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1
Tahoun, Ahmed Mamdouh. "Essays in accounting and finance." Thesis, University of Manchester, 2011. https://www.research.manchester.ac.uk/portal/en/theses/essays-in-accounting-and-finance(f9f1ad0d-fa37-4b6f-a273-809c3b68b164).html.
Повний текст джерелаАнотація:
In this thesis, I examine why there are distortions in investor portfolio selection, and show the consequence of these distortions on firms' investment decisions. The thesis consists of three essays. In the first essay, I examine the economic consequences of the mandatory adoption of IFRS in EU countries by showing which types of economies have the largest reduction in investment-cash flow sensitivity post-IFRS. I also examine whether the reduction in investment-cash flow sensitivity depends on firm size as well as economy type. I find that the investment-cash flow sensitivity of insider economies is higher than that of outsider economies pre-IFRS and that IFRS reduces the investment-cash flow sensitivity of insider economies more than that of outsider economies. Also, I find that small firms in insider economies have the highest sensitivity of investment to lagged cash flow pre-IFRS, and that they are no longer sensitive to lagged cash flow post-IFRS. Overall, my results suggest that IFRS adoption might have improved the functioning of capital markets in relation to small firms in insider economies. In the second essay, I show that the level of conditional accounting conservatism of foreign markets significantly influences decisions to diversify portfolios internationally. This could be either because conditional conservatism per se is attractive to international investors, or because the unmodelled factors that attract foreign investors to a country also cause these countries to adopt conditionally conservative accounting practices. We also find that the positive association between investor diversification decision and conditional conservatism is sensitive to the level of conditional conservatism of investors' home markets. If conditional conservatism serves to alleviate foreign investors' concerns related to insiders have asymmetric access to information then one would expect the chosen mode of entry into a foreign market (as foreign portfolio or direct investor) to be sensitive to the level of conditional conservatism. I find evidence supportive of this expectation.In the third and final essay, I document pieces of evidence suggesting that the stock ownership of politicians is a mechanism to establish mutual relations with firms. There is a positive association between the ownership of politicians and the contribution they receive from firms during the elections. This association is a function of how valuable it is to establish a mutual relation between politicians and firms. Politicians invest more in firms that favor their party and less in firms that oppose their party. The strength of the ownership-based relation with contributing firms is positively associated with the amount as well as the number of government contracts awarded to firms. When politicians divest the stock, the established relation with contributing firms breaks down. Such break-down, however, only exist when there are no other mechanisms enforcing politician-firm relation.
2
Rowbottom, Nick. "Intangible asset accounting and accounting policy selection in the football industry." Thesis, University of Birmingham, 1999. http://etheses.bham.ac.uk//id/eprint/899/.
Повний текст джерелаАнотація:
The main aim of this thesis is to evaluate the feasibility of intangible asset accounting in financial reporting with particular reference to the football industry. It also examines related accounting policies. Lack of reliable measurement is the major obstacle to the recognition of intangible assets. The measurement of intangible assets is problematic due to a lack of verification through reference to an active market. However, drawing on Human Resource Accounting, the thesis argues that identifying and measuring human resource assets may be possible in the football industry. The human resource asset, the player registration, is subject to sufficient control through unique industry structures to justify recognition as an intangible asset. The existence of an active market for player registrations facilitates reliable measurement. In the football industry, a wide variety of accounting policies are employed in accounting for player registrations and other material transactions. Hypotheses regarding the reasons for selecting particular accounting policies are developed and tested. Findings suggest that institutional pressure which influences perceptions of legitimacy and credibility can affect the selection of accounting policies. The thesis also develops and tests a model to value player registrations as intangible assets where they are not subject to market transactions. The ability to reliably measure intangible assets is regarded as crucial to their recognition in financial reporting. In addition, it will lead to the acceptance of intangible asset policies as legitimate and credible, despite the market orientated bias of traditional financial reporting.
3
Mottaghi, Aliasghar. "Accrual accounting, cash accounting and the estimation of future cash flows." Thesis, University of Sussex, 2011. http://sro.sussex.ac.uk/id/eprint/7075/.
Повний текст джерелаАнотація:
This study investigates the predictive ability of current and past cash flows with respect to the estimation of future cash flow, and compares this predictive ability with that of current and past earnings. Future cash flow is estimated in this study on the basis of a model hierarchy that initially incorporates aggregated predictors and then their disaggregated components, with the objective of improving on conventional research design with respect to the problematic issues surrounding missing values in source databases, extreme values in the sampled data and variability in fiscal year length. In determining whether the disaggregation of earnings into cash flow, accruals and their components adds to the predictive ability of cash flow, the present thesis also documents out-of-sample accuracy tests for the UK based on initial in-sample estimations, with accruals being computed using both the information in the Statement of Cash Flows and the information that may be derived from Balance Sheet changes. Using the information in the Statement of Cash Flows, the results of the in-sample estimation indicate that, whilst there is no notable difference between the ability of cash flow and aggregate earnings to predict future cash flow, the disaggregation of earnings into cash flow and accruals improves the prediction. The out-of-sample accuracy tests confirm the standard result that this disaggregated earnings model is a better predictor of future cash flow. In contrast, this thesis shows that, when using information in the Balance Sheet, by way of changes from one period to the next, the results of both the in-sample estimation and the out-of-sample accuracy tests show that disaggregated earnings is unable to outperform aggregate earnings in predicting future cash flow. Nevertheless, when the total accrual is further disaggregated into its deferral and accrual components, in-sample estimation reveals additional improvement in predictive ability, using each of the two sources of information to compute total accruals (the Statement of Cash Flows and Balance Sheet changes), although this is less evident with the out-of-sample tests. Whilst further analysis indicates that disaggregation is more informative when the firm size is large, the magnitude of accruals is low and the firm reports a positive CFO and EBIT, the thesis shows that the ability of the estimation models to predict future cash flow differs across industries in the UK, and that the findings are generally sensitive to the effect of database choice, the fiscal year length, and the identification and treatment of unrecorded data.
4
Osseiran, Ali. "Mental accounting and public choice." Thesis, University of Warwick, 2017. http://wrap.warwick.ac.uk/91705/.
Повний текст джерелаАнотація:
Evidence from the consumer behaviour literature show that people like private costs to either precede or occur at the same time as the benefits. No one wants to pay for a vacation after it has become a memory, or a dishwasher after it has gone to the tip. Likewise, no one wants to work for a salary that has already been spent. It is likely that similar preferences exist for communal expenditures. With this in mind, this thesis presents a series of studies into how ordinary citizens make (or want to make) communal financial decisions (i.e. cost-benefit trade-offs). The aim is to learn if people’s communal preferences are similar to their personal preferences; and if the prospective double-entry mental accounting model (Prelec & Loewenstein, 1998) – a well-supported theory of individual preferences – can explain these communal preferences. Eight studies (six communal and two personal) confirmed that people use similar mental rules to the ones prescribed by the double-entry model to make financial choices on a communal (and personal) level. That is, people prefer to have the communal costs to either precede or occur at the same time as the benefits; and when either is not possible, to minimise the temporal distance between the two. These preferences are observed for monetary gains and losses; for decisions that have a direct impact on the decision maker, or no impact at all; and for choices made between and within participants. These findings provide valuable insights for policy makers who are keen to design public finance policies that are efficient and have public support.
5
Lari, Dashtbayaz Mahmoud. "Cash flow accounting and the cost of debt." Thesis, University of Sussex, 2011. http://sro.sussex.ac.uk/id/eprint/7028/.
Повний текст джерелаАнотація:
The aim of this study is to examine why firms may manipulate not just their earnings but also their cash flows, and to investigate the effects of this behaviour in debt markets with respect to the cost of debt. This research addresses current concerns about accounting rules (both GAAP and IFRS) which allow companies discretion in the presentation of their operating cash flow in financial statements. Using a sample of 8,684 UK and 23,935 USA firm-years from 1998 to 2010, the reported operating cash flow is decomposed into two components, unmanaged and managed, in order to examine the association between the estimated discretionary part of operating cash flow and the cost of debt. The results show that the cost of debt has a significantly positive association with the managed component of operating cash flows. By using path analysis, it is further shown that the effect of cash flow management in increasing the cost of debt is largely through its impact on accounting quality. Also it is found that the market positively prices abnormal operating cash flow information when firms experience financial problems, especially when companies are faced with low cash flows.
6
Izadi, Zadeh Darjezi Javad. "Interim accounting earnings and price momentum." Thesis, University of Sussex, 2012. http://sro.sussex.ac.uk/id/eprint/43336/.
Повний текст джерелаАнотація:
We know that managers may use their discretion by structuring transactions that can alter financial reports in order to persuade stockholders in their interpretation of the underlying economic performance of the company. The study reported in this thesis examines such earnings discretion in the six monthly interim reports issued by listed firms in the UK, and investigates the relationship between estimates of earnings manipulation and the market pricing of the firm's shares. This is tested by examining whether managers use their discretion to sustain earnings trends in the case of ‘winner' firms, i.e. those that are in the upper range of prior returns, and likewise to keep a negative trend in ‘loser' firms, those in the lower range of prior returns. Specifically, momentum portfolios are formed based on past six-month returns and tested for differences in future six-month earnings management, as measured by discretionary current accruals in six month interim reporting periods. The results suggest that discretionary current accruals are significantly associated with past returns for winner more than loser firms, and hence that past returns may contribute to the explanation of future earnings management, the behaviour being consistent with appearing either to persist as winners or to turn losers around
7
Möllenhoff, Steffen [Verfasser]. "Three Papers in Empirical Finance and Accounting / Steffen Möllenhoff." Wuppertal : Universitätsbibliothek Wuppertal, 2021. http://d-nb.info/1228010358/34.
Повний текст джерела
8
Lorenz, Angela. "Contemporary management accounting in the UK service sector." Thesis, University of Gloucestershire, 2015. http://eprints.glos.ac.uk/4260/.
Повний текст джерелаАнотація:
This study demonstrates an original contribution to knowledge by providing a deeper understanding of management accounting practices in the context of service organisations. It explores a number of traditional and contemporary tools and their relationship to service organisations. The study focuses on the extent to which both traditional and contemporary tools are utilised in practice and also the underlying reasons why some tools become embedded in practice and the barriers and enablers of management accounting change in a service sector context. The study is explanatory in nature and uses a cross sectional survey to provide an understanding of what tools are used by service sector organisations and five in depth case studies to explore the nature of how the tools are used and the factors influencing the diffusion of new tools and the replication of existing tools. The analysis of the cases is done using Stones (2005) quadripartite framework which allows a sensitising of the data to provide insights into the external and internal structures which govern and are governed by the actions of the accountants. From the empirical research it was concluded that the management accounting practices of service sector organisations are similar to those of other organisational sectors and mainly rely upon the use of the traditional tools with limited use of the more contemporary tools. The exploration of the tools used in the case studies showed the internal structures in place which allowed the traditional tools to be embedded and replicated over time and also the external structures which when coupled with the internal structures resulted in barriers and enablers of change to the management accounting tools used. This thesis contributes to knowledge by providing a greater understanding of service sector management accounting and by the development of the strong structuration model to provide valuable insights into management accounting change and to demonstrate the continued theory practice gap in management accounting.
9
Desai, Renu V. "FINANCE AND ACCOUNTING OUTSOURCING: THREE STUDIES RELATED TO THE ETHICAL AND ECONOMIC DIMENSIONS OF ACCOUNTING OUTSOURCING." Doctoral diss., University of Central Florida, 2007. http://digital.library.ucf.edu/cdm/ref/collection/ETD/id/2174.
Повний текст джерелаАнотація:
This dissertation evaluates the economic and ethical considerations underlying the outsourcing of professional services such as finance and accounting. The dissertation is comprised of three separate, but related studies. The first study explores the adequacy of the disclosure rules recommended in the revised ethics rulings regarding disclosure of outsourcing relationships and the resulting ethical and economic repercussions for both, the AICPA members and their clients. The second study analyzes the disclosure rules recommended in the AICPA ethics rulings regarding disclosure of outsourcing relationships from an ethical standpoint. The third study adopts the perspective of the third party service provider. The third study analyzes the factors that provide a competitive advantage to leading service providers in accounting outsourcing markets in India. Taken together, these studies address issues that have not been addressed previously in accounting literature and will advance our understanding of a fast-growing phenomenon, the outsourcing of accounting services. Finance and accounting outsourcing may strongly influence the choice of future organizational form and structure thus making it important to develop an early understanding of this industry.Ph.D.
Kenneth G. Dixon School of Accounting
Business Administration
Business Administration PhD
10
Brown, Rodney John. "Essays at the intersection of taxation and financial accounting." Thesis, London School of Economics and Political Science (University of London), 2018. http://etheses.lse.ac.uk/3767/.
Повний текст джерелаАнотація:
This thesis consists of three separate chapters that explore issues at the intersection of taxation and financial accounting. The unifying theme is corporate tax avoidance and the consequences of increased transparency of tax practices on firm behaviour and financial reporting. Chapter 1 (co-authored with Chris Evans and Youngdeok Lim) examines the impact of changes to a full dividend imputation system on corporate tax avoidance. We exploit an exogenous shock to the Australian dividend imputation system which became effective on 1 July 2000 and allows shareholders to claim all imputation credits attached to dividends, even if it propels them into a tax refund position. This enhancement to shareholder’s after-tax positions likely provides stronger incentives for firms to minimise tax avoidance activities to generate valuable imputation credits for distribution to shareholders. We implement a difference-in-differences research design to examine the impact of the legislative change on tax avoidance for a variety of treatment and control groups after the change. Consistent with our expectations, we find evidence of an increase in cash effective tax rates (decrease in tax avoidance) for domestic dividend-paying firms relative to domestic non-dividend-paying firms. This finding is even more pronounced for firms paying fully-franked dividends, and the decreases in tax avoidance are economically significant. Our results are consistent with the notion that firms undertake less tax avoidance in the post 1 July 2000 period given the presence of stronger incentives for them to pay corporate tax. In Chapter 2 (solo-authored), I exploit the availability of new data to examine the impact of mandatory public country-by-country disclosures on the tax aggressiveness of European Union (EU) banks. In response to growing public and political backlash against tax avoidance, the European Parliament introduced new rules in 2013 requiring the public disclosure, on a country-by-country basis, of certain tax-related information by credit and investment firms operating in the EU. Enhanced transparency via public country-by-country-reporting (CBCR) allows greater scrutiny by stakeholders and is considered one way of increasing pressure on EU banks to pay corporate taxes that reflect their true economic presence in each country they operate in. I conduct a range of empirical tests using cash and book effective tax rates to proxy for tax avoidance and based on a hand-collected sample of 72 banks, I do not find any evidence of a reduction in tax avoidance in response to increased transparency. A similar result is found when a differences-in-differences research design is employed to test for any change in tax avoidance of EU banks relative to a control group of 39 multinational EU insurers exempt from CBCR rules. In fact, in some tests, I find that, on average, EU banks increased their tax avoidance relative to EU insurers despite increased disclosure levels. I also find that tax haven use, calculated as the proportion of turnover, profit before tax, and subsidiaries/branches disclosed in tax havens, remains largely unchanged despite increased transparency. The results suggest that mandatory public CBCR has not altered the cost-benefit equilibrium of tax avoidance sufficiently to encourage EU banks to curtail their tax avoidance practices. Chapter 3 (co-authored with Bjorn Jorgensen and Peter Pope) investigates the interplay between mandatory public CBCR, geographic segment reporting, and tax haven use. We examine whether the availability of country-level financial information impacts geographic segment reporting and the extent to which firms aggregate geographic segments. Based on a hand-collected sample of 70 banks operating in the EU, we document the location of their operations and the extent to which they operate in tax havens. We find that, on average, banks with tax haven operations enjoy significantly higher profit margins, turnover per employee, and profit per employee, and lower book effective tax rates, in these jurisdictions relative to non-tax havens. Using a difference-in-differences research design, we find no significant change in the number of geographic segments, country segments, or line items per geographic segment, disclosed in segment reporting notes after the introduction of CBCR relative to a control sample of 39 multinational EU insurers exempt from CBCR. Furthermore, we find a positive association between tax haven intensity and geographic segment aggregation consistent with the notion that EU banks may aggregate geographic segments to obfuscate tax haven activities. This early empirical evidence suggests that mandatory public CBCR has limited impact on geographic segment reporting. In sum, the three chapters of this thesis contribute to the emerging literature on the determinants and consequences of corporate tax avoidance. The findings should inform global regulators and policy makers interested in the extent of corporate tax avoidance and especially, EU policy makers currently considering the extension of public CBCR to all industries.
11
Na, Hyun Jong. "Disappearing Working Capital: Implications for Accounting Research." Thesis, The George Washington University, 2020. http://pqdtopen.proquest.com/#viewpdf?dispub=27542571.
Повний текст джерелаАнотація:
This dissertation examines the implications of technological advances on the net working capital balance of U.S. firms over the past five decades. I find that the annual mean value of the net working capital balance of U.S. firms has sharply declined, from 28.9% of average total assets in the 1970s to 6.5% in the 2010s. I also show that an increase in IT spending is associated with a reduction in net working capital balance, after controlling for alternative explanations. This real (vis-à-vis accounting) change in net working capital balance has significant implications for practical financial management and accounting research. On one hand, companies have become more efficient in managing their working capital and thus in conserving cash, leading to an increased cash savings at U.S. firms. On the other, the declining working capital balance has reduced accounting current accruals from 18.8% to 5.4% of earnings, which, in turn, has reduced the explanatory power of the Jones (1991) model from 23.7% to 3.7% and increased the correlation between earnings and cash flows from 0.689 to 0.947 over time. Such a structural change is worth noting for accounting research addressing the relationship between accruals, cash flows, and earnings.
12
Daruty, Matthew. "The Fall of the 10-K Report: Measuring the Impact of Accounting Ratios on Financial Performance." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2225.
Повний текст джерелаАнотація:
The annual 10-K report has historically been the most important aspect in assessing the position of a publicly held company. However, as the flow of information has increased with the dawn of new technologies, less and less attention has been paid to these audited financial statements. In order to assess if investors are still reacting to the information contained in the annual report, this paper examines the relationship between accounting ratios and stock price in banks traded on United States stock exchanges. By examining accounting ratios instead of simply looking at Earnings Per Share, new information was revealed regarding what aspects of the annual report investors react to. Ratios that incorporate information that is difficult to predict, such as leverage or allowance accounts were more likely to affect a stock’s performance, while those that contained information that is more readily available from other sources had less of an effect.
13
Munro, Jamie William. "Convertable debt : rationale and accounting classification." Thesis, Lancaster University, 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.337356.
Повний текст джерела
14
Zhang, Qiongyao. "CEO Compensation around Corporate Spinoffs." Thesis, State University of New York at Binghamton, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10620290.
Повний текст джерелаАнотація:
Our study examines whether CEO compensation decreases in response to the reduction in firm size after a corporate spinoff. We find overall that CEO pay decreases subsequent to the spinoff, consistent with efficiency theory. However, the decrease is driven by the pay adjustment ac- companying CEO turnover around the spinoff. New CEOs hired around the spinoff have little bargaining power in regards to their compensation and thus we observe a decline in CEO compensation around these spinoff events. The compensation of those CEOs which span the spinoff event does not decrease, consistent with the notion of CEO entrenchment.
15
Campbell, Stephen. "Permanent and Temporary Tax Avoidance as a Source of Financing| How to Succeed where the American Jobs Creation Act of 2004 Failed." Thesis, University of California, Irvine, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10827316.
Повний текст джерелаАнотація:
The repatriation tax holiday enacted by the American Jobs Creation Act of 2004 mandated that the proceeds be used for investment. However, the academic literature has found this mandate to be ineffective (Blouin and Krull, 2009). In this paper, I examine the determinants of using tax savings for investment purposes. Using the cash flow statement identity, I estimate how firms allocate permanent tax savings, temporary tax savings, and their other operating cash flows among the following uses: investment, holding as cash, or reducing debt or equity. I find that temporary tax savings are used for investment to a greater extent than permanent tax savings or cash flow from operations, and that investment levels are partially sticky after temporary savings reverse. I also find that financially constrained firms and domestic firms invest a larger portion of their tax savings than fully invested firms or multinational firms. Finally, I show that tax savings from accelerated tax depreciation are invested at a greater rate than savings from the AJCA repatriation tax holiday. My results suggest that policymakers interested in ensuring tax savings are invested should offer temporary tax savings to domestic, financially constrained firms.
16
Hart, Daphne. "Essays on the relation between accounting and employment, risk and valuation." Thesis, London School of Economics and Political Science (University of London), 2019. http://etheses.lse.ac.uk/3844/.
Повний текст джерелаАнотація:
The thesis is a collection of three separate papers on accounting consequences. Specifically, the papers examine the relation between accounting and employment, risk and valuation. The first chapter (solo-authored) documents that approximately 20% of large US public firms choose to disclose employment information quarterly, at a higher frequency than mandated by the US Securities and Exchange Commission (SEC). I use these voluntary disclosures to examine whether managers modify their firms' workforces to manage earnings. Using firm-level analysis, I find that managers alter their firms' workforce in the short-run to meet financial reporting benchmarks. I separately investigate the decision to voluntary disclose employment information more frequently than mandated by the SEC. I show that providing quarterly employment disclosures is associated with managerial myopic behavior. Overall, in the first chapter I present evidence that more frequent disclosures of workforce information provide valuable insights into firm operations and managerial decisions. I demonstrate that financial measures may govern decisions regarding real resource allocations, specifically, the firm's workforce size. The second chapter (co-authored with Brian Burnett and Paige Patrick) investigates the effect of adopting more principles-based standards on litigation risk. A common perception is that principles-based accounting standards, such as International Financial Reporting Standards (IFRS), allow for more managerial discretion over financial reporting. This suggests that adopting principles-based standards may alter the litigation risk exposure of companies and their directors and officers. We study changes in litigation risk in Canada following IFRS adoption in 2011. Canada switched its reporting standards from Canadian Generally Accepted Accounting Principles (GAAP) to IFRS, which is considered more principles-based. We examine the effect of IFRS adoption on litigation risk using two established proxies for litigation risk: Directors' and Officers' (D&O) liability insurance, which Canadian firms are mandated to disclose, and excess cash holdings. We document that more principles-based accounting standards reduce litigation risk and provide evidence for a benefit of adopting such standards, in the form of lower insurance premiums. The third chapter (co-authored with Bjorn Jorgensen) develops an accounting-based valuation model for an economy with multiple firms and demonstrates the effect of crossholdings on firms' prices. We illustrate how market values appear distorted when firms have mutual minority interest equity investments. We discuss possible empirical implications for valuation of multiple firms and articulate why corporate equity investments may distort firms' market-to-book ratios. Overall, we show how the accounting treatment for corporate equity investments may alter prices and provide theoretical predictions regarding the mechanism and magnitude of these distortions. We also model linear information dynamics in a setting with multiple firms, allowing for inter-firm information transfers for firms with and without crossholdings. Our analysis illustrates how inter-firm accounting information shape prices. Moreover, we describe possible implications of our model for firms that exhibit variation in reporting dates or reporting frequency.
17
Owen, Aneirin Sion. "The political economy of the accounting firm." Thesis, University of Warwick, 2010. http://wrap.warwick.ac.uk/3396/.
Повний текст джерелаАнотація:
The aim of this thesis is the development of a political economy of large accounting and auditing firms. The importance of this lies in the rapid growth of these firms and the lack of appropriate theories. Economists have applied the theory of the firm to accounting and have approached auditing from agency and litigation costs perspectives, while sociologists have studied the culture of accounting firms and approached auditing using concepts such as ‘legitimation’ and ‘jurisdiction’. These approaches do not recognise that to do justice to the subject matter, we must study accounting firms in the broader context of accounting and its many conceptual and practical problems. These include the conceptual framework, auditor independence, the audit expectations gap, creative accounting, and fraud. To study the accounting firm within the context of accounting the thesis develops a political economy approach that emphasises conflict between investors, managers, workers, and the state. This approach proves helpful because it encompasses all accounting and auditing problems within a framework that recognises agency and links together the profits of accounting firms with their legitimation. The method adopted is the development of a theory of the profits of accounting firms and a model of factors driving auditor independence. Following Bryer, the thesis develops the theory from Marx’s Capital by combining his analyses of ‘bookkeeping’ and ‘commercial capital’. The theory highlights that as capitalist enterprises accounting firms compete with all other capitalist firms for a share of surplus value, as well as competing with other accounting firms. However, the political economy approach also highlights the essential contradiction in accounting: that measuring and disclosing profits can exacerbate the ‘labour danger’. The provocative character of accounting means that disguise of profits is part of its nature, but that this must co-exist with the contradictory need for accurate, objective measurement of profits. The model therefore suggests that the role accounting firms play in disguise is the key to understanding their behaviour. It predicts that as the level of profits and labour militancy rises, so do investors’ demand for disguise. However, because investors need disguise, auditors cannot have full independence, and the thesis concludes that this explains why auditing is within the private sector. Its general conclusion is that rather than being a principle, auditor independence is a variable driven by investors’ needs and the capitalist tactics of accounting firms. The thesis derives and tests two behavioural predictions. First, that accounting firms will exhibit the same types of behaviour as other capitalist firms. Second, the auditor does not act independently. The thesis tests these predictions with evidence of accounting firms’ mergers and profit margins (1986 to 1995), the changes introduced in the US to increase auditor independence (2001 to 2003), and the change to limited liability partnership status (2004 to 2007) in the UK. The high levels of profits disclosed by the LLP accounting firms and the close relationship between mergers and profit margins support the hypothesis that accounting firms adopt capitalist tactics. The wide-ranging debates (1995 to 2005) and changes to auditor independence rules introduced by SEC and Sarbanes-Oxley support the hypothesis that claims of auditor independence are untrue, and that the level of audit independence is a variable. The thesis proposes further development of the theory through historical research and formalising the model.
18
Garcia, Roberto C. "An Accounting Solution to The Public Pension Crisis." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/890.
Повний текст джерелаАнотація:
Roughly 40 million American active and retired workers are covered by local, state or federal pension systems. The most recent financial crises has caused many of these pension systems to go up in flames, leaving politicians and economists puzzled as to where the money to pay off their future pension liabilities will come from. To add to the nightmare situation, we can expect the retirement of the baby-boomers over the next decade to exacerbate the conflagration. With less contributions coming in from the reduced number of active public employees, and more to pay out to retirees, many localities and states find themselves in the middle of the fire. This issue finds itself at the crossroads of politics, labor economics, accounting, and finance, and it will take a full-fledged effort from parties within all these fields to correct the mistakes of the past. The aim of this paper is to zero-in on the origins of this dilemma, diagnose the situation we find ourselves in today, and prescribe a solution or number of solutions to implement in the near future. To accomplish this, I will examine accounting standards, legislation, public policies, and labor demographics and attempt to provide insight as to how all of these affect the state of public pension plans. To this date we have already seen the effects pensions can have on governmental entities and it is important that people act now to prevent this issue from growing more widespread.
19
De, Jager Phillip. "Fair value accounting in South African banks : financial stability implications." Doctoral thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/15568.
Повний текст джерелаАнотація:
This article-based thesis consists of three main papers that examine the use of fair value accounting in banks and how it can influence behaviour with systemic effects; this helps in understanding the role of fair value accounting in the global financial crisis. The examination consisted of two parts. The first part was the investigation of how fair value accounting was actually used by South African banks. The second part was the development of an analytical model that links together fair value accounting, bank capital regulation and economic outcomes. The South African case study was further divided into two parts. In the first part, a comparative design was used to investigate in detail how fair value accounting was implemented by two South African banks and what their motivations were. The second part sought to answer the question: did South African banks pay out higher dividends based on risky fair value accounting gains? The South African evidence indicates that fair value accounting materially impacts the profit and loss and the regulatory capital of banks. This component of regulatory capital proved to be risky. Dangerous pay-outs resulted from the increase in profits and bank assets grew the most during the period of risky capital formation. It was found that the use of a stock-flow consistent model of the economy was a commonality amongst those that predicted the global financial crisis. A stock-flow consistent model was shown to be descriptive of the South African evidence. The model showed fair value accounting to be at the centre of feedback processes that can weaken the banking system during the economic upswing. The study concludes that fair value accounting is central in processes that weaken the banking system during an economic upswing and thus demonstrates why the current call for prudent accounting in banks is justified. The study expands on current literature in a number of ways. It adds to the literature that fair value accounting is procyclical by demonstrating that this effect is not constant throughout the cycle and is more problematic during the upswing; this differs from the usual argument that fair value accounting accelerates the downturn. The South African empirical evidence showed that fair value accounting for available-for-sale assets is not the only avenue for fair value accounting to be dangerous; fair value accounting adjustments through profit and loss should also be monitored. The analytical model as well as the South African empirical evidence contradicts the common argument that the fair value measurement of financial instruments must be pervasive in a bank and banking system to be dangerous. The South African empirical evidence shows that fair value accounting must be considered a possible avenue of earnings or capital management in banks.
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Kayed, Metwally Ahmed El-Sayed. "Accounting regulation in Egypt in relation to western influence." Thesis, University of Hull, 1990. http://hydra.hull.ac.uk/resources/hull:3112.
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Mohamed, Abeer Abdulmoniem. "A proposed strategic management accounting model for profitability : an empirical study." Thesis, University of Gloucestershire, 2010. http://eprints.glos.ac.uk/3238/.
Повний текст джерелаАнотація:
This thesis concerns strategic profitability management. The emergence of strategic management accounting has created a growing need for companies to discover the key factors that affect profitability and then to understand how these factors should be managed. To fulfil strategic management accounting requirements necessitates the use of appropriate strategic management accounting techniques. However, the traditional profitability system is inappropriate to meet the task. In addition, there has also been a lack of attention paid by researchers to the study of the integration between the most important drivers affecting profitability (cost, assets, and revenue). Moreover, there has inadequate Investigation of the management of each driver using strategic management accounting techniques. Therefore, this study attempts to create a new model for managing profitability to fulfil the requirements of strategic management and to evaluate the perceptions of managers related to the influence of such a new proposed model on profitability. A broadly positivist View, which utilizes both deductive reasoning coupled with a quantitative approach, was employed to create the profitability model. The creation of profitability model is enacted through an exploratory study. In order to create the profitability model, this thesis proposes three models for managing the key profitability drivers (cost, assets and revenue). The building of these models is based on the determination of the most important factor (driver) and approach that affect profitability in each model's case. In the light of such determination, strategic management accounting techniques were proposed to manage each driver in each model. The comprehensive profitability model is also proposed using the measurement levels of the cost, assets and revenue models. Models were tested in the Egyptian communication and information technology sector. A self-administrated questionnaire delivered and collected by hand was used to examine the hypothesized relationships. A total of 190 valid responses were used for quantitative analysis. The hypotheses related to the components of all the proposed models were examined via non-parametric measure of association, Spearman's rho technique and ordinal regression technique. The study found that there is a positive association between each proposed driver in the cost, assets, and revenue and profitability models. It also found that there is a positive association between each proposed approach in the assets and revenue model, and profitability. The main conclusion of this thesis was that the profitability model, which contains the measurement levels of the cost, assets and revenue models, is the most appropriate model because its predictors are most strongly associated with the profitability. The findings of this study can be generalized to the Egyptian ICT sector's members. In addition, the generalization of findings beyond the Egyptian ICT sector should be made with caution.
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Sato, Braxton. "Management Accountants, Risk Management, and Effective Communication." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/324.
Повний текст джерелаАнотація:
This paper seeks to explain the frameworks that the risk accountant likely operates in. It begins with a discussion of risk in the business context. Then the paper examines existing frameworks in light of the work of management accountants. The paper looks more closely at the tools the management accountant has at his disposal to identify, assess, and communicate risk as well as issues surrounding the use of these tools such as the calculative culture of the firm and biases in risk perception. It is meant to be useful to academics pursuing future research in risk accounting and also to management accountants in risk management.
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Wyatt, Anne. "Financial analysts and intangible assets." Melbourne, Vic. : University of Melbourne, Dept. of Accounting and Business Information Systems, 2002. http://wff2.ecom.unimelb.edu.au/accwww/research/papers/0204%20AWyatt&JWong.pdf.
Повний текст джерелаАнотація:
"June 2002" Includes bibliographical references: (p. 30-35). The papers examines the association between the transparency of corporate financial reporting on intangible assets relative to a proxy for total intangible assets, and analyst incentives to follow firms and properties of analysts' earnings forecasts - controlling for endogeneity among these factors. More transparent financial reporting on intangible assets is measured by higher recognition of intangible assets on the balance sheet relative to a proxy variable for total (underlying) intangible assets, market value added which equals equity market value minus book value with intangible assets subtracted. The results suggest (1) a reputation for transparent financial reporting on intangible assets is associated with increased demand for analyst research and thus analyst following incentives; and (2) a reputation for less transparent reporting on intangible assets is associated with higher forecast dispersion and errors due to analysts' greater reliance on their own private information. The study extends research on determinants of analyst following, forecast dispersion and accuracy, and research on the impact of public disclosure on private information acquisition activity.
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Wong, K. K. "The prospect of computer financial packages in Hong Kong /." [Hong Kong : University of Hong Kong], 1987. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12361239.
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Jouan, Jean Karl. "Financial liberalisation in Mauritius and the finance-growth nexus." Thesis, Edinburgh Napier University, 2005. http://researchrepository.napier.ac.uk/Output/3598.
Повний текст джерелаАнотація:
The purpose of the thesis is to explore the empirical relevance of the theory of financial liberalisation in the Mauritian context. After confronting the conflicting views in the literature, the changes that have taken place in the financial sector in terms of monetary policy and the institutional developments are examined. The study shows that government has played a role in boosting financial intermediation before liberalisation and that it has still a role to play after liberalisation. It also explains the measuresta ken to improve financial stability. The high concentration in both the banking and insurance sectors are also discussed. The thesis finds no evidence of an increase in real interest rate after liberalisation or any consequential improvement in domestic savings as suggested by the liberalisation theories. Further external liberalisation has not led to a drop in real interest rate and increased savings. Some minor episodes of banking and stock market crises have been identified. The research also examines the links between interest spread after liberalisation, fund cost and market share and the results tend to support the proposition that there is unidirectional causality from market share to interest spread. No significant change in share market size, liquidity and activity has been observed after liberalisation and the collective investment schemes have not yet indicated signs of ability to considerably mobilize savings and hence to boost the security market. There is evidence of a slow down of the financial deepening process as the liquidity ratio M2 Y exceeds 65%. Financial deepening is not found to be positively i related to real interest rate. This applies not only to Mauritius but equally to some other countries of the region. Although the evidence does not support the McKinnon and Shaw predictions concerning interest rate and mobilization of savings, yet there has been freer access to credit after liberalisation and the study has shown that private sector credit as a share of GDP is positively related to economic growth and that there is bidirectional causality between them. With respect to corporate financing the study shows that the behaviour of listed firins is consistent with the pecking order theory of finance and that the listed companies are now more sensitive to external financing for the acquisition of physical investment, in relation to their internal growth strategy.
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Ip, Chi Kuan. "Implications of reforms on Chinese accounting practices." Thesis, University of Macau, 2006. http://umaclib3.umac.mo/record=b1636229.
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Jones, Ambrose. "Antecedents and consequences of lifestyle choice in public accounting /." Available to VCU users online at:, 2007. http://hdl.handle.net/10156/1770.
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Weiss, Susan F. "Implications of Executive Succession Upon Financial Risk and Performance." ScholarWorks, 2011. https://scholarworks.waldenu.edu/dissertations/958.
Повний текст джерелаАнотація:
Executive replacements have historically created fluctuations in the market value of a company and precipitated inappropriate investor reaction. However, the direction and statistical significance of relationships between executive turnover, market value, financial risk, and investor reaction among a census of highly performing firms was previously unexplored. The purpose of this study was to determine the extent of the relationship between CEO turnover and indicators of company performance. Theoretical foundation for this study was the efficient markets hypothesis. Hypotheses tests were designed to support an ex-post facto research methodology for pre-post comparison of volatility of financial metrics, which are indicators of market value (market value added), investor reaction (Tobin's q), risk (beta), executive performance (economic value added and return on assets), and turnover frequency given CEO succession. Statistically significant differences in firm risk emerged from comparisons of highly performing firms exemplified in the foundational leadership text Good to Great. Approximately 45 % of firms sampled did not experience volatility of financial metrics, which supported the presence of a leadership legacy, or strategic management behavior which minimized financial risk. Contrary to prior studies, financial metrics sampled within an interval immediately surrounding the succession event were less indicative of significant financial risk as compared to metrics sampled over the entire tenure of executives. Implications for positive social change include reducing investor risk in selection of equity holdings; capital fairly directed to entities results in benefits for society including job creation, economic stimulus, safer retirement accounts, and corporate sustainability.
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Khansalar, Ehsan. "The consistent estimation of future cash flow and future earnings : a predictive model with accounting double entry constraint." Thesis, University of Sussex, 2011. http://sro.sussex.ac.uk/id/eprint/7402/.
Повний текст джерелаАнотація:
In empirical financial accounting research, there continues to be a debate as to what the best predictors of future earnings and future cash flows might be. Past accruals, earnings and cash flows are the most common predictors, but there is no consensus over their relative contributions, and little attention to the underlying accounting identities that link the components of these three prominent variables. The aim of this thesis is to investigate this controversy further, and to apply an innovative method which yields consistent estimations of future earnings and cash flows, with higher precision and greater efficiency than is the case in published results to date. The estimation imposes constraints based on financial statement articulation, using a system of structural regressions and a framework of simultaneous linear equations, which allows for the most basic property of accounting - double entry book-keeping - to be incorporated as a set of constraints within the model. In predicting future cash flows, the results imply that the constrained model which observes the double entry condition is superior to the models that are not constrained in this way, producing (a) rational signs consistent with expectations, not only in the entire sample but also in each industry, (b) evidence that double entry holds, based on the Wald test that the estimated marginal responses sum to zero, and (c) confirmation of model improvement by way of a higher likelihood and greater precision attached to predictor variables. Furthermore, by then using an appropriately specified model that observes the double entry constraint in order to predict earnings, the thesis reports statistically significant results, across all industries, that cash flows are superior to accruals in explaining future earnings, indicating also that accruals with a lower level of reliability tend to be more relevant in this respect.
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Pan, Lee-Hsien. "Two essays on dividend policy, managerial compensation, and corporate governance." Related electronic resource: Current Research at SU : database of SU dissertations, recent titles available full text, 2009. http://wwwlib.umi.com/cr/syr/main.
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Kiriukhin, Oleg. "Accruals Quality and Firm Value." Thesis, The University of Chicago, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10817494.
Повний текст джерелаАнотація:
I examine the importance of the properties of accounting information to equity investors by estimating the implicit prices of accruals quality and operating volatility revealed from observed stock prices. I measure accruals quality parameters based on the model in Nikolaev [2016], which separates the volatility of accounting error from the volatility of the performance component of accruals. I use the hedonic regression approach, which relies on rational expectations (Bajari et al. [2012]) to identify the effect of accruals quality on firm value. This approach isolates time-varying unobservable factors correlated with accruals quality. My findings indicate that investors have preferences for higher accruals quality. At the margin, a 1% increase in the volatility of accounting error results in a 0.50% decrease in the firm value. At the same time, my findings indicate that investors have preferences for lower operating risk, which statistically and economically dominates preferences for accruals quality. At the margin, a 1% increase in the operating volatility results in a 1.43% decrease in the firm value. Overall, my findings suggest that the effect of accruals quality on firm value is largely driven by the operating risk. This result is robust to the choice of the model of time-varying unobservable firm characteristics and to different sets of control variables.
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Garner, Jeffrey Lee. "Forensic Detection for Earnings Management in Selected Code Law Nations of Europe." Thesis, Walden University, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10932861.
Повний текст джерелаАнотація:
This study investigated earnings management in European firms. The private investors became victims of manipulated earnings where few laws offered regulatory oversight. The study forensically examined the attributes of earnings management identified using a discretionary accrual model published in Jones’ work and Schippers’ work. The firms’ managers should fulfil agency theory when they made reporting decisions, and they should act in the investors’ best interests to fulfil stewardship theory. The managers failed as they seemed to favor insiders when they reported manipulated earnings to outsiders like small investors even though the managers published financial reports conforming to the International Financial Reporting Standards. The investors depended on the decision usefulness of the reports. The study used the data of 432 listed firms in 11 code law nations. The paired t test identified significant differences between reported and economic earnings to find earnings management attributes and between economic and restated earnings to find earnings management cases. The research found that managers seemed to manipulate discretionary accruals to misstate earnings and reduce the decision usefulness of reporting. The data came from published financial reports and databases. The firms represented 11 nations and 9 industries that excluded banking and insurance. Almost 17% of nations and industry segments reflected earnings management attributes. About 29% of firms restated at least one annual earnings, and 84% of the restatements appeared to offset manipulation. The research results should prompt social change for small investors where regulators would redress the manipulation using stronger investor protection laws to improve the reported earnings quality and its decision usefulness.
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Makaya, Martin. "The value relevance of accounting measures based on international financial reporting standards (IFRS) before, during and after hyperinflation period in Zimbabwe." Master's thesis, University of Cape Town, 2018. http://hdl.handle.net/11427/27999.
Повний текст джерелаАнотація:
This study examines the value relevance of International Financial Reporting Standards (IFRS) based accounting measures for the periods before, during and after hyperinflation in Zimbabwe. The study uses a sample of 30 listed companies for the entire period from 1996 to 2013. It uses the fixed effects (FE) technique to examine the value relevance of IFRS based accounting numbers using the price model as the main tool for analysis and thereafter, the returns model as an additional tool for further analysis to this study Using the price model, the results show that IFRS based accounting measures in the form of earnings per share (EPS) and book value of equity per share (BVPS) are more value relevant before and during the hyperinflation periods relative to the after-hyperinflation period using the share prices 4 months after year end as proxies for firm value. The results also show that EPS is more value relevant before and during the hyperinflation period where as BVPS is not. The results further show that both EPS and BVPS are not value relevant for the period after hyperinflation when share prices 4 months after year end are used in the analysis. Further tests under the price model show no change in the conclusions reached if share prices 5 and 6 months after year end are used. Furthermore, tests based on a year on year analysis show that IFRS based accounting measures were more value relevant before and during the hyperinflation period relative to the after the hyperinflation period. In addition, for the period during hyperinflation, the year on year analysis shows that the EPS measure was value relevant for all the years while the BVPS was not for the years 2003 and 2005. A further test on whether historical cost IFRS based accounting measures are more value relevant than inflation adjusted IFRS based accounting measures (used in the main analysis) was also conducted for the period during hyperinflation (i.e. 2000-2005 only). The results based on this analysis show that both historical cost and inflation adjusted IFRS based accounting measures are value relevant during a hyperinflationary period irrespective of whether share prices 4, 5 or 6 months are used as proxies for firm value. Thus, this finding shows that historical cost and inflation adjusted accounting information should be used as complements and not as substitutes for each other. Using the returns model under additional analysis, the results further show that the accounting measures were more value relevant before and during the hyperinflation periods relative to the after-hyperinflation period. The results also show that EPS was value relevant before and during hyperinflation irrespective of whether share returns 4, 5 or 6 months after year end were used in the analysis. In addition, further tests based on the returns model show that both historical cost and inflation adjusted sets of accounting measures are value relevant for share valuation purposes during the hyperinflation period. This finding confirms that both historical cost and inflation adjusted accounting measures are value relevant and thus should be used jointly.
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Tsatsire, Israel. "An investigation of the municipal credit control policy, with special reference to the Nelson Mandela Metropolitan Municipality." Thesis, Port Elizabeth Technikon, 2001. http://hdl.handle.net/10948/67.
Повний текст джерелаАнотація:
In this mini-dissertation, an investigation of the municipal credit control policy, with specific reference to the Nelson Mandela Metropolitan Municipality was undertaken. The dissertation comprises six chapters. The study is based on the assumption that the existing credit control policy currently (2001) used by the Nelson Mandela Metropolitan Municipality to collect service arrears has failed and that this failure is the reason why the Municipality is struggling to survive financially. This is affecting the rendering of services. The validity of this assumption was investigated. The primary objectives of the research included, inter alia, to provide a brief theoretical background on the transformation of local government in South Africa. This was followed by an investigation of the role of South African local government and the impact of non-payment for municipal services, with specific reference to the Nelson Mandela Metropolitan Municipality. The empirical survey, the research methodology and the interpretation of the research findings are described. This is followed by an explanation of the survey questionnaire used for the accumulation of data needed for the analysis. The research findings of the empirical survey were statistically analysed and reported.
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Hadori, Yunus Richard J. "External financial reporting in Indonesia and its implications for accounting development." Thesis, University of Hull, 1992. http://hydra.hull.ac.uk/resources/hull:5347.
Повний текст джерелаАнотація:
The objective of this research is to explore the area of financial accounting, international accounting, and accounting technology transfer, with emphasis on accounting for developing countries, specifically Indonesia. Confining itself to external financial reporting, the study explores the influence of environmental aspects on accounting standards and practices, institutionally and technically. Analysis of the role and needs of preparers, users, auditors and government agencies, and of the interaction between institutional and technical aspects, conducted to ascertain their implications for accounting development in Indonesia. The empirical research was conducted using hypotheses as catalysts, to test the characteristics, general opinions and attitudes of the interested parties toward accounting standards and practices, accounting education and development of the accounting profession. The findings of the research suggest that accounting technology cannot be successfully transferred from a developed to a developing country without considering the influence of environment, particularly the role of government. Indonesia, heavily influenced by the US accounting, needs to improve its accounting system in order to make it appropriate for its own environment. Many deficiencies were found in the areas of accounting theory, accounting standards and practice, accounting rules and regulations, accounting education, professional accounting and the role of government. In order to improve the existing conditions, it must be recognised that those aspects are closely related, and that the only way to develop the role of accounting is to adopt an integrated approach. The study provides a series of recommendations, based upon the findings of the empirical research, which should provide a useful starting point towards such an approach.
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Jorge, Susana Margarida Faustino. "Local government accounting in Portugal in comparative-international perspective." Thesis, University of Birmingham, 2003. http://etheses.bham.ac.uk//id/eprint/99/.
Повний текст джерелаАнотація:
Local government accounting in Portugal has been through a radical transformation since 1999. As additions to the traditional cash-based budgetary accounting, the system now includes accrual-based financial accounting and reporting, as well as cost accounting. The keystone for the changes was the Chart of Accounts for Local Government, issued in 1999 as a consequence of a wider reform process (comprising administrative, financial management and accounting issues) started in 1990 for the whole Portuguese Public Administration. This thesis describes how the Portuguese local government accounting system currently works, specifically addressing budgetary, financial and cost accounting techniques. Using Lüder’s Financial Management Reform Process Model, it also explains the current innovations in the Portuguese governmental accounting, and presents the context within which the reforms have been taking place. The same framework is used to predict the conduciveness to future developments, providing some insights into the probability of further reforms. Finally, it offers an inductive theory of Portuguese local government accounting in comparative-international perspective, in comparison with the United Kingdom. In the process, this shows that, despite the similarities in the form and content of the reports produced, differences still remain as to their aims and purposes.
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Esekow, Jeremy. "An exploratory study of behavioural finance insights in the Small, Medium and Micro-Enterprise creditworthiness assessment process." Doctoral thesis, University of Cape Town, 2011. http://hdl.handle.net/11427/10454.
Повний текст джерелаАнотація:
Financial institutions are often reluctant to lend to smaller entrepreneurs due to perceived information asymmetry and lack of available collateral. At the nascent and new entrepreneurial levels, it is generally more difficult for loan applicants to provide the information required to secure the necessary funds. Inadequate financial information coupled with uninformative credit histories heighten the information opacity thus diminishing the entrepreneur's prospects of securing loan funding. Viable entrepreneurial projects may therefore remain unfunded largely due to uncertainty rather than riskiness. This study therefore highlights the creditworthiness assessment process and seeks to address the information opacity problem by looking to alternative sources of entrepreneurial information that may aid the loan officer.
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Nichols, Nancy Brown. "Earnings Management and the Independence or Interdependence of Accounting Choices: the Decision to Adopt Mandated Accounting Changes." Thesis, University of North Texas, 1997. https://digital.library.unt.edu/ark:/67531/metadc277774/.
Повний текст джерелаАнотація:
This research examines whether firms managed earnings in the year they adopted SFAS 109, Accounting for Income Taxes (or its predecessor SFAS 96), by combining the choice to adopt SFAS 109 with other accounting choices in an interdependent rather than independent manner. Prior literature generally analyzes only one specific accounting choice, assuming that the decision is independent of other accounting procedure choices. However, it is unlikely that managers act in this manner. When attempting to achieve certain income goals, managers have numerous accounting tools available to them including the choice of accounting procedures and the exercise of judgment as to accrual amounts. This study investigates five choices consisting of: (1) the adoption of SFAS 109/96; (2) the adoption of SFAS 106; (3) the reporting of a restructuring of operations and/or a write-down of assets; (4) the reporting of asset sales; and (5) the choice of discretionary accruals.
The study adopts both a portfolio and joint decision approach. The portfolio approach combines the earnings effects of the five choices into a single dependent variable and tests income smoothing, big bath, and debt hypotheses. The joint decision approach utilizes simultaneous equation methodology to investigate the interdependence of the five choices and the independent variables.
The portfolio approach findings provide evidence that firms used the combined effect of the five accounting choices to smooth income in the year they adopted FAS 109/96. The results also provide support for the debt hypothesis but do not support the big bath hypothesis. The joint decision approach findings provide evidence that firms jointly determined at least two of the five accounting choices. The strong support for the income smoothing hypothesis under the portfolio approach combined with the joint significance of the individual accounting choices in the simultaneous equations suggests that firms use a multitude of accounting choices to manage earnings and that some of those decisions are made jointly, not independently.
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Eller, Lorna Jane. "Accounting and management interrelationships in local government in New Zealand and Scotland at the end of the twentieth century." n.p, 2003. http://ethos.bl.uk/.
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Li, Dan. "Auditor tenure and accounting conservatism." Diss., Available online, Georgia Institute of Technology, 2007, 2007. http://etd.gatech.edu/theses/available/etd-06262007-165211/.
Повний текст джерелаАнотація:
Thesis (Ph. D.)--Management, Georgia Institute of Technology, 2008.Mulford, Charles, Committee Member ; Schneider, Arnold, Committee Chair ; Comiskey, Eugene, Committee Member ; Church, Bryan, Committee Member ; Basu, Sudipta, Committee Member.
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Nwabueze, John Chidi. "Strategies to Sustain Small Accounting Businesses for Longer Than 5 Years." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7172.
Повний текст джерелаАнотація:
Small businesses represent over 99% of all United States businesses and are engines of economic growth and job creation. In 2018, the Small Business Administration estimated that a total of 30.2 million small businesses employed over 58.9 million workers. Small businesses are known to face significant challenges, and most fail within 5 years of startup. The purpose of this multiple case study was to explore strategies that owners of small accounting businesses used to sustain their organizations for longer than 5 years. The population in this study consisted of 5 owners of small accounting businesses in Michigan. The conceptual framework for the study was human capital theory. Data were collected through face-to-face, semistructured interviews and review of documents. The analysis of collected data yielded themes that included market research and competitive analysis, excellent customer service, passion for accounting and arduous work, and retention of skilled and competent employees. The findings of this study may be applied to bringing about positive social change by enhancing small business owners' competence and promoting business growth. Additionally, the use of the results of this study may promote economic activities and sustainability by stimulating job creation and reducing unemployment.
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Baddevithana, Tanuja Dulmini Dominick Mahinda. "Bank regulation implications for managing accounting quality risk : a basel and IFRS perspective." Thesis, University of Greenwich, 2012. http://gala.gre.ac.uk/11944/.
Повний текст джерелаАнотація:
This thesis examines whether accounting quality, measured as the difference between accounting and market price change, had an impact on the five primary UK banks that adopted IASB’s IFRS accounting standards in 2005. The findings reveal that the changes in accounting standards resulted in the banks experiencing decreased levels of accounting quality and increased levels of exposure to financial distress risk in the period 2005 to 2008, compared to the pre-adoption period of 1992 to 2004. These findings are corroborated when examining a secondary sample of banking related firms that also adopted the same standards in 2005. A control group that did not adopt these standards exhibited an opposite trend, recording a comparative increase in accounting quality from 2005 to 2008. For all firms tested, the 1-day market price Value-at-Risk (VaR) levels increased year-on-year from 2005 to 2009, with VaR breaches during March and May 2006. These firms, for the 2005 to 2009 period, also displayed increased levels of financial market volatility. Importantly, examining the banks’ Basel capital requirements, it is implied that their levels increased after 2005. These findings, in general, contribute to extending literature that focuses on the accounting standards change. One of the findings from this examination is that contrary to the European Commission’s 2002 (EC 2002) and IASB’s (IASB 2009) expectation to strengthen the efficient functioning of the European and global financial markets, in the UK the banking sector’s investor uncertainty increased significantly during 2005 to 2009. Another finding relates to the measurements applied in this research. Changes in accounting quality and the Basel minimum capital requirement are examined by applying two measures systemised as the relative delta and the regulatory relative delta respectively. Both function by quantifying differences between accounting totals and market price. It is discovered that these measures, accounting VaR, and the technology framework, as introduced in this study, have potential benefits and regulatory implications. These are aimed at facilitating the mitigation of risks that impact on accounting quality.
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Au, Chung-man Johnsman, and 歐中民. "The development of value for money auditing in the public sector in Hong Kong: problems and issues." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1993. http://hub.hku.hk/bib/B31964217.
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Caruana, Josette. "The reform of central government accounting in Malta." Thesis, University of Birmingham, 2014. http://etheses.bham.ac.uk//id/eprint/4835/.
Повний текст джерелаАнотація:
Lüder's Financial Management Reform Process Model (2002) is used to analyse and explain the context of the accounting reform process at the central government of Malta, thus introducing Malta in the field of Comparative International Governmental Accounting Research (CIGAR). Organisational Theory that underlies this model is referred to when discussing its limitations. The qualitative research methodology required a set of interviews with actors involved in the reform process, supported by documentary research. The governmental accounting reform process in Malta is described in two phases: the environment of the first phase is assessed as conducive to change; in the second phase, stronger forces at macro level reduced this conduciveness. The long-winding reforms at central government level in Malta may only be illusory because once the statistical reporting requirements for Eurostat were achieved, the reform concept changed. The findings confirm the centrality of the budget in government accounting. The decision by the Maltese Government to adopt International Public Sector Accounting Standards (IPSAS) does not appear to be well-informed and appears based on the quest for credibility. The objective of the European Union (EU)'s interest in IPSAS is also questioned since these financial reporting standards do not give budgeting particular importance, and reporting to the EU by member states is already harmonised through the ESA95.
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Coda, Stefano. "Business combinations and group of companies : perspectives from accounting, law and corporate finance." Thesis, Paris 1, 2018. http://www.theses.fr/2018PA01E072.
Повний текст джерелаАнотація:
Dans le cadre général des regroupements d'entreprises et des groupes de sociétés, cette thèse porte sur des questions d'intérêt à la croisée de la comptabilité, du droit (notamment les dispositions légales et la réglementation comptable) et de la finance d'entreprise. En ce qui concerne la théorie comptable, le chapitre 2 étudie comment les chercheurs en économie d'entreprise ont compris les groupes d'entreprises, les comptes de groupe et le processus de leur préparation, en particulier par rapport aux juristes italiens. Ensuite, le chapitre 3 reconstruit le processus politique et législatif qui a engendré la naissance du concept de groupe de sociétés dans le corpus juridique italien.Concernant le droit et la politique comptable, une analyse comparative est effectuée au chapitre 4qui montre clairement l'évolution de la notion de contrôle et de son utilisation dans les comptes consolidés (comptes de groupe) et les regroupements d'entreprises (I) en droit européen, (II) selon les normes comptables internationales publiées par l'IASB (International Accounting Standards Board) et (III) par rapport aux principes comptables généralement admis aux États-Unis («USGAAP»). De plus, les chapitres 5 et 6 étudient les effets du lobbying sur les normes comptables concernant les états financiers consolidés et les regroupements d'entreprises publiés par l'IASB. Fait intéressant, les résultats concordent avec une forme de capture du normalisateur comptable international par une catégorie d'institutions financières. En effet, confrontées à un modèle de consolidation prétendument basé sur le contrôle, ces dernières ont plaidé en faveur d'une exception de consolidation fondée sur un modèle de propriété et documentée comme ayant été proposée par les sociétés d'audit américaines dans ce contexte au moins depuis 1995. Ce modèle s’avère avoir trouvé un terrain fertile au sein de l'IASB. En conséquence, d'autres catégories d'institutions financières,telles que les fonds d'investissement à long terme et ceux gérés par une famille tout en préférant un modèle de consolidation différent, ne sont plus autorisées à présenter des états financiers consolidés. En ce qui concerne la finance d’entreprise, le chapitre 7 analyse les implications de différentes décisions de financement dans un nouveau échantillon de fusions et acquisitions entre institutions financières (banques et assurances) consommées dans le monde entier au cours des deux dernières décennies. En particulier, il étudie (I) la relation entre la méthode de choix de paiement (si le prix est payé en cash, en actions ou une combinaison des deux) et le choix du mode de financement d'un regroupement d'entreprises (y compris les instruments hybrides) et (II) la réaction des investisseurs à l'annonce de la combinaison. En ce qui concerne ce dernier point, l'utilisation de deux tests non paramétriques permet de détecter une relation intéressante entre la réaction du marché à l'annonce et les différents modes attendus de financement de la transactionIn the broad context of business combinations and group of companies, this thesis selects some matters of interest at the crossroad between accounting, law (especially legal provisions and accounting regulation) and corporate finance.Concerning accounting theory, chapter 2 studies how business economics scholars understood groups of companies, group accounts and the process for their preparation in particular compared to Italian legal scholars. Then, chapter 3 reconstructs the political and legislative process that brought about the birth of the concept of group of companies in the Italian legal corpus. Concerning law and accounting policy, a comparative analysis is carried out in chapter 4 which clearly shows how the notion of control and its use in consolidated financial statements (group accounts) and business combinations accounting evolved (I) in European law, (II) under international accounting standards as issued by the IASB – International Accounting StandardsBoard and (III) in US GAAP (Generally Accepted Accounting Principles). Moreover, chapters 5 and 6 investigate the effects of lobbying on accounting standards on consolidated financial statements and business combinations issued by the IASB. Interestingly, results are consistent with a regulatory capture of the international standard setter by a category of financial institutions. In fact, confronted with a consolidation model purportedly based on control, the latter lobbied in favour of a consolidation exception which is based on an ownership view and is documented to have been proposed by US audit companies in that context at least from 1995. That view found a fertile ground within the IASB. As a result, other categories of financial institutions such as long term investment funds and those run by a family preferring a different consolidation model are now prohibited from presenting consolidated financial statement. Concerning corporate finance, chapter 7 studies the implications of different financing decisions ina novel and comprehensive sample of cases of mergers and acquisitions across and between financial institutions (banks and insurances) consummated worldwide around almost the last twodecades. In particular, it investigates (I) the relationship between the method of payment choice (i.e. if the price is paid in cash, stock or a mixture of the two) and the choice regarding the mode offinancing a business combination (including hybrid instruments) and (II) investors’ reaction at the combination announcement. As to the latter point, the use of two non-parametric tests allows todetect an interesting relationship between the market reaction at announcement and the different expected modes of financing the transaction
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Al-Adeem, Khalid Rasheed. "Accounting Theory: A Neglected Topic in Academic Accounting Research." Cleveland, Ohio : Case Western Reserve University, 2010. http://rave.ohiolink.edu/etdc/view?acc_num=case1256045265.
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Thesis(Ph.D.)--Case Western Reserve University, 2010Title from PDF (viewed on 2009-11-23) Department of Accounting Includes abstract Includes bibliographical references and appendices Available online via the OhioLINK ETD Center
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Farahin, Ali N. "The institutionalisation of accrual accounting : exploratory evidence from the Malaysian public sector." Thesis, University of Warwick, 2017. http://wrap.warwick.ac.uk/95675/.
Повний текст джерелаАнотація:
Motivated by unresolved debates on the appropriateness of accrual accounting in the public sector context and limited empirical support justifying its suitability within developing countries, this research seeks to fill such important knowledge gap. It expands the ongoing interest in the development of public sector accounting by focusing on an in-depth exploration of contextual interactions between institutions and processes of accounting change in one of the developing countries, Malaysia. As Malaysia is currently undertaking a radical accounting reform at the federal level, the research explored how it becomes institutionally embedded within political and administrative structures. By applying Critical Realism and Institutional Theory as theoretical lenses, this research employed qualitative strategies for primary and secondary data collected at lead agencies and three selected ministries. These include a thorough review of government documents, interviews with key actors and observations of their responses towards reform activities. The analyses revealed how the ultimate institutionalisation of accrual accounting approach, was constrained by the key actors’ limited capacity for action along with unaccommodating power dependencies. Moreover, the tension that arose between multiple expectations and the inherent attributes and culture of the public organisations that were strongly embedded in social welfare logics heavily influenced their interests and commitments in applying the efficiency logics prescription which underpin accrual accounting. The data also revealed the difficulties in complying with the International Public Sector Accounting Standards requirements, especially by organisations with distinctive assets where the relevant government policies still appear ambiguous. Consequently, there is heterogeneity in organisational responses and the quality of accounting information produced proved to be below expectations. The new financial information indicating the government’s financial position has imposed some political risks that have caused political support for the project to fluctuate. Therefore, rather than functioning as a management tool, accrual accounting has become a political tool. If these issues remain unresolved, the research implies that the Malaysian government will not be able to realise the value promised by accrual accounting, of which, may result in significant consequences in its effort to become a developed nation.
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Zhu, Wei. "Using Accounting Data to Predict Firm-level and Aggregate Stock Returns." Thesis, Yale University, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=3578482.
Повний текст джерелаАнотація:
This dissertation consists of three essays studying the role of accounting data in predicting distributions of stock returns. In the first essay, I explore the ability of accruals to predict future price (earnings) crashes and jumps, representing extreme negative and positive observations in the distribution of firm-level weekly returns (changes in quarterly ROA). I find that high (low) accruals predict a higher probability of price and earnings crashes (jumps) than medium accruals. In the second essay, I re-examine the ability of asset turnover growth, which reflects growth in both assets and sales, to predict future stock returns. While the prevailing view is that this relation is due to the spread between sales and asset growth, my results suggest it is driven mainly by the asset growth component. I do, however, find that this spread is positively related to future returns for a subsample of firms that did not make significant acquisitions or divestitures. In the third essay, I re-examine the puzzling negative correlation between aggregate stock returns and aggregate earnings at the quarterly level. I find that the negative aggregate returns-earnings correlation is unstable and the negative correlation for the period of 1976-2000 is mainly caused by the negative correlation between aggregate earnings and discount rate news.
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Potter, Bradley N., and mikewood@deakin edu au. "Reforming Australian public sector accounting: An episode of institutional thinking." Deakin University. School of Accounting, Economics and Finance, 2003. http://tux.lib.deakin.edu.au./adt-VDU/public/adt-VDU20051017.155728.
Повний текст джерелаАнотація:
In recent years in Australia, accounting reforms have been developed which have resulted in the application of commercial systems of accounting to diverse public sector organisations. The reforms, which include the requirement to recognise infrastructure and heritage resources as assets in financial reports, endorse financial notions of accountability and performance that have been traditionally applied within private sector, profit-seeking organisations. Such notions are applied to a range of public sector organisations for the first time, even though the primary missions or objectives of many of these organisations are social, rather than financial in orientation. This critical, interpretative case study, set within the context of not-for-profit public museums, seeks to enhance an understanding of public sector accounting change based on these unique social organisations.
The study examines three aspects of the reforms, namely, their development, their promotion and their defence. This examination is undertaken using the ideas contained in Mary Douglas (1986) How Institutions Think as the key theoretical construct. The supplementary perspectives of problematisation and epistemic communities are used to assist in applying the primary theoretical construct by explaining how, and by whom, these reforms were advocated and implemented in this specific instance. The study shows how the interpretation and application of the statements comprising the conceptual framework have shaped the development, promotion and defence of detailed standards developed for specific public sector organisations. In doing so, the study addresses two key research questions: (1) How were financial notions of accountability and performance of Australian public sector organisations constructed during the period 1976-2001 and articulated in the CF, once its development began, within this reform period? (2) How were these notions and other concepts of financial reporting outlined in the CF interpreted and applied in the (i) development; (ii) promotion; and (iii) defence of detailed accounting standards for not-for-profit public museums in Australia during the period under investigation?
The study demonstrates that the concepts of financial reporting outlined in the conceptual framework were used by a relatively small group of technical experts located in influential positions in accounting regulation and in other fields to justify the application of accrual accounting within diverse public sector organisations. During the period examined, only certain questions were posed and certain issues considered and many problems associated with the implementation of the reforms were not considered. Accordingly, a key finding of the study is that each aspect of the reform period was guided and constrained by institutional thinking. In addition, the study shows how the framework's content can be used to permit equally well-argued, but conflicting, accounting policies to be adopted and defended for the same items, indicating the framework to be of only limited value as a technical tool. This leads to another key finding of the study, namely, that the framework is best understood as a political tool, serving a crucial role in enabling accrual accounting reforms to be developed, promoted and defended within the public sector. Thus, the study seeks to offer an enhanced understanding of the nature and determinants of accounting change, and accordingly, it broadens an understanding of the use of the conceptual framework, as an institution, in developing, promoting and defending changes to accounting practice.
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Nutt, Stacey R. "Systematic bias in financial accounting information contributing to the overestimation of future earnings : an investigation into a consequence of earnings management." Thesis, Georgia Institute of Technology, 1994. http://hdl.handle.net/1853/29388.
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