We construct empirical proxies for cash-flow timing and matching problems and provide evidence on the ability of this accrual generating factor to explain accruals. Researchers lament our meager understanding of the process that spawns accruals (Owens et al., 2013, Ball, 2013, McNichols, 2000). Our aim is to map the explanatory power boundaries demarcated by our current knowledge of the role of...

Electronic commerce is emerging as one of the main application domains on the Internet and the WWW and promises to change radically the relationship between customers, retailers and service providers. However, for this to happen, electronic commerce must become eeectively a better way of selling goods and services than the traditional channels. This requires a suitable infrastructure for develo...

BACKGROUND There is universal agreement that higher mortality goes with lower income. Opinions differ on causality: the association may reflect the damaging effect of poverty on health and survival chances. Conversely, it may reflect selection/reverse causation: low income indicates health problems, and from health problems follow a higher risk of dying. METHODS We studied all deaths in Norwa...

Based on unbalanced panel dates of 4060 companies listed from 2003 2007 in Shanghai and Shenzhen Stock Markets, this paper empirically studies the degree of product market competition, the relationship between cash dividends distribution tendency and cash dividends policy. Results show that controlling shareholders have significant motivation to distribute cash dividends, and this kind of incen...

abstract this study reviews the direct and indirect effects of higher energy and bread prices (due to removing their subsidies and paying their equivalent in cash instead). therefore, all consumer goods were classified into 6 groups and a linear expenditure system was estimated based on households’ budget data of 2009 and 2011 for urban and rural areas separately. the results indicate that high...

In this paper we study algorithms for pricing of financial contracts using a lattice process of interest rates. If the cash-flows generated by the contract depend on the history of the interest rates (path dependent contracts), then the pricing algorithms are typically of exponential complexity. We demonstrate that for some models, there exist polynomial algorithms for path dependent contracts....

This paper presents electronic cash as a catalyst to electronic commerce. Electronic Cash facilitates business transactions not only between customers and merchants, but also between customer to customer transactions. This paper discusses a survey regarding electronic cash that was done in University of Puerto Rico in 2004. This survey analyses what the students think about electronic cash as a...

This paper studies the impact of both solvency and liquidity concerns on corporate …nance. The …rm optimally chooses capital structure, cash holdings, dividends and default while facing stochastic cash ‡ows with two sources of uncertainty. The expected cash ‡ows are uncertain and low pro…tability leads to solvency distress. Moreover, cash ‡ows are subject to liquidity shocks that cause liquidit...

This paper investigates whether the family status of a company’s top officer affects managerial replacement decisions in UK firms. We report evidence that family firms are characterized by higher levels of board control and weak internal governance in the form of independent company board structures. Consistent with a managerial entrenchment hypothesis, we find evidence that family CEOs are les...

A PC based system called CASH MANAGER is presented. It is a knowledge-based decision support system designed for financial managers. The system contains financial manager knowledge and management science expertise. It is designed to support decisions made by financial managers, who are not management science experts, yet desire to employ the capabilities of management science tools. CASH MANAGE...