industries in which members have similar operations. This suggests that auditor specialization provides a cost-based competitive advantage because the cost of developing expertise is spread over more clients. Thus, in contrast to recent criticisms of auditor concentration, specialization results in more efficient audits.

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Balsam, Steven, Jagan Krishnan, and Joon S. Yang. "Auditor Industry Specialization and Earnings Quality." AUDITING: A Journal of Practice & Theory 22, no. 2 (September 1, 2003): 71–97. http://dx.doi.org/10.2308/aud.2003.22.2.71.

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This study examines the association between measures of earnings quality and auditor industry specialization. Prior work has examined the association between auditor brand name and earnings quality, using auditor brand name to proxy for audit quality. Recent work has hypothesized that auditor industry specialization also contributes to audit quality. Extending this literature, we compare the absolute level of discretionary accruals (DAC) and earnings response coefficients (ERC) of firms audited by industry specialists with those of firms not audited by industry specialists. We restrict our study to clients of Big 6 (and later Big 5) auditors to control for brand name. Because industry specialization is unobservable, we use multiple proxies for it. After controlling for variables established in prior work to be related to DAC and the ERC, we find clients of industry specialist auditors have lower DAC and higher ERC than clients of nonspecialist auditors. This finding is consistent with clients of industry specialists having higher earnings quality than clients of nonspecialists.

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Salter, Sean P., Ken H. Johnson, and Ernest W. King. "Listing Specialization and Pricing Precision." Journal of Real Estate Finance and Economics 40, no. 3 (August 23, 2008): 245–59. http://dx.doi.org/10.1007/s11146-008-9146-y.

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Bartkus, James R., and M. Kabir Hassan. "Specialization versus diversification in venture capital investing." Journal of Financial Regulation and Compliance 17, no. 2 (May 8, 2009): 134–45. http://dx.doi.org/10.1108/13581980910952577.

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Jaimovich, Esteban. "Roadways, input sourcing, and patterns of specialization." European Economic Review 120 (November 2019): 103319. http://dx.doi.org/10.1016/j.euroecorev.2019.103319.

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Giannetti, Caterina. "Debt specialization and performance of European firms." Journal of Empirical Finance 53 (September 2019): 257–71. http://dx.doi.org/10.1016/j.jempfin.2019.07.008.

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Ruffin, Roy J. "The gains from specialization and population size." Economics Letters 105, no. 1 (October 2009): 76–77. http://dx.doi.org/10.1016/j.econlet.2009.06.002.

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Nissan, Edward, and George Carter. "Spatial distribution of the specialization of arts." Journal of Economics and Finance 31, no. 3 (September 2007): 422–34. http://dx.doi.org/10.1007/bf02885732.

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BAI, Chong-En, Zhigang TAO, and Yueting Sarah TONG. "Bureaucratic integration and regional specialization in China." China Economic Review 19, no. 2 (June 2008): 308–19. http://dx.doi.org/10.1016/j.chieco.2006.11.005.

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Robin, Ashok J., and Hao Zhang. "Do Industry-Specialist Auditors Influence Stock Price Crash Risk?" AUDITING: A Journal of Practice & Theory 34, no. 3 (October 1, 2014): 47–79. http://dx.doi.org/10.2308/ajpt-50950.

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SUMMARY Francis (2011) calls for more research on “the effect of audit quality on economic outcomes.” We respond by examining whether high-quality auditors reduce stock price crash risk, an important consideration for stock investors. We argue that high-quality auditors reduce crash risk because of their information intermediary and corporate governance roles. Using a large sample of U.S. stocks spanning the period 1990–2009, we examine the issue empirically by using auditor industry specialization as our proxy for auditor quality. Our main finding is a statistically significant and negative association between auditor industry specialization and stock price crash risk, implying that high-quality auditors can directly benefit investors by reducing tail risk. In addition, we provide evidence that industry-specialist auditors moderate the effects of opacity, accounting conservatism, and tax avoidance on crash risk. Finally, our main finding of a negative relation between auditor industry specialization and crash risk is robust to using city-level industry specialization as an alternate measure. JEL Classifications: G19; G32; M42.

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DeFond, Mark L., Jere R. Francis, and T. J. Wong. "Auditor Industry Specialization and Market Segmentation: Evidence from Hong Kong." AUDITING: A Journal of Practice & Theory 19, no. 1 (March 1, 2000): 49–66. http://dx.doi.org/10.2308/aud.2000.19.1.49.

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Audit fees of Big 6 and non-Big 6 accounting firms are examined for 348 publicly listed Hong Kong companies. Using more recent data than prior studies, we find evidence of Big 6 premiums for both general brand name and for industry specialization. In addition, we find that the large local firm Kwan Wong Tan & Fong, which is the market leader in the property sector, has significantly lower fees than both Big 6 and other non-Big 6 auditors in that industry. Specialization thus leads to different results for Big 6 and non-Big 6 firms and suggests a market segment not previously identified: non-Big 6 specialization, which leads to production economies and the capture of market share through lower fees for a clientele seeking low-priced audits. These results also suggest that prior studies do not recognize sufficiently that Big 6 brand-name reputation is a necessary foundation on which to achieve higher priced quality-differentiated audits based on industry specialization.

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Gedminaitė-Raudonė, Živilė, Dalia Vidickienė, and Rita Vilkė. "Unused potential for Smart Specialization development through collaboration: Lithuanian case." Agricultural Economics (Zemědělská ekonomika) 65, No. 10 (October 22, 2019): 463–69. http://dx.doi.org/10.17221/98/2019-agricecon.

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Smart Specialization in this research is addressed to the use of collaboration as a tool for increasing efficiency of investment in entrepreneurship, research and innovation in a service-driven post-industrial economic system. This study provides evidence that collaboration potential is used only partly during the implementation of Smart Specialization strategy. The research illustrates given thesis by the evaluation of collaboration in Lithuanian biogas sector, which is listed among the priorities of Lithuania’s Smart Specialization strategy till 2020, using structured interviews. The main aim of this empirical research is to assess the will to collaborate in order to enhance the development of Smart Specialization and identify unused collaboration potential among all Quadruple Helix model counterparts in the biogas sector. Empirical findings show that collaboration in the Smart Specialization development has a big potential. However, this potential is used only partly because of lack of knowledge and available business infrastructure for this task and the passive role in collaboration processes of government institutions. Research findings suggest that current situation should be changed by supporting measures for business and NGOs with the aim to encourage collaborative initiatives for Smart Specialization. Research findings might serve as guidelines for policy makers, entrepreneurs, university and NGO managers.<br />

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Gamidullaeva, Leyla, Elena Korostyshevskaya, Alexey Myamlin, and Olga Podkorytova. "Exploring Regional Industrial Growth: Does Specialization Explain It?" Economies 10, no. 7 (July 19, 2022): 172. http://dx.doi.org/10.3390/economies10070172.

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Being a form of territorial division of labor, economic specialization should be considered as a strategic management priority, contributing to a competitive territorial production structure and, consequently, regional economic growth. The article is devoted, firstly, to the development of a method for assessing the level of territorial division of labor based on a new coefficient of regional economic specialization; and secondly, to the investigation of regional specialization effects on economic growth. The purpose of the to substantiate the influence of the territory specialization factor on industrial economic growth, along with other conventional factors of regional development, using econometric methods based on an extended exogenous growth model. Premised on the data from Russian manufacturing industries and using a new coefficient of regional specialization, the authors have developed and verified an original approach to substantiate the effectiveness of regional clustering for ensuring the growth of industrial output based on an extended exogenous growth model. Approbation of the proposed assessment method and verification of research hypothesis formulated by the authors have been carried out using regional statistical data of the Russian Federation for the period from 2005 to 2019. The empirical analysis results have contributed to a place-based theoretical approach, involving both the cluster concept and the concept of “smart specialization”. The practical significance of the research is to validate clustering feasibility as a form of territorial division of labor and provide a number of principles for the regional industrial policy based thereon to accelerate territorial economic growth.

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Journal articles on the topic 'SPECIALIZATION IN FINANCE'

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