摘要:

Abstract:Prior to the introduction of an Australian Accounting Standard relating to the treatment of foreign currency items, we find agreement among firms on the method of translating foreign subsidiaries' assets and liabilities, but no such agreement on the method of reporting the resulting gain or loss. The reporting choice represents an intraperiod accounting decision. We show that this choice is a function of the demand for ex ante optimal risk sharing agreements between management and shareholders, although auditor identity and firm size are also found to influence the choice of reporting method. We model the policy choice as both a dichotomous and a more finely graded three‐way problem, introducing to the accounting literature an experimental technique designed to test for the existence of any mutual dependence between alternative

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00108.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:This paper is a critique of a recent Australian study of the term structure of interest rates. It argues that the tests used are likely to be biased and provides some evidence of this effect.

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00109.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:For stocks of a listed company subject to a takeover offer, a premium must be paid by the bidder to induce acceptance of the offer. For partial takeovers, this premium can be modelled as a put option. While the takeover is current, temporary support for the stock may materialize, possibly resulting in increased prices. The price of options or warrants over the target stock can be used as a means of estimating the ex‐takeover stock price, the takeover premium and any extra support that temporarily may be in the observed market price. This leads to an evaluation of the probable success of the takeove

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00110.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:This paper examines the effect of the distribution of cases on the level of consensus of auditor judgments by the use of a simulation study. The results show that the level of consensus is higher on extreme cases and that overall levels of consensus are affected by the distribution of cases included in a study. Some additional insights into previous research are made and some suggestions for the design of future studies are outlined.

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00111.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:The performance of pooled superannuation funds is analysed within a framework that recognises that risk management or ‘market timing’ is an important aspect of the fund manager's decision‐making. Two broad appraoches to the issue of ‘market timing’ are adopted: first, the performance evaluation model developed by Henriksson and Merton [1981] which allows for return differentials to arise from both security selection and market timing; and second, the recursive residuals methodology of Brown, Durbin and Evans [1975]which identifies points in chronological time when the risks of the funds underwent a change.The results indicate that only 5 out of 16 funds had significant shifts in their risk over the period of the study, all of which occurred in late 1986 to early 1987. It follows that the usual Jensen measure of performance is inappropriate for these funds since one component of their performance is due to market timing activities. The return performance of these market timing activities is significantly negative for 15 to 16 funds indicating that their timing ability is perverse. To some extent this is an artifact of the market crash of October 1987 and that all funds had a positive exposure to equities. However, due to their asset allocation policies all funds are assigned significantly positive security selection pe

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00112.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00113.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:This paper examines the impact of deep‐elaborative versus shallow‐reiterative information processing on students' academic performance. The results show that deep‐elaborative students out‐performed their shallow‐reiterative counterparts in management accounting and accounting information system

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00114.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Abstract:The purpose of this study was to identify those communication skills most needed by accountants, so providing information which could be useful for accounting educators when designing programmes. The survey showed that practising accountants perceived wide differences between the desired and demonstrated communication skills of their new graduates. Academics, too, perceived serious deficiencies in their students. The conclusion is that academics, for the sake of their students and the accounting profession, should endeavour to increase the amount of time and expert effort put into communication skills in their university programmes.

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00115.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Book reviewed in this article:Susan Hely,Women and MoneyShannon P. Pratt,Valuing a Business: The Analysis and Appraisal of Closely Held CompaniesEdna Carew and Will Slatyer,Forex: The Techniques of Foreign ExchangeRonald MacDonald,Floating Exchange Rates: Theories and EvidenceTrevor D. Wise, Claudio A. Romano and Victoria J. Wise, Eds.,Readings in Income Tax AllocationThomas Cargill and Soichi Royama,The Transition of Finance in Japan and the United States: A Comparative Perspective

ISSN:0810-5391    

DOI:10.1111/j.1467-629X.1990.tb00116.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY