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Finance and Financial Management
Department of Accounting and Finance Faculty Scholarship and Creative Works
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- Audit evidence (2)
- Big data (2)
- Acquisitions (1)
- Audit analytics (1)
- Audit automation (1)
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- Auditing (1)
- Board elections (1)
- Borsa Istanbul (1)
- Business analytics (1)
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- CEO Water Mandate (1)
- Call auction (1)
- Continuous auditing (1)
- Corporate focus (1)
- Corporate social responsibility reports (1)
- Culture (1)
- Discontinued operations (1)
- Drones (1)
- Earnings Announcements (1)
- Earnings Surprises (1)
- Earnings quality (1)
- Emerging countries (1)
- Emerging markets (1)
- Enterprise systems (1)
- External audit (1)
- Foreign capital flows (1)
- Formal concept analysis (1)
- Global Reporting Initiative (1)
- Globalization (1)
- Industry Competition (1)
Articles 1 - 11 of 11
Full-Text Articles in Business
Intraday Volatility And The Implementation Of A Closing Call Auction At Borsa Istanbul, A. Can Inci, Deniz Ozenbas
Intraday Volatility And The Implementation Of A Closing Call Auction At Borsa Istanbul, A. Can Inci, Deniz Ozenbas
Department of Accounting and Finance Faculty Scholarship and Creative Works
The implementation of a closing call auction on market quality and volatility is examined at Borsa Istanbul in Turkey. Using 5- and 15-minute intervals, we document the accentuated volatility after the open and before the close during the morning and afternoon sessions. We show that the implementation of a closing call decreases volatility accentuation just prior to the market close, and increases market quality. We also document the evolution of intraday volatility patterns at Borsa Istanbul using the longest to date high frequency dataset available, and show that volatility has been increasing over time, especially at the close.
Foreign Capital Flows, Uncertainties Of Exchange Rates And Central Bank Independence: Implications For Emerging Economies, Hermann Sintim-Aboagye, Chandana Chakraborty, Serapio Byekwaso
Foreign Capital Flows, Uncertainties Of Exchange Rates And Central Bank Independence: Implications For Emerging Economies, Hermann Sintim-Aboagye, Chandana Chakraborty, Serapio Byekwaso
Department of Accounting and Finance Faculty Scholarship and Creative Works
Utilizing time series data for a panel of 22 emerging countries and applying Granger causality tests, this paper extends the relationship between central bank independence (CBI) and uncertainties of inflation by including the phenomena of exchange rates and foreign capital flows. There are two specific objectives of this investigation. The first objective is to see whether uncertainty of inflation induces volatility of exchange rates, and vice versa, under differing degrees of CBI. The second objective is to explore whether the dynamics of the former relationship influence foreign capital flows in turn and, if so, whether the extent of CBI plays …
Big Data And Analytics In The Modern Audit Engagement: Research Needs, Deniz Appelbaum, Alexander Kogan, Miklos A. Vasarhelyi
Big Data And Analytics In The Modern Audit Engagement: Research Needs, Deniz Appelbaum, Alexander Kogan, Miklos A. Vasarhelyi
Department of Accounting and Finance Faculty Scholarship and Creative Works
Modern audit engagements often involve examination of clients that are using Big Data and analytics to remain competitive and relevant in today’s business environment. Client systems now are integrated with the cloud, the Internet of Things, and external data sources such as social media. Furthermore, many engagement clients are now integrating this Big Data with new and complex business analytical approaches to generate intelligence for decision making. This scenario provides almost limitless opportunities and the urgency for the external auditor to utilize advanced analytics. This paper first positions the need for the external audit profession to move toward Big Data …
Using Formal Concept Analysis To Examine Water Disclosure In Corporate Social Responsibility Reports, Gary Kleinman, Chu Hua Kuei, Picheng Lee
Using Formal Concept Analysis To Examine Water Disclosure In Corporate Social Responsibility Reports, Gary Kleinman, Chu Hua Kuei, Picheng Lee
Department of Accounting and Finance Faculty Scholarship and Creative Works
Corporate social responsibility (CSR) water disclosures vary in content, leading to concern about the quality and extent of such disclosures. This paper employs formal concept analysis (FCA) to examine water reporting of selected companies in the US food and beverage industry that have followed the water guidelines set forth by the Global Reporting Initiative (GRI) and in the disclosure guidelines of the CEO Water Mandate. Assessments of water consumption and water withdrawal were cited more often in our sample firms' CSR reports. FCA results also identify the major focus of our sample firms as setting sustainable water management goals and …
Refocusing Through Discontinued Operations In Response To Acquisitions And Diversification, Richard Lord, Yoshie Saito
Refocusing Through Discontinued Operations In Response To Acquisitions And Diversification, Richard Lord, Yoshie Saito
Department of Accounting and Finance Faculty Scholarship and Creative Works
We examine how prior acquisitions and the extent of corporate diversification affect decisions to discontinue operations. These choices comprise a very important class of publicly announced disposal decisions, and analyzing them allows us to utilize a much larger sample than most prior studies of divestitures. We employ a multinomial logistic regression setting to test our three hypotheses; this framework allows us to assess the difference in choices regarding positive- and negative-valued announcements of discontinued operations. We find that firms are less liable to report negative-valued divestitures in the year of an acquisition, and are more likely to discontinue operations, especially …
Impact Of Business Analytics And Enterprise Systems On Managerial Accounting, Deniz Appelbaum, Alexander Kogan, Miklos Vasarhelyi, Zhaokai Yan
Impact Of Business Analytics And Enterprise Systems On Managerial Accounting, Deniz Appelbaum, Alexander Kogan, Miklos Vasarhelyi, Zhaokai Yan
Department of Accounting and Finance Faculty Scholarship and Creative Works
The nature of management accountants' responsibility is evolving from merely reporting aggregated historical value to also including organizational performance measurement and providing management with decision related information. Corporate information systems such as enterprise resource planning (ERP) systems have provided management accountants with both expanded data storage power and enhanced computational power. With big data extracted from both internal and external data sources, management accountants now could utilize data analytics techniques to answer the questions including: what has happened (descriptive analytics), what will happen (predictive analytics), and what is the optimized solution (prescriptive analytics). However, research shows that the nature and …
Using Drones In Internal And External Audits: An Exploratory Framework, Deniz Appelbaum, Robert A. Nehmer
Using Drones In Internal And External Audits: An Exploratory Framework, Deniz Appelbaum, Robert A. Nehmer
Department of Accounting and Finance Faculty Scholarship and Creative Works
Recently the FAA relaxed restrictions on the use of drones or Unmanned Aircraft Systems (UASs) for commercial purposes. Markets for commercial drone use are in the technology trigger phase of the Gartner Group’s Hyper Cycle, with developments occurring rapidly in real estate, agriculture (farming), the film industry, insurance, and other areas. Examination and inspection applications of drones have been proposed in heavy industry and cell tower inspection. Previous research suggests an incremental structure for implementing technological innovations such as continuous auditing (CA). In this paper these proposals are expanded to include the additional requirements to add drone technologies. This structure …
Audit Regulation In An International Setting: Testing The Impact Of Religion, Culture, Market Factors, And Legal Code On National Regulatory Efforts, Gary Kleinman, Beixin Lin
Audit Regulation In An International Setting: Testing The Impact Of Religion, Culture, Market Factors, And Legal Code On National Regulatory Efforts, Gary Kleinman, Beixin Lin
Department of Accounting and Finance Faculty Scholarship and Creative Works
Assuring the quality of international auditing is important in the current, globalized business/economic environment. High-quality international auditing efforts promote greater confidence in financial statements, and therefore promote greater movement of capital. Ensuring high-quality auditing efforts is the task of auditing regulation efforts, among others. Several potential determinants of the strength of these efforts were postulated in Kleinman et al (2014). The postulated determinants of interest include national culture, religion, legal code origin, and financial market liquidity. The authors, however, did not test the relationship of the postulated determinants to auditing enforcement efforts. This study undertakes the task of investigating such …
The Information Content Of Dividend Initiation Announcements: The Case Of Information Technology Firms, Susana Yu, Gwendolyn Webb
The Information Content Of Dividend Initiation Announcements: The Case Of Information Technology Firms, Susana Yu, Gwendolyn Webb
Department of Accounting and Finance Faculty Scholarship and Creative Works
Purpose: The purpose of this paper is to examine the dividend initiation announcements made by firms in the information technology sector as defined in a modern system of industrial classification. Design/methodology/approach: On the basis of a modern classification of the information technology industry, the authors examine a wide range of corporate performance and management measures to discriminate between the two theories of the information revealed by the announcement of dividend initiations, the signaling, and life cycle theories. Findings: The empirical results are more consistent with the corporate life cycle theory of dividends than with the information signaling hypothesis. This finding …
Market Adaptation To Regulation Fair Disclosure: The Use Of Industry Information To Enhance The Informational Environment, Susana Yu, Gwendolyn Webb
Market Adaptation To Regulation Fair Disclosure: The Use Of Industry Information To Enhance The Informational Environment, Susana Yu, Gwendolyn Webb
Department of Accounting and Finance Faculty Scholarship and Creative Works
Our fundamental research interest is in exploring the ways in which the financial markets have adapted to Reg FD, and our particular focus is on how market participants use industry information embedded in firms’ earnings announcements. We find that announcements of quarterly earnings made by companies that are the first in their industry to report in a given quarter have significant effects on the stock returns of other firms in the same industry as well as on their own stock returns. We then test the implications of these findings for their effects on the information environment. Overall, our empirical findings …
Do Non-Staggered Board Elections Matter To Earnings Quality And The Value Relevance Of Earnings And Book Value?, Shuling Chiang, Gary Kleinman, Picheng Lee
Do Non-Staggered Board Elections Matter To Earnings Quality And The Value Relevance Of Earnings And Book Value?, Shuling Chiang, Gary Kleinman, Picheng Lee
Department of Accounting and Finance Faculty Scholarship and Creative Works
Purpose: The purpose of this paper is to examine the impact of non-staggered voting for members of the board of directors on earnings quality and the value relevance of earnings and book value. Design/methodology/approach: The authors used a sample of Taiwanese firms whose board was elected as a whole every three years from 2003 to 2013. The authors used multiple regression analysis to test whether board of directors elections and corporate governance affected earnings quality and the value relevance of earnings and book value. Findings: The authors found that elections led to lower earnings quality, but better corporate governance led …