Business Commons^™

Corporate Social Responsibility And Earnings Management: Evidence From Controversial And Non-Controversial Sectors In Asia, Eugene Burgos Mutuc, Jen-Sin Lee, Fu-Sheng Tsai

DLSU Business & Economics Review

In this study, we investigate the impact of corporate social responsibility (CSR) on earnings management through discretionary accruals and real-activities decisions, in light of the increasing attention and engagement of firms from different sectors. This study contemplates on non-financial Asian firms from controversial and non-controversial sectors with 889 and 3,017 firm-year observations from 2011 to 2017. The findings reveal that Asian firms likely use a mix of accrual-based earnings management (AEM) and real-activities earnings management (REM) as a strategy to manipulate reported earnings. In terms of sector classifications, managers from controversial sectors exhibit higher opportunistic behavior than managers from non-controversial …

The Effects Of External Stakeholder Pressure On Csr Disclosure: Evidence From Indonesia, Anisa Ramadhini Trianaputri, Desi Adhariani, Chaerul D. Djakman

DLSU Business & Economics Review

This study examines the effect of external stakeholder pressure on the extent of social and environmental disclosure or corporate social responsibility (CSR) disclosure. Several studies have examined the impact of internal stakeholder pressure (e.g., ownership or board of directors’ structure) and corporate characteristics on CSR disclosure, but there has been little attention focused on the role of external stakeholders. Therefore, this research seeks to examine the influence on the extent of CSR disclosure by four external stakeholder groups: customer, creditor, auditor, and media. A total of 327 annual reports produced by 109 manufacturing companies listed on the Indonesia Stock Exchange …

On Extreme Perception Bias, Emerico Habacon Aguilar, Klarizze Martin Puzon, Imelda Revilla Molina

DLSU Business & Economics Review

This note investigates perception bias: To what extent do individual opinions confound reality? We estimated the relative gap between self-declared estimates and real data. With a sample of respondents from Laguna, Philippines, we asked about the prevalence of diabetes and smartphone usage. We observed a trend of judgment miscalibration. Responses exhibit significant deviation from facts; for example, inaccuracies can go as high as seven times the real value. Especially for estimates on smartphone ownership, bootstrapped quantile regression models showed that perception bias is associated with age.

Japanese And Filipino College Students As Consumers: Does Country Of Origin Affect Their Purchase Intent?, Luz Suplico Jeong, Reynaldo Bautista Jr., Takanori Osaki

DLSU Business & Economics Review

The marketing literature shows that consumers evaluate and buy products based on the country of origin. The impact of the country of origin (COO) on consumers, especially college students who influence demand in global markets, is becoming increasingly important due to advances in information technology. There are studies that show that COO can directly affect purchase intent without mediator variables. However, this study shows that COO does not have a direct effect on purchase intent. COO can only affect the purchase intent of Japanese and Filipino consumers if perceived product quality is used as a mediator variable. In the case …

Understanding Student Perceptions Of Their Personal Branding In Higher Education, Musa Pinar, Tulay Girard

AMTP Proceedings 2020

Please see attached for an formatted extended abstract

Factors Impacting One’S Self-Classification Into One Of The Five Categories Of A Typology Delineating Green (And Not So Green) Consumers, Sam Fullerton, Tammy Mccullough, Estelle Van Tonder

AMTP Proceedings 2020

A sample of 1,243 adult residents of the United States provided insight into an array of issues germane to sustainability. Upon completing a 65-question survey on sustainability, each respondent placed themselves in an eco-group that they felt best corresponded to their own behavior and attitudes towards the task of keeping the planet green for ourselves, and perhaps more importantly, for our posterity. The five groups ranged from the eco-destroyer to the eco-warrior. Within the survey, each respondent provided their opinions regarding seven multi-item scales that primarily addressed green issues; some scales addressed business behavior while others addressed issues such as …

Are Eco-Friendly Cars More Favorable? An Exploratory Study Of Attitude Toward Eco-Friendliness Among Multiethnic Consumers In The U.S., Meng Tian, Sindy Chapa, Michael Walsh, Nicholas Kjaerholt, Ailin Xia

AMTP Proceedings 2020

Between technological developments in the car industry and increasing interest in eco friendly products among consumers, eco-friendly cars are gradually entering consumers' sights. This study examines the factors that influence consumers’ attitudes toward the adoption of eco-friendly cars. This study conducted an online survey with a sample (N = 3,191) collected through a national panel (Dynata). The results demonstrate that consumers’ concern about environmental sustainability and attitude towards environmentally friendly products impact consumers’ attitudes toward eco-friendly cars. It was also found that consumer’s level of collectivism positively influence their attitude toward environmentally friendly products. Further, the results showed consumers’ attitudes …

Do Overall Dimension Ratings From Assessment Centres Show External Construct-Related Validity, Andreja Wirz, Klaus G. Melchers, Martin Kleinmann, Filip Lievens, Hubert Annen, Urs Blum, Pia V. Ingold

Research Collection Lee Kong Chian School Of Business

There have been repeated calls for an external construct validation approach to advance our understanding of the construct-related validity of assessment centre dimension ratings beyond existing internal construct-related validity findings. Following an external construct validation approach, we examined whether linking assessment centre overall dimension ratings to ratings of the same dimensions that stem from sources external to the assessment centre provides evidence for construct-related validity of assessment centre ratings. We used data from one laboratory assessment centre sample and two field samples. External ratings of the same dimensions stemmed from assessees, assessees’ supervisors, and customers. Results converged across all three …

An Assessment Of The Effectiveness Of Central Bank Sterilization On Capital Inflows In Nigeria, Tijjani M. Jume

CBN Journal of Applied Statistics (JAS)

This paper assesses the monetary policy response of the Central Bank of Nigeria (CBN) to increases in capital inflows into Nigeria using monthly time series data from January 2009 to December 2017. It presents an econometric assessment of the degree to which the CBN sterilizes net foreign assets (NFA) in response to the capital flows, using Autoregressive Distributed Lag (ARDL) Bounds testing approach. The long run sterilization coefficient obtained suggests that the CBN successfully offset 95per cent of capital inflows in the period of analysis. Against the background of rising financial instability in Nigeria, the study illustrates how sterilization has …

Decomposing Employment Growth In Selected Sub-Saharan African Countries: The Roles Of Structural Changes And Demographic Transition, Abidemi C. Adegboye, Clement A.U. Ighodaro

CBN Journal of Applied Statistics (JAS)

The challenge of employment growth in SSA countries goes beyond economic growth prospects to include structural and demographic dimensions. This study examines the relative contributions of structural changes and demographic factors to employment growth for a set of sub-Saharan Africa (SSA) countries using available annual data from 1970 to 2014. A decomposition approach is employed in the study using the Jobs Generation and Growth (JoGGs) method which generates results that show distributive components of employment, productivity and output changes over time in a system whereby the roles of economic structure and demographic changes could be observed. The study shows that …

Pass-Through Of Crude-Oil Price Shocks To Consumer Prices In Nigeria: Pre And Post 2008 Global Financial Crisis, Eric I. Otoakhia

CBN Journal of Applied Statistics (JAS)

This study investigates the responses of consumer price index (CPI) to crude oil price shocks in the pre- and post-2008 global financial crisis. The study used the Structural Vector Autoregressive model to analyze monthly data from 2000M01 to 2019M12. The impulse response analysis showed that for pre and post-crisis periods, oil price shocks have a positive impact on CPI. This impact was an insignificant direct momentary increase in pre-crisis CPI before dissipating. Conversely, the impact on post crisis CPI response tends to be stable and long-lasting starting from the third month. The confidence bands for the post crisis CPI are …

Asymmetric Impact Of Oil Price On Inflation In Nigeria, Sani Bawa, Ismaila S. Abdullahi, Danladi S. Tukur, Sani I. Barda, Yusuf J. Adams

CBN Journal of Applied Statistics (JAS)

This study examines the impact of oil price shocks on inflation in Nigeria. A Non-Linear Autoregressive Distributed Lag (NARDL) approach was applied on quarterly data spanning 1999Q1 to 2018Q4. Results showed that oil price increases led to increase in headline, core and food measures of inflation in Nigeria. However, a decline in oil price resulted in a decline in the marginal cost of production and culminated in moderation of domestic inflation. Furthermore, negative oil price shocks led to higher inflation in Nigeria when exchange rate is dropped from the models, indicating that exchange rate absorbed the impact of oil price …

Markov Regime-Switching Autoregressive Model Of Stock Market Returns In Nigeria, Oluwasegun A. Adejumo, Seno Albert, Omorogbe J. Asemota

CBN Journal of Applied Statistics (JAS)

This study is designed to model and forecast Nigeria’s stock market using the All Share Index (ASI) as a proxy. By employing the Markov regime-switching autoregressive (MS-AR) model with data from April 2005 to September 2019, the study analyzes the stock market volatility in three distinct regimes (accumulation or distribution – regime 1; big-move – regime 2; and excess or panic phases – regime 3) of the bull and bear periods. Six MS-AR candidate models are estimated and based on the minimum AIC value, MS(3)-AR(2) is returned as the optimal model among the six candidate models. The MS(3)-AR(2) analysis provides …

Impact Of Interest Rate Differential And Exchange Rate Movement On The Dynamics Of Nigeria’S International Private Capital Flows, Tari M. Karimo

CBN Journal of Applied Statistics (JAS)

The study examines the impact of interest rate differential and exchange rate movement on the dynamics of Nigeria’s international private capital flows from 2010Q1 to 2019Q4. It uses the interest rate parity theory and the Markov Switching Time Varying Transition Probability Modelling approach. Findings show that interest rate differential does not explain the dynamics of aggregate capital and Foreign Direct Investment (FDI) flows, but significantly explains Foreign Portfolio Investment (FPI) flows. Also, Movement in real exchange rate is significant in explaining outflows and inflows in FPI, and inflows in FDI, but neutral to aggregate capital flows. The study concludes that …

Currency Substitution And Exchange Rate Volatility In Nigeria: An Autoregressive Distributed Lag Approach, Isaiah O. Ajibola, Sylvanus U. Udoette, Rabia A. Muhammad, John O. Anigwe

CBN Journal of Applied Statistics (JAS)

This study investigates the relationship between exchange rate volatility and currency substitution in Nigeria, using Autoregressive Distributed Lag (ARDL) model. After accounting for the presence of structural breaks, evidence from the findings shows that domestic interest rate and expected changes in exchange rate are important determinants of currency substitution. In addition, there is empirical support for a positive relationship between exchange rate volatility and currency substitution both in the short- and long-run. This implies that higher real exchange rate volatility is associated with an increased level of currency substitution. In view of these findings, the paper calls for sustained efforts …

Debt Covenant Condition And The Relative Use Of Operating Lease And Long-Term Debt, Daniel Gyung Paik, Brandon Byunghwan Lee, Joyce Van Der Laan Smith, Sung Wook Yoon

Accounting Faculty Publications

Purpose: We investigate the relationship between off-balance-sheet (OBS) operating leases and long-term debt by analyzing firms’ debt risk profiles measured by the constraints on firms in the financial ratios in their debt covenants.

Design/methodology/approach: We determine debt risk profiles using three measures: the ex- ante probability of covenant violation (Demerjian and Owens, 2016), firms in violation of debt covenants, and firms close to covenant violations.

Findings: High-risk firms according to all three measures, on average, have a significantly lower level of operating leases, indicating that these firms use OBS leases as a substitute for long-term debt. More interesting, for firms …

Eagle Accountant - 2020, Georgia Southern University

Eagle Accountant

• Note from the Director
• SOA at a Glance
• The 4.4 Accountant
• Accounting Day 2020
• Accounting Day Scholarships
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• December 2019 Graduates
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• Graduating Student Photos
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• Accounting …

Re-Thinking Risk Management Of Auction House Guarantees And Third-Party Irrevocable Bids, Nathan Krasnick

MA Theses

This paper addresses the question of how deviations between expected and actual art auction results impact the auction guarantees made within an artist’s market and among multiple artists, and whether those impacts can be identified and quantified. To do so, I use a theoretical pricing model based on datasets of historical auction records going back to the earliest available date for a specific artist but no further than 2010. I find that, in comparing the model’s expected and actual results to empirical price deviations at auction, we can identify and quantify the impact of those deviations on guarantees.

The Art Of Marketing Luxury, Aiho Tan

MA Theses

Luxury businesses face the paradoxical challenge of growing a business whilst upholding an aura of exclusivity. The objective of this thesis is to examine the key marketing strategies employed by leading luxury brands ranging from fine art to real estate. This paper examines whether luxury brands need to embrace digital innovation and technology in order to remain leaders of luxury. First-hand insight from industry leaders and case studies reveal that luxury brands need to embrace digital, utilize the power of experiential marketing strategies, invest in creative talent, strategically partner and collaborate with brands and individuals, and craft an authentic narrative …

The Old Masters Market And The Salvator Mundi: What Did It Do, What Can Be Done?, Mary Sullivan

MA Theses

On 3 November 2017, within the Post-War & Contemporary Evening Sale at Christie's auction in New York, nestled between a Vija Celmins and Jean-Michel Basquiat, was a painting attributed to Leonardo da Vinci, the Salvator Mundi (1490-1500.) The work quadrupled the estimated sale price of 100 million USD, hammering at 400 million (for a total of 450.3 million with buyer’s premium.) This work, setting the record for the most expensive work of art ever sold, at auction or private, creates a curious case for the Old Masters category. What appears to be a shrinking, potentially dwindling category of art, now …

Female Transnational Entrepreneurs (Ftes): A Case Study Of Korean American Female Entrepreneurs In Silicon Valley, June Y. Lee, Jane Lee

Research Collection School of Social Sciences

Increasingly, studies of entrepreneurship and migration have examined the role of immigrant entrepreneurs in revitalising and diversifying the economy of the host society. Further, recent transnational skilled entrepreneurs have been understood as being much more mobile in building international networks and collaborations between their home and host societies. These studies have tended to focus on the technically oriented entrepreneurs and to produce a single grand narrative about a particular migrant group that transfers knowledge and becomes a technical pioneer in their home society. This article scrutinises a group of first-generation Korean American female transnational entrepreneurs (FTEs) living in Silicon Valley …

Sale-Leaseback Transactions: Price Premiums And Market Efficiency, C. F. Sirmans, Barrett A. Slade

Faculty Publications

Sale-leaseback transactions are ubiquitous in real estate markets in the United States with annual volume estimated to be greater than $7 billion. However, there is no evidence concerning the price impact of such transactional arrangements. Using a data set of sale-leaseback transactions, this study examines the price impact on commercial property transactions across seven markets. The findings reveal that transactions structured as saleleasebacks occur at significantly higher prices than market transactions. In addition, after accounting for income differentials, buyers and sellers are appropriately pricing the transactions resulting in no undue advantage to either party, that is, the expected price premium …

Sizing Up Corporate Restructuring In The Covid Crisis, Robin Greenwood, Benjamin Iverson, David Thesmar

Faculty Publications

In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and thus need to be liquidated or reorganized. Many surviving firms will need to be downsized or acquired. In normal times, this triage is supported by the court system, banks, and financial markets. The goal of this paper is to size up the coming surge of financial distress, list the challenges it presents in the current environment, and analyze potential policy solutions. …

Provocation And Related Subjective Experiences Along The Dark Tourism Spectrum, Andrew Lacanienta, Gary Ellis, Brian Hill, Patti Freeman, Jingxian Jiang

Faculty Publications

We examined relations between ‘darkness’ of dark tourism sites, provocation, and select indicators of the quality of visitors’ immediate subjective experiences. Experience observations (N = 101) were collected from tourists who visited Auschwitz (Krakow), Schindler’s Factory (Krakow), Execution Square (Paris), and a ghost tour (Edinburgh). Research participants completed measures of provocation and quality of experience at the end of their visits to each site. Hypotheses were founded in four theories: self-determination theory, cognitive dissonance theory, arousal theory, and the theory of structured experience. These hypotheses proposed that particular experience outcomes vary according to the ‘darkness’ of the dark tourism site. …

Rethinking Leisure Time Use Metrics: Greater Diversity In Shared Sibling Leisure Is Associated With Higher Relationship Quality During Emerging Adulthood, Eric K. Layland, Camilla Hodge, Mikala Glaza, Jerrica O. Peets

Faculty Publications

Leisure diversity—the total number of unique leisure categories shared within a sibling dyad—may vary according to sibling characteristics (e.g., sibling gender, age difference) and predict sibling relationship quality. Using triangulated lists, brief narratives, and focus groups, we constructed a taxonomy of shared sibling leisure in emerging adulthood and then calculated individual leisure diversity scores. The sample (N ¼ 185) included college-attending emerging adults with an average age of 20.1 years (35.7% female). Taxonomic analysis suggested 19 categories of shared sibling leisure. Analyses of variance indicated differences by dyadic gender composition in endorsement rates of select leisure categories and average levels …

Dealing With Dysfunction: Negotiating With Difficult Individuals, Marc-Charles Ingerson, Kristen Bell Detienne, Jill M. Hooley, Nathan A. Black

Faculty Publications

Workplace negotiations often present daunting challenges. The negotiation process can test relationships and place reputations at risk. Moreover, in some situations, the difficulty and stress involved in routine negotiations become magnified. Approximately ten percent of working adults have personality styles or behavioral tendencies that can make interactions with them especially challenging. Identifying, understanding, and dealing with personality dysfunction in the negotiation process is therefore a critically important skill (Kessler et al. 2005; Eddy 2018). Today’s negotiators need to be able to recognize and interact with people who have difficult and dysfunctional personality traits.

Unfortunately, many of those on the receiving …

In Situ Engagement During Structured Leisure Experiences: Conceptualization, Measurement, And Theory Testing, Gary D. Ellis, Jingxian Jiang, Patti A. Freeman, Andrew Lacanienta, Elizabeth J. Ellis

Faculty Publications

We conducted an experiment to test theoretical propositions relating coherence, personalization, and provocation to in-situ engagement, deep experience, delight, and perceived value of time spent. Four hundred adults from a national panel viewed one of eight versions of a video centered on a character in Victor Hugo’s classic novel Les Miserables, and then completed measures of engagement, deep experience, delight, perceived value of time spent, preexisting familiarity with the story, and the subjective experience of provocation. Each video represented a unique combination of presence or absence of the three hypothesized determinants: coherence, personalization, and provocation. Coherence, personalization, and preexisting familiarity …

Factors That Facilitate Or Impair Kinesic And Vocalic Nonverbal Behaviors During Interpersonal Deception, Judee K. Burgoon, Lauren M. Hamel, J. Pete Blair, Nathan W. Twyman

Faculty Publications

Nonverbal demeanor has long been thought to be a high-fidelity display window into a person’s inner self. At the same time, nonverbal behaviors are thought by laypeople to be reliable indicators of dissembling. In the realm of deception, both of those beliefs are true—and false. Humans can choose to reveal their personal identity, affiliations, attitudes, and behavioral inclinations through their nonverbal presentation of self. But, as the adaptive creatures that they are, humans also use their nonverbal actions to fabricate, conceal, and evade. In this respect, deception can disguise the true self and yet can also betray the truth. In …

The Practice Of Waqf Land Development In Malaysia: A Social Enterprise Business Perspective, Mohd Ali Norinah

Student Works (2020-2029)

A large percentage (92.8 percent) of waqf lands in Malaysia are undeveloped due to inefficiency of waqf management and financing by the State Islamic Religious Councils (henceforth referred to as the Councils) that function as waqf trustees responsible for generating income from the current waqf to fulfill the needs of the beneficiaries and societies. In view of this issue, the objectives of this thesis are fourfold: (1) To examine the current waqf land development models employed by the Councils as social enterprises in Malaysia; (2) To examine the organizational strengths and weaknesses of the Councils in developing waqf lands; (3) …

Collaborative Regulatory Development In The Mobile Money Sector: A Case Study In Sri Lanka, Suwandaarachchi Chaminda Methsiri

Student Works (2020-2029)

Providing financial services for the unbanked has been challenging, mainly due to relatively high operational costs and the difficulty of reaching remote areas. Mobile money has brought bank-like facilities to the unbanked communities, through its low-cost operations and widespread agent network, thus making them financially included. Regulatory response and support are essential for this advancement, where they necessitate significant changes to the current regulatory practices. This task is difficult for regulators due to their limited technical knowledge and resources in the field of financial technologies. Regulators collaborate with industry to overcome these challenges. However, studies on such collaborations are scarce. …