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Full-Text Articles in Business
Thinking Finance - The Comic Book, Dimitrios V. Siskos
Thinking Finance - The Comic Book, Dimitrios V. Siskos
Publications
Thinking financially results in the best possible outcome and establishes a secure foundation for the future as an independent man. In contrast, thinking emotionally leads to short-sighted financial decisions and usually, deep regrets. However, thinking financially is not pleasant for the people around us. This comic book presents a guy, whose dream is to become an accountant. When he finally succeeds in this, he realizes that thinking financially may be effective for his boss but it is irritating for everyone else, even for his family.
Hidden Subsidies And The Public Ownership Of Sports Facilities: The Case Of Levi’S Stadium In Santa Clara, Robert Baumann, Victor Matheson, Debra O'Connor
Hidden Subsidies And The Public Ownership Of Sports Facilities: The Case Of Levi’S Stadium In Santa Clara, Robert Baumann, Victor Matheson, Debra O'Connor
Economics Department Working Papers
Levi’s Stadium in Santa Clara, California is an example of a private financing / public ownership arrangement. While the stadium’s construction resulted in no direct tax increases, this ownership arrangement allows the San Francisco 49ers to avoid many types of taxes on the income generated from Levi’s Stadium. We estimate the total tax savings to the 49ers at between $106 and $213 million over the first 20 years of Levi’s Stadium compared with a privately financed and owned option. We argue that tax savings inherent in private financing / public ownership arrangements represent indirect and hidden subsidies.
Textual Analysis And Machine Leaning: Crack Unstructured Data In Finance And Accounting, Li Guo, Feng Shi, Jun Tu
Textual Analysis And Machine Leaning: Crack Unstructured Data In Finance And Accounting, Li Guo, Feng Shi, Jun Tu
Research Collection Lee Kong Chian School Of Business
In finance and accounting, relative to quantitative methods traditionally used, textual analysis becomes popular recently despite of its substantially less precise manner. In an overview of the literature, we describe various methods used in textual analysis, especially machine learning. By comparing their classification performance, we find that neural network outperforms many other machine learning techniques in classifying news category. Moreover, we highlight that there are many challenges left for future development of textual analysis, such as identifying multiple objects within one single document.
Fair Value Accounting: How Bad Decisions Bring Blame To Beneficial Accounting Procedures, Thomas John Ciulla
Fair Value Accounting: How Bad Decisions Bring Blame To Beneficial Accounting Procedures, Thomas John Ciulla
Senior Honors Theses
The Great Recession has sparked a debate amongst accounting professionals and economic analysts. There has been a concerted effort to blame fair value accounting and FAS 157 as the recession’s root cause and an attempt to challenge FASB to return to the historic cost principle. This paper examines the guidelines and procedures for mark to market as established by FASB, observes the events leading up to the recession, conditions that materialized at the start of the recession, evaluates the role fair value played in the financial crisis, and considers how fair value should be used in the future.
Heedless Globalism: The Sec's Roadmap To Accounting Convergence, William W. Bratton
Heedless Globalism: The Sec's Roadmap To Accounting Convergence, William W. Bratton
All Faculty Scholarship
The Securities Exchange Commission (SEC) has introduced a "Roadmap" that describes a process leading to mandatory use of International Financial Reporting Standards (IFRS) by domestic issuers by 2014. The SEC justifies this initiative on the grounds that global standardization yields cost savings and an ultimate gain in comparability, facilitating the search for global opportunities by u.s. investors and making u.s. capital markets more attractive to foreign issuers. This Article shows that the offered justification is inadequate. The SEC frames the matter as a choice between two institutional frameworks for standard setting, holding out high quality sets of standards, asking which …
Treatment Differences And Political Realities In The Gaap-Ifrs Debate, William W. Bratton, Lawrence A. Cunningham
Treatment Differences And Political Realities In The Gaap-Ifrs Debate, William W. Bratton, Lawrence A. Cunningham
All Faculty Scholarship
No abstract provided.
Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton
Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton
All Faculty Scholarship
The Financial Accounting Standards Board (the “FASB”) presents a puzzle: How has this private standard setter managed simultaneously (1) to remain independent, (2) to achieve institutional stability and legitimacy, and (3) to operate in a politicized context in the teeth of op-position from its own constituents? This Article looks to governance design to account for this institutional success. The FASB’s founders made a strategic choice to create a regulatory agency that sought independence rather than political responsiveness. The FASB also set out a coherent theory of accounting, the “Conceptual Framework,” to contain and direct its decisions. The Conceptual Framework contributed …
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
All Faculty Scholarship
The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly ·when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect. the US reporting system holds out no actor plausibly positioned …
The Case For Repealing The Corporate Alternative Minimum Tax, Terrence R. Chorvat, Michael S. Knoll
The Case For Repealing The Corporate Alternative Minimum Tax, Terrence R. Chorvat, Michael S. Knoll
All Faculty Scholarship
No abstract provided.
Put-Call Parity And The Law, Michael S. Knoll
Put-Call Parity And The Law, Michael S. Knoll
All Faculty Scholarship
A common literary theme is the conflict between appearance and reality. That conflict also frequently arises in the law, where it is usually cast as one between substance and form. Another discipline in which the conflict arises is finance, where it appears in the put-call parity theorem. That theorem states that given any three of the four following financial instruments--a riskless zero-coupon bond, a share of stock, a call option on the stock, and a put option on the stock--the fourth instrument can be replicated. Thus, the theorem implies that any financial position containing these assets can be constructed in …
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
All Faculty Scholarship
No abstract provided.