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Heineken's Acquisition Of Asia Pacific Breweries: Accounting For Business Combinations And Ownership Interests, Pearl Hock Neo Tan, Chu Yeong Lim Nov 2017

Heineken's Acquisition Of Asia Pacific Breweries: Accounting For Business Combinations And Ownership Interests, Pearl Hock Neo Tan, Chu Yeong Lim

Research Collection School Of Accountancy

On July 20, 2012, Heineken, a Dutch brewery offered S$5.125 billion (Singapore dollars; approximately US$4.1 billion) to buy Asia Pacific Breweries Ltd (APB; formerly, Malayan Breweries Limited) from its Singapore-based joint venture partner, Fraser and Neave, Limited. (F&N). At that point, Heineken and F&N had joint control over APB through the joint venture vehicle Asia Pacific Investments Pte Ltd (APIPL). Brewery business under the joint arrangement had moved on quite predictably from the time APB was formed in 1931. However, the calm changed to high drama when Thai Beverage, owned by one of Thailand's tycoons, made a bid for F&N …


Gender And Connections Among Wall Street Analysts, Lily Hua Fang, Sterling Huang Sep 2017

Gender And Connections Among Wall Street Analysts, Lily Hua Fang, Sterling Huang

Research Collection School Of Accountancy

We examine how alumni ties with corporate boards differentially affect male and female analysts’ job performance and career outcomes. Connection improves men’s job performance — forecasting accuracy and recommendation impact — significantly more than women’s. Controlling for performance, connection further contributes to men’s, but not women’s, likelihood of being voted by institutional investors as “star” analysts, a marker of career success. These asymmetric effects are stronger in more opaque firms and among younger analysts, but is absent from a placebo test. Our evidence indicates that men reap higher benefits from social networks than women in both job performance and subjective …


Using Student-Generated Videos To Learn Internal Control In Accounting Information Systems Courses, Poh Sun Seow, Gary Pan May 2017

Using Student-Generated Videos To Learn Internal Control In Accounting Information Systems Courses, Poh Sun Seow, Gary Pan

Research Collection School Of Accountancy

Educators consider the video learning approach an effective method to deliver educational content as compared to the traditional method of books and written materials. This paper presents a project that involves student-generated videos to learn internal control in an undergraduate accounting information systems course. We believe that this video learning approach is an engaging way for students to be self-directed learners in learning internal control and complements the written materials in the textbook. The survey results show that most of the respondents viewed the learning experience of the video project positively. The results also indicate that the video project was …


Why Do Publicly Listed Firms Evade Taxes: Evidence From China, Travis Chow, Bin Ke, Hongqi Yuan, Yao Zhang May 2017

Why Do Publicly Listed Firms Evade Taxes: Evidence From China, Travis Chow, Bin Ke, Hongqi Yuan, Yao Zhang

Research Collection School Of Accountancy

Taking advantage of the mandatory disclosure of detected corporate tax evasions in China, we examine why publicly listed firms evade taxes. Different from most prior studies that focus on corporate income tax avoidance, we consider tax evasions related to both income taxes and non-income taxes. We also use a bivariate probit model to account for the partial observability of corporate tax evasion. Many of our regression results using the bivariate probit model are different from the results using the reduced form probit model that ignores the partial observability of tax evasion. Many of our results are also different from those …


Messaging Without A Message: Executive Value And Social Media Activity, Ru Gao, Gilles Hilary, Rencheng Wang May 2017

Messaging Without A Message: Executive Value And Social Media Activity, Ru Gao, Gilles Hilary, Rencheng Wang

Research Collection School Of Accountancy

We show that executives who start tweeting benefit from better career options. We motivate this finding using the well-established theory of limited attention. Consistent with this explanation, we find that content is irrelevant. Comparative statics are also consistent with our framework. In particular, the effect of Twitter is greater for executives who were largely unrecognized and who were underpaid before they started tweeting, who garner greater public attention from their social media activity, who enjoy higher professional mobility, and who operate in environments where compensation setting is less structured.


Do Politically Connected Directors Affect Accounting Quality? Evidence From China's Anti-Corruption Campaign (Rule 18), Ole-Kristian Hope, Heng Yue, Qinlin Zhong Apr 2017

Do Politically Connected Directors Affect Accounting Quality? Evidence From China's Anti-Corruption Campaign (Rule 18), Ole-Kristian Hope, Heng Yue, Qinlin Zhong

Research Collection School Of Accountancy

We examine the impact of politically connected directors on accounting quality using a quasi experiment in China. In October 2013, “Rule 18” was issued to prohibit government and party officials, who were concurrently holding public offices or had recently retired from such positions within the last three years, from serving as directors for publicly listed firms. The regulation is part of China’s anti-corruption campaign, and it has led to a large number of politically connected directors resigning from their roles as directors involuntarily. As such, Rule 18 has effectively weakened, if not fully discontinued, the political connections of the firms …


Our Future Together Industry Perspectives: Future Of Professional Learning And Entrepreneurship, Poh Sun Seow, Pan, Gary, Clarence Goh, Kwong Sin Leong Apr 2017

Our Future Together Industry Perspectives: Future Of Professional Learning And Entrepreneurship, Poh Sun Seow, Pan, Gary, Clarence Goh, Kwong Sin Leong

Research Collection School Of Accountancy

This report 2017 marks the second collaboration between ISCA and ICAEW after the successful launch of “Our Future Together” report in 2016 to inspire professional accountants to critically think about what the future holds for Singapore and the accountancy profession. How should accountants embrace transformation in the digital age? How should learning be redefined for the accountancy profession? How can organisational culture encourage innovation and an enterprising spirit in accountants? This report aims to shape the discussion on how education, training and professional learning should be redefined to develop professional accountants who are future-ready, so that they can continue to …


Grooming The Future Disruptive Accounting Professionals, Gary Pan, Gan Hup Tan, Poh Sun Seow Apr 2017

Grooming The Future Disruptive Accounting Professionals, Gary Pan, Gan Hup Tan, Poh Sun Seow

Research Collection School Of Accountancy

In this chapter, we will discuss how SMU brought about innovation changes in the university’s learning environment. In 2011, a steering committee was set up by SMU President, Professor Arnoud De Meyer to develop strategies that focused on innovation in learning pedagogy at the university. Subsequent brainstorming sessions led to the evolution of the SMU-X programme, which aimed to broaden the scope of university education by encompassing real life problems and problem-solving skills in the curriculum. The concept encompassed three key elements: mindset, pedagogy, and physical space. The challenge was to offer more applied learning with close coordination between classroom …


Industry-University Partnership Through Experiential Project-Based Learning: A Singapore Case Study, Gary Pan, Gan Hup Tan, Yvonne Tan Feb 2017

Industry-University Partnership Through Experiential Project-Based Learning: A Singapore Case Study, Gary Pan, Gan Hup Tan, Yvonne Tan

Research Collection School Of Accountancy

A radical approach to preparing university students with future work skills, by combining academic with experiential learning through real projects faced by client partners. Learn how a university can create opportunities for collaborative learning and a tripartite learning relationship for academia, students and industry. Outcomes and impact of the case Post-module feedback surveys conducted over AY2015/16 showed that over 80% of the students who took an SMU-X module reported enhanced problem-solving, analytical, reasoning and communication skills, all of which were skills highly valued by employers. These results also dovetailed with SMU-X’s learning outcomes. More than 85% felt that the SMU-X …


Ownership And Identities Of The Largest Shareholders And Dividend Policy: Evidence From Vietnam, Trien Vinh Le, Trang Huyen Le Jan 2017

Ownership And Identities Of The Largest Shareholders And Dividend Policy: Evidence From Vietnam, Trien Vinh Le, Trang Huyen Le

Research Collection School Of Accountancy

This study investigates the relationship between the level of shareholdings and identities of the largest shareholders, and cash dividend policy. The study is conducted with a sample of 180 firms listed on Vietnam stock exchange markets from 2009 to 2013. The fixed effect model is employed to analyze the balanced panel data. The results show that the higher the level of holdings by the largest shareholders, the lower the dividend payout. Moreover, companies with the State and Foreign investors as the largest shareholders have higher dividend payout ratio than companies with local investors and managers as the largest shareholders. The …