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Full-Text Articles in Accounting
New Ventures: Control Of Risks Through Strategies, Simone Kelly, Raymond Mcnamara
New Ventures: Control Of Risks Through Strategies, Simone Kelly, Raymond Mcnamara
Simone Kelly
This paper uses case studies and interview data to explore the relationship between control and new venture success/survival. A model of the new venture control process is distilled and explored in six new venture cases. The control processes were traced through an examination of the everyday language of venture principals to determine a grounded lower order model. Integrating these models into contingency theory locates strategic risk reduction choices as the crucial link between contingent variables and organizational control packages. In this sense the process of organizing is seen as a tiered process of risk reduction: successful firms analyze and control …
Audit Committee Characteristics And Firm Performance During The Global Financial Crisis, Husam Aldamen, Keith Duncan, Simone Kelly, Ray Mcnamara, Stephan Nagel
Audit Committee Characteristics And Firm Performance During The Global Financial Crisis, Husam Aldamen, Keith Duncan, Simone Kelly, Ray Mcnamara, Stephan Nagel
Simone Kelly
We address the question ‘do governance enhancing audit committee (AC) characteristics mitigate the firm performance impact of significant-adverse-economic events such as the Global Financial Crisis (GFC)?’ Our analysis reveals that smaller audit committees with more experience and financial expertise are more likely to be associated with positive firm performance in the market. We also find that longer serving chairs of audit committees negatively impacts accounting performance. However, accounting performance is positively impacted where ACs include blockholder representation, the chair of the board, whose members have more external directorships and whose chair has more years of managerial experience. We contribute to …
Empires Of The Mind: Cross Cultural Cooperative Business Education, Keith Duncan, Simone Kelly, Raymond Mcnamara
Empires Of The Mind: Cross Cultural Cooperative Business Education, Keith Duncan, Simone Kelly, Raymond Mcnamara
Simone Kelly
This paper explores current trends in knowledge growth and decay, globalization, technology and education. Business education in the new millennium is shaped by these trends. This contextual backdrop raises both educational and business issues which are explored with exemplars from a successful cross-cultural blended MBA program. The educational issues considered include educational relevance, lifelong learning objectives, education vs. training, needs of the target audience, what is the language of instruction, as well as issues of assessment and outcome measurement. The business issues include a fair return to all parties, responsibilities, management and communication systems and dispute resolution. In a globalized, …
Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly
Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly
Simone Kelly
One criticism of failure prediction models is the bias resulting from pooling failure data over years when economic conditions might influence the failure of a firm. This research incorporates both macroeconomic variables and firm specific variables in explaining corporate failure. The results suggest that including economic variables improve the explanation of failure by ten percent. The economic variables included in the analysis were one-year lag in change in GDP, a two-year lag in interest rates, a one-year lag in the share price index, and a one-year lag in corporate profits. Economic variables were identified using a principal component analysis of …
Inventory Valuation, Company Value, And The Uncertainty Principle, Catherine Whelan, Simone Kelly, Ray Mcnamara, Jasper Verkleij
Inventory Valuation, Company Value, And The Uncertainty Principle, Catherine Whelan, Simone Kelly, Ray Mcnamara, Jasper Verkleij
Simone Kelly
Extract:One of the key elements to the operation of capital markets is information efficiency (Ball and Brown 1968). Both the IASB and the FASB frameworks emphasize decision usefulness, particularly to investors in capital markets, as the primary focus of general purpose financial statements. While theoretically, market values are determined by estimating discounted cash flows (Copeland, Weston et al. 2005; Brealey 2007), practical observations suggest a role for accounting information in the valuation process. Market information suggests that practitioners use the accounting performance measure “earnings” for firm valuation and determination of share prices.
Gas Reserves And Equity Valuation: Implications For Accounting Standards, Keith Duncan, Simone Kelly, Ray Mcnamara
Gas Reserves And Equity Valuation: Implications For Accounting Standards, Keith Duncan, Simone Kelly, Ray Mcnamara
Simone Kelly
The coal seam gas industry is an important and rapidly developing sector of the Australian mining industry. This sector provides an excellent site to test the relevance of the Hotelling Valuation Principle (HVP) in explaining the market capitalisation of this industry sector. Currently, the majority of listed firms in this sector do not have positive cash flows from the sale of gas. The HVP posits that market values are a function of company reserves. We test five measures of firm reserves as explanations of market capitalisation. After controlling for scale differences, we find that 2P Reserves have the highest explanatory …