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Full-Text Articles in Business
Fraud In Small Businesses: A Preliminary Study, Esther Bunn, Jack Ethridge, Kaili Crow
Fraud In Small Businesses: A Preliminary Study, Esther Bunn, Jack Ethridge, Kaili Crow
Faculty Publications
This study investigates the attitudes small business owners and managers have towards fraud and internal controls. Commonly small businesses consist of long-term friends and relatives and tend to embody a culture of family, love, and trust. Four factors were identified that lend themselves to a lack of internal controls and a breeding ground for fraud. A survey was distributed to small business owners and management. The responses were analyzed and compared to the data in the 2016 American Certified Fraud Examiners Report to the Nations. Of the four expectations studied, only the anticipated results of Expectation 1 were confirmed.
Closing Pandora’S Box: Reducing Student Confusion With A Process Costing Simulation, Marie Kelly, Nikki Shoemaker
Closing Pandora’S Box: Reducing Student Confusion With A Process Costing Simulation, Marie Kelly, Nikki Shoemaker
Faculty Publications
This paper describes a classroom Process Costing simulation that can be used in both introductory managerial accounting and cost accounting courses in order to help students better understand the principles of process costing and how to apply these principles to a problem. In groups, students work to manufacture candy necklaces for a set amount of time. After the manufacturing time has ended, students work together to determine equivalent units of production, cost per equivalent unit, and total costs for the period. Subsequently, a final class discussion provides opportunities for differences between groups to be discussed and any additional questions to …
Lumberjack Construction: Job-Order Costing & Manufacturing Simulation, Marie Kelly, Nikki Shoemaker
Lumberjack Construction: Job-Order Costing & Manufacturing Simulation, Marie Kelly, Nikki Shoemaker
Faculty Publications
This paper describes a classroom Job-Order Costing and manufacturing simulation called Lumberjack Construction. This simulation is used in introductory managerial accounting and cost accounting courses to help students understand the various parts of the manufacturing process and the application of Job-Order Costing principles. For this simulation, students are placed into manufacturing groups. Each group is responsible for manufacturing a building and calculating the cost of that building using job-order costing.
Using Option Theory To Determine Optimal Ira Investment, Treba Marsh, Todd A. Brown, Mary Fischer
Using Option Theory To Determine Optimal Ira Investment, Treba Marsh, Todd A. Brown, Mary Fischer
Faculty Publications
Given the current uncertain economic trends, the decision to contribute to a personal retirement account can be a financial challenge taking a great deal of courage. Using the option theory, this paper presents arguments to justify the optimal contribution to maximize an IRA investment return.
Rodeo In The Classroom: Activity Based Costing Simulation, Nikki Shoemaker, Marie Kelly
Rodeo In The Classroom: Activity Based Costing Simulation, Nikki Shoemaker, Marie Kelly
Faculty Publications
This paper describes a classroom Activity Based Costing simulation called Rodeo in the Classroom. This simulation has been used in several introductory managerial accounting and cost accounting courses in order to help students understand the difference in the application of overhead between Job Order Costing and Activity Based Costing methods. Each student is assigned their own rodeo simulation and must calculate its cost using specific cost drivers. To verify their calculations, students with the same rodeos are grouped together to compare costs. Final rodeo costs are presented to the class where differences in cost allocations and reasons for these differences …
The Impact Of Corruption On Firm Tax Compliance In Transition Economies: Whom Do You Trust?, Anna Alon, Amy M. Hageman
The Impact Of Corruption On Firm Tax Compliance In Transition Economies: Whom Do You Trust?, Anna Alon, Amy M. Hageman
Faculty Publications
Tax compliance is an important issue for governments and the public alike. To meet public needs and fund public mandates, firms around the world are expected to comply with tax laws. Factors that are related to organizational (firm) tax compliance have not been sufficiently examined in the literature. Due to the increasing global influence of transition economies, factors associated with firm tax compliance in transition economies are particularly of interest. Based on a sample of over 5,000 firms from 22 former Soviet Bloc transition economies, we find that higher levels of corruption and higher levels of particularized trust (reliance on …
The Macroeconomic News Cycle And Uncertainty Resolution, Arjun Chatrath, Rohan Christie-David, William T. Moore
The Macroeconomic News Cycle And Uncertainty Resolution, Arjun Chatrath, Rohan Christie-David, William T. Moore
Faculty Publications
We examine the behavior of return volatility and trading at 5-minute intervals in the treasury bond futures market in the context of the monthly macroeconomic news cycle. We advance and confirm the hypothesis that volatility and trading activity are higher in the first half of the month. The data indicate that these patterns arise from at least two sources: (1) a higher level of uncertainty regarding the value of news in announcements in the first half of the month, and (2) improvement in efficiency of macroeconomic forecasts from the first to the second half of the month.
The Value Of Open Market Repurchases Of Closed-End Fund Shares, Gary E. Porter, Rodney L. Roenfeldt, Neil W. Sicherman
The Value Of Open Market Repurchases Of Closed-End Fund Shares, Gary E. Porter, Rodney L. Roenfeldt, Neil W. Sicherman
Faculty Publications
The authors illustrate the value to shareholders when closed-end funds repurchase shares at a discount from net asset value. Repurchases increase share price even when there is no asymmetric information concerning the value of the underlying assets and the percentage discount remains unchanged following the repurchase. Expected gains to shareholders are derived from capturing the discount on the assets associated with the shares repurchased. In an analysis of 27 open market repurchase announcements by closed-end funds, the regression coefficient estimate that measures the association between the actual excess return and the expected increase in share price is essentially 1.0.
On The Information Content Of Calls Of Convertible Securities, Anthony K. Byrd, William T. Moore
On The Information Content Of Calls Of Convertible Securities, Anthony K. Byrd, William T. Moore
Faculty Publications
Negative stock price reactions to conversion-forcing calls of convertible bonds and preferred stocks are reexamined, and most of the sample firms are shown to exhibit full price recovery by the end of the conversion period. In addition, analysts' earnings forecasts, both short-term and long-term, are found to be revised upward following call announcements for convertible bonds and preferred stocks. The combined findings cast doubt on the established belief that such capital structure decisions signal negative information about firm value.
Liquidity Costs And Stock Price Response To Convertible Security Calls, Michael A. Mazzeo, William T. Moore
Liquidity Costs And Stock Price Response To Convertible Security Calls, Michael A. Mazzeo, William T. Moore
Faculty Publications
Firms' announcements to call in-the-money convertible securities for redemption essentially force their conversion into common stock, and such announcements are generally met with significant reductions in the calling firms' equity values. An explanation based on liquidity costs is advanced and tested. The explanation implies that investors who choose to sell their shares early in the conversion period bear liquidity costs by selling at reduced prices. Consistent with the explanation, the average share price decline is short-lived, lasting most of the conversion period. Thus, a component of the call announcement effect appears to be due to liquidity costs.
A Note On Equivalence In Ranking Investments, Steven H. Bullard
A Note On Equivalence In Ranking Investments, Steven H. Bullard
Faculty Publications
Present net worth, benefit/cost, and internal rate of return are considered for ranking investments. In some cases, rankings can be contradictory, and the investment criterion can influence inter-project allocations. There are situations, however, when ranking equivalence is assured. In this article, conditions for equivalence in ranking investments are presented using simple graphics and algebra. The conditions are restrictive, and can be effective in demonstrating the need for discretion in selecting an economic criterion for evaluating investments.
Interdependence Of Market Risk Measures, Philip L. Cooley, Rodney L. Roenfeldt, Naval K. Modani
Interdependence Of Market Risk Measures, Philip L. Cooley, Rodney L. Roenfeldt, Naval K. Modani
Faculty Publications
No abstract provided.