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Author : Johnathon M. Cziffra
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.:/5 (11 download)
Download or read book Three Essays on Public Sector Financial Reporting Quality written by Johnathon M. Cziffra and published by . This book was released on 2017 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tobias Witter
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book Three Essays on the Consequences of Transparency written by Tobias Witter and published by . This book was released on 2023* with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Englische Version: This dissertation comprises three essays which empirically investigate consequences of transparency. The first essay investigates how transparency, demanded by the government as a customer of firms, affects firms' financial reporting. It provides evidence that, relative to firms without government customers, government suppliers have a higher quality of financial reporting. Findings indicate that government procurement requirements, which are linked to internal control over financial reporting, can positively affect the external information environment of firms. The second essay examines how managers react to a stricter transparency mandate in pension accounting, if this mandate increases the expected volatility of balance sheet items. Managers of affected firms change decisions on pension plans which mitigate volatility and in addition, affected firms exhibit less volatile accruals but more volatile discretionary real actions suggesting managers reduce volatility in balance sheets. Findings imply that a transparency mandate in pension accounting may have (unintended) consequences for managerial decision-making if the mandate reveals more economic volatility on balance sheets. The third essay studies how (data-transparently) researchers visualize their quantitative findings and how this affects the impact of academic work. It finds that, compared to articles in field-specific economics journals, articles in economics journals with a broader audience use more figures than tables and that articles visualizing (data-transparently) with figures receive more citations. An online experiment, which manipulates how a fictive study visualizes scientific results, finds that participants assess the internal validity of research as being higher and are more willing to cite research if it visualizes results data-transparently. The findings imply that (data-transparent) visualization can enhance the impact of academic work.
Author : Olumide Adeoye
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book Three Essays in Public Sector Transparency written by Olumide Adeoye and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ABSTRACT The need for public sector transparency cannot be overemphasized. Citizens cannot hold public officials accountable if they do not know what the officials intend to do (transparency in decision-making), what they are doing (transparency in the process of doing), or how their actions will affect the public (outcome transparency). However, evidence from the available literature and some observable practical effects show that such expectations are usually overstated or accompanied by unforeseen negative repercussions. Public sector transparency is clouded by this ambiguity, resulting in a never-ending debate. However, even though there exists a vast body of literature on public sector transparency, there seems to be no overarching synopsis that synthesizes the ambiguities and complexities affecting transparency at all levels of government in the public sector. Thus, the question becomes, why does public sector transparency frequently manifest as a complex idea in both theoretical and practical terms in the public sector? To better understand public sector transparency, this dissertation examines seven questions through three different but related lenses: a systematic review of why certain factors associated with public sector transparency have both positive and detrimental effects; an empirical reexamination of one such factor (democracy) to better understand its directional relationship with public sector transparency; and a systematic review of why public sector inconsistencies are so prevalent and how to navigate them moving forward.
Author : Margarita Katsimi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (61 download)
Download or read book Three Essays on the Size of the Public Sector, Public Debt and Employment written by Margarita Katsimi and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ting Luo
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.:/5 (89 download)
Download or read book Essays on the Determinants and Effects of Financial Reporting Quality written by Ting Luo and published by . This book was released on 2007 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Denny Kutter
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book Three Essays on Misconduct and Reporting Outcomes written by Denny Kutter and published by . This book was released on 2022* with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This cumulative doctoral thesis consists of three empirical studies that examine the role of top-level executives in shaping adverse financial reporting outcomes and other forms of corporate misconduct. The first study examines CEO effects on a wide range of offenses. Using data from enforcement actions by more than 50 U.S. federal agencies, regression re-sults show CEO effects on the likelihood, frequency, and severity of corporate misconduct. The findings hold for financial, labor-related, and environmental offenses; however, CEO effects are more pronounced for non-financial misconduct. Further results show a positive relation between CEO ability and non-financial misconduct, but no relation with financial misconduct, suggesting that higher CEO ability can have adverse consequences for employee welfare and society and public health. The second study focuses on CEO and CFO effects on financial misreporting. Using data on restatements and public enforcement actions, regression results show that the incremental effect of CFOs is ...
Author : Jinhai Yu
Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.:/5 (14 download)
Download or read book Three Essays on Public Finance and Public Policy written by Jinhai Yu and published by . This book was released on 2018 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yuequan Wang
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.:/5 (815 download)
Download or read book Essays on Financial Reporting Quality written by Yuequan Wang and published by . This book was released on 2012 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because of the importance of financial reporting quality in capital market, I explore the determinants to financial reporting quality in my second essay, "Market power and accrual management". I examine whether a firm's competition status in product markets affects its financial reporting quality, measured as discretionary accrual. I argue that because firms with greater market power have a greater ability to set prices for their products, they have comparatively fewer incentives to manipulate earnings through accrual management. I use the Lerner index to measure product market power and asset-deflated absolute discretionary accruals to proxy the magnitude of accrual management. Using a large sample of firm-year observations from 1997 to 2007, I find that, as hypothesized, firms with greater market power tend to have lower levels of accrual management. The final essay, "Product market competition and audit fees", goes one-step further than the second. As noted in the second essay, product market competition affects a firm's financial reporting quality. However, financial reporting quality may not be the only factor auditors take into account when they decide what fees to charge a client. The last essay, therefore, empirically explores the inter- and intra- industry effect of product market competition on audit fees. Prior literature posits two contradictory predictions on the relation between product market competition and audit fees. On the one hand, firms in a competitive market are expected to face higher liquidity risk, distress risk, and liquidation risk, thus increasing auditors' assessments of a client's business risk. So, audit fees are expected to increase with industry competitiveness. On the other hand, it is often argued in prior literature that product market competition decreases information asymmetry and mitigates agency problems between shareholders and managers and increases the accuracy of financial reporting, thus decreasing auditors' assessments of a client's audit risk resulting in necessary audits. So auditors tend to charge lower fees on firms in a more competitive industry. The study, then, empirically tests the relation between product market competition and audit fees and finds that auditors charge higher fees on firms in a more competitive industry. It also finds that auditors charge lower fees on firms with greater market power within the same industry.
Author : Yangxin Yu
Publisher :
ISBN 13 :
Total Pages : 73 pages
Book Rating : 4.:/5 (747 download)
Download or read book Two Essays on Financial Reporting Quality written by Yangxin Yu and published by . This book was released on 2011 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Babacar Sarr
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (911 download)
Download or read book Assessing Public Sector Performance in Developing Countries written by Babacar Sarr and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The public sector plays a major role in society. In most developing countries, public expenditure represents a significant part of gross domestic product (GDP) and public sector entities are substantial employers and major capital market participants. The public sector determines, usually through a political process, the outcomes it wants to achieve and the different types of intervention. How the public sector achieves results matters as its size and economic significance make it a major contributor to growth and social welfare. Its achievements emerge in the quality and nature of its financial management, the infrastructure it finances and the quality of its social and economic regulation. How well those public sector activities deliver their expected outcomes is a key development variable; yet explicit evidence base for understanding what works and why in the public sector remains strikingly limited compared with other policy areas. There are two main reasons for this situation: the performance in these areas is difficult to analyze because the outputs of many such services are hard to measure or even to define, and the lack of quantitative and qualitative longitudinal data precludes rigorous econometric analysis.Therefore the objective of this thesis is to document this literature and to propose different ways of measuring public sector performance in developing countries. The dissertation is divided into two Parts: the first Part - Chapters 1 and 2 - presents two essays on “upstream” public sector performance while the second Part - Chapters 3 and 4 - presents two essays on “downstream” public sector performance. The Chapter 1 makes use of the Blinder-Oaxaca Decomposition to examine how the quality of budget institutions affects fiscal performance - Primary Balance and Public Debt - in sub-Saharan Africa. In Chapter 2 we use a Synthetic Control Approach to investigate the impact of Semi-Autonomous Revenue Authorities (SARAs) on revenue mobilization in twenty developing countries. The chapter 3 provides a first systematic Benchmarking of Africa's infrastructure performance on four major sectors: electricity, water and sanitation, information and communication technologies, and transportation. Finally we evaluate the effects of the establishment of an Independent Regulatory Authority (IRA) on electricity sector performance in developing countries in Chapter 4.
Author : Ulf Mohrmann
Publisher : Logos Verlag Berlin GmbH
ISBN 13 : 3832541853
Total Pages : 300 pages
Book Rating : 4.8/5 (325 download)
Download or read book Essays on the Quality of Audited Financial Statements written by Ulf Mohrmann and published by Logos Verlag Berlin GmbH. This book was released on 2016-02-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of four essays on the quality of audited financial statements. The first analysis investigates the association between several regulations of the audit market and earnings characteristics. The second essay differentiates between different drivers of audit quality after an auditor change by comparing the effects of voluntary and mandatory auditor changes. The third study analyses the different strategies of Big4 and non-Big4 auditors in dealing with Level 3 fair values. The fourth part examines banks' valuation behavior concerning Level 3 fair values.
Author : Fuad Rakhman
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Determinants of Financial Reporting Quality in the Public Sector written by Fuad Rakhman and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Most studies addressing the issue of financial reporting quality focus on corporations. This study investigates the determinants of financial reporting quality in the public sector. We use the type of audit opinion as a proxy for reporting quality, with an unqualified opinion representing the best reporting quality while a disclaimer of opinion represents the worst quality. Using manually collected data from 3,018 financial reports of local governments in Indonesia from 2008 to 2014, we find that a high proportion of capital expenditures in the total budget is associated with low financial reporting quality. Further, we find that larger and wealthier local governments are associated with higher financial reporting quality. Lastly, we find that local governments under more experienced mayors have higher reporting quality. Our results are robust to different measures of financial reporting quality. This study contributes to the reporting quality literature by providing empirical evidence on the determinants of financial reporting quality in the public sector, which has been relatively underexplored. We conclude that certain characteristics of local governments and of mayors are associated with the types of audit opinion and that financial incentives accelerate the improvement of reporting quality.
Author : Martin Shubik
Publisher : MIT Press
ISBN 13 : 9780262693110
Total Pages : 472 pages
Book Rating : 4.6/5 (931 download)
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author :
Publisher :
ISBN 13 : 9789172463356
Total Pages : 194 pages
Book Rating : 4.4/5 (633 download)
Download or read book Disclosures and Judgment in Financial Reporting written by and published by . This book was released on 2015 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julia Y. Davidyan
Publisher :
ISBN 13 :
Total Pages : 186 pages
Book Rating : 4.:/5 (16 download)
Download or read book Essays on Determinants and Consequences of Pension Funded Status in Local Units of Government written by Julia Y. Davidyan and published by . This book was released on 2017 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The defined benefit nature of many public employee pensions places a significant risk on the government sector employers. The management of this risk has been called into question with $1.25 trillion in estimated underfunding of state pensions (Moody's, 2016), highlighting the importance of this topic on both academic and practitioner research agendas. Recognizing the magnitude of the public pension problem, the Government Accounting Standards Board (GASB) issued new standards for pension financial reporting that require recognition of the full net pension liabilities on the face of the financial statements effective with fiscal years beginning after June 15, 2014. Based on an extensive review of the literature on determinants and consequences of pension funded status (Essay 1), this dissertation examined a determinant and a consequence of pension funding at local units of government participating in an agent multi-employer defined benefit pension plan. Specifically, this dissertation focused on the association of pension funded status with: (a) employer accounting basis choice as a measure of quality in financial reporting (Essay 2) and (b) decisions made by terminating public-sector employees to take lump sum withdrawals (Essay 3). Prior studies have generally utilized aggregate data at the state systems level and have primarily focused on the magnitude and determinants of pension funding. This dissertation is differentiated by its larger sample size than most prior pension studies and the use of data at the local employer (i.e. municipality or agency) level with such participants in a single multi employer agent plan (having common investment and board governances across participants). The main findings from the pension funding determinant paper, Essay 2, suggest that conformity with Generally Accepted Accounting Principles (GAAP) is positively associated with better pension funding in the subset of municipalities that are healthy funded (funding ratios of 80% to 100%). The pension funding consequence paper, Essay 3, finds an inverse association between the employer's pension funded ratio and the probability of its separating employees to take a lump sum withdrawal of their pension contributions. Both essays further provide for implications and considerations for policy-setters and regulators as they relate to pension funding in this setting.
Author : C.F. Sirmans
Publisher : Springer Science & Business Media
ISBN 13 : 1441989536
Total Pages : 339 pages
Book Rating : 4.4/5 (419 download)
Download or read book Essays in Honor of William N. Kinnard, Jr. written by C.F. Sirmans and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first section of the book contains seven original essays, arranged in order to coincide with Bill's (chronological) professional career. These essays cover a wide variety of real estate topics, including valuation theory, definition of market value, market analysis, the appraisal process, role of the appraiser as an expert witness, valuation under environmental contamination, and international real estate issues. The second section of the book reprints eleven of Bill's most influential papers, selected with the help of forty of his colleagues. These articles, written by Bill and various co-authors, represent only a portion of his contributions to real estate theory and practice. They are "classics" in real estate education. The final section contains personal reflections by colleagues, family and friends of Bill. One of Bill's most influential publications is his classic text, "Income Property Valuation", and is frequently cited in the testimonials. These testimonials provide clear evidence that Bill was an excellent teacher and real estate professional. He truly cared about his students and colleagues and worked hard to move the real estate profession forward.
Author : Christine Naaman
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Three Essays on Credit Unions written by Christine Naaman and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is comprised of three essays on issues related to the financial reporting practices of credit unions in the United States. The first essay relies on an agency theory perspective to examine the extent of earnings management in U.S. credit unions through loan loss provisions (LLP). The context of member-owned credit unions provides a different set of financial reporting incentives than the one typically found in shareholder-owned banks, thus providing an opportunity to extend earnings management research. The sample comprises U.S. credit unions above $50 million in total assets, between 2003 and 2016. Results show that credit union managers engage in income smoothing through the discretionary use of LLP to avoid earnings declines. Results also show that larger and better-capitalized credit unions engage in more earnings management, as do credit unions with a federal charter. Moreover, credit unions are driven by the incentive of merging to engage in earnings management. The findings are economically significant, and thus, relevant to policymakers contemplating new regulations since these managerial activities may place the cooperative principle at risk. The second essay examines how competition affects risk-taking of a matched sample (by size and county) of banks and credit unions, and whether it affects differently credit unions and banks. Several measures of risk-taking are used in the study. The period of the study is from 2010 till 2017. First, univariate analyses are conducted to compare the risk-taking of the two types of institutions. We find that the means of the risk-taking measures do not differ significantly between banks and credit unions. Second, examining the difference in the risk-taking of credit unions and banks in a multivariate analysis, we find that banks' managers engage in riskier activities. Third, we examine the effect of competition on the risk-taking. We find that increased competition induces managers of credit unions and banks to take more risk; this finding supports the competition-fragility hypothesis. We also find that credit unions' managers take more risk than banks' managers in the presence of competition. Finally, by including the quadratic term of competition, we find that there is a non-linear relationship between competition and risk-taking. This study has public policy implications: the American Banking Association argues that public policy toward credit unions and banks should be similar due to their similarities; whereas, credit unions express their difference to protect their privilege of tax exemption. The third essay attempts to identify certain traits of the target credit unions in comparison to acquiring and non-merging credit unions. The analysis is performed both qualitatively and quantitatively. First, the paper presents a clinical analysis of three cases of mergers of credit unions. Each case is analyzed from the perspective of agency theory to determine the reason for merger. The three cases illustrate how the executives and directors are seeking their own utilities at the expense of the members. Second, we aim to identify certain characteristics of target credit unions empirically by comparing a sample of acquired credit unions to a matched sample of non-merging credit unions and the acquiring credit unions. The sample comprises U.S. credit unions above $10 million in total assets that merged to expand their services between 2011 and 2017. We identified a list of ratios that are used by the NCUA for credit union assessment, a univariate analysis of variance tests for differences between the means of these ratios among the three groups (targets, acquiring, and non-merging credit unions); the means of the ratios of the three groups are statistically different. Then, factor analysis is performed to classify the major factors that explain the majority of variance. Growth, capital adequacy, asset quality, and earnings are the major ratios that differentiate between the target, acquiring, and non-merging credit unions. The paper has public policy implications; it provides the NCUA with the necessary information for the amendment of the voluntary mergers proposed rule on May 25, 2017. Keywords: Earnings management; Credit unions; Loan loss provision; Agency theory; Banks; Risk-taking; Competition; Lerner Index; Mergers; Target; Voluntary merger; Acquisition; Agency hypothesis.
