Managerial Accounting eJournal最新文献

{"title":"Disagreement, Speculation and Management Forecasts","authors":"V. Dimitrov, Darius Palia, Zhiwei Xu","doi":"10.2139/ssrn.3567139","DOIUrl":"https://doi.org/10.2139/ssrn.3567139","url":null,"abstract":"Prior research shows that disagreement leads to speculative trading and a speculative premium in stock prices. We examine how managers respond to this speculative premium. Using exogenous variation in speculative trading due to the reconstitution of the Russell 1000/2000 indices, we find that speculative trading reduces the frequency, likelihood, and precision of management forecasts. Consistent with theory, this relationship is significantly stronger when short sale constraints are more binding, and when managers have stronger equity-based incentives. We also find that managers sell equity to benefit from the speculative premium. In summary, our results suggest that managers issue forecasts opportunistically in response to speculative trading: they either keep silent, or issue fewer and more ambiguous forecasts to prolong disagreement among investors and the speculative premium.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116515012","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":"The Effect of Budgetary Controls on the Performance of an Organization","authors":"Anthony Tapiwa Mazikana","doi":"10.2139/ssrn.3445247","DOIUrl":"https://doi.org/10.2139/ssrn.3445247","url":null,"abstract":"The discussion of budgeting has been a subject of debate over recent years. Although ZDF adopt budgeting controls, there have been no comprehensive studies on budgeting which has been conducted at ZDF in Zimbabwe. In Zimbabwe budgeting control adoption has not been complete without the active engagement of various stakeholders at ZDF. At ZDF it is not known on how budgeting is conducted, whether budgetary controls in ZDF compare well with benchmarks, if control systems are effective in relation to performance of the organization. It is against this background that this study investigated how budgeting is conducted in the ZDF, establish whether the budgetary controls in ZDF compare well with benchmarks, examine the effectiveness of the control system in relation to performance of the organization, identify challenges to effective budgeting in ZDF and suggest improvements to the control systems. The literature on budgeting showed that the following areas have not been explored: the meaning attached to budgeting by ZDF is currently not known, the impact of budgeting in Zimbabwe is currently not known. Data for this study was collected through 65 questionnaires. The systematic random sampling method was adopted to select respondents for quantitative research while the purposive method was used to select respondents for qualitative research. The SPSS version 21.0 was used to analyze quantitative data while the reduction method was adopted for qualitative data.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128320754","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 Firms Mimic Industry Leaders’ Accounting? Evidence from Financial Statement Comparability","authors":"Gus De Franco, Y. Hou, Mark (Shuai) Ma","doi":"10.2139/ssrn.3310219","DOIUrl":"https://doi.org/10.2139/ssrn.3310219","url":null,"abstract":"\u0000 Following management theory on organizational legitimacy, we predict that managers mimic the accounting of industry-leading companies to gain legitimacy. Such demand for legitimacy is expected to be greater for new managers because stakeholders are more uncertain about the managers’ ability. Using a sample of CEO turnovers, we find that a firm increases financial statement comparability with industry leaders after the new CEO assumes office. This relation is stronger when (1) new managers lack executive experience at larger firms, are younger, or belong to an underrepresented group (i.e., are female or nonwhite); (2) networks that facilitate imitation are more intense, such as when firms and peers are located in the same metropolitan statistical area (MSA) and when they share auditors or blockholders; and (3) firms’ operating environments are more volatile. These findings support the idea that CEOs’ demand for legitimacy leads to more comparable accounting.\u0000 Data Availability: Data are available from the public sources cited in the text.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121545636","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":"Η Πληροφορία Αιτίου-Αποτελέσματος του Λογιστικού Δικτύου (The Cause-and-Effect Information of the Accounting Network)","authors":"K. R. Pertsemlidis","doi":"10.2139/ssrn.3408428","DOIUrl":"https://doi.org/10.2139/ssrn.3408428","url":null,"abstract":"Greek Abstract: Πρόβλημα: Το διπλογραφικό σύστημα καταγραφής και eπeξeργασίας της λογιστικής πληροφορίας υπήρξe το πλέον eπιτυχές κατά τα προηγούμeνα 500 χρόνια. Αρχικά, eξασφάλισe τον ακριβή υπολογισμό των υπολοίπων των λογαριασμών, πράγμα που eπeξέτeινe την eμπιστοσύνη στις οικονομικές συναλλαγές μeταξύ αγνώστων. Αργότeρα, οι καταστάσeις αποτeλeσμάτων χρήσης και ταμeιακών ροών eπέτρeψαν την άντληση της πληροφορίας για τα αίτια διαμόρφωσης των υπολοίπων δύο λογαριασμών: των κeρδών και των διαθeσίμων. Γύρω στο 1960, eξέχοντeς μeλeτητές ξe-κίνησαν την αναζήτηση μeθόδων άντλησης της πληροφορίας αιτίου-αποτeλέσματος για όλους τους λογαριασμούς. Όμως, ο στόχος αυτός δeν έχeι eπιτeυχθeί ακόμη για λόγους που eξηγούνται στην παρούσα μονογραφία. \u0000 \u0000Λύση: Η παρούσα μονογραφία αποδeικνύeι ότι η πληροφορία αιτίου-αποτeλέσματος μπορeί να αντληθeί μόνο αν διαχeιριζόμαστe τις δαπάνeς, τα έξοδα, τα έσοδα, και τις χρηματοροές αποκλeιστικά ως πράξeις (μeταβλητές διαδικασιών) που eπηρeάζουν λογαριασμούς (μeταβλητές καταστάσeων). Οι πράξeις αποτeλούν τους δeσμούς (αίτια) και οι λογαριασμοί τους κόμβους (αποτeλέ-σματα) eνός λογιστικού δικτύου που eίναι η τυπική έκφραση τριών ιδιοτήτων των οικονομικών συναλλαγών: (i) την ανeξαρτησία μeταξύ πράξeων και λογαριασμών, (ii) τη δομική σύζeυξη μeταξύ φυσικών και χρηματοπιστωτικών πράξeων, και (iii) τη συνθeτικότητα ροών, πράξeων, και λογαριασμών. \u0000 \u0000Αποτeλέσματα: Η δομή eνός τέτοιου δικτύου eπeκτeίνeι την eπeξeργασία της πληροφορίας αιτίου-αποτeλέσματος σe τρeις συμπληρωματικούς τeτραδιάστατους λογιστικούς χώρους: τον διπλογραφικό, τον τοπολογικό, και τον αφινικό, απαλλαγμένους από τα τρέχοντα συντακτικά και σημασιολογικά eλαττώματα και τις τρέχουσeς eννοιολογικές αντιπαραθέσeις και λογικές πλάνeς. \u0000 \u0000English Abstract: Problem: The double-entry system of recording and reporting accounting information has been the most successful in the last 500 years. Initially, it extended the trust in economic transactions among strangers by ensuring the exact calculation of the account balances. Later, the income statement and the cash flow statement allowed the disclosure of the causes of two account balances: earnings and cash. In the early 1960s, prominent scholars started looking for methods to disclose the cause-and-effect information for all accounts. However, this goal has not yet been met for reasons that are explained in this monograph. \u0000 \u0000Solution: The present monograph proves that the cause-and-effect information of the accounting system can be restored only if expenditures, expenses, revenues, and money flows are treated exclusively as actions (process variables) that affect accounts (state variables). The actions constitute the links (causes) and the accounts constitute the nodes (effects) of an accounting network that is the formal expression of three properties of economic transactions: (i) the independence between actions and accounts, (ii) the structural coupling between physical and financial actions, and (iii) the comp","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116039675","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":"The Hidden Cost of Competition: The Effect of Competition for Monetary Rewards and Social Recognition on Psychological Pressure and Knowledge Sharing","authors":"Bernhard Reichert, Matthias Sohn","doi":"10.2139/ssrn.3219853","DOIUrl":"https://doi.org/10.2139/ssrn.3219853","url":null,"abstract":"We examine the impact of competition for both monetary rewards (tournament compensation schemes versus piece-rate compensation) and social recognition (public disclosure of rankings with rank anonymity removed) on employee knowledge sharing with former competitors in a setting where knowledge sharing leads to neither a cost nor benefit for the person sharing. In such a setting, sharing results purely from goodwill towards the interaction partner. For this purpose, we conduct a two-part laboratory experiment and hypothesize that competition in the first task negatively affects knowledge sharing in the second, unrelated task. Our results support our hypothesis. We further show that this decrease in knowledge sharing is mediated by differences in psychological pressure induced by competition. Lastly, we find that the decrease in knowledge sharing results from the behavior of low performers in the competition, whereas knowledge sharing by high performers is not affected by competition.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128061457","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":"Stock Price Firm‐Specific Information on the Choice of Stock Payment in Mergers and Acquisitions","authors":"Wenjing Ouyang, Samuel H. Szewczyk","doi":"10.1111/acfi.12270","DOIUrl":"https://doi.org/10.1111/acfi.12270","url":null,"abstract":"Previous studies on the choice of stock payment in M&A mainly focus on managerial private information. This study shows that managers also learn new firm-specific information from financial markets in making this decision. The acquirer's stock price firm-specific information increases the stock-payment-to-Q sensitivity. The target's stock price firm-specific information decreases the stock payment probability. Further analyses on deal and firm characteristics as well as shareholder wealth in stock mergers support the managerial learning argument. Overall, this study highlights a new set of information that affects the form of merger payment in mergers and acquisitions.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131059845","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":"Asymptotic Optimality of Constant-Order Policies in Joint Pricing and Inventory Control Models","authors":"Xin Chen, A. Stolyar, Linwei Xin","doi":"10.2139/ssrn.3375203","DOIUrl":"https://doi.org/10.2139/ssrn.3375203","url":null,"abstract":"We consider a traditional joint pricing and inventory control problem with lead times, which has been extensively studied in the literature but is notoriously difficult to solve due to the complex structure of the optimal policy. In this work, rather than analyzing the optimal policy, we propose a class of so-called constant-order dynamic pricing policies, which are quite different from base-stock heuristics, the primary focus in the existing literature. Under such a policy, a constant-order amount of new inventory is ordered every period and a pricing decision is made based on the on-hand inventory. The policy is independent of the lead time and does not suffer from the curse of dimensionality. We prove that the best constant-order dynamic pricing policy is asymptotically optimal as the lead time grows large, which is exactly the setting in which the problem becomes computationally intractable due to the curse of dimensionality. As a main methodological contribution, we implement the so-called vanishing discount factor approach and establish the convergence to a long-run average random yield inventory model with zero lead time and ordering capacities by its discounted counterpart as the discount factor goes to one, non-trivially extending the previous results in Federgruen and Yang (2014) that analyze a similar model but without capacity constraints.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131793906","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":"Silencing Through Management Accounting Practices: A Case Study of Cost-efficiency in a Public Administration","authors":"Caecilia Drujon d'Astros","doi":"10.2139/ssrn.3374492","DOIUrl":"https://doi.org/10.2139/ssrn.3374492","url":null,"abstract":"This paper investigates how accounting practices create silence within organizations. Organizational silence designates a collective-level phenomenon characterized by the widespread withholding of information, opinions or concerns, by employees about work-related problems or issues (Morrison &amp; Milliken, 2003; Brinsfield et al., 2009).<br><br>Six months of observation over a 15 months period and twenty-four interviews detail the use of tableaux de bord and management accounting to justify decision-making and raise accountability among managers who are asymmetrically equipped to read and use accounting. This paper explores silence as a form of resistance to surveillance but also as a reaction of financially illiterate, or disinterested actors to management accounting practices.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121630519","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":"The Elusive Benefits of Mind Wandering: How Incentive Scheme and Task Structure Facilitate Creative Incubation in a Multitask Environment","authors":"Jeffrey Hales, Wenqian Hu, Ivo D. Tafkov","doi":"10.2139/ssrn.3374305","DOIUrl":"https://doi.org/10.2139/ssrn.3374305","url":null,"abstract":"We use two experiments to investigate how incentive scheme and task structure influence creative incubation in a multitask environment where participants perform both creative and simple routine tasks. In our first experiment, where participants are given the discretion to switch between a creative and a routine task, we find that creativity-based incentives generate the most incubation benefits in terms of the greatest number of high-creativity ideas compared to quantity-based incentives and fixed wage. However, we find little evidence that incentive scheme itself can effectively “nudge” individuals to self-select into an incubation period. In our second experiment, we examine whether randomly assigning participants to switch between tasks can achieve the incubation benefits we observed in our first experiment. Results suggest that the performance advantage under creativity-based incentives disappears when the task environment is structured in a way that forces an incubation period. Taken together, our results suggest that employees need both the right incentives and self-insight with regard to the right switching time to gain incubation benefits in a multitask environment. Further, the simple way to impose an incubation period can backfire, as the interruption costs may outweigh the incubation benefits once the switching is forced during creative production.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126401663","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":"Determining the Effectiveness of Internal Controls in Enterprise Risk Management based on COSO Recommendations","authors":"Thabit H. Thabit","doi":"10.2139/ssrn.3401199","DOIUrl":"https://doi.org/10.2139/ssrn.3401199","url":null,"abstract":"The continuous risk assessment depends on the integration of the lines of defense (LOD), the main LOD are three lines (management control, risk and control monitoring, ensuring independence of the internal audit) which lead to the integration of enterprise risk management ERM. The cooperation among the LOD is not new in an environment of growing risk and limited resources. But for this collaboration to be effective, internal control bodies need to identify a methodology for evaluating the LOD and mitigating the challenges they face.<br><br>This study aims to identify the most important internal control methods in assessing the risks facing the organization in accordance with the internal control framework issued by COSO in order to limit the obstacles that decrease the ability of the internal audit to rely on others for fear of low level of independence and objectivity, and to clarify the objectives and motives of internal control and its capability with the responsibility and authority of the internal auditor within the organization.<br><br>The main problem of the study is the ability of internal control to regulate the activity of the organization's LOD in order to increase the effectiveness of ERM, reduce the cost of compliance and enhance the independence of the internal auditor of the organization.<br><br>The researchers adopted COSO recommendations to determine the effectiveness of internal control in risk assessment of the organization by analyzing these recommendations and comparing them with the most important challenges facing internal auditing according to the related PwC reports of.<br><br>The researchers concluded that the internal audit plays a major role in improving ERM of the organization and the integration of its LOD by enhancing the role of the internal auditor and raising the level of its independence and objectivity.","PeriodicalId":357263,"journal":{"name":"Managerial Accounting eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115548258","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}