This textbook is the ideal guide for business and management students who need to understand accounting and finance information and develop analytical skills in order to make better-informed decisions.Accounting and Finance for Managers rebukes the myth that in order to excel in accounting and
finance you need to be great at mathematics. Split into two broad sections which focus on financial accounting and management accounting and finance, this textbook uses clear, accessible language that will appeal to students from a variety of academic backgrounds. Taking a uniquely practical
approach that focuses on the financial aspects of business decisions, the textbook covers all the core topics of accounting and finance, including basic bookkeeping, financial analysis, business planning, cash-flow analysis and investment decisions.Now in its third edition, Accounting and Finance
for Managers contains updates on new accounting standards and regulations, as well as featuring up-to-date real-world examples of real options, value chain analysis and competitive advantage analysis. This textbook features 'traditional' accounting practices in detail, but also covers topics with a
strategic focus to ensure students learn to think in broader strategic terms. Written for an international audience using International Financial Reporting Standards (IFRS) terminology with supporting online resources including additional exercise questions, curated further reading and lecture
slides for each chapter.
Advances in Accounting Education(AAE) is a high-quality publication of both empirical and non-empirical research that investigates vital matters within teaching, learning, and curriculum development. By focusing on these topics, it works to support the improvement of accounting programs at colleges
and universities, as well as foster innovative discussion and significant contributions to faculty development.
This 24th volume features 11 peer-reviewed papers surrounding five key themes: (1) research on student attitudes and behavior, (2) cases and pedagogical approaches in tax, (3) financial reporting and introductory accounting, (4) research about the CPA exam, and (5) international perspectives. It
considers a variety of topics within these themes, from student study choices and changes in ethical attitudes over time to policy implications for the accounting profession. It even includes an instructional case for use in intermediate accounting courses and a comprehensive pedagogical approach
(with a case) for teaching a complex topic in taxation. With international and nuanced perspectives from expert voices in the field, AAE is essential reading for students and accounting educators. Some practitioners and regulators in the accounting profession may also find useful policy-related
nuggets in Volume 24.
This volume, in the series "Advances in Financial Economics", discusses such topics as the global variation in financial ratios, trading costs of target firms around corporate takeovers, and economic activity measures in nonlinear asset pricing.
This volume contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives. Jiang, Kim and Zhang argue that in certain cases an ex post increase in CEO pay can prevent the ex ante problem of managerial
underinvestment and thereby help to reduce the agency problems characteristic of modern firms. Akyol and Cohen focus on firms' use of executive search firms versus allowing internal members to nominate new directors to serve on the board of directors. Choi, Ferris, Jayaraman and Sabherwal examine
361 CEO terminations occurring among the Fortune Global 500 firms during the years 2000 to 2006. Cashman, Gillan and Whitby investigate the labor market for corporate directors to better understand which director attributes are relevant for board selection. Baulkaran, Amoako-Adu and Smith analyze
the link between the valuation discount of dual class companies and the channels through which private benefits can be extracted. Aggarwal examines ETFs and notes that the additional risks, complexity, and reduced transparency of these funds have attracted heightened attention by regulators.
Advances in Financial Economics publishes peer reviewed quality manuscripts on any aspects of financial economics including corporate finance, financial institutions and markets and microeconomics.
In this issue, there are thirteen high-quality and interesting papers to deal with the issue of Financial Analysis, Planning and Forecasting. Out of these thirteen papers, we can classify them into two major groups i.e. Risk Analysis and Financial Evaluation Models. The Risk Analysis group includes
five papers as follows: time-varying accounting betas and risk estimation for thinly traded stocks: Finnish evidence; additional evidence on managerial ownership and risk taking behavior in banking industry; a DSS approach to managing the risks of online trading; estimating exchange rate exposure of
U.S. MNC's operating in South America; analyzing the risks inherent in the Proctor and Gamble-Bankers trust levered swap contract. The financial evaluation models group consists of seven papers as follows: contextual accrual and cash flow based valuation models: impact of multinationality and
corporate reputation; predicting changes in cash flow; valuing repurchasing corporations with the discounted dividend model: theory and application; the role of taxes in the composition of the firm's retirement plans; the valuation of the multinationality of U.S. multinational firms;
cross-classification models: comparative empirical findings; and an extension of break-even analysis for financial planning. In addition to these two groups, there is a paper using survey approach to banking operations entitled 'Organizational Features, Operating Procedures, and Overdue Loans':
empirical findings from a Commercial Bank's opinion survey in Taiwan. In summary, this issue is useful for readers who are interested in risk analysis and alternative financial evaluation models.
There are ten papers in this volume. They are: An Empirical Examination of The Intraday Return Volatility Process - this paper presents a comprehensive analysis of the distributional and time-series properties of intraday returns. The purpose is to determine whether a GARCH model that allows for
time variance in a process can adequately represent intraday return volatility. The Valuation of New Product Introduction Under Uncertain Competition: A Real Option Approach - this paper investigates how a stochastic competition process in a two-factor real option model could affect the value of
future product development opportunities. Our results also indicate that product development opportunities are more valuable: in a more volatile environment; when the window of opportunities is longer; and when the competitive intensity is lower. Earnings, Dividends, and Equity Value of
Multinational Firms - this paper develops and tests a valuation model, whose main prediction is that equity value is a function of earnings, dividends and book value, where the function depends on the relative level of multinationality. Benford's Law and Its Application in Financial Fraud Detection
- this paper has discussed Benford's law, which explains that the leading (first or leftmost) digit in a series of natural numbers is not evenly distributed among the digits 1 to 9. The main purpose of this study actually seeks to explore a new methodological approach to datamining that can be of
some real practical value; especially to the auditors and forensic accountants in detecting financial frauds. Estimation of the Degree of Integration in the U.S. Maturity Rates Using Semiparametric Techniques - this paper examines the order of integration of several U.S. Treasury maturity rates by
means of using semiparametric techniques. The results show that the order of integration of the one and three year maturity rates is strictly above. It oscillates around one in case of the five-year rate, and the values are strictly below 1 (and thus showing mean reversion), for the seven and
ten-year rates. On Country-Fund Price Behavior-An Empirical Analysis of Cointegrating Factors - this paper provides empirical evidence on the price behavior of closed-end country funds. Using the data from 47 closed-end single-country funds, we examine three Cointegrating factors to describe the
long-run behavior of country-fund share prices. They are: the Net Asset Value (NAV), foreign stock-market indexes, and the U.S. stock market index. Strategic Capital Budgeting: the Abandonment Option with Political Risk - this paper investigates the strategic role of political risk and timing in the
capital budgeting process that includes both investment and disinvestments. The model developed in the paper highlights the role of the probability of an investment ending political event in the capital budgeting process. Time Series Model Complexity and Firm Valuation: the Case of AR1 Firms Versus
Non-AR1 Firms - this study examines the effect of the complexity of quarterly earnings generating time series models on firm valuation. The examination is limited to the comparison between AR1 firms and non-AR1 firms, and the evaluations are based on the levels approach. Results consistently show
that the association between quarterly stock prices and quarterly earnings is higher for AR1 firms than that for non-AR1 firms. The effect of firm size is also investigated. Debt Covenant Violation and the Value Relevance of Accounting Information - this study documents that investors exercise their
liquidation option on firms facing less severe financial distress than bankruptcy filings. This study finds that the valuation shift from earnings to book value of equity in the violation manifestation period is reversed in the post-violation recovery period. This suggests that the valuation
distortion in the pre-violation period is temporary rather than permanent. What's Next: Merger in the Lebanese Banking Sector - this paper studies banking preference and behavior of Lebanese people. If small banks are to survive, the findings of the study reaffirm the importance of vertically
merging banks in Lebanon. The reliance on digital technology is increasing every day. To deepen the problem, small Lebanese banks are finding themselves in a digital environment that affects their ability to compete in a fierce environment.
This volume is a publication of quality applied
research in management accounting. The volumes
purpose is to publish thought-provoking articles that advance knowledge in the
management accounting discipline and are of interest to both academics and
practitioners. The book seeks
thoughtful, well-developed articles on a variety of current topics in
management accounting, broadly defined. All research methods including survey
research, field tests, corporate case studies, experiments, meta-analyses, and
modeling are welcome. Some speculative
articles, research notes, critiques, and survey pieces will be included where
appropriate. Articles may range from purely empirical to purely theoretical,
from practice-based applications to speculation on the development of new
techniques and frameworks. Empirical
articles must present sound research designs and well-explained execution. Theoretical arguments must present reasonable
assumptions and logical development of ideas.
All articles should include well-defined problems, concise
presentations, and succinct conclusions that follow logically from the data.
This volume intends to provide authors with timely reviews clearly indicating
the acceptance status of the manuscript.
The results of initial reviews normally will be reported to authors
within eight weeks from the date the manuscript is received. The author will be expected to work with the
Editor, who will act as a liaison between the author and the reviewers to
resolve areas of concern. To ensure publication,
it is the author’s responsibility to make necessary revisions in a timely and
satisfactory manner.
This is the sixth volume in a series which examines advances in the quantitative analysis of finance and accounting. It discusses: the pitfall of using intuitive judgement in audit scheduling; the underpricing integration of public offerings; and, the use of accruals in income smoothing.