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Threshold Citation Analysis of Influential Articles, Journals, Institutions and Researchers in Accounting 会计领域有影响力的论文、期刊、机构和研究人员的阈值引用分析
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-10-25 DOI: 10.1111/j.1467-629X.2007.00254.x
Kam C. Chan, Kartono Liano
{"title":"Threshold Citation Analysis of Influential Articles, Journals, Institutions and Researchers in Accounting","authors":"Kam C. Chan, Kartono Liano","doi":"10.1111/j.1467-629X.2007.00254.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00254.x","url":null,"abstract":"We use a threshold citation approach to measure the influence of articles, journals, institutions and researchers in accounting research. The Journal of Accounting Research, the Journal of Accounting and Economics and Accounting Review are the 3 most influential journals in accounting research. The 3 most influential institutions in accounting research are the University of Chicago, the University of Pennsylvania and the University of Michigan, while the 3 most frequently cited authors in accounting research are Richard G. Sloan, Robert E. Verrecchia and Paul M. Healy.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127209115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 70
Valuing Executive Stock Options: Performance Hurdles, Early Exercise and Stochastic Volatility 高管股票期权估值:业绩障碍、早期行使和随机波动
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-10-05 DOI: 10.1111/j.1467-629X.2008.00259.x
P. Brown, Alexander Szimayer
{"title":"Valuing Executive Stock Options: Performance Hurdles, Early Exercise and Stochastic Volatility","authors":"P. Brown, Alexander Szimayer","doi":"10.1111/j.1467-629X.2008.00259.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2008.00259.x","url":null,"abstract":"Accounting standards require companies to assess the fair value of any stock options granted to executives and employees. We develop a model for accurately valuing executive and employee stock options, focusing on performance hurdles, early exercise and uncertain volatility. We apply the model in two case studies and show that properly computed fair values can be significantly lower than traditional Black-Scholes values. We then explore the implications for pay-for-performance sensitivity and the design of effective share-based incentive schemes. We find that performance hurdles can require a much greater fraction of total compensation to be a fixed salary, if pre-existing incentive levels are to be maintained. Copyright (c) 2008 The Authors. Journal compilation (c) 2008 AFAANZ.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133766155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 22
Note on Audit Fee Premiums to Client Size and Industry Specialization 注:审计费用溢价与客户规模和行业专业化有关
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-09-01 DOI: 10.1111/j.1467-629X.2007.00213.x
Elizabeth Carson, N. Fargher
{"title":"Note on Audit Fee Premiums to Client Size and Industry Specialization","authors":"Elizabeth Carson, N. Fargher","doi":"10.1111/j.1467-629X.2007.00213.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00213.x","url":null,"abstract":"This research note examines the impact of client size on the estimation of audit fee premiums in the Australian market for audit services. Previous research suggests that higher audit fees are expected for both larger clients and for industry specialization. We find that in the Australian market for audit services, the fee premium attributed to industry specialist audit firms is concentrated in the audit fees paid by the largest clients in each industry. One reason for higher fees paid by larger clients is the demand for additional audit services. We find higher fees for companies cross-listed on US exchanges. We also find that fee premiums to auditors that are city-industry leaders are strongly related to client size.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124933362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 98
Anomalies and Stock Returns: Australian Evidence 异常和股票回报:澳大利亚的证据
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-09-01 DOI: 10.1111/j.1467-629X.2009.00298.x
philip. gharghori, Ronald Lee, M. Veeraraghavan
{"title":"Anomalies and Stock Returns: Australian Evidence","authors":"philip. gharghori, Ronald Lee, M. Veeraraghavan","doi":"10.1111/j.1467-629X.2009.00298.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2009.00298.x","url":null,"abstract":"Prior research has identified the existence of several cross-sectional patterns in equity returns, commonly referred to as effects. This paper tests for the existence of a number of well-known effects using data from the Australian equities market. Specifically, we investigate the size effect, book-to-market effect, earnings-to-price effect, cashflow-to-price effect, leverage effect and the liquidity effect. An additional aim of this paper is to investigate the capability of the Fama–French model in explaining any observed effects. We document a size, book-to-market, earnings-to-price and cashflow-to-price effect but fail to find evidence of a leverage or liquidity effect. Although our findings indicate that the Fama–French model can partially explain some of the observed effects, we conclude that its performance is less than satisfactory in Australia.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122938387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 75
Portfolio Construction Incorporating Asymmetric Dependence Structures: A User's Guide 包含非对称依赖结构的投资组合构建:用户指南
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-09-01 DOI: 10.1111/j.1467-629X.2007.00219.x
Jamie Alcock, Anthony Hatherley
{"title":"Portfolio Construction Incorporating Asymmetric Dependence Structures: A User's Guide","authors":"Jamie Alcock, Anthony Hatherley","doi":"10.1111/j.1467-629X.2007.00219.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00219.x","url":null,"abstract":"We outline a method of portfolio selection incorporating asymmetric dependency structures using copula functions. Assuming normally distributed marginal returns, we illustrate how asymmetric return correlations affect the efficient frontier and subsequent portfolio performance under a dynamic rebalancing framework. Implementing this methodology within the context of tactically allocating a small set of market indices, we demonstrate several key findings. First, we establish the manner by which the efficient frontier constructed under asymmetric dependence differs from a mean-variance frontier. By establishing a paper portfolio based on these differences, we find that asymmetric correlation structures do have real economic value. The primary source of this economic value is the ability to better protect portfolio value and reduce the size of any erosion in return relative to the normal portfolio when asymmetric return correlations are accounted for.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133631564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 45
Factors Influencing Organizations to Improve Data Quality in their Information Systems 影响组织提高信息系统数据质量的因素
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-06-01 DOI: 10.1111/j.1467-629X.2006.00205.x
S. Tee, P. Bowen, Peta Doyle, Fiona H. Rohde
{"title":"Factors Influencing Organizations to Improve Data Quality in their Information Systems","authors":"S. Tee, P. Bowen, Peta Doyle, Fiona H. Rohde","doi":"10.1111/j.1467-629X.2006.00205.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2006.00205.x","url":null,"abstract":"Although managers consider accurate, timely and relevant information as critical to the quality of their decisions, evidence of large variations in data quality abounds. This research examines factors influencing the level of data quality within a target organization. The results indicate that management's commitment to data quality and the presence of data quality champions strongly influence data quality in the target organization. The results also show that the managers of the participating organization are committed to achieving and maintaining high data quality. However, changing work processes and establishing a data quality awareness culture are required to motivate further improvements to data quality.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122569107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 62
Optimal Smoothing of Profit Via Overhead Allocation 通过间接分配实现利润的最优平滑
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-06-01 DOI: 10.1111/j.1467-6281.2007.00223.x
Steve Yu Shuo Su
{"title":"Optimal Smoothing of Profit Via Overhead Allocation","authors":"Steve Yu Shuo Su","doi":"10.1111/j.1467-6281.2007.00223.x","DOIUrl":"https://doi.org/10.1111/j.1467-6281.2007.00223.x","url":null,"abstract":"Income smoothing, as defined in Statistical Activity Cost Theory (SACT), is the rational statistical adjustment of periodic accounting earnings to reduce their time volatility around average long-term profit per period. This article demonstrates how overhead cost allocations can be applied to smooth accounting earnings optimally in accordance with this definition. Such an approach parallels earlier work, such as that by Lane and Willett (1997, 1999), in which a depreciation formula was derived and applied for this purpose. In particular, it is shown that, to realize an income smoothing effect in profit making firms, the usual optimal strategy is to over-allocate costs, giving support to the accounting principle of conservatism.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"407 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133784597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Is International Trust Performance Predictable Over Time? A Note 国际信托绩效能否长期预测?一份报告
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-05-18 DOI: 10.1111/j.1467-629X.2007.00237.x
J. Fletcher, A. Marshall
{"title":"Is International Trust Performance Predictable Over Time? A Note","authors":"J. Fletcher, A. Marshall","doi":"10.1111/j.1467-629X.2007.00237.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00237.x","url":null,"abstract":"We examine whether past return measures have any significant predictive ability for future returns of UK unit trusts with international equity objectives. We find significant positive persistence between the past return performance of the trust relative to its investment sector and future trust returns relative to its sector. This result holds at short-run and long-run return horizons. The persistence is stronger in trusts that perform well relative to their sector. Our findings suggest that the past return performance of the trust relative to their sector provides a useful guide to future return performance relative to their sector.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124144290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Relation between Franking Credits and the Market Risk Premium: A Comment 邮资信用与市场风险溢价的关系述评
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-04-19 DOI: 10.1111/j.1467-629X.2007.00236.x
Giang Truong, G. Partington
{"title":"Relation between Franking Credits and the Market Risk Premium: A Comment","authors":"Giang Truong, G. Partington","doi":"10.1111/j.1467-629X.2007.00236.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00236.x","url":null,"abstract":"Based on the Officer (1994) model, Gray and Hall (2006) derive a relation between franking credits and the market risk premium. On the basis of this relation, the authors show that traditional estimates of the value of franking credits imply dividend yields that are inconsistent with historical equity market data. This inconsistency arises from assumptions about the franking credit payout ratio and the value of franking credits retained. With less than a 100 per cent payout ratio some franking credits are retained within the firm. Assuming that the retained franking credits have no value leads to the inconsistency in dividend yields. Current practice in the application of Officer's model makes this assumption and, therefore, leads to inconsistent results. Gray and Hall suggest resolving the inconsistency by setting the value of all franking credits to zero. An alternative solution is to recognize that retained franking credits might have a positive value.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131987592","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
On the IASB Comprehensive Income Project: An Analysis of the Case for Dual Income Display 国际会计准则理事会(IASB)综合收益项目:以双重收入显示为例分析
ARN Wiley-Blackwell Publishers Journals Pub Date : 2007-03-01 DOI: 10.1111/j.1467-6281.2007.00215.x
P. Van Cauwenberge, Ignace de Beelde
{"title":"On the IASB Comprehensive Income Project: An Analysis of the Case for Dual Income Display","authors":"P. Van Cauwenberge, Ignace de Beelde","doi":"10.1111/j.1467-6281.2007.00215.x","DOIUrl":"https://doi.org/10.1111/j.1467-6281.2007.00215.x","url":null,"abstract":"The IASB is presently involved in a project on reporting comprehensive income. Since the IASB accounting model mixes two income determination systems, namely, historical cost accounting and fair value accounting, an interesting question pertains to whether the display of comprehensive income should reflect the existence of these two paradigms. This article scrutinizes, from both the points of view of accounting theory and a valuation perspective, the typical arguments made by proponents of historical cost net income and comprehensive fair value income. It finds that claims for exclusive reliance on a single concept of income are untenable. The analysis provides arguments in defence of an income display that explicitly features both income concepts. Such a dual income display would correspond to a categorization of comprehensive income that is currently investigated in the IASB performance reporting project. However, given the importance of summarization in financial analysis, as is most extremely reflected in the focus on the earnings per share (EPS) number, the case for a dual income display should also be considered at the highest level of summarization of financial performance reporting. In other words, mandatory publication of two EPS numbers, one for net income, and one for comprehensive income, should be considered. Possible effects on perception and actual use of financial reports that should enter such a consideration are suggested as topics for experimental research.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124300047","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 82
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