|
on Accounting and Auditing |
|
Issue of 2016‒10‒16
four papers chosen by |
| By: | Miyazaki, Takeshi |
| Abstract: | The present study examines the incentiv¬e effects of fiscal equalization transfers on local corporate tax rates from theoretical and empirical perspectives. The study focuses on additional corporate tax on capital, which is exempt from calculations of equalization grants. A theoretical investigation reveals that a rise in equalization rate increases additional capital tax rates. The theoretical prediction is empirically examined using panel data of Japanese municipalities for 1990–2000. It is found that a higher equalization rate in fiscal equalizing transfers gives municipalities an incentive to raise corporate tax rates exempt from the transfer scheme. |
| Keywords: | Intergovernmental fiscal transfers; regression discontinuity design; tax competition; tax effort |
| JEL: | H7 H71 H77 |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:74337&r=acc |
| By: | Arus Kongrungchok (Suratthani Rajabhat University) |
| Abstract: | The primary objective of this study was to investigate factors that have left to personal financial weakness of Thai rubber farmers who have currently had defective financial position. Questionnaires (Cronbach's alpha = 0.914) were used for collecting data from 391 Thai rubber farmers in Suratthani province while 17 volunteered interviewees were interviewed through semi-structured interviews. Statistical techniques were employed to analyze the questionnaires while interview transcripts were analyzed through content analysis technique by using a phenomenological research approach. As a result of this study discovered that Thai rubber farmers have not concentrated on budget allocation of incomes to expenses in a same period while a private accounting has not been prepared to recognize cash inflow, cash outflow and cash balance, these situations have always left to ineffective personal financial planning in terms of a lack of savings for spending on emergency incidents; revenues’ cessation from discontinuous rubber harvests; a lack of clear life target in the future; a lack of systemic investment; and an inappropriate planning of debt management. Furthermore, the results revealed that the budget allocation of revenues to expenditures, the preparation of private accounting, the savings for spending on emergency incidents, the systemic investment, the clarity of life target planning in the future, the revenues’ cessation from discontinuous rubber harvests, and the systemically debt management have positively had the direct relationships to and influenced the effectiveness of personal financial planning of Thai rubber farmers at significant level of 0.01. The results of this study should be sent to Thai government and related parties with solving the fundamental poverty of Thai farmers especially Thai rubber farmers and could be then applied to other farmers if it has been possible. By the way, the knowledge and training (the workshop) should basically be given to those farmers by Thai government in terms of the basic personal financial knowledge as well. |
| Keywords: | Effectiveness; Personal Finance; Financial Planning; Thai Rubber Farmers. |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:4106729&r=acc |
| By: | Eufinger, Christian; Gill, Andrej |
| Abstract: | This paper proposes a new regulatory approach that implements capital requirements contingent on executive incentive schemes. We argue that excessive risk-taking in the financial sector originates from the shareholder moral hazard created by government guarantees rather than from corporate governance failures within banks. The idea behind the proposed regulatory approach is thus that the more the compensation structure decouples the interests of bank managers from those of shareholders by curbing risk-taking incentives, the higher the leverage the bank is permitted to take on. Consequently, the risk-shifting incentives caused by government guarantees and the risk-mitigating incentives created by the compensation structure offset each other such that the manager chooses the socially efficient investment policy. |
| Keywords: | Basel III,capital regulation,compensation,leverage,risk |
| JEL: | G21 G28 G30 G32 G38 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:9r&r=acc |
| By: | MUSLIM ABDUL DJALIL (UNIVERSITY OF SYIAH KUALA); MIRZA TABRANI (UNIVERSITY OF SYIAH KUALA); Jalaluddin (Faculty of Economics and Business, Univ of Syiah Kuala) |
| Abstract: | The objectives of this research are to measure the partial and simultaneous influence of : the Earning Per Share (EPS) on Equity Valuation, Book Value on Equity Valuation, and Systematic Risk on Equity Valuation. With a quantitative model employed, the data collected in this research are hence based on secondary sources of which are derived from audited financial statements published by the capital market reference centre at the Indonesia Stock Exchange. The research used random sampling method in selecting the researched sample. From the population of all manufacturing companies of 2011-2014 that consistently listed in Indonesian Stock Exchange, it was selected 96 mixed manufacturing companies as the research sample. This research used multiple linear regression equation to test the researched hypotheses and employed SPSS statistical software for data processing. The outcome of research indicated that Earning Per Share (EPS) partially has a significant positive influence on Equity Valuation; Book Value partially has a significant negative influence on Equity Valuation; Systematic Risk partially does not have a significant influence on the Equity Valuation; and Earning Per Share (EPS), Book Value, and Systematic Risk have a simultaneous influence on Equity Valuation. The using combined three variables of EPS, Book Value, and Systematic Risk influencing on Equity Valuation in the context of a combined type of manufacturing companies as a theoretical research framework with data sample from a listed manufacturing companies’ audited financial statements as far as the researcher’s concerned is the novelty of this research. The major limitations of the research that it does not reflect deeply the performance of the industry and unable to capture the individual managerial perceptions involved in the industry |
| Keywords: | Earning Per Share (EPS), Book Value, Systematic Risk, and Equity Valuation, Manufacturing Company |
| JEL: | G10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:4106521&r=acc |