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Does Industry-Level Information Affect Auditors’ Assessment Of Client-Level Risk?, David Rosser 2017 University of Arkansas, Fayetteville

Does Industry-Level Information Affect Auditors’ Assessment Of Client-Level Risk?, David Rosser

Theses and Dissertations

This study investigates auditors’ consideration of industry-level information in their assessment of client-level risk. Auditing standards suggest that industry-level information is likely to be important in the assessment of client-level risk, but the standards provide few specifics about how auditors should use industry-level information in the risk assessment process. I argue that industry norms serve as a benchmark for evaluating the risk of the client and that deviations from industry norms could indicate increased audit risk. I create measures that capture the extent to which clients deviate from industry norms using proxies for client-level risk factors. In my primary tests ...


Boosting Hong Kong’S Competitiveness In The Beps Era, Daniel Ho 2017 Hong Kong Baptist University

Boosting Hong Kong’S Competitiveness In The Beps Era, Daniel Ho

HKBU Staff Publication

In the Group of Twenty (G20) leaders’ meeting in June 2012, the finance ministers of the participating nations commissioned the Organization for Economic Co-operation and Development (OECD) to conduct a study and report on Base Erosion and Profit Shifting (BEPS). In July 2013, OECD and G20 countries adopted a 15-point Action Plan to address BEPS. After a 2-year consultation period, the OECD presented the final package of anti-BEPS measures addressing all of the 15-point Action Plan in October 2015. Since then, many tax jurisdictions have introduced new initiatives to enhance tax transparency and combat cross-border tax evasion. Hong Kong is ...


The Predictive Audit: Why Prevention Is Better Than A Cure, Clarence GOH 2017 Singapore Management University

The Predictive Audit: Why Prevention Is Better Than A Cure, Clarence Goh

Research Collection School Of Accountancy

Foreseeing potential problems can save your business from long-term headaches.


The Real Effect Of State Corporate Tax Rate Changes: Evidence From Corporate Headquarters Relocation, Travis K. CHOW, Sterling HUANG, Kenneth J. KLASSEN, Jeffrey NG 2017 Singapore Management University

The Real Effect Of State Corporate Tax Rate Changes: Evidence From Corporate Headquarters Relocation, Travis K. Chow, Sterling Huang, Kenneth J. Klassen, Jeffrey Ng

Research Collection School Of Accountancy

The state tax apportionment formula used to determine state taxes is a function of the taxable income attributable to the state and state corporate tax rates. In this study, we rely on changes in state corporate income tax rates and other inducements across time and states as a quasi-natural experiment to examine the effect of state taxation on corporate headquarters (HQ) relocation. We find that changes in HQ state corporate income tax rates significantly affect the likelihood of cross-state HQ relocation. Other inducements also reduce the likelihood of relocation. The results of the cross-sectional analysis suggest that the likelihood of ...


A Haven By Any Other Name: The Role Of Tax Holidays In Corporate Tax Avoidance, Travis K. CHOW, Jeffrey L. HOOPES, Edward L. MAYDEW 2017 Singapore Management University

A Haven By Any Other Name: The Role Of Tax Holidays In Corporate Tax Avoidance, Travis K. Chow, Jeffrey L. Hoopes, Edward L. Maydew

Research Collection School Of Accountancy

We undertake the first large-sample examination of foreign tax holiday participation among U.S.corporations. Tax holidays are temporary reductions of tax granted by governments, usually inconjunction with new business investment. We find that foreign tax holidays are economicallyimportant phenomena and participation in them has increased over time. The percentage ofpublicly-traded U.S. firms reporting participation in at least one foreign tax holiday increasedmore than five-fold since the beginning of our sample in 1995. We estimate that the averageforeign tax holiday reduces the firm’s effective tax rate by 4.5 percentage points during theholiday period, which is over four ...


The Predictive Audit: Why Prevention Is Better Than A Cure, Clarence GOH 2017 Singapore Management University

The Predictive Audit: Why Prevention Is Better Than A Cure, Clarence Goh

Research Collection School Of Accountancy

Foreseeing potential problems can save your business from long-term headaches.


The Real Effect Of The Initial Enforcement Of Insider Trading Laws, Zhihong CHEN, Yan HUANG, Yuanto KUSNADI, K. C. JOHN WEI 2017 Singapore Management University

The Real Effect Of The Initial Enforcement Of Insider Trading Laws, Zhihong Chen, Yan Huang, Yuanto Kusnadi, K. C. John Wei

Research Collection School Of Accountancy

Based on a difference-in-differences approach, we find strong evidence that the initial enforcement of insider trading laws improves capital allocation efficiency. The effect is concentrated in developed markets and manifests shortly after the enforcement year. Further analysis shows that the improvement is positively associated with the increase in liquidity around the enforcement year and the opaqueness of the information environment before the enforcement year. The improvement is more pronounced for firms operating in more competitive markets, being more financially constrained, and with more severe agency problems. Finally, we find increased accounting performance after the enforcement and the increase is positively ...


Property And Pecuniary Risk Exposures: An Investigation Into Smes’ Shutdown And Mitigation Methods In Nigeria, Joshua Solomon Adeyele, Olubunmi Florence Osemene, Idowu Emmanuel Olubodun 2017 University of Jos, Jos-Nigeria

Property And Pecuniary Risk Exposures: An Investigation Into Smes’ Shutdown And Mitigation Methods In Nigeria, Joshua Solomon Adeyele, Olubunmi Florence Osemene, Idowu Emmanuel Olubodun

The Journal of Entrepreneurial Finance

Business Interruption (BI) insurance is not popular among the operators/owners of Small and Medium Enterprises (SMEs) in Nigeria. This study is an attempt to investigate causes of SMEs’ failure and to assist the owners on how to use BI to protect both the physical assets as well as future profits of their businesses. Hence, 389 SMEs were purposively selected from four major cities in Niger Delta Region (NDR) in Nigeria for this purpose. The statistical tools used for analysis were Phi and Cramer’s V. The extent of SMEs losses through means of sourcing for materials and strategy employed ...


Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa 2017 Drexel University

Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa

Sebastien J Bradley

Despite an extensive literature on the normative implications of different international tax regimes and an empirical literature addressing individual specific predictions, there exists little evidence encompassing the broad range of effects of taxing corporations' foreign-source income on a worldwide or territorial basis. This paper takes a more comprehensive quantitative approach by examining stock market reactions surrounding four events over the course of which Japan's 2009 adoption of a dividend exemption system was developed into proposed law. Using an event study methodology which leverages individual firm characteristics and accounts for contemporaneous financial market developments, we find that Japanese firms with ...


Paws-Abilities, Taylor Davis, Madelyn Day, Kendall DuLaney, Jordanne Howard, Cierra Monroe, Jordan Tapp 2017 Governor's Scholars Program, Murray State University

Paws-Abilities, Taylor Davis, Madelyn Day, Kendall Dulaney, Jordanne Howard, Cierra Monroe, Jordan Tapp

GSP at Murray State University

PAWS-abilities is our non-profit business idea. Our goal for PAWS-abilities is to provide a safe environment for local stray dogs and rehabilitate them to become service or therapy dogs in the future. The trainers will be local inmates who have passed a strict screening process to ensure the safety of all who are involved. The inmates will be supervised by licensed, professional dog trainers who specialize in service and therapy training. We plan to partner with several local organizations, businesses, and veterinarians to place the service dogs with their new families and to promote the health of the dogs at ...


Technical Training And Readiness University For The Disabled, Wyatt Wells, Robby Draper, Claire Kleum, Zach Farrell, Dahra Lambert, Vishaal Balamurugan 2017 Governor's Scholars Program, Murray State University

Technical Training And Readiness University For The Disabled, Wyatt Wells, Robby Draper, Claire Kleum, Zach Farrell, Dahra Lambert, Vishaal Balamurugan

GSP at Murray State University

Technical Training and Readiness University (TTRUD) is a school for the disabled that would equip them with the 21st century skills needed for them to excel in the workforce. Skills include those such as technical skills, how to handle social encounters in the workplace, and basic training to be prepared to function for the job field they want to enter. To qualify, the applicant must be on disability, and would go through a thorough application process. TTRUD would be a non-profit organization and would rely mostly on donations, grants, and other government funding. We also plan to collaborate with any ...


Chief Financial Officer Demographic Characteristics And Fraudulent Financial Reporting In China, Jiwei WANG, Baolei QI, Jinghui SUN 2017 Singapore Management University

Chief Financial Officer Demographic Characteristics And Fraudulent Financial Reporting In China, Jiwei Wang, Baolei Qi, Jinghui Sun

Research Collection School Of Accountancy

We investigate whether management's cognitions, values and perceptions are associated with fraud for 18 863 firm-years for Chinese listed firms from 2000 to 2014. Demographic characteristics of the chief financial officer (CFO) are used as proxies for management's cognitions, values and perceptions. We find that fraudulent financial reporting is higher when CFOs are younger, male, and have lower education backgrounds. An analysis of inflated earnings, fictitious assets, material omissions and other material misstatements provide similar results, with the exception that CFOs with higher education levels are associated with more inflated earnings. Accounting and Finance


Do High Ceo Pay Ratios Destroy Firm Value?, Qiang CHENG, Tharindra RANASINGHE, Sha ZHAO 2017 Singapore Management University

Do High Ceo Pay Ratios Destroy Firm Value?, Qiang Cheng, Tharindra Ranasinghe, Sha Zhao

Research Collection School Of Accountancy

There is growing public concern over the rapid growth in CEO pay relative to average worker pay (CEO pay ratio). Critics contend that high CEO pay ratios could destroy firm value by damaging employee morale and/or signal CEO rent extraction. In this paper, we use a proprietary dataset to examine the relationship between CEO pay ratio and firm value/performance. Contrary to critics’ arguments, we find that industry-adjusted CEO pay ratios are positively associated with both firm value and performance. We also find that high CEO pay ratios are associated with higher quality acquisitions and stronger CEO turnover-performance sensitivity ...


Fair Value Accounting: Affect On The Auditing Profession, Danny A. Pannese, Alan DelFavero 2017 Sacred Heart University

Fair Value Accounting: Affect On The Auditing Profession, Danny A. Pannese, Alan Delfavero

Danny Pannese

During this period of global markets, multinational corporations are demanding financial accounting standards with enhanced uniformity. In an effort to achieve this objective, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together on the Convergence Project, aiming to develop accounting standards that closely correlate with international financial reporting standards. In September 2006 and February 2007, the FASB issued two key fair value accounting (FVA) standards which focused on providing guidelines for fair value measurement (through a classification hierarchy), expanding disclosure requirements, and also allowing business entities to increase FVA's application. However ...


Interpreting Financial Results, Bridget Lyons, Rupendra Paliwal, Danny A. Pannese 2017 Sacred Heart University

Interpreting Financial Results, Bridget Lyons, Rupendra Paliwal, Danny A. Pannese

Danny Pannese

The article discusses three accounting changes issued by the Financial Accounting Standards Board (FSAB). The Statement of Financial Accounting Standards (SFAS) No. 158 "Employers' Accounting for Defined Benefit Pension and Other Retirement Plans" and the SFAS No. 160 "Noncontrolling Interests in Consolidated Financial Statements" are mentioned. Financial Interpretation 48 "Accounting for Uncertainty in Income Taxes, an Interpretation of FSAB Statement No. 109" is mentioned. The takeaway? Financial analysts, investors, and creditors need to carefully interpret ratios and measures, including debt to equity, liabilities to equity, and return on equity. Financial ratios used in loan covenants should be clearly designed and ...


Shu To Host Cpa Tax School Sessions At Stamford Graduate Center In August, Danny A. Pannese 2017 Sacred Heart University

Shu To Host Cpa Tax School Sessions At Stamford Graduate Center In August, Danny A. Pannese

Danny Pannese

The American Institute of CPAs (AICPA), the world’s largest association representing the accounting profession, will conduct its 2017-18 “Tax School: Tax Staff Essentials” at Sacred Heart University’s Stamford campus in August.


Three Studies Of Stakeholder Influence In The Formation And Management Of Tax Policies, Jason Chen 2017 University of Central Florida

Three Studies Of Stakeholder Influence In The Formation And Management Of Tax Policies, Jason Chen

Jason Shih-Hao Chen

This dissertation consists of three separate but interrelated studies examining the formation and management of tax policies. The first study uses stakeholder theory (ST) to investigate the strategic management practices of the Transport for London (TfL) during discrete stages in the adoption, implementation, and amendments of the tax policy reform known as the London Congestion Charge (LCC). Results indicate that TfL has utilized power, legitimacy, and urgency as its main policy management tactics with a significant emphasis on legitimatizing the LCC and its subsequent policy amendments. The second study draws on social exchange theory (SET) to reexamine the relationship between ...


Do Tax Directors Face Consequences From Tax Avoidance?, Liora Y. Schulman 2017 The Graduate Center, City University of New York

Do Tax Directors Face Consequences From Tax Avoidance?, Liora Y. Schulman

All Dissertations, Theses, and Capstone Projects

I examine the association between tax avoidance and tax director turnover. Specifically, I hand collect the names of tax directors and explore whether tax directors face consequences from making tax avoidance decisions. This unique dataset allows me to identify the tax director, who is directly responsible for taxes, which are one of the most significant accounts, and who prior literature has largely ignored due to a lack of availability of data. I find evidence that the tax director is more likely to face consequences, as measured by turnover, when their firm’s effective tax rate is above their industry median ...


Financial Regulation For A Better Society, Shyam Sunder 2017 Yale University

Financial Regulation For A Better Society, Shyam Sunder

Shyam Sunder

The benefits of top down financial reporting regulation over the past eight decades are less obvious than its failures to achieve the purported goals. Perhaps it is time to give a chance to an alternative approach of regulatory competition.


Ceo Contractual Protection And Debt Contracting, Qiang CHENG, Xia CHEN, Alvis K. LO, Xin WANG 2017 Singapore Management University

Ceo Contractual Protection And Debt Contracting, Qiang Cheng, Xia Chen, Alvis K. Lo, Xin Wang

Research Collection School Of Accountancy

CEO employment agreements and severance pay agreements are prevalent among S&P1500 firms. While prior research has examined their impact on corporate decision from shareholders’ perspective, there is little research on their impact from debtholders’ perspective. We examine the effect on debt contracting of CEO contractual protection, in the form of employment agreements and severance pay agreements. We find that compared with other loans, loans issued by firms with CEO contractual protection contain more financial covenants, particularly performance covenants, are more likely to have performance pricing provisions, and have higher loan spreads. We further find that this effect increases with ...


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