The Media And Mispricing: The Role Of The Business Press In The Pricing Of Accounting Information,
2014
Brigham Young University - Provo
The Media And Mispricing: The Role Of The Business Press In The Pricing Of Accounting Information, Michael S. Drake, Nicholas M. Guest, Brady J. Twedt
Faculty Publications
This study investigates the role of the business press in the pricing of accounting information. Using a comprehensive dataset of more than 111,000 earnings-related business press articles published from 2000–2010, we find that press coverage of the annual earnings announcement mitigates cash flow mispricing, but has a negligible effect on accrual mispricing. We provide evidence that this impact is driven primarily by the press disseminating the information more broadly, rather than by the creation of new content that helps investors understand the implications of accounting information. Our results suggest that the business press plays an important role in facilitating the …
The Reputational Costs Of Tax Avoidance*,
2014
University of Chicago
The Reputational Costs Of Tax Avoidance*, John Gallemore, Edward L. Maydew, Jacob Thornock
Faculty Publications
This study investigates whether firms and their top executives bear reputational costs from engaging in aggressive tax avoidance activities. At least two decades of empirical tax research has shown that firms engage in a wide range of strategies for tax avoidance purposes. 1 Recent studies suggest that for many firms, tax avoidance appears to be highly effective at reducing the firms’ tax payments and increasing their after-tax earnings. For example, Dyreng, Hanlon, and Maydew (2008) find that more than a quarter of publicly traded U.S. firms are able to reduce their taxes to less than 20 percent of their pre-tax …
Trust And Financial Reporting Quality,
2014
Bentley University
Trust And Financial Reporting Quality, Jace Garrett, Rani Hoitash, Douglas F. Prawitt
Faculty Publications
Using unique survey data from Great Place to Work R Institute, we investigate the association of intraorganizational trust (i.e., employees’ trust in management) with three aspects of financial reporting: accruals quality, misstatements, and internal control quality. We find that trust is associated with better accrual quality, lower likelihood of financial statement misstatements, and lower likelihood of internal control material weakness disclosures. However, these effects are not uniform across all companies. Consistent with trust improving financial reporting quality through improved information production and information sharing, we find that trust is significantly associated with financial reporting quality in relatively decentralized firms, but …
Editor's Note,
2014
De La Salle University, Manila, Philippines
An Analysis Of The Structure And Dynamics Of The Philippine Macroeconomy: Results From A Dsge-Based Estimation,
2014
De La Salle University, Manila, Philippines
An Analysis Of The Structure And Dynamics Of The Philippine Macroeconomy: Results From A Dsge-Based Estimation, Ruperto P. Majuca
DLSU Business & Economics Review
I use Bayesian methods to estimate a medium-scale closed economy dynamic stochastic general equilibrium (DSGE) model for the Philippine economy. Bayesian model selection techniques indicate that among the frictions introduced in the model, the investment adjustment costs, habit formation, and the price and wage rigidity features are important in capturing the dynamics of the data, while the variable capital utilization, fixed costs, and the price and wage indexation features are not important. I find that the Philippine macroeconomy is characterized by more instability than the U.S. economy. An analysis of the several subperiods in Philippine economic history also reveals some …
Liberalizing The Philippine Mining Industry: A Cge Approach Into Analyzing Its Sectoral Impacts On The Economy,
2014
Maison Sciences Des Economiques, Universite Paris 1- Pantheon-Sorbonne
Liberalizing The Philippine Mining Industry: A Cge Approach Into Analyzing Its Sectoral Impacts On The Economy, Jesus Carlos Exequiel D. Castillo, Krista Danielle S. Yu
DLSU Business & Economics Review
The mining industry in the Philippines was once a promising venture that could contribute to the growth of output in the economy. Numerous legislations in support of mining in the Philippines that were passed through the years have proven ineffective in spurring development in the industry. Despite the spotted history of mining in the Philippines, the rising prices of precious metals in the world would seem that mining as a venue for output is as lustrous as ever. Due to the economic downturn in the mid 2000s, the markets turned their attention back to heavy investments in metals, causing most …
Martingales In Floating Asean+3 Currencies*,
2014
De La Salle University, Manila, Philippines
Martingales In Floating Asean+3 Currencies*, Cesar C. Rufino
DLSU Business & Economics Review
The martingale properties of the floating exchange rates of the ASEAN+3 region are analyzed in this study using contemporary (2000 to 2012) weekly data of inter-bank call rates. The main goal of the analysis is to see if informational efficiency is a feature floating (managed or independently floating) currencies in this coalition of countries still possess despite the current credit crisis and other economic shocks during the period. Employing relevant state-of-the-art econometric techniques, the study sets to empirically determine the presence of two important ingredients of informationally efficient market—the existence of the unit root component and the presence of uncorrelated …
Estimating The Efficiency Of Philippine Public High Schools Using Spatio-Temporal Stochastic Frontier Analysis,
2014
Philippine Institute for Development Studies, Philippines
Estimating The Efficiency Of Philippine Public High Schools Using Spatio-Temporal Stochastic Frontier Analysis, Michael Ralph M. Abrigo, Rouselle F. Lavado, Erniel B. Barrios, Brian C. Gozun
DLSU Business & Economics Review
This paper proposes a method for modeling production function of education using a stochastic frontier model with spatial temporal terms. Using a unique dataset that combines school achievement scores with school characteristics from 2005-2008, the efficiency of 4,900 public high schools in the Philippines in converting school inputs into test scores was estimated. Results show that the average inefficiency is at 41% and that there is a significant positive spatial externality in efficiency, which means that efficiency in one school can spill over to its neighbors. The model was found to be robust to various environmental variables included in the …
Human Capital And Savings In An Olg Economy With Migration Possibilities: A Theoretical Note,
2014
De La Salle University, Manila, Philippines
Human Capital And Savings In An Olg Economy With Migration Possibilities: A Theoretical Note, Lawrence B. Dacuycuy, Dickson A. Lim
DLSU Business & Economics Review
In a theoretical study by Stark, Helmenstein, and Prskawetz (1998), the presence of migration possibilities may increase human capital formation. This note verifies the robustness of the said result by introducing savings as a choice variable in an overlapping generations model with migration possibilities. Results indicate that human capital formation will still increase provided that certain technical conditions are met.
An Approximation Of The Internal Rate Of Return Of Investment In Selected Undergraduate Degree Programs,
2014
Arellano University, Legarda, Manila, Philippines
An Approximation Of The Internal Rate Of Return Of Investment In Selected Undergraduate Degree Programs, Editha A. Lupdag–Padama, John Paolo R. Rivera, Rhory C. Fernandez–Go, Krista Danielle S. Yu, Francesca Dianne B. Solis, Rosanina A. Sayoc
DLSU Business & Economics Review
The situation of a typical Filipino household, overseas employment, and the culture of migration are deemed as determinants for investing in higher education such as in the specialized fields of accountancy, education science and teacher training, engineering, and nursing. We examine both local and international labor demand for accountants, teachers, engineers, and nurses as well as its underlying implications on the exodus of professionals. As such, the determination of the internal rate of return to investment is of crucial importance to households to fully maximize educational opportunities and for the government and other institutions to confront this globally-changing situation. Using …
The Strategy Dilemma: Why Big Business Moves Seldom Pan Out As Planned,
2014
University of the Philippines
The Strategy Dilemma: Why Big Business Moves Seldom Pan Out As Planned, Niceto S. Poblador
DLSU Business & Economics Review
This article looks at the complex dynamics that underlie organizational change and attempts to explain why, under present uncertain environmental conditions, it is not possible to determine in advance the results of strategic moves made by businesses and other types of organizations. It discusses an alternative approach to strategy in today’s world of business and explores the practical applications of experimental methods to the management of change in today’s highly complex, extensively interconnected, and knowledge-driven world.
When Does The Aicpa Statement On Standards In Personal Financial Planning Services No. 1 Apply To A Member?,
2014
University of Mississippi
When Does The Aicpa Statement On Standards In Personal Financial Planning Services No. 1 Apply To A Member?, American Institute Of Certified Public Accountants. Personal Financial Planning Section
Guides, Handbooks and Manuals
No abstract provided.
Preparing For The New Standards In Personal Financial Planning,
2014
University of Mississippi
Preparing For The New Standards In Personal Financial Planning, Clark M. Blackman Ii, Dirk Edwards
Guides, Handbooks and Manuals
This sample article is for use by CPA state societies to help members prepare to implement the Statement on Standards in PFP Services in practice.
Aicpa Audit Committee Toolkit : Private Companies,
2014
University of Mississippi
Aicpa Audit Committee Toolkit : Private Companies, American Institute Of Certified Public Accountants. Audit Committee Effectiveness Center In Cooperation With Cna
Guides, Handbooks and Manuals
No abstract provided.
Enterprise Risk Management : Guidance For Practical Implementation And Assessment,
2014
University of Mississippi
Enterprise Risk Management : Guidance For Practical Implementation And Assessment, American Institute Of Certified Public Accountants (Aicpa)
Guides, Handbooks and Manuals
No abstract provided.
Aicpa Audit Committee Toolkit. Public Companies,
2014
University of Mississippi
Aicpa Audit Committee Toolkit. Public Companies, American Institute Of Certified Public Accountants. Audit Committee Effectiveness Center
Guides, Handbooks and Manuals
No abstract provided.
Securing The Future: Volume 1. Building Your Firm's Succession Plan,
2014
University of Mississippi
Securing The Future: Volume 1. Building Your Firm's Succession Plan, William L. Reeb, Dominic Cingoranelli
Guides, Handbooks and Manuals
No abstract provided.
Managing Your Tax Season,
2014
University of Mississippi
Managing Your Tax Season, Edward Mendlowitz
Guides, Handbooks and Manuals
No abstract provided.
Cpa Firm Mergers And Acquisitions : How To Buy A Firm, How To Sell A Firm, And How To Make The Best Deal,
2014
University of Mississippi
Cpa Firm Mergers And Acquisitions : How To Buy A Firm, How To Sell A Firm, And How To Make The Best Deal, Joel L. Sinkin, Terrence E. Putney
Guides, Handbooks and Manuals
No abstract provided.
Securing The Future: Volume 2. Implementing Your Firm's Succession Plan,
2014
University of Mississippi
Securing The Future: Volume 2. Implementing Your Firm's Succession Plan, William L. Reeb, Dominic Cingoranelli
Guides, Handbooks and Manuals
No abstract provided.
