منابع مشابه
Accrual Budgeting and Fiscal Policy
* Marc Robinson is a European-based international consultant and trainer. This article was written when he was a senior economist in the Fiscal Affairs Department of the International Monetary Fund. The author gratefully acknowledges the valuable comments of Marco Cangiano, Ian Lienert, Gösta Ljungman, David Fjord Nielsen, Eivind Tandberg and participants in a seminar in the Fiscal Affairs Depa...
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Prior accounting research argues that diminishing marginal returns on new investments drive lower persistence of accruals relative to cash flows. Macroeconomic research documents that marginal profitability is counter-cyclical, which implies that diminishing marginal returns on new investments are more pronounced during periods of expansions than recessions. Linking the cyclicality of diminishi...
متن کاملTwo Accrual Anomalies: A Dichotomy of Accrual-Return Relations∗
Motivated by the findings that the aggregate (discretionary) accruals positively predicts oneyear-ahead firm-level stock returns and that there is a considerable amount of co-movement in firm-level (discretionary) accruals, we decompose firm-level (discretionary) accruals into a market-wide component and a firm-specific component. We document robust evidence that the two orthogonal (discretiona...
متن کاملAccrual monitoring in cardiovascular trials
Objective To provide brief guidance on how to design accrual monitoring activities in a clinical trial protocol. Setting Two completed clinical trials that did not achieve the planned sample size, the Cost of Strategies After Myocardial Infarction (COSTAMI) trial and the Biventricular Pacing After Cardiac Surgery (BiPACS) trial. Design A Bayesian monitoring tool, the constant accrual model,...
متن کاملCooperation in the Budgeting Process
In this article I analyze the role of cooperation between firm divisions in the budgeting process. I study a setting in which cooperation is a necessary condition for information sharing among division managers, which in turn benefits the principal. The results in this article can help reconcile the differing views between practitioners and academic researchers on the desirability of cooperatio...
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ژورنال
عنوان ژورنال: OECD Journal on Budgeting
سال: 2006
ISSN: 1681-2336
DOI: 10.1787/budget-v4-art5-en