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on Accounting and Auditing |
| By: | Michael, Cayley |
| Abstract: | Within the field of social capital study, concerns have been expressed that deviations from a fundamental understanding that social capital is captured from embedded resources in social networks may reduce the intellectual enterprise to a catch all fad (Lin, Cook, Burt, 1999). This paper is an argument that sometime in 2004, when broadband internet connections became more prevalent than those of less capacity, individuals became empowered as our most intense form of media. Scaled up effects of the Individual as Medium including: • increased information flow, • exertion of influence, • expansion of social credentials and reinforcement of identity and recognition, are consistent with a network theory of social capital. Corporations are exposed to new risks and opportunities due to these scaled up forms of social capital and they require new methods to manage them. Social Capital Value Add is introduced as such a new method, designed to link the pioneering intellectual enterprise of social capital to value based management and the priorities of marketers. A plausible SCVA valuation method is proposed to demonstrate how these links may be articulated in a way that is meaningful for investors and corporate managers. |
| Keywords: | "social capital"; "corporate value"; "Web 2.0"; finance; "corporate valuation"; valuation; "social media"; blog; podcast; RSS; syndication; "memetic brand"; marketing; "social networks"; brand; 2.0; Burt; “structural holes”; “weak ties”; “Nan Lin”; “social capital value add”; Cayley; broadband; “Olav Sorenson”; Ning; Facebook; MySpace; “Marc Andreesen”; “Mark Zuckerburg”; Skype; “inflection point”; “Point of inflection”; Granovetter; goodwill; “Matthew O. Jackson”; “idea habitats”; Heath; Berger; embeddedness; “embedded ties”; Uzzi; “network effects”; trust; reputation; “corporate reputation”; McLuhan; “Understanding Media”; “Marshall McLuhan”; “extensions of man”; “information flow”; “exertion of influence”; Rathergate; “information cascade”; Watts; Gladwell; Friedman; CGM; “consumer generate media”; word-of-mouth; WOM; buzz; “PR 2.0”; “public relations”; PR; CRM; “CRM 2.0”; “customer relationship management”; “social credentials”; recognition; identity; “social recognition”; “Individual as Medium”; I.A.M.; SCVA; “market positioning”; findability; “Jack Trout”; “Al Ries”; “Seth Godin”; humbug; “economic profit”; "economic value add"; “EVA”; “Interbrand”; “Microsoft Yahoo”; Digg; “value based management”; “Dell Hell”; “Kyle Minogue”; “Agent Provocateur”; Wal-Mart; “brand valuation”; “digital footprint”; “social identity”; “social engagement”; “value added earnings”; “branded earnings”; “Chris Anderson”; “The Long Tail”; “reciprocity”; CSR; “corporate social responsibility”; green; sustainability; E-Bay; Amazon; “rate & review”; comments |
| JEL: | M1 Z13 G3 |
| Date: | 2008–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8528&r=acc |
| By: | Lars P. Feld; Benno Torgler; Bin Dong |
| Abstract: | The paper explores whether a social learning model helps explain the observed conformity and compliance with social norms after the unification of Germany. We compare tax morale, (the willingness to pay taxes), between inhabitants of East and West Germany during the post-unification period, using three World Values Survey/European Values Survey waves between 1990 and 1999. German unification is of particular interest in analyzing tax morale since it is close to a quasi-natural experiment. Factors such as a common language, similar education systems and a shared cultural and political history prior to the separation after the Second World War can be controlled because they are similar. Our findings indicate that the social learning model employed in this study helps to predict the development of tax morale over time. It is clear that tax morale values converged within a mere nine years after unification, due largely to a strong change in the level of tax morale in the East. Thus, the paper contributes to the literature that attempts to explain how norms arise, how they are maintained and how they are changed. |
| Keywords: | Tax Morale; Social Learning; Conformity; Convergence Process; Deterrence; Quasi-Natural Experiment |
| JEL: | H26 H73 D78 C93 |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:cra:wpaper:2008-09&r=acc |
| By: | Gropp, Reint Eberhard; Heider, Florian |
| Abstract: | This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual bank. The results suggest that capital requirements may only be of second-order importance for banks’ capital structures and confirm the robustness of current corporate finance findings in a holdout sample of banks. |
| Keywords: | capital structure, corporate finance, leverage, bank capital, banking regulation |
| JEL: | G21 G32 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:7224&r=acc |
| By: | Clive L. Spash (CSIRO Sustainable Ecosystems, Australia) |
| Abstract: | This paper explores the contingent valuation method for environmental valuation. Issues are raised over the validity of the approach as a method of assessing the underlying preferences of individuals. An alternative interpretation is given to the method as a means of exploring underlying motivation in a rich vein of social psychological research. |
| Keywords: | stated preferences, environmental values, social psychology |
| JEL: | B4 D46 D11 D6 Q26 |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:cse:wpaper:2008-04&r=acc |
| By: | Mohammad Shahbaz, Shahbaz |
| Abstract: | The present endeavor investigated the rapport between economic growth and gross domestic saving by employing new technique for causal relationship between two variables. Utilizing time series data, in the model ARDL Bounds Testing, Johanson Cointegration Approach for long run association, not only Innovation Accounting Techniques but also Toda and Yamamato (1995) for causal friendship between economic growth and domestic saving are applied. Ng-Perron De-trended Test is used for order of integration of running actors. Results of particular study revealed that there exists a long run relationship between economic growth and domestic saving and tier association is robust at least in long span of time. Causal results through innovation accounting technique assert that there is one-way causality running from economic growth to gross domestic savings and very weak from opposite side supporting Sinha (1996) findings regarding Pakistan. Results by Toda and Yamamato’s (1995) also confirm that economic growth leads gross domestic savings in Pakistan. |
| Keywords: | Growth; Savings; Causality |
| JEL: | C32 O1 E21 |
| Date: | 2007–12–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8522&r=acc |