Does accounting choice influence US investment in non-US companies? Evidence from US institutional investment in Australian companies

Previous research asserts that companies that choose accounting methods more familiar to investors reduce information asymmetry and increase credibility of their financial statements to those investors, thereby attracting higher levels of foreign investment. This study examines the variation in accounting policies associated with institutional investment in Australian equity. The results suggest that large US institutional holdings in Australian companies are associated with American Depositary Receipt listing and, incrementally, choice of accounting methods that conform to US Generally Accepted Accounting Principles (GAAP). Although making accounting choices in compliance with US GAAP is significantly associated with higher levels of institutional ownership in a statistical sense, examination of the specific differences in accounting choices suggests that the differences in informational content are relatively minor.

Jane Campion

Jane Campion, one of the most celebrated auters of modern cinema, was the first female director to be awarded the prestigious Palme d'Or. In this first detailed account of Jane Campion's career, Verhoeven examines how contemporary film directors 'fashion' themselves as auters- through their personal interactions with the media, in their choice of projects, emphasis on particular filmmaking techniques and finally in the promotion of their films. Through analysis of key scenes from Campion's films such as The Piano, In the Cut, Sweetie and Holy Smoke, Verhoeven introduces the key debates surrounding this controversial and often experimental director. Features a career overview, a filmography and an extended interview with Campion on her approach to creativity.

Female choice for males with greater fertilization success in the Swedish Moor Frog, Rana arvalis

Background: Studies of mate choice in anuran amphibians have shown female preference for a wide range of male traits despite females gaining no direct resources from males (i.e. non-resource based mating system). Nevertheless, theoretical and empirical studies have shown that females may still gain indirect genetic benefits from choosing males of higher genetic quality and thereby increase their reproductive success.
Methodology/Principal Findings: We investigated two components of sexual selection in the Moor frog (Rana arvalis), precopulatory female choice between two males of different size (‘large’ vs. ‘small’), and their fertilization success in sperm competition and in isolation. Females’ showed no significant preference for male size (13 small and six large male preferences) but associated preferentially with the male that subsequently was the most successful at fertilizing her eggs in isolation. Siring success of males in competitive fertilizations was unrelated to genetic similarity with the female and we detected no effect of sperm viability on fertilization success. There was, however, a strong positive association between a male’s innate fertilization ability with a female and his siring success in sperm competition. We also detected a strong negative effect of a male’s thumb length on his competitive siring success.
Conclusions/Significance: Our results show that females show no preference for male size but are still able to choose males which have greater fertilization success. Genetic similarity and differences in the proportion of viable sperm within a males ejaculate do not appear to affect siring success. These results could be explained through pre- and/or postcopulatory choice for genetic benefits and suggest that females are able to perceive the genetic quality of males, possibly basing their choice on multiple phenotypic male traits.