Re-examining the financial returns from New Zealand's SOE sector : re-examining privatisation

This paper considers the potential for profit within state-owned enterprises [SOEs] as part of the privatisation debate, through an examination of New Zealand’s SOE sector from 2006 to 2010, extending and comparing findings of an earlier study from 2001 to 2005.

Aligning off-balance sheet risk, on-balance sheet risk and audit fees: a PLS path modelling analysis

This study focuses on using the partial least squares (PLS) path modelling methodology in archival auditing research by replicating the data and research questions from prior bank audit fee studies. PLS path modelling allows for inter-correlations among audit fee determinants by establishing latent constructs and multiple relationship paths in one simultaneous PLS path model. Endogeneity concerns about auditor choice can also be addressed with PLS path modelling. With a sample of US bank holding companies for the period 2003-2009, we examine the associations among on-balance sheet financial risks, off-balance sheet risks and audit fees, and also address the pervasive client size effect, and the effect of the self-selection of auditors. The results endorse the dominating effect of size on audit fees, both directly and indirectly via its impacts on other audit fee determinants. By simultaneously considering the self-selection of auditors, we still find audit fee premiums on Big N auditors, which is the second important factor on audit fee determination. On-balance-sheet financial risk measures in terms of capital adequacy, loan composition, earnings and asset quality performance have positive impacts on audit fees. After allowing for the positive influence of on-balance sheet financial risks and entity size on off-balance sheet risk, the off-balance sheet risk measure, SECRISK, is still positively associated with bank audit fees, both before and after the onset of the financial crisis. The consistent results from this study compared with prior literature provide supporting evidence and enhance confidence on the application of this new research technique in archival accounting studies.

Understanding financial information used to assess small firm performance : an Australian qualitative study

Purpose The purpose of this paper is to investigate the reality of financial and management accounting in a small group of small firms. Specifically, from the owner's perspective, an exploration is undertaken to see what financial information is collected, how it is used (or not) to make business decisions and evaluate the firm's performance, and the role played by the accountant in that process. Design/methodology/approach A phenomenological paradigm underpins this exploratory study. Semi‐structured interviews were undertaken with the owners of ten small firms, where the focus was on understanding what happens in an organisational setting, as opposed to theory and textbook practice. Findings The qualitative data supported prior research in other countries. The in‐depth analysis revealed a very basic understanding of accounting information and problems with the financial literacy amongst these small firm owners. Accounting reports were not widely produced or used, so an informal assessment, such as how much cash was in the bank, was the primary means of assessing business performance. Accountants were used for taxation services, although some owners sought more general business advice. Originality/value An understanding is developed of why there might be a gap between textbook rhetoric and reality of accounting practice in small firms. The conclusion is that accounting textbooks need to include more information about the reality of financial management in small firms.

Institutional investors, risk/return and corporate governance : practical lessons from the Global Financial Crisis

The global grown in institutional investors means that firms can no longer ignore their influence in capital markets. However, not all institutional investors have the same motives to influence the firms they invest in. Institution investors' ability to influence management depends on the size of their investment and whether they have any business relations with the firm. Using a sample of Australian firms from 2006 to 2008, our empirical results show that the proportion of a company's shares held by institutional investors is positively associated with firm governance ratings, risk and profitability. This study shows that a positive association between risk and return is associated with large active institutional ownership, which we interpret as shareholders with sufficient power to pressure management to increase short-term profits.

Split leverage : attacking the confidentiality of linked databases by partitioning

This article considers the risk of disclosure in linked databases when statistical analysis of micro-data is permitted. The risk of disclosure needs to be balanced against the utility of the linked data. The current work specifically considers the disclosure risks in permitting regression analysis to be performed on linked data. A new attack based on partitioning of the database is presented.

Urban Aboriginal and Torres Strait Islander children's exposure to stressful events : a cross sectional study

Objectives To determine the frequency and types of stressful events experienced by urban Aboriginal and Torres Strait Islander children, and to explore the relationship between these experiences and the children’s physical health and parental concerns about their behaviour and learning ability. Design, setting and participants Cross-sectional study of Aboriginal and Torres Strait Islander children aged ≤ 14 years presenting to an urban Indigenous primary health care service in Brisbane for annual child health checks between March 2007 and March 2010. Main outcome measures Parental or carer report of stressful events ever occurring in the family that may have affected the child. Results Of 344 participating children, 175 (51%) had experienced at least one stressful event. Reported events included the death of a family member or close friend (40; 23%), parental divorce or separation (28; 16%), witness to violence or abuse (20; 11%), or incarceration of a family member (7; 4%). These children were more likely to have parents or carers concerned about their behaviour (P < 0.001) and to have a history of ear (P < 0.001) or skin (P = 0.003) infections. Conclusions Children who had experienced stressful events had poorer physical health and more parental concern about behavioural issues than those who had not. Parental disclosure in the primary health care setting of stressful events that have affected the child necessitates appropriate medical, psychological or social interventions to ameliorate both the immediate and potential lifelong negative impact. However, treating the impact of stressful events is insufficient without dealing with the broader political and societal issues that result in a clustering of stressful events in the Aboriginal and Torres Strait Islander population.

Do stakeholders or social obligations drive corporate social and environmental responsibility reporting? Managerial views from a developing country

Purpose – The purpose of this study is to explore senior managers’ perception and motivations of corporate social and environmental responsibility (CSER) reporting in the context of a developing country, Bangladesh. Design/methodology/approach – In-depth semi-structured interviews were conducted with 25 senior managers of companies listed on the Dhaka Stock Exchange. Publicly available annual reports of these companies were also analysed. Findings – The results indicate that senior managers perceive CSER reporting as a social obligation. The study finds that the managers focus mostly on child labour, human resources/rights, responsible products/services, health education, sports and community engagement activities as part of the social obligations. Interviewees identify a lack of a regulatory framework along with socio-cultural and religious factors as contributing to the low level of disclosures. These findings suggest that CSER reporting is not merely stakeholder-driven, but rather country-specific social and environmental issues play an important role in relation to CSER reporting practices. Research limitations/implications – This paper contributes to engagement-based studies by focussing on CSER reporting practices in developing countries and are useful for academics, practitioners and policymakers in understanding the reasons behind CSER reporting in developing countries. Originality/value – This paper addresses a literature “gap” in the empirical study of CSER reporting in a developing country, such as Bangladesh. This study fills a gap in the existing literature to understand managers’ motivations for CSER reporting in a developing country context. Managerial perceptions on CSER issues are largely unexplored in developing countries.

Perceptions on the causes of individual and fraudulent co-offending: Views of forensic accountants

Individual and/or co-offenders fraudulent activities can have a devastating effect on a company’s reputation and credibility. Enron, Xerox, WorldCom, HIH Insurance and One.Tel are examples where stakeholders incurred substantial financial losses as a result of fraud and led to a loss of confidence in corporate dealings by the public in general. There are numerous theoretical approaches that attempt to explain how and why fraudulent acts occur, drawing on the fields of sociology, organisational, management and economic literature, but there is limited empirical evidence published in accounting literature. This qualitative inductive study analyses perceptions and experiences of forensic accountants to gain insights into individual fraud and co-offending in order to determine whether the conceptual framework developed from literature accurately depicts the causes of fraud committed by individuals and groups in the twenty-first century. Findings from the study both support and extend the conceptual framework, demonstrating that strain and anomie can result in fraud, that deviant sub-groups recruit and coerce members by providing relief from strain, and that inadequate corporate governance mechanisms both contribute to fraud occurring, and provide the opportunity for fraudulent activities to be executed and often remain undetected. Additional factors emerging from this study (the ‘technoconomy’, addiction and IT measures) were also identified as contributors to fraud, particularly relevant to the twenty-first century, and consequently, a refined conceptual framework is presented in the discussion and conclusion to the paper.

The nature and extent of use of Twitter for financial reporting by ASX listed companies: An exploratory study

We investigate the extent and nature of use of use of twitter for financial reporting by ASX listed companies. We consider 199 financial information related tweets from 14 ASX listed companies’ Twitter accounts. A thematic analysis of these tweets shows ‘Earnings’ and ‘Operational Performance’ are the most discussed financial reporting themes. Further, a comparison across industry sectors reveals that listed companies from varies industries show different usage patterns of financial reporting on Twitter. The examination of tweet sentiments also indicates a reporting bias within these tweets, as listed companies are more willing to disclose positive financial reporting tweets.

Ethics of Justification : A Defence of Contractualism

In What We Owe to Each Other, T.M. Scanlon formulated a new version of the ethical theory called contractualism. This theory took reasons considerations that count in favour of judgment-sensitive attitudes to be the fundamental normative notion. It then used normative reasons to first account for evaluative properties. For an object to be valuable, on this view, is for it to have properties that provide reasons to have favourable attitudes towards the bearer of value. Scanlon also used reasons to account for moral wrongness. His contractualism claims that an act is morally wrong if it is forbidden by any set of moral principles that no one could reasonably reject. My thesis consists of five previously published articles which attempt to clarify Scanlon s theory and to defend it against its critics. The first article defends the idea that normative reason-relations are fundamental against Joshua Gert. Gert argues that rationality is a more basic notion than reasons and that reasons can be analysed in terms of their rationally requiring and justifying dimensions. The second article explores the relationship between value and reasons. It defends Scanlon s view according to which reasons are the more basic than value against those who think that reasons are based on the evaluative realm. The last three articles defend Scanlon s views about moral wrongness. The first one of them discusses a classic objection to contractualist theories. This objection is that principles which no one could reasonably reject are redundant in accounting for wrongness. This is because we need a prior notion of wrongness to select those principles and because such principles are not required to make actions wrong or to provide reasons against wrong actions. The fourth article explores the distinctive reasons which contractualists claim there are for avoiding the wrong actions. The last article argues against the critics of contractualism who claim that contractualism has implausible normative consequences for situations related to the treatment of different-sized groups of people.

A non-resonant mass sensor to eliminate the ``missing mass'' effect during mass measurement of biological materials

Resonant sensors and crystal oscillators for mass detection need to be excited at very high natural frequencies (MHz). Use of such systems to measure mass of biological materials affects the accuracy of mass measurement due to their viscous and/or viscoelastic properties. The measurement limitation of such sensor system is the difficulty in accounting for the ``missing mass'' of the biological specimen in question. A sensor system has been developed in this work, to be operated in the stiffness controlled region at very low frequencies as compared to its fundamental natural frequency. The resulting reduction in the sensitivity due to non-resonant mode of operation of this sensor is compensated by the high resolution of the sensor. The mass of different aged drosophila melanogaster (fruit fly) is measured. The difference in its mass measurement during resonant mode of operation is also presented. That, viscosity effects do not affect the working of this non-resonant mass sensor is clearly established by direct comparison. (C) 2014 AIP Publishing LLC.

Metodologia para avaliação ambiental de bacias hidrográficas com uso de sistemas de suporte à decisão espacial e do indicador pegada ecológica

No atual contexto ambiental é grande a demanda por informações consistentes que subsidiem o planejamento territorial, permitindo realizar avaliações ambientais e desta forma, subsidiar os setores público e privado. Essa demanda pode ser satisfeita com a integração de informações em um sistema, com propriedades e funções de processamento, possibilitando sua utilização em ambiente integrado. Assim, nesta dissertação é proposta uma metodologia para a avaliação ambiental de bacias hidrográficas que atua desde a escolha de indicadores e definição dos pesos de sua contribuição, até a execução de avaliações e espacialização de resultados em ambiente SIG. Esta metodologia é composta por duas fases distintas: avaliação da vulnerabilidade ambiental da bacia hidrográfica a partir do uso de sistemas de suporte à decisão espacial, e, avaliação da sustentabilidade da bacia através do cálculo do indicador Pegada Ecológica. Na primeira fase são adotados sistemas de suporte à decisão, bases de conhecimento, SIG e uma ferramenta que integra estes resultados permitindo a geração de avaliações, análises e/ou cenários prospectivos. Na segunda fase, a sustentabilidade da bacia é retratada a partir do cálculo da pegada ecológica que consiste na contabilização da área que uma população necessita para produzir os recursos consumidos e absorver os resíduos gerados. A comparação entre áreas mais vulneráveis e menos sustentáveis, pode nortear projetos de recuperação e conservação ambiental.

Behavior ecology of the Humboldt squid, Dosidicus gigas: insights from an animal-borne video and data logging system

Dosidicus gigas is a large pelagic cephalopod of the eastern Pacific that has recently undergone an unexpected, significant range expansion up the coast of North America. The impact that such a range expansion is expected to have on local fisheries and marine ecosystems has motivated a thorough study of this top predator, a squid whose lifestyle has been quite mysterious until recently. Unfortunately, Dosidicus spends daylight hours at depths prohibitive to making observations without significant artificial interference. Observations of this squid‟s natural behaviors have thus far been considerably limited by the bright illumination and loud noises of remotely-operated-vehicles, or else the presence of humans from boats or with SCUBA. However, recent technological innovations have allowed for observations to take place in the absence of humans, or significant human intrusion, through the use of animal-borne devices such as National Geographic‟s CRITTERCAM. Utilizing the advanced video recording and data logging technology of this device, this study seeks to characterize unknown components of Dosidicus gigas behavior at depth. Data from two successful CRITTERCAM deployments reveal an assortment of new observations concerning Dosidicus lifestyle. Tri-axial accelerometers enable a confident description of Dosidicus orientation during ascents, descents, and depth maintenance behavior - previously not possible with simple depth tags. Video documentation of intraspecific interactions between Dosidicus permits the identification of ten chromatic components, a previously undescribed basal chromatic behavior, and multiple distinct body postures. And finally, based on visualizations of spermatophore release by D. gigas and repetitive behavior patterns between squid pairs, this thesis proposes the existence of a new mating behavior in Dosidicus. This study intends to provide the first glimpse into the natural behavior of Dosidicus, establishing the groundwork for a comprehensive ethogram to be supported with data from future CRITTERCAM deployments. Cataloguing these behaviors will be useful in accounting for Dosidicus‟ current range expansion in the northeast Pacific, as well as to inform public interest in the impacts this expansion will have on local fisheries and marine ecosystems.

O processo de decisão em ambiente contábil sob a ótica da Teoria dos Prospectos

Na busca por entender de que forma profissionais de contabilidade estão analisando e repassando informações, o objetivo geral do trabalho é mostrar o processo de decisão em ambiente contábil sob a ótica da Teoria dos Prospectos, buscando demostrar que as decisões, são baseadas principalmente em julgamentos, contribuindo para consciência das imperfeições dos julgamentos e decisões. O objetivo específico é testar de que forma os efeitos Framing, e Certeza podem moldar uma tomada de decisão dentro do ambiente contábil. Sendo uma pesquisa descritiva, aplicou-se questionário estruturado e não disfarçado à profissionais da área de Contabilidade. O questionário foi dividido em dois tipos (I e II), dividindo assim o campo dos ganhos e das perdas. Procurou-se através da análise do resultado dos questionários evidenciar o impactos dos efeitos nesses profissionais. Dentre o resultado, pode-se constatar que de maneira geral as questões que envolvem certeza no campo dos ganhos são as mais procuradas entre os respondentes. É possível identificar a presença do Efeito Framing. Em relação ao gênero, é possível identificar maior impacto do Efeito Framing nos homens que nas mulheres. Os Efeitos Certeza e Pseudocerteza se fazem presentes em ambos os gêneros o que demostra certa cautela frente a tomada de decisão. Através desse estudo buscou-se auxiliar os decisores na tarefa de repensar seus atuais processos de tomada de decisão, por meio da conscientização de que são dotados de uma racionalidade limitada e que seus julgamentos são passivos de desvios.

A evidenciação das contingências tributárias pelas empresas mais representativas do IBOVESPA após a deliberação cvm n 489 de 2005

Com o crescimento do mundo corporativo, cresceram também as dificuldades de representar de forma fidedigna as diversas faces da entidade. Neste ponto também estão inclusas as obrigações, que não estão restritas a pagamentos de obrigações predeterminadas em contratos, regidas por leis ou outros instrumentos. Assim, a dinâmica empresarial cria diversas exigibilidades para a entidade, que muitas vezes não possui instrumentos apropriados para seu reconhecimento, mensuração e divulgação. Neste contexto, diversos agentes buscam criar normas que uniformizem as informações divulgadas e garantam padrões mínimos às informações divulgadas. Assim, o fez a Comissão de Valores Mobiliários ao publicar a Deliberação CVM n 489 de 2005 versando sobre provisões, passivos, contingências passivas e contingências ativas. Com isso, além de uniformizar internamente este tema, a CVM procurou alinhamento com as Normas Internacionais de Contabilidade, pois inspirou sua deliberação na norma emitida pelo IASB em 1998, a IAS 37. A alta carga tributária e a volatilidade do nosso sistema tributário contribuem para um ambiente de incertezas e litígios entre os sujeitos ativos e passivos das obrigações tributárias, levando a disputas sobre valores relevantes e que podem comprometer a saúde financeira da entidade. Por isso, a publicação da norma emitida pela CVM é ferramenta útil e indispensável a uma divulgação uniforme e transparente pelas empresas. Desta forma, este estudo busca contribuir para a solução do problema da divulgação das contingências ao rever a literatura pertinente, analisar as demonstrações contábeis das quatro empresas significativas e sugerir pontos de melhoria nas demonstrações contábeis.