Principles-Based Accounting of Information User Perspective–The Impact of the Supervisory Guidelines on Accounting of Financial Service Committees on the Market Response of Accounting Information

2020 ◽  
Vol 29 (6) ◽  
pp. 245-278
Author(s):  
Young-Han Lee ◽  
Sung-Hee Ahn ◽  
Mun-Ho Hwang
Keyword(s):  
Accounting Information ◽  
Financial Service ◽  
Market Response ◽  
User Perspective ◽  
Information User ◽  
The Impact

The Determinants of Merger Withdrawals’ Abnormal Returns in The Australian Market

2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy
Keyword(s):  
Financial Crisis ◽  
Event Study ◽  
Abnormal Returns ◽  
Market Response ◽  
Crisis Period ◽  
Valuation Effects ◽  
Event Study Method ◽  
Private And Public ◽  
Method Of Payment ◽  
The Impact

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.

THE USE OF ACCOUNTING INFORMATION IN GOVERNMENTAL REGULATION AND PUBLIC ADMINISTRATION: THE IMPACT OF JOHN R. COMMONS AND EARLY INSTITUTIONAL ECONOMISTS

1995 ◽  
Vol 22 (1) ◽  
pp. 1-33 ◽  
Author(s):  
Mark A. Covaleski ◽  
Mark W. Dirsmith ◽  
Sajay Samuel
Keyword(s):  
Public Administration ◽  
Progressive Era ◽  
Political Process ◽  
Accounting Information ◽  
Turn Of The Century ◽  
Governmental Regulation ◽  
Calculative Practices ◽  
The Impact ◽  
Return Regulation ◽  
Intrinsic Measure

This paper examines the socio-political process by which an ensemble of such calculative practices and techniques as accounting came to be developed, adopted, and justified within turn-of-the-century public administration. We are particularly concerned with examining the influence of John R. Commons and other early institutional economists during this Progressive era. Using primary and secondary archival materials, our purpose is to make three main contributions to the literature. First, the paper explores Commons' contribution to the debates over “value” which seems to be somewhat unique in that he explicitly recognized that there exists no unproblematic, intrinsic measure of value, but rather that it must be socially constituted as “reasonable” with reference to common law. To illustrate this point, this paper explores Commons' role in the historical development and implementation of rate of return regulation for utilities. Second, the paper describes the contradictory role accounting played during this period in ostensibly fostering administrative objectivity while accommodating a more pragmatic rhetoric of “realpolitik” in its development and deployment. The third contribution is to establish a linkage between current work in economics and accounting concerned with utility regulation and the debates of ninety years ago, noting that Commons' contribution has not been fully explored or recognized within the accounting literature.

The Relation between Accounting Information in Debt Covenants and Operating Leases

2015 ◽  
Vol 29 (4) ◽  
pp. 969-996 ◽  
Author(s):  
Daniel Gyung H. Paik ◽  
Joyce A. van der Laan Smith ◽  
Brandon Byunghwan Lee ◽  
Sung Wook Yoon
Keyword(s):  
Balance Sheet ◽  
Accounting Information ◽  
Debt Covenants ◽  
Debt Contracts ◽  
Debt Contracting ◽  
Income Statement ◽  
Operating Leases ◽  
The Impact ◽  
Accounting Ratios ◽  
Lease Accounting

SYNOPSIS Proposed changes by the FASB and the IASB to lease accounting standards will substantially change the accounting for operating leases by requiring the capitalization of future lease payments. We consider the impact of these changes on firms' debt covenants by examining the frequency of income-statement- versus balance-sheet-based accounting ratios in debt covenants of firms in high and low Off Balance Sheet (OBS) lease industries. Based on debt contracts from the 1996–2009 period, our results provide evidence that lenders focus on balance sheet (income statement) ratios in designing debt covenants for borrowers in low (high) OBS lease industries. Further, the use of balance-sheet- (income-statement-) based covenants falls (rises) faster in high OBS lease industries than in low OBS lease industries as the use of OBS leasing increases. This evidence indicates that OBS operating leases influence lenders' use of accounting information in covenants, suggesting that creditors consider the impact of OBS leases when structuring debt agreements. These results also suggest that the proposed capitalization of OBS leases may not result in firms violating loan covenants but will make the balance sheet a more complete source of information for debt contracting by removing the need for constructive capitalization of OBS leases.

Accounting Information Systems in Public Sector towards Blockchain Technology Application: The Role of Accountants’ Emotional Intelligence in the Digital Age

2021 ◽  
Vol 12 (1) ◽  
pp. 73-94
Author(s):  
Pham Quang Huy ◽  
Vu Kien Phuc
Keyword(s):  
Emotional Intelligence ◽  
Public Sector ◽  
New Technology ◽  
Accounting Information ◽  
Accounting Information System ◽  
Accounting Information Systems ◽  
Technology Application ◽  
Public Sector Organization ◽  
Blockchain Technology ◽  
The Impact

Abstract This research ferreted out to inspect the interconnection between emotional intelligence (EI), Blockchain technology application (BLO) and the effectiveness of Accounting information system (AIS). Survey-based data obtained from 412 respondents were applied to validate the model hypotheses. Building on the statistical analysis with the support of SPSS 25.0 and SMART- PLS (partial least squares) 3.2.8 software package, the model results inferred the impact of EI on BLO. Besides, the outputs of the study accentuated on the importance of BLO on the effectiveness of AIS. These significant additions will optimistically inspire other scholars to carry on exploring the relationship between EI and BLO in enhancing the effectiveness of AIS in research settings as well as in explaining the results. On the other hand, taking these results into consideration could promote much better solutions for issues relevant to EI and new technology application among public sector organization (PSO) in term of increasing the performance of AIS.

Changes in Market Response to Stock Repurchases during the COVID-19 Crisis

2021 ◽  
Vol 50 (4) ◽  
pp. 411-437
Author(s):  
Kyung Hee Park
Keyword(s):  
Stock Prices ◽  
Market Reaction ◽  
Listed Companies ◽  
Shareholder Wealth ◽  
Stock Repurchases ◽  
Market Response ◽  
Stock Repurchase ◽  
South Korean ◽  
The Impact ◽  
A Company

This study analyzed the impact of COVID-19, which, in 2020, globally increased uncertainty about the stock repurchase of South Korean listed companies. The results suggest that the market reaction to stock repurchases during the COVID-19 period was significantly subdued. In particular, the market reaction to KOSPI companies, on stock repurchase, was positive, while it was negative in the case of KOSDAQ companies. It has also been reported that the market ranks lower on the reliability of the signal after the onset of COVID-19. This means that if a company discloses a stock repurchase in a situation where the value of the market as a whole has declined, it cannot be accepted as an undervalued signal. Furthermore, it was revealed that the market responded more positively to the announcement of repurchases by companies that had actively managed shareholder wealth by repeatedly making stock repurchases before COVID-19. These results suggest that companies should always be aware of this, as the market response to stock repurchases in market shockers such as COVID-19 is weaker. Additionally, managers can manage their stock prices more effectively through stock repurchases during market shockers if they consistently manage their stock prices through stock repurchases when companies are undervalued.

scholarly journals The Impact of Accounting on Environmental Costs to Improve the Quality of Accounting Information in the Jordanian Industrial Companies

2017 ◽  
Vol 12 (6) ◽  
pp. 104
Author(s):  
Atalla M. Alqotaish ◽  
Adel M. Qatawneh
Keyword(s):  
Accounting Information ◽  
Environmental Cost ◽  
Environmental Costs ◽  
Statistical Relationship ◽  
Industrial Companies ◽  
Study Results ◽  
Quality Of Accounting Information ◽  
Collective Performance ◽  
The Impact

The Impact of Accounting of Environmental Costs to Improve the Quality of Accounting Information in the Jordanian Industrial Companies is a study aimed to explore the importance of accounting on environmental cost in the improve of the quality of accounting information. Data were collected through from the Jordanian companies and a questionnaire distributed among the workers of offices and departments of accounting in the industrial companies listed in Jordan stock market. The study came up with the following findings: The study has shown that there exists a significant statistical relationship between the size of environmentally-related accounting disclosure of information for publicly owned companies and the adequacy of financial listing of such companies. The study has shown that there exists a significant statistical relationship between Investors decisions and the information provided by the collective performance disclosure. As per the study results, we recommend the following: The necessity of accountants' obligation towards environmentally-related auditing information provided with the financial reports, and the necessity of emphasizing on information importance as provided by the environmentally-related collective performance.

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