The literature presents a clear divide between the so called market and accounting based approaches to bankruptcy prediction. With this in mind, this paper employs the discrete time hazard model framework of Shumway (2001) to test the information content of both market and accounting based models using Australian data. We …nd that market based models signi…cantly outperformed accounting based m...

This paper integrates prior studies of accounting policy choice and lobbying activities by testing the empirical implications of Becker’s (1983) theory of competition among pressure groups for political influence over the determination of accounting standards. The theory is applied to explain the nature and outcome of conflict among pressure groups representing financial intermediaries (supplie...

various researches have been carried out about benefits of accounting information and their influence on decision making of financial statements users. for example, many researches have examined the relationship between accounting variables and stock returns or stock price. this study determines and compares the relative and incremental content of accounting variables, too. for this purpose, th...

Ken Ricci w ill be the next Student Union d irector, it was announced last n ight by Student Union D irector Tom B irsic and Student Body president-elect M ike Gassman. Ricci assumes his new duties A p ril 1. The sophomore accounting in ­ tent is from Cleveland, Ohio and served as assistant com ptro lle r th is year. He was the financia l troub le ­ shooter and developed a budget to keep Studen...

Non-governmental Organisations (NGOs) perform an important role in the economic development of developing countries by providing services to society through welfare works for community development, assistance in national disasters, sustainable system development, and popular movements. In recent years, funding constraints, calls for accountability, media exposure and the development of a contra...

Özet. Otomatik birim testler sayesinde programlar n kapsama oran n artt rmak mümkündür. Konkolik test metodu (concolic testing) otomatik birim test yarat m için kullan lan bir yaz l m testi tekni§idir. Ancak, yol patlamas (path explosion) ve k s t çözümlerinin (constraint solving) yaratt § darbo§az nedeniyle, ölçeklenebilir bir otomatik konkolik testçi geli3tirmek zor olmu3tur. Bu tekni§i ölçek...

This paper reveals and tests a new theoretical implication of the credit channel of monetary policy: as financial frictions (monitoring or auditing costs) increase, the reaction of stock prices to monetary policy shocks decreases. Correspondingly, towards the end of the Enron accounting scandal, the stock prices of firms sharing the same auditor as Enron responded by about 50 to 60 basis points...

We study the intertemporal properties of conservatism with a focus on managerial incentives. In our main model, conservatism results in smaller expected payouts to the manager (agent) in early periods and larger expected payouts in later periods. Conservatism shifts (ambiguous) evidence that might be used to recognize good performance in early periods to later periods. In later periods, good pe...

A perpetrator’s mental state – whether she had mens rea or a “guilty mind” – typically plays an important role in evaluating wrongness and assigning punishment. In two experiments, we find that this role for mental states is weaker in evaluating conventional violations relative to moral violations. We also find that this diminished role for mental states may be associated with the fact that con...

During the 1990s Greek auditors and branches of international accounting firms in Greece fought a veritable professional war over the jurisdiction of statutory auditing. This intra-professional conflict developed against a backdrop of profound changes in the socio-economic and political fabric of the country, along pro-liberal, free market lines. This paper looks at a particular episode of that...