Digital Commons Network^™

How Did The Implementation Of Asc 842 Affect Credit Markets And Stock Performance Among Publicly Traded Firms With Extensive Lease Obligations?, Eduardo Hernandez

CMC Senior Theses

I investigate whether the mandatory lease capitalization under ASC 842 led to measurable shifts in market-based assessments of firm risk, from both a creditor and investor perspective. Sampled firms and financial quarters are segmented based on lease intensity (a proxy for a firm’s reliance on leases) and firm size (based on market capitalization). Contrary to initial expectations, the results suggest that firms with higher lease intensity experienced a significant increase in stock returns and a decline in bond yields following the implementation of ASC 842, which indicates that the added transparency may have reassured equity and credit investors. This study …

Accounting Metrics And Stock Sensitivity: A Comparative Analysis Between Small Cap And Large Cap Companies, Diana B. Carranza

CMC Senior Theses

This study examines whether the cumulative abnormal returns (CARs) of small-cap companies are more sensitive to accounting metrics such as return on assets (ROA), return on investment (ROI), return on equity (ROE), and the debt-to-equity (D/E) ratio compared to large-cap companies. Using a sample of firms from the S&P 500 and S&P 600, moderated linear regression models were applied to test the relationship between profitability, leverage, and stock price reactions. The models include interaction terms with firm size and control for time-fixed effects. The results show that while profitability metrics are positively and significantly associated with CARs for large-cap firms, …

The Pricing Of Forecast-Based Earnings Uncertainty In Equity Markets, Brenda G. Galvan

CMC Senior Theses

This paper constructs a firm-level measure of earnings forecast uncertainty by adapting the macroeconomic methodology of Jurado et al. (2015) to micro-level financial statement data from Compustat and CRSP. Using a two-stage estimation procedure, I first forecast the scaled year-over-year changes in earnings, defined as the change in income before extraordinary items normalized by firm sales,based on lagged firm fundamentals. I then model the squared forecast errors to extract the unpredictable component of earnings variation, generating a forward-looking, firm-specific measure of ex-ante uncertainty. Empirically, I examine whether this forecast uncertainty measure is priced in equity markets by regressing future stock …

Optimal Capital Allocation Decisions And Investments In The Nba, Anderson Cynkar

CMC Senior Theses

This thesis investigates the relationship between salary concentration and winning in the NBA, primarily focusing on how the concentration of payroll among top-earning players influences success. Several concentration metrics were constructed and employed including the use of a Herfindahl-Hirschman Index (HHI) to measure the share of payroll each player receives across a team. I used fixed effects regressions and clustered standard errors at a team level to control for unobserved factors that remain the same over time. The results revealed a consistent inverted U-shape curve, signaling that an optimal concentration of capital exists for the highest paid player, two highest …

The Effect Of The Tcja And Cares Act On Charitable Contributions And The Financial Health Of The Nonprofit Sector, Nathanio A. Bright

CMC Senior Theses

This thesis examines the impact of the Tax Cuts and Jobs Act of 2017 and the Coronavirus Aid, Relief, and Economic Security Act of 2020 on charitable contributions and nonprofit financial health. The standard deduction increase introduced by the TCJA disincentivized middle to low-income earners from making contributions. In March 2020, Congress temporarily increased the AGI limit on charitable deductions while simultaneously offering an above-the-line deduction for all U.S. taxpayers. While earlier studies have analyzed the effect of the TCJA in disincentivizing charitable contributions, no study has examined the moderating effect of the TCJA and CARES Act in affecting contributions …

The Counter-Cyclicality Of Earnings Management: Evidence Through 2024, William J. Hall

CMC Senior Theses

This thesis examines the relationship between macroeconomic conditions and earnings management, extending the analysis of Hillegeist and Lin (2019) using updated data through 2024. Based on 16,635 firm-quarter observations, my study affirms the results found in prior literature and confirms that there is a negative association between the change in GDP and the direction of firms’ earnings management behavior, indicating that earnings management is counter-cyclical. My study also finds that firms manage earnings asymmetrically based on the current macroeconomic state, with firms managing earnings more in economic downturns and less in expansions. My findings suggest that despite major macroeconomic and …

Analysis Of Technology Skill Requirements For Entry-Level Accountants, Jiane Louella Tolentino Rabara

Theses and Dissertations

This study examines the evolving impact of emerging technologies on skill requirements for entry-level accountants. Using a mixed-method approach that combines literature review and quantitative analysis of 2,257,082 job postings from 2021 to 2024 provided by the Butler Center for Research and Economic Development, the study evaluates trends in employer expectations across firm sizes and time. Chi-square tests revealed significant changes in the proportion of postings requiring technological skills (χ² = 117,672, df = 3, p < .001), indicating a shift in how technology-related competencies are presented in job ads. Specifically, while previous job postings often included general technical skills alongside traditional accounting tasks, recent job postings increasingly emphasize advanced or specialized technologies—such as ERP systems, cloud accounting platforms, and automation tools. This shift suggests that employers are moving away from broad technical expectations toward more targeted skill sets, reflecting the evolving technological demands of the profession. A separate chi-square test found a significant relationship between technological skill requirements and job ad duration (χ² = 2,309.57, df = 4, p < .001). However, no consistent pattern of longer posting duration was observed for technology-oriented roles. Literature-based synthesis further showed that large accounting firms continue to demand more advanced technological competencies than smaller firms. Overall, while traditional accounting skills remain predominant, the findings indicate a transition toward more specialized technological expectations in the entry-level accounting role.

Research Portfolio, Kezia Mariam Abraham

Graduate Research Papers

No abstract provided.

When Does Top Management Team Diversity Matter In Large Organizations?, James M. Plecnik, Shan Wang, Frances Fabian

Accounting Faculty Works

Top management teams (TMTs) drive strategic leadership, but there is little clarity on when the composition of these upper echelons most impacts organization performance. Drawing from the categorization-elaboration model, we study an 18-year sample of approximately 4500 organizations and over 32 000 executives and find a positive relationship between TMT functional diversity and organization performance, but only for the smaller organizations. We tested how organization size (and correlates of age/complexity) negatively interacts with functional diversity. Testing for TMT integration proxies, top management tenure counteracted the negative impact of size, making functional diversity beneficial in large organizations as well. Additionally, CEO …

Joann: Analyzing The Downfall Of America’S Beloved Crafting Retailer, Savanna Solano

Undergraduate Theses, Professional Papers, and Capstone Artifacts

No abstract provided.

Risk Factors And Fraud Loss Magnitude: Informing Anti-Fraud Strategies, Robert Elias

Graduate Theses, Dissertations, and Problem Reports (ETD)

Fraud research posits risk factors may be utilized to identify individuals who are predisposed to perpetrate fraud (ACFE 2024). I find perpetrators who exhibit the following risk factors result in statistically higher fraud losses: living beyond their means, excessive pressure to perform within the organization, having excessive control issues regarding their job, are reluctant to take vacations, have a “wheeler-dealer” attitude, or addiction problems. I further find perpetrators who exhibit risk factors which are likely to be observed in a work setting are more likely to result in higher fraud losses. However, perpetrators who exhibit risk factors which are more …

Analysis Of The Public Acceptance Of Cryptocurrency In The Central African Republic, Bruno Gbado

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation explores the public acceptance of cryptocurrency in the Central African Republic (CAR), applying the Technology Acceptance Model (TAM) as the theoretical framework. The study adopts a research model and survey instrument derived from a previous published research paper. Data were collected through paper-based surveys from 357 respondents, mostly students and faculty members at the University of Bangui in the CAR. The responses were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with Smart PLS software. The results reveal that increased awareness of cryptocurrency significantly boosts its acceptance, with factors such as perceived ease of use and perceived …

The Impact Of Key Audit Matters On Earnings Quality: The Moderating Role Of Ownership Structure In Egyptian Listed Companies., Dina Hassouna, Rasha Elhaddad, Rasha Elbolok

Business Administration

This study investigates the influence of key audit matters (KAMs) on earnings quality, measured by earnings per share (EPS), in Egyptian listed companies, with a particular focus on the moderating role of ownership structure. To address potential endogeneity concerns, the study employs the generalized method of moments (GMM) for panel data analysis. The findings indicate that KAM disclosures have a significant negative impact on EPS, suggesting that increased disclosure of critical audit matters is associated with a decline in earnings quality. However, this relationship is moderated by ownership structure, as concentrated ownership helps mitigate the adverse effects of KAMs on …

The Follower Fallacy: Revisiting Engagement Hypothesis By Evidencing Nonlinear Dynamics In Influencer Marketing, Pranjal Jain, Pooja Jain, Anju Jain

DLSU Business & Economics Review

The traditional premise posits a positive correlation between influencer following (indegree) and engagement metrics, covering likes, shares, comments, and so forth. This study aims to either affirm or dent this engagement hypothesis. Through a methodical analysis of engagement data, this research recognizes potential deviations from the anticipated linear trajectory. Contrary to antecedental social influence, campaign customization, indegree composition, and post components define diverse nonlinear trajectories, empirically challenging the existing research assumptions underlying hypothesis. By evidencing the multifaceted dynamics of influencer engagement, this study offers critical insights for marketers navigating the complexities of contemporary digital marketing landscapes, facilitating the optimization of …

Determinants Of Corporate Capital Structure And The Emerging Role Of Intangibles And Innovation: The Case Of Japanese Corporations, Michael Angelo A. Cortez

DLSU Business & Economics Review

This study aims to modernize capital structure determinants in line with changing economic environments by incorporating the function of intangible assets, particularly innovations, into capital structure decisions. Traditional independent variables such as tangibility, firm size, profitability, growth opportunities, and profitability have been thoroughly researched, but the growing importance of intangible assets and innovations in the contemporary economy with advanced technology calls for a reassessment of their impact on capital structures. I examine 95 enterprises listed in the Nikkei over 11 years (2014–2024) using cross-section generalized least squares regression and dynamic panel data estimation. Results show that corporate leverage decisions (debt-to-equity …

Assessing The Impact Of Shifting To Non- Combusted Alternatives To Reduce The Economic Cost Of Tobacco-Related Illnesses: A Cost Of Illness Approach In The Philippine Case, Christopher James Cabuay

DLSU Business & Economics Review

Smoking continues to be one of the leading causes of death and disability around the world. Recent health studies, however, have reported that these diseases are more likely to be due to the smoke from burning rather than the actual nicotine content. This study uses a cost-of-illness approach in estimating the cost of smoking-related illness in the Philippines and calculating the potential reduction in costs if a significant portion of the adult smoking population switches to the exclusive use of non-combusted alternatives (NCAs), which drastically reduces the risk of contracting smoking-related diseases. This study finds that cost reductions in the …

Vocational Education And Training (Tvet) And Its Impact On The Employment Prospects Of The Als Graduates, Martha Joy J. Abing, Mitzie Irene P. Conchada

DLSU Business & Economics Review

The pressure for technical-vocational education and training to deliver skilled and competent laborers has become a major concern in the labor market. As such, the strong desire to explore the effectiveness of TVET’s skills training programs remains. There is limited literature on the employability of the alternative learning system graduates in comparison to those graduates of the ALS program who did not pursue TVET. Using the dataset of the World Bank STEP Skills Measurement Household Survey for the Philippines, 2015-2016, this study seeks to determine whether completing TVET has significantly increased the employability of ALS graduates. Utilizing the method of …

A Review Of Climate Change And Its Financial Impact On The Transportation Sector, Ray Anthony L. Almonares

DLSU Business & Economics Review

In this paper, I review the existing literature on climate risks—both transition and physical—and their relationship with firm performance, with a specific focus on transportation finance. I find that the broad literature on carbon emissions and firm performance overlooks two critical characteristics of the global transportation sector: its heavy reliance on fossil fuels and the international scope of its operations. As a result, the conclusions drawn from this body of work may not be directly applicable to global transportation companies. Furthermore, I examine existing studies on extreme sea levels and the global maritime transportation sector, noting that these studies have …

Performance Auditing Trends At A Supreme Audit Institution: Uk National Audit Office, 1999 To 2021, Amir Michael, Laurence Ferry, Bruce Mcdonald, Henry Midgley

School of Public Service Faculty Publications

Performance audits have become increasingly important across the world. Scholars know that a variety of practices are incorporated within performance audits and have mapped this diversity. However, few quantitative studies examine performance auditing as a practice. This study fills that gap. By analyzing the published performance audit documentation of the UK National Audit Office (NAO), the study explores the influences of governmental change and crises behind changes in a supreme audit institution's performance audit. It also examines whether performance audits are diverse by examining the language used by the auditors. The study provides evidence that neither crises nor changes of …

Timing Is Everything: Congruence, Controllability, And Performance Measure Weighting, Hayden T. Gunnell, Gary Hecht, William B. Tayler, Kristy L. Towry

Faculty Publications

We investigate whether the weights managers place on performance measures for performancebased compensation depend on whether weights are determined at the beginning or end of the performance period. We propose that managers frame the weighting decision differently depending on timing. Specifically, prior to employee effort, managers frame the decision as intended to align employee effort to firm objectives, whereas after employees have exerted effort, managers frame the weighting decision as intended to evaluate employee effort. Thus, we expect, and find, that managers weight measures that are more congruent with firm objectives more heavily when weightings are determined ex ante (before …

Disclosure Benchmarking By Lawyers: Evidence Fromthe Ipo Setting, Michael S. Drake, Jeff Mcmullin, Kenneth Merkley, Chase Potter, John Treu

Faculty Publications

Lawyers play an important advisory role in drafting financial reports, yet empirical evidence documenting the influence of external legal counsel on this process remains sparse. This study focuses on a specific aspect of lawyers’ drafting process: the practice of reviewing disclosures previously filed by other issuers—a practice termed “disclosure benchmarking.” Using initial public offering (IPO) disclosures as the setting, we find that disclosure benchmarking is associated with amore efficient Securities and Exchange Commission (SEC) review process. We further find that it is associated with several measures of disclosure quality, including disclosures that are less likely to be revised in subsequent …

The Future Performance Implications Of Non-Gaap Motivated Investment, Minkwan Ahn, Theodore E. Christensen, Ryan G. Johnson, Melissa F. Lewis-Western

Faculty Publications

We investigate whether consistent non-GAAP reporting is associated with investment efficiency. Prior research finds a positive association between non-GAAP reporting and investment levels, concluding that it represents overinvestment. We corroborate this positive association, but additional tests are not consistent with the conclusion of inefficient overinvestment. Specifically, we explore the relation between investment and future cash flows as a proxy for the realization of investments in positive net present value projects. We find that the investments of firms that consistently report non-GAAP metrics are associated with similar or higher future cash flows than the investments of firms reporting only GAAP earnings, …

Price Transparency And Patient Engagement: Social Messaging Matters, Jace B. Garrett, Keaton C. Helquist, Steven D. Smith, William B. Tayler

Faculty Publications

OBJECTIVES: To examine the effects of price transparency and prosocial messaging on price-protected consumers’ health care choices as a potential cost-saving strategy to manage rising US health care expenditures.

STUDY DESIGN: Cross-sectional study. Participants were recruited to complete a basic questionnaire via Amazon’s Mechanical Turk program. Participants’ selections were subsequently collected and analyzed.

METHODS: Participants (N = 567) selected a sleep study provider from 5 options, with manipulations including financial responsibility, provision of price information, and a prosocial message encouraging high-value options.

RESULTS: Price transparency increased the selection of lower-cost options among participants who were solely responsible for paying for …

Managers' Staging Of Earnings Conference Calls Around Actual Share Repurchases, Hong Kim Duong, Chuong Do, Huy N. Do

Accounting Faculty Publications

We use earnings call transcripts to examine whether managers strategically change their disclosure behaviors before an actual share repurchase. Our findings suggest that managers use tone management to strategically portray a more negative outlook for the firm in the earnings call before an actual repurchase. In addition, we find that managers of repurchasing firms “cast” the call with more unfavorable analysts even when more favorable analysts are available. These disclosure strategies aim to influence the information flows to the market and allow repurchasing firms to repurchase their shares at a discounted price. We further show that insiders of repurchasing firms …

Eagle Accountant - 2025, Georgia Southern University

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Individuals' Trust Of Bank Acquisitions, Christy Mccollum Knight

Graduate Theses, Dissertations, and Problem Reports (ETD)

Recent transactions within the financial services industry have seen an uptick in credit unions acquiring traditional community banks. Between the years 2020 and 2024, there were 64 announced bank mergers and acquisitions by Credit Unions, and this trend is expected to continue (S&P, 2025). As there are fundamental differences between credit unions and traditional community banks, the question arises, “How will consumer confidence and trust be affected by these mergers and acquisitions?”

This dissertation investigated how consumer trust would be affected by their propensity to trust others (Disposition to Trust), their perception of the financial services industry (Institution-Based Trust), their …

Inventory Of Transcripts Of Council Meetings, Annual Meetings, Committee Reports And Speeches, 1886-2021, American Institute Of Certified Public Accountants. Library

Association Sections, Divisions, Boards, Teams

No abstract provided.

The Impact Of The Covid-19 Pandemic On Corporate Performance And Cash Dividend Distribution In China's Manufacturing Industry, Wang Danni, Lim Thien Sang, Lei Guangmei

The Indonesian Capital Market Review

As an unprecedented global public health emergency with rapid spread and challenging prevention and control measures, the COVID-19 pandemic has profoundly impacted corporate performance worldwide. Notably, the manufacturing industry in China has been severely impacted. To comprehensively understand the influence of significant public health incidents on enterprises and mitigate the epidemic's repercussions, the unbalanced panel data of China's A-share listed manufacturing enterprises from 2018 to 2023 was analyzed by regression analysis. The findings demonstrate that the COVID-19 outbreak has diminished these enterprises' financial and market performance. Moreover, companies with higher cash dividends and more excellent stability exhibit superior future performance …

Corruption Perception, Institutional Quality And Stock Prices: Evidence From The Egyptian Capital Market, Rasha Elbolok, Gina Eltabei, Dina Hassouna

Business Administration

This study examines the impact of institutional quality and corruption perception on stock prices in the Egyptian capital market, with a focus on the post-revolution period from to . Using the Generalized Method of Moments (GMM) methodology, this study provides empirical evidence on the significant role of macro-political factors and firm-specific variables in shaping stock market dynamics. The findings reveal that institutional quality, characterized by governance efficiency, regulatory frameworks, and the rule of law, positively correlates with stock prices. Similarly, enhanced corruption perception control significantly boosts investor confidence, leading to increased market valuations. Firm-level factors such as Tobin’s Q and …

Environmental, Governance, And Bibliometric Research On Corporate Tax Avoidance, Harjot S. Mehmi

Theses and Dissertations (Comprehensive)

This dissertation is composed of a literature review and three essays positioned in the corporate tax avoidance (CTA) space. The literature review summarizes the relationship between CTA and environmental, social, and governance (ESG) factors. Although there are mixed findings within each of the E-S-G categories in the CTA literature, in general, better environmental circumstances are negatively associated with CTA, social performance displays an inverse relationship with CTA, and governance factors also display an inverse relationship with CTA. The first essay is an empirical archival investigation of the relationship between CTA and an environmental factor – the risk of environmental hazards …