|
on Accounting and Auditing |
| By: | Shengle Lin (Wenzhou University and San Francisco State University); Glenn Pfeiffer (Chapman University); David Porter (Chapman University) |
| Abstract: | We examine the effect on asset mispricing of different accounting methods in an experimental asset market characterized by bubbles and crashes. In particular, we study three alternative asset value reporting treatments: (1) Fair Value (also known as Mark-to-Market – M2M), (2) Historical Cost (HC) and (3) Marked to Fundamental Value (M2F). In addition, each of these treatments is replicated in two different financial leverage conditions. In the first condition (No Loan) traders must purchase assets from their available cash balances without the option of borrowing. In the second condition, (Loan), traders are given the option of taking out loans based on their balance sheet to finance asset purchases. In the No Loan condition, we find that reporting accounting values alone to subjects in a balance sheet format does not have a significant effect on mispricing for any of our alternative accounting method treatments. In the Loan conditions, however, the M2F and M2M accounting methods exacerbate asset mispricing, yet the two differ in leverage dynamics. M2F markets are completely immune to defaults, while M2M markets experience the most frequent as well as most severe defaults. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:chu:wpaper:14-03&r=acc |
| By: | Ignat, Gabriela |
| Abstract: | In tough competition of world, which only performance resisting the changes, the vital in taking the best decision is to ensure the balance between thought and action. If the methods used, analyzing and synthesizing information are good especially when financial results are element key for an entrepreneurial to focuses theirs attention and orient their efforts. In Romania, the performance and the success have become the motivation for any agro food companies what trying to enroll in the demands of the market economy. European competition requires primarily financial and economic dimensions of activity and food companies and for that an essential role returns for economic performance. This analysis allows making judgments and assessing the results of their correlation with financial and solvency structure rationalization study based on economic data and company's accounting. Depending on the methods used for obtaining, analyzing and synthesizing information particularly, the manager of agro food companies will know how to start and how to learn from the results. This paper presents the concepts, rules, conventions and practices of the agro food companies Iasi, Romania |
| Keywords: | performance, accounting policies, agro food companies, financial statements, Agribusiness, |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa140:163347&r=acc |
| By: | Stephan Schulmeister (WIFO) |
| Abstract: | The paper summarises at first the main arguments in favour and against a FTT and provides empirical evidence about the movements of the most important asset prices. It is shown that their long swings result from the accumulation of extremely short-term price runs over time. Therefore a (very) small FTT – between 0.1 and 0.01 percent – would mitigate price volatility not only over the short run but also over the long run. The subsequent section discusses the most important implementation issues if only a group of 11 EU member countries introduces this tax (without the UK). If London subsidiaries of banks established in one of the FTT countries are treated as part of their parent company, overall FTT revenues of the 11 FTT countries are estimated at € 65.8 billion, if London subsidiaries are treated as British financial institutions, tax revenues would amount to only € 28.3 billion. |
| Date: | 2014–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2014:i:461&r=acc |
| By: | Alm, James; Hodge, Timothy R.; Sands, Gary; Skidmore, Mark |
| Abstract: | In this paper we develop a theoretical model of the individual decision to become delinquent on one’s property tax payments. We then apply the model to the City of Detroit, Michigan, USA, where the city is in the midst of bankruptcy proceedings, and a rate of property tax delinquency of 48 percent, resulting in uncollected tax revenues of about 20 percent. We use detailed parcellevel data for Detroit to evaluate the factors that affect both the probability that a property owner is tax delinquent and, conditional upon delinquency, the magnitude of the delinquency. Our estimates show that properties that have lower value, longer police response times, are nonhomestead (non-owner occupied residential properties), have a higher statutory tax rate, have a higher assessed value relative to sales price, are owned by a financial institution or by a Detroit resident, are delinquent on water bills, and for which the probability of enforcement is low are more likely to be tax delinquent These findings can be used to inform policies targeted at improving tax compliance within the City. |
| Keywords: | Property tax, Delinquency, Tax compliance, |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:vuw:vuwcpf:3149&r=acc |
| By: | Michal Jurek (Department of Banking, Poznan University of Economics) |
| Abstract: | The purpose of this report is to analyse the structure of ownership in the financial sector in the selected old (France, Germany, Greece, Italy, Sweden, the United Kingdom) and new (the Czech Republic, Hungary, Poland) EU Member States. This subject is particularly important to the proper understanding of the scale and scope of the process of financialisation in the EU countries. General objective of the report is the investigation and evaluation of the evolution of the structure of ownership in the financial sector across the EU and its consequences with the special consideration of relations between this process and withdrawal of the State from the financial sector. In order to accomplish this target, extensive research is undertaken. It encompasses the analysis of the types of financial institutions functioning in selected countries. Areas of competition, cooperation and interdependence between different types of financial institutions are identified, as well as similarities and differences in the present composition and structure of the financial sector in particular EU countries and factors behind inter-country differences. Finally, comparative analysis of evolution of structure of financial sector and its driving forces in particular countries and group of countries is presented. |
| Keywords: | financial institutions, financial sector, banking and finance, ownership structure, market concentration, mergers and acquisitions, privatization |
| JEL: | E44 E50 G21 G22 G32 G34 N24 |
| Date: | 2013–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:fes:wpaper:wpaper16&r=acc |