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Integrating Research And Curriculum Design: An Event Study In Introductory Accounting, Keith Duncan, Simone Kelly, Ray Mcnamara
Integrating Research And Curriculum Design: An Event Study In Introductory Accounting, Keith Duncan, Simone Kelly, Ray Mcnamara
Keith Duncan
Extract: In this chapter we present an Event Study assessment project that meets all three educational objectives. The Event Study Project requires students to find an accounting announcement and to evaluate the impact of that announcement on the share value of the company. The project demonstrates the relevance of accounting information to the share market, emphasising the importance of accounting to capital markets. The Event Study is also designed to demonstrate to students the importance of understanding causality. Specifically, the project provides students with an opportunity to explore and understand the impact of factors such as the market and industry, …
The Impact Of 'Familiness' On Financial Value, Tim Hasso, Keith Duncan
The Impact Of 'Familiness' On Financial Value, Tim Hasso, Keith Duncan
Keith Duncan
This paper distills three core value drivers common across the accepted valuation models and explores the application of these core valuation elements in a family firm context, drawing on the empirical evidence in the discipline. We adopt a Resource-Base View (RBV) of the competitive advantage of family firms and show that the 'familiness' factor is largely manifested in the firm's intangible assets. However, extant accounting does not recognise these intangible assets in the book value of the firm nor the implication for the long run permanence of earnings and cash flows. Thus valuation models predicated on book value, earnings and …
Accountability And Stewardship Of Family Business Entities, Keith Duncan, Ken Moores
Accountability And Stewardship Of Family Business Entities, Keith Duncan, Ken Moores
Keith Duncan
This chapter explores whether current accounting technology fulfils the stewardship and accountability information needs of family business owners. As the influences on contemporary accounting are both conceptual and contextual we frame our discussion in terms of both the knowledge foundations of accounting, as informed by various conceptions of the firm, and stakeholder theory. We posit that if prevailing conceptions of the firm impact the knowledge foundations of accounting, and subsequently the nature and form of accounting practice, then it is the conceptions of influential stakeholders that can define the accounting change agenda and affect contemporary accounting practice. We use extant …
Pricing Of Innate And Discretionary Accruals In Australian Debt, Husam Aldamen, Keith Duncan
Pricing Of Innate And Discretionary Accruals In Australian Debt, Husam Aldamen, Keith Duncan
Keith Duncan
This paper addresses the conflicting evidence on the role of accruals in debt pricing. We show that the two subcomponents of accruals quality, innate and discretionary accruals, both impact the debt pricing. Higher innate accruals increases cost of debt, consistent with the prior evidence (Francis et al., 2005; Gray et al., 2009). However, we also find that higher discretionary accruals reduce the cost of debt. This contrasts with the prior evidence of a positive association between discretionary accruals and cost and debt (Francis et al., 2005), and no association (Gray et al., 2009). We show that noisy measurement of cost …