The Mediating Effects Of Perceived Value Between The Relationship Of Social Media Marketing And Purchase Intention,
2022
Holy Angel University
The Mediating Effects Of Perceived Value Between The Relationship Of Social Media Marketing And Purchase Intention, Tyron W. Yap
DLSU Business & Economics Review
The objective of this study is to test the mediating role of the dimensions of perceived value—conditional, epistemic, monetary, social, convenience, and emotional—between the relationship of social media marketing and purchase intention, in online hotel booking sites. Partial least square structural equation modeling (PLS-SEM) was employed to test all 19 hypotheses. Results revealed that social media marketing positively and significantly influences the dimensions of perceived value, as well as purchase intention. Also, convenience value and conditional value are positively and significantly related to purchase intention. In terms of the mediating effects, it was found that both convenience value and conditional …
Impact Of Cooperative Membership On Technical Efficiency And Marketing Efficiency: The Case Of Dairy Buffalo Farmers In The Philippines,
2022
University of the Philippines Los Banos
Impact Of Cooperative Membership On Technical Efficiency And Marketing Efficiency: The Case Of Dairy Buffalo Farmers In The Philippines, Ceptryl S. Mina, Agham C. Cuevas
DLSU Business & Economics Review
Collective action by smallholder farmers through cooperative membership is regarded as one of the approaches to overcome production and marketing inefficiencies. This study investigates the impact of cooperative membership on the technical efficiency (TE) and marketing efficiency (ME) of dairy buffalo farmers in the Philippines. A total of 351 (249 cooperative members and 102 non-cooperative members) randomly selected farmers from Regions II, III, IV-A, and VII were interviewed. Using cross-sectional farm household data of dairy buffalo farmers, technical and marketing efficiencies were estimated. Linear regression with endogenous treatment was performed to determine the impact of cooperative membership on the TE …
Are Emotionally Stable Employees More Ready To Change? The Moderating Role Of Emotional Stability On The Effect Of Organizational Culture Types On Individual Readiness For Change,
2022
National Chengchi University, Taiwan, Universitas Diponegoro, Indonesia
Are Emotionally Stable Employees More Ready To Change? The Moderating Role Of Emotional Stability On The Effect Of Organizational Culture Types On Individual Readiness For Change, Aktsar Hamdi Tsalits, Gugup Kismono, Luksi Visita, Dian Eka Mayasari
DLSU Business & Economics Review
Organizational culture is suggested as a significant predictor of individual readiness for change (IRFC). However, few studies examining the effect of organizational culture types on individual readiness for change showed inconsistent results. This study aims to fill the gap, specifically by testing the moderating effect of emotional stability on the effect of perceived organizational culture types (clan and adhocracy) on individual readiness for change. We obtained 264 responses from employees who worked at the SM Company, one of the companies in Indonesia that performed a change in the company. Results of moderated regression analysis on the collected data indicate support …
Brokerage Relationships And Analyst Forecasts: Evidence From The Protocol For Broker Recruiting,
2022
University of Georgia
Brokerage Relationships And Analyst Forecasts: Evidence From The Protocol For Broker Recruiting, Braiden Coleman, Michael S. Drake, Joseph Pacelli, Brady Twedt
Faculty Publications
We offer novel evidence on how the nature of brokerage-client relationships can influence the quality of equity research. We exploit a unique setting provided by the Protocol for Broker Recruiting to examine whether relaxed broker noncompete agreement enforcement generates spillover effects on sell-side analysts. Entry into this agreement reassigns ownership of the client relationship from the brokerage to individual brokers, potentially generating a greater standard of care. Using a generalized difference-in-differences research design, we provide evidence consistent with brokers reducing pressure on analysts to produce optimistic research following protocol entry. This effect is concentrated among less experienced and non-All Star …
Fool Me Once, Shame On You; Fool Me Twice, Shame On Me: The Long-Term Impact Of Arthur Andersen’S Demise On Partners’ Audit Quality*,
2022
Iowa State University
Fool Me Once, Shame On You; Fool Me Twice, Shame On Me: The Long-Term Impact Of Arthur Andersen’S Demise On Partners’ Audit Quality*, Feng Guo, Ling Lei Lisic, Jeffrey Pittman, Timothy Seidel, Mi Zhou, Ying Zhou
Faculty Publications
Although recent evidence suggests that individual audit partners explain a substantial portion of the variation in audit quality proxies, much less is known about what determines an audit partner’s quality. Psychology and behavioral economics theories hold that an individual’s experiences can have enduring impacts on subsequent behavior. We examine whether auditors’ direct exposure to Arthur Andersen’s collapse has a long-term impact on the quality of their audits. Our evidence implies that audit partners who directly experienced Andersen’s demise impose stricter monitoring evident in their clients exhibiting a lower propensity for misstatements and small profits, and paying higher audit fees. Importantly, …
Tax Boycotts,
2022
University of Iowa
Tax Boycotts, H. Scott Asay, Jacob Thornock, Jeffrey L. Hoopes, Jaron H. Wilde
Faculty Publications
To what extent do consumers boycott in response to corporate tax activities? Anecdotes suggest potential consumer backlash is a meaningful deterrent to corporate tax planning, and the tax literature has developed expectations that these boycotts happen. But empirical evidence on their existence and impact is limited. We undertake a comprehensive study to examine how consumers’ purchase behavior relates to corporate tax activities, triangulating across several designs, samples, and measures. First, we survey a representative sample of U.S. consumers to examine the reported relationship between corporate tax planning and consumer behavior; we find that consumers report that precisely zero have ever …
Discussion Of ‘The Effect Of Changes In Income Shifting On Affiliate Managers’ Internal Reporting Decisions,
2022
Brigham Young University - Provo
Discussion Of ‘The Effect Of Changes In Income Shifting On Affiliate Managers’ Internal Reporting Decisions, Zackery D. Fox, Ryan J. Wilson
Faculty Publications
Klassen and Valle Ruiz (hereafter KVR) investigate an interesting question that has not been explored in existing research. Specifically, they look at the effect of a change in income shifting strategy on affiliate managers’ internal reporting choices. The paper adds to a growing category of the tax accounting literature examining the consequences of multinational enterprises (MNEs) tax-motivated income shifting for various stakeholders. KVR turn their focus within the firm by testing whether distortions caused by tax-motivated income shifting alter affiliate managers’ internal reporting behavior.
The Relevance Of Non-Income Tax Relief*,
2022
Brigham Young University - Provo
The Relevance Of Non-Income Tax Relief*, Michael S. Drake, Ryan V. Hess, Jaron H. Wilde, Braden M. Williams
Faculty Publications
Governments regularly offer non-income tax relief to attract business investment. However, it is unclear whether or how markets impound information about the relief into security prices. We use novel data from retrospective public records to examine the information content of non-income tax relief. We predict and find that the receipt and magnitude of this relief are both strongly associated with recipients’ future accounting performance and future abnormal returns. We further find that abnormal returns associated with the relief cluster around future earnings information events. In combination, this evidence suggests that non-income tax relief is value-relevant but is incorporated into prices …
Balance Sheet Strength: A Retrospective Analysis Of Corporate Liquidity And Solvency And Firm Stock Returns,
2022
Claremont Colleges
Balance Sheet Strength: A Retrospective Analysis Of Corporate Liquidity And Solvency And Firm Stock Returns, Andrew Wraith
CMC Senior Theses
The onset COVID-19 Pandemic caused rippling effects throughout the global economy. Social distancing and stay at home orders shifted consumer demand, as the firmwide impact of these same policies led to supply chain shortages. The COVID-19 Pandemic induced a recession in 2020 that was unique from all others in US history. Throughout the beginning months of the Pandemic, firms rushed to raise debt, equity, and lines of credit, as public financing markets experienced increased volatility. How did the markets adapt to this sudden change? I examine the effect on stock returns of firmwide Balance Sheet strength as it changed throughout …
Strategies To Manage Reduced Demand Among Mattress Manufacturers In Puerto Rico,
2022
Walden University
Strategies To Manage Reduced Demand Among Mattress Manufacturers In Puerto Rico, Damaris Rivera Perez
Walden Dissertations and Doctoral Studies
The COVID-19 pandemic reduced consumer demand in Puerto Rico, resulting in manufacturing jobs decreasing from 76,000 in March 2020 to 72,600 in August 2020, and the PMI decreasing falling from 50.5 to 48.1 in the same period. Owners of mattress manufacturing firms in Puerto Rico who lack strategies to increase consumer demand risk financial losses. Grounded in the strategic management theory, the purpose of this qualitative multiple case study was to explore strategies owners of mattress manufacturing firms in Puerto Rico use to increase demand for mattresses. The participants included three owners of mattress manufacturing firms in Puerto Rico who …
Strategies For Developing And Implementing Internal Controls For Mitigating Retail Consumer Fraud,
2022
Walden University
Strategies For Developing And Implementing Internal Controls For Mitigating Retail Consumer Fraud, Anna Marie Foye
Walden Dissertations and Doctoral Studies
The lack of consumer fraud internal controls can destroy a small business. Small retail business owners who do not practice good internal controls are susceptible to early failure. Using the fraud triangle theory, the purpose of this qualitative multiple case study was to explore strategies small retail business owners use to develop and implement internal controls for mitigating retail consumer fraud. Participants consisted of four small retail business owners in the Southeastern United States who practiced effective internal controls. Data were collected from semistructured interviews and financial documents and analyzed using thematic analysis. Three themes emerged: financials, monitoring, and segregation …
Strategies For Improving The Effectiveness Of Internal Control Processes In Nonprofit Organizations,
2022
Walden University
Strategies For Improving The Effectiveness Of Internal Control Processes In Nonprofit Organizations, Annie Selorm Dumoga
Walden Dissertations and Doctoral Studies
Some leaders of nonprofit organizations (NPOs) lack financial strategies to develop and implement effective internal controls for their financial health and the continuation of their organizations’ provision of humanitarian services. The failure of leaders in NPOs to implement adequate internal controls results in insolvency, the inability to pay off debts, and threatens the ability to provide needed social services. Grounded in the Committee of Sponsoring Organization's internal control integrated framework, the purpose of this qualitative multiple case study was to explore strategies NPO leaders used to develop and implement effective internal controls for their organization's financial health and ability to …
Impact Of Covid-19 On Sectoral Stock Prices: An Event Study Based On Us Stock Market,
2022
COMSATS University Islamabad, Pakistan
Impact Of Covid-19 On Sectoral Stock Prices: An Event Study Based On Us Stock Market, Nasir Nadeem, Ghulam Mujtaba Kayani, Imran Abbas Jadoon
Business Review
The impact of COVID-19 on stock prices of different United States economic sectors is examined using event study methodology. Results revealed that the first confirmed case in US on January 21, 2020 was underestimated by investors and did not disturb stock prices significantly. However, the first local transmission case on February 26, 2020 hit the stock market in the post event window. Due to this event, the stock prices of industries in energy, financials, industrials, real estate and utilities sectors declined but observed price increases in health care, information technology and telecom services industries. First “stay at home” order issued …
Corporate Values Of Tribally Owned Companies,
2022
Central Washington University
Corporate Values Of Tribally Owned Companies, Halle Hull
All Master's Theses
In this study I examine the corporate values of tribally owned companies in Washington State and compare them with non-native businesses in the same or similar industries. The research objective is to examine the ways in which Washington native businesses integrate native cultural values into their mission and corporate structure. I have developed keywords that follow the themes of spiritual/societal, community, and environmental, and I found that tribally owned companies include these keywords more frequently than non-tribally owned companies. This integration of cultural values, stated corporate mission, and corporate structure, is an area of potential superior performance compared to alternative …
Forward-Looking Disclosures And Accounting Information In Equity Crowdfunding Firms,
2022
University of Kentucky
Forward-Looking Disclosures And Accounting Information In Equity Crowdfunding Firms, Evisa Bogdani
Theses and Dissertations--Accountancy
Forward-looking disclosures (FLDs) play a critical role in traditional capital markets. However, evidence of their usefulness in settings with weak information environments, little to no operating history, nonprofessional investors, and lighter regulation is limited. This study sheds light on this critical issue and finds that FLDs are useful disclosures for raising capital in equity crowdfunding (ECF), and the presence of accounting information enhances FLDs relevance. I find that firms disclosing more FLDs raise more capital and attract a greater number of investors. More investors contribute to firms that disclose more quantitative FLDs, especially when the disclosures are accompanied by reviewed …
An Experimental Investigation Of Auditors' Evidence Evaluation And Work Ownership In A Compartmentalized Test Of Details Setting,
2022
University of Kentucky
An Experimental Investigation Of Auditors' Evidence Evaluation And Work Ownership In A Compartmentalized Test Of Details Setting, Christopher Pearson
Theses and Dissertations--Accountancy
Psychological ownership theory suggests that auditors are more likely to exert effort when they feel a sense of personal ownership of the audit. Ongoing trends towards a more compartmentalized and decentralized audit, however, may impair auditors’ work ownership by decreasing their interaction with work, as well as by discouraging engagement with work performed by colleagues. In two experiments, I test the effects of audit work compartmentalization, where I consider whether auditors’ evaluation of evidence is affected by the source of the sample to which evidence is related. Findings from my first experiment indicate lower performance when auditors evaluate evidence that …
Earnings Virality*,
2022
Yale University
Earnings Virality*, Brett Campbell, Michael S. Drake, Jacob Thornock, Brady Twedt
Faculty Publications
We examine the determinants and market consequences associated with earnings announcements going viral on social media, a phenomenon we label “earnings virality.” Using a comprehensive panel of historical Twitter data, we find that the typical earnings announcement receives relatively little social media coverage, but others go viral on social media, quickly reaching the feeds of millions of people. We find that viral earnings announcements generally have Twitter content that is more extreme in tone and contains less unique content. Further, earnings virality is positively associated with revenue surprises, investor recognition, retail investor ownership, and retail investor trading around the announcement. …
Brokerage House Ipos And Analyst Forecast Quality,
2022
Boston College
Brokerage House Ipos And Analyst Forecast Quality, Mark Bradshaw, Michael S. Drake, Joseph Pacelli, Brady Twedt
Faculty Publications
We examine how brokerage firm IPOs influence the research quality of sell-side analysts employed by the brokerage. Our main results focus on earnings forecast bias and absolute forecast errors as proxies for research quality. Using a staggered difference-in-differences analysis, we document significant decreases in forecast bias and absolute forecast error during the two-year period centered on the analysts’ brokerage house IPO. In additional analyses, we explore several potential explanations for the short-term benefits of brokerage house IPOs. We find some evidence that IPOs delay the departure of more talented analysts and that the effects are more concentrated among analysts and …
Social Media Analysts And Sell‑Side Analyst Research,
2022
Brigham Young University - Provo
Social Media Analysts And Sell‑Side Analyst Research, Michael S. Drake, James R. Moon Jr., Brady J. Twedt, James D. Warren
Faculty Publications
We examine how research posted by “social media analysts” (SMAs)—individuals posting equity research online via social media investment platforms—is related to research subsequently produced by professional sell-side equity analysts. Using data from Seeking Alpha, we find that the market reaction to sell-side analyst research is substantially reduced when the analyst research is preceded by the report of an SMA, and that this is particularly true of sell-side analysts’ earnings forecasts. We further find that this effect is more pronounced when SMA reports contain more decision-useful language, are produced by SMAs with greater expertise, and relate to firms with greater retail …
A Tale Of Two Index Funds: Full Replication Vs. Representative Sampling*,
2022
Brigham Young University - Provo
A Tale Of Two Index Funds: Full Replication Vs. Representative Sampling*, Travis Dyer, Nicholas Guest
Faculty Publications
We examine the two approaches used by equity index funds to track their benchmark index. The first, full replication, mimics the index with exactness. The second, representative sampling, holds a subset of the index. We find that samplers trade 3-4 times more, have 30-50% higher expenses and fees, and earn 50-70 basis points lower annual returns, which is substantial given index funds’ mandate to limit tracking error to a few basis points. Besides higher expenses and transaction costs, poor stock picking also seems to contribute to samplers’ return underperformance. Overall, our analyses suggest representative sampling is associated with underperformance.
