发布求助
文献互助 智能选刊 最新文献

ARN Wiley-Blackwell Publishers Journals最新文献

筛选
英文 中文
Single Stock Futures as a Substitute for Short Sales: Evidence from Microstructure Data 单股期货作为卖空的替代品:来自微观结构数据的证据
ARN Wiley-Blackwell Publishers Journals Pub Date : 2009-05-01 DOI: 10.1111/j.1468-5957.2009.02159.x
Bartley R. Danielsen, R. Van Ness, Richard S. Warr
{"title":"Single Stock Futures as a Substitute for Short Sales: Evidence from Microstructure Data","authors":"Bartley R. Danielsen, R. Van Ness, Richard S. Warr","doi":"10.1111/j.1468-5957.2009.02159.x","DOIUrl":"https://doi.org/10.1111/j.1468-5957.2009.02159.x","url":null,"abstract":"We examine how the introduction of single-stock futures impacts short sale costs and short interest levels in the underlying spot market. We find that short selling in the underling securities declines, after futures are introduced, the cost of borrowing stock for short sales declines and the available unborrowed supply of lendable shares increases. These results are consistent with futures exchanges providing a low-cost substitute market for establishing short positions. Microstructure evidence also suggests that the lower cost and greater ease of short selling via futures markets draws informed traders from the spot market. Copyright (c) 2009 The Authors Journal compilation (c) 2009 Blackwell Publishing Ltd.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"304 1-2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117563077","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: 25
1new Public Management: The Cruellest Invention of the Human Spirit? 新公共管理:人类精神最残酷的发明?
ARN Wiley-Blackwell Publishers Journals Pub Date : 2009-03-01 DOI: 10.1111/j.1467-6281.2009.00275.x
I. Lapsley
{"title":"1new Public Management: The Cruellest Invention of the Human Spirit?","authors":"I. Lapsley","doi":"10.1111/j.1467-6281.2009.00275.x","DOIUrl":"https://doi.org/10.1111/j.1467-6281.2009.00275.x","url":null,"abstract":"This article examines one of the most significant phenomena of the late twentieth and early twenty-first centuries—the emergence of New Public Management (NPM). NPM has been widely adopted, internationally. However, its adoption is based on governments having faith in its deployment to transform their public sectors using private sector performance criteria. In this article, the case is advanced that the widespread use of NPM is often a cruel disappointment for governments. This is demonstrated by focusing on four key elements of NPM, as practised in the early twenty-first century—the role of management consultants, the development of e-government, the emergence of the ‘audit society’ and the increasing importance of risk management.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120936766","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: 471
Agenda Formation and Accounting Standards Setting: Lessons from the Standards Setters 议程形成与会计准则制定:准则制定者的经验教训
ARN Wiley-Blackwell Publishers Journals Pub Date : 2009-01-12 DOI: 10.1111/j.1467-629X.2009.00299.x
B. Howieson
{"title":"Agenda Formation and Accounting Standards Setting: Lessons from the Standards Setters","authors":"B. Howieson","doi":"10.1111/j.1467-629X.2009.00299.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2009.00299.x","url":null,"abstract":"There are many studies on lobbying of accounting standards, but the technical agenda of regulators is taken as ‘given’ and why a particular topic was admitted to the agenda is not investigated. Agenda formation is important as control of the agenda determines which topics get regulated and the form of the regulatory response. A few studies have explored agenda formation across regulatory institutions but are largely silent on the role of individual decision makers and technical staff. However, the standards setters have sought to explain their agenda processes. This paper reviews statements by the members of accounting standards setting agencies about their experiences of agenda formation. It identifies insights gained from standard setters and makes some suggestions for future research.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"7 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130821806","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: 26
Are Non-Audit Services Associated with Firm Value? Evidence from Financial Information System-Related Services 非审计服务与公司价值有关吗?来自金融信息系统相关服务的证据
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-12-31 DOI: 10.1111/j.1467-629X.2009.00297.x
K. Lai, Gopal V. Krishnan
{"title":"Are Non-Audit Services Associated with Firm Value? Evidence from Financial Information System-Related Services","authors":"K. Lai, Gopal V. Krishnan","doi":"10.1111/j.1467-629X.2009.00297.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2009.00297.x","url":null,"abstract":"The purchase of non-audit services from incumbent auditors has generated considerable attention. Surprisingly, limited empirical evidence exists on the association of non-audit services with firm value. Focusing on services related to financial information system (FIS), we find that the market value of equity is greater for firms that purchase FIS-related services from their incumbent auditors relative to firms that do not. The levels of FIS fees are also positively related to firm value after controlling for total other fees, or total other non-audit fees. Hence, despite the negative perception associated with non-audit services, investors regard FIS-related services as value-adding activities.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130206790","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: 36
Accounting Irregularities, Management Compensation Structure and Information Asymmetry 会计违规、管理层薪酬结构与信息不对称
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-11-03 DOI: 10.1111/j.1467-629X.2008.00266.x
Fayez A. Elayan, Jennifer Li, T. Meyer
{"title":"Accounting Irregularities, Management Compensation Structure and Information Asymmetry","authors":"Fayez A. Elayan, Jennifer Li, T. Meyer","doi":"10.1111/j.1467-629X.2008.00266.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2008.00266.x","url":null,"abstract":"The discovery of accounting irregularities is an important negative event for a company. The restatement resulting from the irregularity represents an average of 364 per cent of net income for the 152-firm sample and the irregularities are predominantly revenue enhancing. The irregularity firms exhibit both lower transparency and visibility compared to a matched sample of non-irregularity firms. Furthermore, prior to the announcement, these firms experienced poorer operating performance and their executive compensation structure is found to be significantly more equity-based. Therefore, firms that have greater opportunity and incentive are shown to be more likely to commit accounting irregularities.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124185680","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: 43
Transitional Credit Modelling and its Relationship to Market Value at Risk: An Australian Sectoral Perspective 过渡性信用模型及其与风险市场价值的关系:澳大利亚行业视角
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-10-21 DOI: 10.1111/j.1467-629X.2009.00294.x
D. Allen, R. Powell
{"title":"Transitional Credit Modelling and its Relationship to Market Value at Risk: An Australian Sectoral Perspective","authors":"D. Allen, R. Powell","doi":"10.1111/j.1467-629X.2009.00294.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2009.00294.x","url":null,"abstract":"Internal credit risk modelling is important for banks for the calculation of capital adequacy in terms of the Basel Accords, and for the management of sectoral exposure. We examine Credit Value at Risk (VaR), Conditional Credit Value at Risk (Credit CVaR) and the relationship between market and credit risk. Significant association is found between different Credit CVaR methods, and between market and credit risk. Simpler Credit CVaR methods are found to be viable alternatives to more complex methodology. The relationship between market and credit risk is used to develop a new model that allows banks to incorporate industry risk into transition modelling, without macroeconomic analysis.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"13 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114035117","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: 44
Integrating a Virtual Learning Environment into a Second-Year Accounting Course: Determinants of Overall Student Perception 将虚拟学习环境融入二年级会计课程:学生整体认知的决定因素
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-08-14 DOI: 10.1111/j.1467-629X.2007.00249.x
Paul K. Wells, Paul A. De Lange, P. Fieger
{"title":"Integrating a Virtual Learning Environment into a Second-Year Accounting Course: Determinants of Overall Student Perception","authors":"Paul K. Wells, Paul A. De Lange, P. Fieger","doi":"10.1111/j.1467-629X.2007.00249.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00249.x","url":null,"abstract":"Rapid acceptance of, and changes in, information technology are revolutionizing the way educators teach and students learn. This study reports on the use of Blackboard as a tool for creating a virtual learning environment (VLE). Responses from undergraduate accounting students in New Zealand provide data on the use of the VLE as a learning aid. Findings suggest that the students have openly embraced the VLE and support its adoption by faculty members in other courses. However, students appear unwilling to actively participate in two-way online activities. This has implications for faculty contemplating the adoption of a VLE in their courses.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127383710","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: 99
Internal Capital Market Subsidies and Industry Downturns 内部资本市场补贴与行业低迷
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-08-14 DOI: 10.1111/j.1467-629X.2007.00250.x
C. A. Brown, Chris R. McNeil
{"title":"Internal Capital Market Subsidies and Industry Downturns","authors":"C. A. Brown, Chris R. McNeil","doi":"10.1111/j.1467-629X.2007.00250.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2007.00250.x","url":null,"abstract":"We examine whether multisegment firms tend to subsidize operations doing business in industries that experience a major downturn in investment opportunities. The results provide little evidence of subsidization. The likelihood of discontinuation of multisegment operations in these industries does not statistically differ from that of single-segment operations. Similarly, patterns of capital expenditures after the shock do not materially deviate between multisegment and single-segment operations. These results indicate that the internal capital markets of multisegment firms are no less (and no more) efficient than that of single-segment firms in their reaction to a shock to investment opportunities.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125519949","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
Volatility Linkages of the Equity, Bond and Money Markets: An Implied Volatility Approach 股票、债券和货币市场的波动率联系:隐含波动率方法
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-05-28 DOI: 10.1111/j.1467-629X.2008.00281.x
Kent Wang
{"title":"Volatility Linkages of the Equity, Bond and Money Markets: An Implied Volatility Approach","authors":"Kent Wang","doi":"10.1111/j.1467-629X.2008.00281.x","DOIUrl":"https://doi.org/10.1111/j.1467-629X.2008.00281.x","url":null,"abstract":"This study proposes an alternative approach for examining volatility linkages between Standard & Poor's 500, Eurodollar futures and 30 year Treasury Bond futures markets using implied volatility from the three markets. Simple correlation analysis between implied volatilities in the three markets is used to assess market correlations. Spurious correlation effects are considered and controlled for. I find that correlations between implied volatilities in the equity, money and bond markets are positive, strong and robust. Furthermore, I replicate the approach of Fleming, Kirby and Ostdiek (1998) to check the substitutability of the implied volatility approach and find that the results are nearly identical; I conclude that my approach is simple, robust and preferable in practice. I also argue that the results from this paper provide supportive evidence on the information content of implied volatilities in the equity, bond and money markets.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129156378","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: 14
Multiple Dimensions of Accounting in the Development of GAAP GAAP发展中的会计多维度
ARN Wiley-Blackwell Publishers Journals Pub Date : 2008-02-08 DOI: 10.1111/j.1467-6281.2007.00251.x
J. Staunton
{"title":"Multiple Dimensions of Accounting in the Development of GAAP","authors":"J. Staunton","doi":"10.1111/j.1467-6281.2007.00251.x","DOIUrl":"https://doi.org/10.1111/j.1467-6281.2007.00251.x","url":null,"abstract":"The phrase ‘accepted accounting principles’ underlying financial statements is a forerunner of today's accounting standards. Here, it is argued that history shows that the term ‘principles’ is often most vague in debates on the development of those standards. The reasons for and consequences of that vague use are varied and complex. This article provides insights not highlighted in earlier analyses of the periods reviewed. While debates like the rule- versus principle-based standards are set up as two-dimensional, the many dimensions of accounting often allow argument to be easily diverted. The debate/argument thus remains unresolved. For progress to be achieved in the establishment of accounting standards the many dimensions of accounting must be acknowledged and attempts to divert debate minimized. Those with a stake in the development of accounting standards need to consider the total scene of the related accounting. In a particular debate, dimensions under scrutiny must be stated, with any others in that total scene being acknowledged even if kept constant.","PeriodicalId":134477,"journal":{"name":"ARN Wiley-Blackwell Publishers Journals","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122022085","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: 1
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信