Segment reporting and corporate takeovers : user needs

The nature of a corporate takeover often leads to the contraction in the number of companies operating in a given industry classification, along with the contraction in the amount of formal financial statements produced by the companies in that industry. Since 1985 Australian diversified companies are required to break their operations down into industry and geographical segments, so it would be expected that companies which diversify their operations through a corporate takeover would be forerunners in the adoption of this relatively new accounting standard on segment reporting. While previous studies have both declared the benefits of segment reporting to report users, and exposed some preconceived problems of its application in practice, there has not been any work on the 'usefulness1 of segment reporting as a form of reporting that will compensate shareholder users for the information loss suffered during a corporate takeover. This study endeavours to determine this, by questioning shareholders of companies that have been involved in takeovers in a period subsequent to the application date of the segment reporting standard, and obtaining their views on the usefulness of the post-takeover segment reports produced by their companies. A link is discovered to exist between shareholder dissatisfaction with segment reporting and the non-practice of creating a new segment in the post-takeover annual report for the target acquired. The underlying assumption that the practice of new segment creation after a takeover is influenced by the type of takeover undertaken is supported by the study. Regardless of whether or not a company is diversified before the takeover, the findings show that a corporate acquirer in a takeover is less likely to create a new industry or geographical segment for the target acquired if they are involved in horizontal or vertical takeovers than if they are involved in diversified takeovers. In these situations, segment reporting is found to not compensate shareholders for the loss of information incurred by them in these types of takeovers.

Preventing weight and muscle concerns among preadolescents

The high level of weight and shape concerns amongst preadolescent children has prompted interest in the development of prevention programs for this age group. In the 1990s weight and shape concerns were considered primarily an adolescent phenomenon. However, prevention programs which have been designed with adolescent and adult populations have been found to show limited success. Some researchers have argued that programs which target preadolescent children are more likely to be effective than programs that target adolescents, as by adolescence many attitudes and behaviours have become entrenched so they may be more difficult to modify. On the other hand, children's weight and shape concerns are believed to be more malleable and amenable to change. To date there have been limited controlled studies implementing prevention programs designed to reduce weight and shape concerns with preadolescent populations. The new study conducted as part of this thesis involves the development and implementation of the ‘Everybody’ s Different, Nobody Else Is Me’ preadolescent prevention program. The program was designed to address some of the methodological biases of past research and incorporate three risk factors, social comparisons, negative affect, and self-esteem, to reduce and/or prevent the development of weight and muscle concerns among children. These three risk factors have been found to be associated with weight and shape concerns of adolescents and adults, and there is also increasing evidence that they are important factors among children. Research also suggests that social comparisons, negative affect, and self-esteem are interrelated, which highlights the importance of targeting the variables in one program. The new five session prevention initiative was implemented with 156 grade four children. Both the treatment and control conditions consisted of 78 children. Preliminary evidence from the new prevention initiative indicated that the program reduced muscle bulk and exercise (ie. An over-emphasis on exercise to lose weight rather than health promotion), and negative affect in the long term as assessed by the six month follow-up. At the six month follow-up, children in both the treatment and control conditions reported reduced negative affect, dieting, and muscle bulk and exercise scores and increased positive affect. Consistent with short term follow-up results, boys reported greater muscle bulk and exercise scores than girls at the six month follow-up. Girls, in both conditions, were also found to report greater positive affect than boys. These findings are discussed in relation to past research, and suggestions for future prevention initiatives are highlighted.

Prevention of body concerns and risk behaviours in adolescent boys

Overall, this thesis was designed to explore the nature of adolescent boys' body image, the effects of body image on body change strategies and psychological adjustment, and the factors that influence body image. The first study examined body image in 362 adolescent boys. Body image was considered in terms of attitudes to different body parts and attributes, including, lower, middle and upper body, as well as weight, shape and muscles. The relationships between Body Mass Index (BMI), body image, sociocultural messages, psychological adjustment and body change strategies, including strategies to decrease weight and increase muscles using food and exercise, drive for thinness, bulimic attitudes and behaviour, excessive exercise, food supplements to lose weight, increase muscles and steroids, were also investigated. Multiple regression analyses were used to examine the role of body image, sociocultural messages and psychological adjustment to predict satisfaction with different body attributes and body change strategies. The findings from study one led to the development of a program aimed at preventing the development of unhealthy attitudes and behaviours among adolescent boys. Study two involved the implementation and evaluation of this prevention program. One hundred and twenty one boys participated in the program. The program was based on social-cognitive theory, and included a focus on accepting differences and the development of self-esteem. The boys who participated in the program indicated some change in existing attitudes and showed less development of risk behaviours relative to the control group. The implications of the findings from this thesis in relation to future research, as well as the prevention of adolescent boys' body image problems are discussed.

Differential reporting policy in a changing financial environment

To contend with the globalisation of capital markets the Financial Reporting Council (FRC) in Australia has embarked on a convergence program with International Financial Reporting Standards (IFRS). The convergence program is a significant departure from present financial reporting policy and will necessitate substantial change by reporting entities. The effectiveness of the existing differential reporting policy is drawn into question in the light of the changes taking place. An evaluation of the perceptions of the effectiveness of the extant differential reporting model is undertaken and alternative policy approaches considered. The findings indicate that certain aspects of the differential reporting model have had inherent problems not necessarily related to the recent policy change and that corrective action needs to be undertaken to maintain its relevance.