Journal of Accounting Abstracts最新文献_第3页

The Incorporation of Risk in the Capital Budgeting Decision 风险在资本预算决策中的应用

Journal of Accounting Abstracts Pub Date : 2001-02-10 DOI: 10.2139/ssrn.243163

J. Hall

引用次数: 0

The Impact of Using Inappropriate Procedures to Neutralize For Inflation in Recent Executive Compensation Studies 在最近的高管薪酬研究中，使用不适当的程序来抵消通货膨胀的影响

Journal of Accounting Abstracts Pub Date : 2001-02-01 DOI: 10.2139/ssrn.262558

T. Dyckman, S. Zeff

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引用次数: 1

Bringing Down the Other Berlin Wall: Germany's Repeal of the Corporate Capital Gains Tax 推倒另一堵柏林墙:德国废除企业资本利得税

Journal of Accounting Abstracts Pub Date : 2001-01-01 DOI: 10.2139/ssrn.256570

Douglas A. Shackelford, Mark Lang, Edward L. Maydew

{"title":"Bringing Down the Other Berlin Wall: Germany's Repeal of the Corporate Capital Gains Tax","authors":"Douglas A. Shackelford, Mark Lang, Edward L. Maydew","doi":"10.2139/ssrn.256570","DOIUrl":"https://doi.org/10.2139/ssrn.256570","url":null,"abstract":"Faced with pressure from increased global competition and capital mobility, Germany's government made a surprise announcement in December 1999 that it would repeal the longstanding capital gains tax on sales of corporate crossholdings. The repeal was hailed as a revolutionary step toward breaking up Germany's complex web of cross-ownership. When the changes become effective in 2002, Germany will move from having one of the most punitive taxes on corporate capital gains to having the smallest among major industrial countries. This paper uses Germany as a natural experiment to provide evidence on the extent to which taxes present a barrier to the efficient acquisition and divestiture of stakes in other firms. In particular, we examine the stock market response by German firms to the announcement that capital gains taxes on intercompany holdings would be eliminated. We find a positive association between a firm's abnormal stock returns and the extent of its crossholdings, consistent with taxes acting as a barrier to efficient allocation of ownership and investment. However, the reaction is limited to the largest banks and insurers and their extensive minority holdings in industrial firms, suggesting that taxes are not the binding constraint preventing most firms from divesting their crossholdings.","PeriodicalId":180033,"journal":{"name":"Journal of Accounting Abstracts","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2001-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133287596","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: 11

The Effects of Uncertainty on the Informativeness of Earnings: Evidence from the Insurance Industry in the Wake of Catastrophic Events 不确定性对收益信息的影响:来自灾难性事件后保险业的证据

Journal of Accounting Abstracts Pub Date : 2001-01-01 DOI: 10.2139/ssrn.146234

Theodore E. Christensen

引用次数: 24

Can Sexual Acts between (or Among) Consenting Adults Be Considered an Act Discreditable to the Profession Under Aicpa Code of Professional Conduct Rule 501? A Philosophical Look at a Practical Ethical Question 根据美国注册会计师协会职业行为准则第501条，成年人之间(或之间)的性行为是否会被视为有损职业声誉的行为?从哲学的角度看一个实际的伦理问题

Journal of Accounting Abstracts Pub Date : 2000-12-20 DOI: 10.2139/SSRN.242329

Robert W. McGee

引用次数: 2

Incentives Facing Life Insurance Firms to Manage Actuarial Earnings: Evidence from Australia and the UK 寿险公司管理精算收益的动机:来自澳大利亚和英国的证据

Journal of Accounting Abstracts Pub Date : 2000-11-01 DOI: 10.2139/ssrn.250904

P. Klumpes

引用次数: 7

Survey of Financial Statement Analysis Courses in Europe and the United States 欧洲和美国财务报表分析课程调查

Journal of Accounting Abstracts Pub Date : 2000-11-01 DOI: 10.2139/SSRN.263292

C. P. Stickney, Hervé Stolowy

引用次数: 1

Purchase Versus Pooling in Stock-for-Stock Acquisitions: Why Do Firms Care 以股换股收购中的购买与集中:为什么公司会在意

Journal of Accounting Abstracts Pub Date : 2000-09-01 DOI: 10.2139/ssrn.246775

David Aboody, Ron Kasznik, Michael Williams

{"title":"Purchase Versus Pooling in Stock-for-Stock Acquisitions: Why Do Firms Care","authors":"David Aboody, Ron Kasznik, Michael Williams","doi":"10.2139/ssrn.246775","DOIUrl":"https://doi.org/10.2139/ssrn.246775","url":null,"abstract":"We investigate firms' financial reporting policies with respect to business combinations, particularly the choice between the purchase and pooling-of-interests methods. To control for potentially confounding effects related to the method of acquisition financing, we focus on a sample of stock-for stock acquisitions. We provide evidence that the accounting method choice is jointly determined by the size of the step-up, i.e., the premium paid over the book value of the acquired firm and which is recognized under the purchase method, and proxies for economic benefits derived from accounting-based contracts. In particular, we find that, when the business combination involves a large step-up to the target's net assets, CEOs with earnings-based compensation plans are more likely than others to incur the costs of qualifying for pooling and avoid the earnings 'penalty' associated with the purchase method. However, we find no association between stock-based compensation and the purchase-pooling choice, suggesting managers are not concerned about implications of large step-ups for firms' equity values. We also find no support for the prediction that top executives' preference for pooling is greater when their job security is relatively low. Finally, consistent with the favorable balance sheet effects of the purchase method, we find that the likelihood of pooling decreases with the acquirer's debt-equity ratio, a proxy for debt contracting costs. We also predict and find an association between the purchase-pooling choice and potential costs related to meeting the restrictive pooling criteria. In particular, we find that firms for which the pooling requirement of no share repurchases appears to be binding (firms that have already announced a share repurchase plan and/or have a large number of outstanding employee stock options) are less likely than others to use pooling. However, we do not find that firms for which the requirement of no post-acquisition divestitures of the target's assets may be binding are less likely to use pooling.","PeriodicalId":180033,"journal":{"name":"Journal of Accounting Abstracts","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2000-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115182451","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: 105

Discussion of 'Contracting Theory and Accounting' “契约理论与会计”探讨

Journal of Accounting Abstracts Pub Date : 2000-09-01 DOI: 10.2139/ssrn.259634

R. Magee

引用次数: 29

Tax Strategies and Dividend Imputation: The Effect of Foreign and Domestic Ownership on Average Effective Tax Rates 税收策略与股息归算:外资和内资所有权对平均有效税率的影响

Journal of Accounting Abstracts Pub Date : 2000-09-01 DOI: 10.2139/ssrn.242778

Brett R. Wilkinson, S. Cahan, Geoff Jones

引用次数: 12