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Article
Publication date: 1 December 2001

Stewart Jones and Rohit Sharma

Outlines the rapid growth of “new economy” companies in Australia and compares their levels of earnings management with “old economy” firms, using data on all Australian…

Abstract

Outlines the rapid growth of “new economy” companies in Australia and compares their levels of earnings management with “old economy” firms, using data on all Australian listed companies. Reviews the relevant research, explains the methodology and presents the results. Shows that the old economy firms do engage in significant earnings management which is positively associated with leverage and free cash flow levels but, surprisingly, that this is far less evident in the new economic sector. Considers consistency with other research, the underlying reasons for the findings (including regulatory constraints) and opportunities for further research.

Details

Managerial Finance, vol. 27 no. 12
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 1 October 2014

Michael Donadelli

This chapter measures financial integration in 10 industries over 4 different periods. We use two robust measures of integration: (i) the Pukthuanthong and Roll (2009)’s…

Abstract

This chapter measures financial integration in 10 industries over 4 different periods. We use two robust measures of integration: (i) the Pukthuanthong and Roll (2009)’s multi-factor R-square and (ii) the Volosovych (2011)’s integration index. Both measures, based on PCA, indicate that the difference between the level of integration over the period 2009–2012 (“Post-Lehman” era) and the level of integration over the period 1994–1998 (“Post-Liberalizations” era) is relatively high. In addition, the level of financial integration across international equity markets decreased during the late 1990s. This suggests that de jure integration does not necessarily improve de facto integration. Overall, our findings give rise to a “diversification benefits-insurance benefits trade-off.”

Details

Risk Management Post Financial Crisis: A Period of Monetary Easing
Type: Book
ISBN: 978-1-78441-027-8

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Article
Publication date: 12 February 2020

Jeen-Su Lim, Phuoc Pham and John H. Heinrichs

Firms are increasingly using social media platforms to engage with individuals, as it is recognized that a firm’s social media activity outcomes, such as number of user…

Abstract

Purpose

Firms are increasingly using social media platforms to engage with individuals, as it is recognized that a firm’s social media activity outcomes, such as number of user comments, followers or likes, impact brand equity. This study aims to evaluate both the extent that these social media activity outcomes relate to brand equity and the classification of firms which benefit from the various types of social media activity outcomes.

Design/methodology/approach

This study identifies various components of social media activity and then captures specific social media activity outcomes for Fortune 500 firms. This study then performs a hierarchical regression analysis to assess the impact of the various social media activity outcomes on brand equity.

Findings

The results show significant relationships of social media activity outcomes with brand equity. The activity outcome measures of social networking and content communities platform are significantly related to a firm’s brand equity. This study also found that the social media activity outcome levels of various types of social media platforms are contingent upon a firm’s brand country of origin and industry classification type.

Practical implications

The results help firms gain a clearer view of potential applications of social media platforms, thus improving their understanding of the impact of social media. This study can enhance social media strategy and design tactics to improve brand equity. The findings can also guide firms in evaluating which social media activity outcomes enhance brand equity.

Originality/value

The results highlight that activity outcomes in a firm’s selected content communities platform and social networking platform are related to brand equity.

Details

Journal of Product & Brand Management, vol. 29 no. 7
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 1 October 2006

Pervaiz Alam and Charles A. Brown

This paper seeks to investigate whether disaggregated bank earnings better predict next period earnings than contemporaneous aggregated earnings.

Abstract

Purpose

This paper seeks to investigate whether disaggregated bank earnings better predict next period earnings than contemporaneous aggregated earnings.

Design/methodology/approach

Fairfield et al.'s (1996) regression approach is used for predicting next period's return of equity (ROE) and stock prices using disaggregated earnings data.

Findings

The results show that the mean adjusted R‐square significantly increases with the progressive disaggregation of earnings. The results also demonstrate that disaggregated components are better able to predict next period earnings and stock prices than aggregated earnings.

Research limitations/implications

The findings support the US Financial Accounting Standard Board's contention that disaggregated information may be more useful than aggregated information for investment, credit, and financing decisions.

Practical implications

Investors and analysts should use disaggregated income statement information in predicting next period earnings and stock prices for the banking industry.

Originality/value

The main contribution of this paper is to demonstrate how fully disaggregated earnings explain ROE, stock prices, and analysts forecast error in the banking industry.

Details

Review of Accounting and Finance, vol. 5 no. 4
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 1 July 2002

John E. Cresson, R. Mike Cudd and Tom J. Lipscomb

Notes the popularity of index funds with US investors, refers to research on fund performance compared with indexes and presents a study comparing daily returns of S&P 500…

Abstract

Notes the popularity of index funds with US investors, refers to research on fund performance compared with indexes and presents a study comparing daily returns of S&P 500 index funds with the index itself. Explains the methodology and presents the results, which show that the funds “fall well short” of tracking the index efficiently; although larger funds and/or those with longer term managers have a better tracking performance. Considers consistency with other research and the implications of the findings.

Details

Managerial Finance, vol. 28 no. 7
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 June 2001

Casey L. Donoho, Michael J. Polonsky, Scott Roberts and David A. Cohen

Confirms the empirical test of Hunt and Vitell’s general theory of marketing ethics by Mayo and Marks across four cultures. Uses path analysis to show the core…

Abstract

Confirms the empirical test of Hunt and Vitell’s general theory of marketing ethics by Mayo and Marks across four cultures. Uses path analysis to show the core relationships of the general theory of marketing ethics were successfully replicated using over 1,500 students from seven universities in the USA, Canada, the Netherlands, and Australia. States that tomorrow’s managers appeared to use a more deontological approach to making ethical judgements about personal selling. Extends its original research by confirming the positive relationship between the probability and the desirability of consequences. Concludes that, although the model was originally intended to explain management ethical decision making, the study shows that it may be possible to generalize as to how individuals make ethical life decisions.

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Asia Pacific Journal of Marketing and Logistics, vol. 13 no. 2
Type: Research Article
ISSN: 1355-5855

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Abstract

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Managerial Finance, vol. 31 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 December 1997

William C. Johnson and Keith Bhatia

Asserts that innovation, which plays a key role in product and process improvement in many companies, is the very lifeblood of high technology firms. Considers that…

Abstract

Asserts that innovation, which plays a key role in product and process improvement in many companies, is the very lifeblood of high technology firms. Considers that because technological change is a function of the economic growth model then technological substitution must be a sub‐function of this model. The ability to forecast technological substitution in the long‐term macro view enables strategic planners to develop trends for their specific technological application. Begins with a brief statement of the problem, followed by a discussion of the theoretical framework, review of related literature, methodology, findings, discussion of findings and their implications and, finally, recommendations to practitioners.

Details

Journal of Business & Industrial Marketing, vol. 12 no. 6
Type: Research Article
ISSN: 0885-8624

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Book part
Publication date: 29 May 2020

Femi Oladele and Timothy G. Oyewole

Abstract

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Social Media, Mobile and Cloud Technology Use in Accounting: Value-Analyses in Developing Economies
Type: Book
ISBN: 978-1-83982-161-5

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Article
Publication date: 1 January 2003

Stewart Jones

In a recent US study, Lev and Zarowin (1999) documented a steady decline in the value relevance of financial statements over a twenty year period. They attribute this…

Abstract

In a recent US study, Lev and Zarowin (1999) documented a steady decline in the value relevance of financial statements over a twenty year period. They attribute this decline, in part, to the inadequate financial reporting of intangibles, and particularly US accounting requirements for the immediate expensing of these items. In contrast to US accounting standards, capitalization of R&D expenditure is permitted in Australia under Approved Australian Accounting Standard AASB 1011 “Accounting for Research and Development Costs.” As expected, the capitalization of intangibles was found to be significantly higher in the new economy sector, with an increasing trend towards capitalization over the past five years. The results are broadly consistent with the US study. However, while not unequivocal, the results also suggest that the earnings‐return relationship was steadier, and the cash flow‐return relationship stronger overall in the new economy sector, indicating some tentative support for proponents of capitalization.

Details

Review of Accounting and Finance, vol. 2 no. 1
Type: Research Article
ISSN: 1475-7702

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