Research Methods & Methodology in Accounting eJournal最新文献

{"title":"Rolling the Skewed Die: Economic Foundations of the Demand for Skewness and Experimental Evidence","authors":"A. Aristidou, Aleksandar Giga, S. Lee, F. Zapatero","doi":"10.2139/ssrn.3168944","DOIUrl":"https://doi.org/10.2139/ssrn.3168944","url":null,"abstract":"Skewness is pervasive across financial instruments, and the literature has documented that many investors seek idiosyncratic skewness in their portfolios. In response, there are some theoretical models that study implications of the preference for skewness, but using utility functions where the preference for right skewness is hard-wired. Drawing from status concerns, we derive a utility function reminiscent of Friedman and Savage (1948) that leads the investor to demand skewness --right or left skewness. We then consider a parsimonious set of securities that allow the investor to select the exact optimal level of right or left skewness. Our analysis yields a rich set of results broadly consistent with empirical observations.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133506591","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}

{"title":"Institutions, Situated Rationality and Agency in Management Accounting: Extending the Burns and Scapens Framework","authors":"Henk J. ter Bogt, R. Scapens","doi":"10.2139/ssrn.3167885","DOIUrl":"https://doi.org/10.2139/ssrn.3167885","url":null,"abstract":"Purpose Drawing on recent research, which recognises the situated nature of accounting practices, the aim of the paper is to extend the Burns and Scapens (B&S) framework and illustrate its potential for studying the situated nature of management accounting practices. The extended framework distinguishes field-level institutions (broader institutions) and institutions within the organisation (local institutions). In extending the B&S framework the paper draws on recent debates in institutional theory, both new institutional sociology (NIS), where the focus has been on the institutional logics perspective, and old institutional economics (OIE), where there has been debate about the relationship between institutions and actions. Design/Methodology/Approach While the B&S framework focussed on institutions within the organisation, our extended framework explicitly recognises institutions which extend beyond the boundaries of the organisation. It also recognises the way in which rationality and deliberation are related to human agency, as well as the power of specific individuals and/or groups to impose new rules. To illustrate the usefulness of the extended framework the paper draws on a recent study of performance measurement in the Accounting and Finance Groups of the Universities of Groningen and Manchester. Findings It is argued that local institutions (within the organisation) combine with the broader institutions to shape the forms of (situated) rationality which are applied by individuals and groups within the organisation. As different groups within an organisation (e.g., engineers versus accountants) can have different forms of (situated) rationality, and contradictions in these forms of rationality can be a source of institutional change or resistance to change within the organisation. Originality/Value The extended framework will be useful for studying: (1) how situated rationalities evolve within an organisation, more specifically how they are shaped by both local and broader institutions; and (2) how prevailing situated rationalities shape the responses to accounting change.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124506884","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}

{"title":"Corporate Scandals and Regulation: Appendix on Data Collection for Historical Time-Series from 1800 to 2015","authors":"Luzi Hail, Ahmed Tahoun, Clare H. Wang","doi":"10.2139/SSRN.2960069","DOIUrl":"https://doi.org/10.2139/SSRN.2960069","url":null,"abstract":"In this appendix, we provide the following for each of the 26 sample countries in Hail, Tahoun, and Wang (2018), Corporate Scandals and Regulation, Journal of Accounting Research 56(2): 617–671: a brief overview of the country’s historical background and the major developments affecting the regulatory environment, country-specific details regarding our data collection procedure (e.g., time period covered, newspaper selection for keyword search, data sources, keywords for search of electronic archives in local language, secondary literature, local country experts, etc.), as well as descriptive information on the episodes of corporate scandals and (accounting) regulation that we identified (including a few illustrative examples for each country). When data is available, we also plot the time-series of media mentions of the terms “scandal” and “regulator” (or the local equivalents) in the business press, and tabulate the number of different types of corporate scandals and regulations by decade over the period 1800 to 2015.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127537579","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}

{"title":"Do Family Firms Purchase More Nonaudit Services than Non‐Family Firms?","authors":"Fei Kang","doi":"10.1111/ijau.12090","DOIUrl":"https://doi.org/10.1111/ijau.12090","url":null,"abstract":"This study investigates the association between family ownership and the relative level of nonaudit service (NAS) fees paid to the incumbent auditors by public companies. Using data from S&P 1500 firms during the post-SOX period 2002–2010, the study shows that the NAS fee ratio (the NAS fees relative to the total of audit and NAS fees) is higher for family firms than non-family firms. The results suggest that family owners' close monitoring of their firms reduces the information asymmetry and agency problems between shareholders and managers, and as a result family firms tend to purchase more NAS from their auditors to appreciate the potential benefits of the auditors' knowledge spillovers. Additional analysis demonstrates that the positive association between family ownership and the NAS fee ratio is particularly pronounced for family firms without dual-class shares and for those with non-family-member CEOs.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132843871","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}

{"title":"Time-Localized Wavelet Multiple Regression and Correlation: Eurozone Stock Markets Across Scales and Time","authors":"Javier Fernández-Macho","doi":"10.2139/ssrn.2995891","DOIUrl":"https://doi.org/10.2139/ssrn.2995891","url":null,"abstract":"This paper extends wavelet methodology to handle co-movement dynamics of multivariate time series via moving weighted regression on wavelet coefficients. \u0000 \u0000The concept of wavelet local multiple correlation is used to produce one single set of multi-scale correlations along time, in contrast with the large number of wavelet correlation maps that need to be compared when using standard pairwise wavelet correlations with rolling windows. Also, the spectral properties of weight functions are investigated and it is argued that some common time windows, such as the usual rectangular rolling window, are not satisfactory on these grounds. \u0000 \u0000The method is illustrated with a multi-scale analysis of the co-movements of Eurozone stock markets during this century. It is shown how the evolution of the correlation structure in these markets has been far from homogeneous both along time and across timescales featuring an acute divide across timescales at about the quarterly scale. At longer scales, evidence from the long-term correlation structure can be interpreted as stable perfect integration among Euro stock markets. On the other hand, at intramonth and intraweek scales, the short-term correlation structure has been clearly evolving along time, experiencing a sharp increase during financial crises which may be interpreted as evidence of financial ‘contagion’.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"68 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121407684","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}

{"title":"Business Analytics and Performance Management: A Small Data Example Combining TD-ABC and BSC for Simulation and Optimization","authors":"Steen Nielsen","doi":"10.2139/ssrn.2991537","DOIUrl":"https://doi.org/10.2139/ssrn.2991537","url":null,"abstract":"The purpose of this paper is twofold: first, it discuss the potentials of combining performance management with the concept and methodology of business analytics. The inspiration for this stems from the intensified discussions and use of business analytics and performance in organizations by both academics and professionals. Second, the paper demonstrates and evaluates the idea of business analytics on a numerical example combining the balanced scorecard and TD-ABC. Four different scenarios are analysed by means of spreadsheet Monte Carlo simulation and optimization to show how such a combination can be made and assess the consequences. The paper shows that in order to be able to fulfill future jobs descriptions; accountants must not only have specific quantitative skills but also creativity and imagination. In addition, the results of the simulation scenarios show the complicated nature of decision making and the careful considerations needed before actually making a decision. For practical implications, the paper establishes some basic ideas for integrating the business analytics methodology for selecting and evaluating accounting problems and it therefore paves the way for analytics performance management approaches.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132230720","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}

{"title":"Bayesian Analysis of Moving Average Stochastic Volatility Models: Modelling in Mean Effects and Leverage for Financial Time Series","authors":"S. Dimitrakopoulos, M. Kolossiatis","doi":"10.2139/ssrn.2966886","DOIUrl":"https://doi.org/10.2139/ssrn.2966886","url":null,"abstract":"We propose a moving average stochastic volatility in mean model and a moving average stochastic volatility model with leverage. For parameter estimation, we develop efficient Markov chain Monte Carlo algorithms and illustrate our methods, using simulated data and a real data set. We compare the proposed specifications against several competing stochastic volatility models, using marginal likelihoods and the observed-data Deviance information criterion. We find that the moving average stochastic volatility model with leverage has better fit to our daily return series than various standard benchmarks.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125119501","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}

{"title":"Teaching Transversal Competences in the Area of Accounting: Fact or Fiction?","authors":"P. Crespo, Ester Oliveras","doi":"10.26595/EAMR.2014.3.2.4","DOIUrl":"https://doi.org/10.26595/EAMR.2014.3.2.4","url":null,"abstract":"A high percentage of graduates in Economics and Business start a professional career in jobs related to accounting, auditing or finance. These areas have been characterized in recent decades by a large international as well as numerous financial scandals due to fraud and accounting manipulations. In Higher Education is necessary to ensure that key transferable skills are developed in the accounting subjects. The case method has been applied, by analyzing the accounting subjects of a Business Degree. The elements of the case are: syllabus analysis, faculty’s opinion and actual practice and video recording of seminars. A detailed analysis shows that the transversal competences that are currently being taught and evaluated are oral communication skills and to a lesser degree written communication skills and teamwork. The ethical and social responsibility of the company is discussed tangentially through case studies in one compulsory subject. In this work we show in which areas there can be inconsistencies in the development and evaluation of transversals skills in higher education and specifically in the accounting area.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124324452","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}

{"title":"Types of Investor Uncertainty and Cost of Equity","authors":"Chad R. Larson, Robert J. Resutek","doi":"10.2139/ssrn.2318062","DOIUrl":"https://doi.org/10.2139/ssrn.2318062","url":null,"abstract":"This study examines the explanatory power of different sources of investor uncertainty for expected stock returns and implied costs of equity. We develop novel estimates of two sources of investor uncertainty, one related to future performance and unrelated to accrual errors (cash flow uncertainty) and one related to investor uncertainty of future performance because of accrual errors (information quality uncertainty). Distinct from prior studies, our estimates of investor uncertainty are forward-looking, represent conditional volatilities surrounding expectations of future cash flows and accruals, and are based on a matched-firm process that minimizes the mechanical correlation between the two uncertainty variables. Our tests reveal that different types of investor uncertainty have different, and countervailing, effects on cost of equity in a manner directionally consistent with theory. We find a strong negative relation between cash flow uncertainty and multiple estimates of cost of equity with economic magnitudes similar to those on book-to-market and accruals. In addition, incremental to cash flow uncertainty, we find a strong positive association between information quality uncertainty and future stock returns. Collectively, our study offers the first direct empirical evidence that different sources of investor uncertainty can have countervailing effects on costs of equity.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123269107","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}

{"title":"Big Data Techniques in Auditing Research and Practice: Current Trends and Future Opportunities","authors":"A. Gepp, M. Linnenluecke, Terry J. O'Neill, Tom Smith","doi":"10.2139/ssrn.2930767","DOIUrl":"https://doi.org/10.2139/ssrn.2930767","url":null,"abstract":"Abstract This paper analyses the use of big data techniques in auditing, and finds that the practice is not as widespread as it is in other related fields. We first introduce contemporary big data techniques to promote understanding of their potential application. Next, we review existing research on big data in accounting and finance. In addition to auditing, our analysis shows that existing research extends across three other genealogies: financial distress modelling, financial fraud modelling, and stock market prediction and quantitative modelling. Auditing is lagging behind the other research streams in the use of valuable big data techniques. A possible explanation is that auditors are reluctant to use techniques that are far ahead of those adopted by their clients, but we refute this argument. We call for more research and a greater alignment to practice. We also outline future opportunities for auditing in the context of real-time information and in collaborative platforms and peer-to-peer marketplaces.","PeriodicalId":202880,"journal":{"name":"Research Methods & Methodology in Accounting eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130141233","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}