Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Keyword
-
- Accounting (2)
- Family (2)
- Accounting education (1)
- Accruals (1)
- Assurance (1)
-
- Audit reporting (1)
- Business (1)
- Corporate governance (1)
- Cost of debt (1)
- Debt (1)
- Default risk (1)
- Discretionary (1)
- Event study project (1)
- Family business wealth and knowledge transfer (1)
- Financial reports (1)
- Firms (1)
- Information (1)
- Information risk (1)
- Innate (1)
- Lifelong learning (1)
- Pricing (1)
- Regulatory (1)
- Risk (1)
- Size (1)
- Stewardship (1)
- Valuation (1)
- Valuation/financial analysis (1)
- File Type
Articles 1 - 8 of 8
Full-Text Articles in Business
Relationship Between The Audit Function And Effective Governance, Keith Duncan
Relationship Between The Audit Function And Effective Governance, Keith Duncan
Keith Duncan
Extract: As early as 1200 A.D. incorporated guilds in the United Kingdom (UK) required annual audits by a committee of members (Watts et al. 1983). The historical evidence suggests that the audit function evolved as an effective monitoring and bonding technology (Watts et al. 1983) that today consists of an international profession fulfilling regulatory requirements for assurance services. Despite auditing’s long history we might well ask, in the light of financial frauds such as Enron and the demise of their auditor Arthur Anderson, and the recent global financial crisis, does the modern audit function enhance effective governance? Is the audit …
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 …
Valuation Of Family Firms: The Limitations Of Accounting Information, Tim Hasso, Keith Duncan
Valuation Of Family Firms: The Limitations Of Accounting Information, Tim Hasso, Keith Duncan
Keith Duncan
This conceptual paper explores the extent to which reported accounting information captures unique family firm decision-making and intangible asset factors that impact financial value. We review the family firm valuation-relevant literature and identify that this body of research is predicated on the assumption that accounting information reflects the underlying reality of family firms. This research, however, fails to recognise that current accounting technology does not fully recognise the family firm factors in the book value of the firm or the implications for long-run persistence of earnings. Thus, valuation models underpinning the extant empirical research, which are predicated on reported accounting …
Corporate Governance, Risk Assessment And Cost Of Debt, Husam Aldamen, Keith Duncan, Ray Mcnamara
Corporate Governance, Risk Assessment And Cost Of Debt, Husam Aldamen, Keith Duncan, Ray Mcnamara
Keith Duncan
This paper examines the impact of corporate governance practices on the reported cost of contracted debt for Australian listed companies. Good governance decreases the variability in cash flows, reduces the probability of default (reduces default risk), increases the quality of value-relevant information disclosed (reduces the information risk) and thereby lowers the cost of debt (Ashbaugh-Skaife, Collins, and LaFond 2006; Sengupta 1998; Bhojraj and Sengupta 2003; Beekes and Brown 2006; Klein 2002; Easley and O'Hara 2004). Similarly our Australian data confirms that cost of debt is positively related to default and information risks. We show that increased corporate governance reduces default …
Family Business Wealth And Knowledge Transfer, Justin Craig, Keith Duncan, Frank Barbera, Manuel Eberhard, Marina Skinner
Family Business Wealth And Knowledge Transfer, Justin Craig, Keith Duncan, Frank Barbera, Manuel Eberhard, Marina Skinner
Keith Duncan
“Knowledge transfer is the key to successful wealth transfer” After years of creating the building blocks to understand family businesses within the greater community, BDO has partnered with The Australian Centre for Family Business (ACFB) and Bond University to undertake an Australian-first report to understand the dynamics of wealth and knowledge transfer, and identify the key trends and issues that will enhance successful transitions within private businesses. This report examines the wealth and knowledge transfer intentions of 320 respondent businesses, the majority of which classified themselves as family businesses. This report will provide an insight into issues such as family-first …
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 …