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Journal articles on the topic 'Regime of Accounting'

Author: Grafiati

Published: 4 June 2021

Last updated: 8 February 2022

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1

Hartman, Brian M., and Matthew J. Heaton. "Accounting for regime and parameter uncertainty in regime-switching models." Insurance: Mathematics and Economics 49, no. 3 (2011): 429–37. http://dx.doi.org/10.1016/j.insmatheco.2011.07.003.

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BLECK, ALEXANDER, and XUEWEN LIU. "Market Transparency and the Accounting Regime." Journal of Accounting Research 45, no. 2 (2007): 229–56. http://dx.doi.org/10.1111/j.1475-679x.2007.00231.x.

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3

Colwyn Jones, T., and David Dugdale. "The concept of an accounting regime." Critical Perspectives on Accounting 12, no. 1 (2001): 35–63. http://dx.doi.org/10.1006/cpac.2000.0412.

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Burkhardt, Katrin, and Roland Strausz. "Accounting Transparency and the Asset Substitution Problem." Accounting Review 84, no. 3 (2009): 689–712. http://dx.doi.org/10.2308/accr.2009.84.3.689.

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ABSTRACT: We develop a model to show that transparent accounting can worsen the asset substitution effect of debt. This negative effect can outweigh the usual positive effect of transparency. We demonstrate this point by comparing pure historical cost accounting to the conservatively skewed accounting regime of lower-of-cost-or-market (LCM). In a market with asymmetric information, the two regimes lead to different degrees of transparency. The more transparent LCM regime produces more efficient results for firms with lower debt levels, while the opaque rule of pure historical cost accounting is preferable for higher debt levels. We explore the implications of this result for the firm's optimal capital structure.

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Tsao, Shou-Min, Hsueh-Tien Lu, and Edmund C. Keung. "Interim Reporting Frequency and the Mispricing of Accruals." Accounting Horizons 32, no. 3 (2018): 29–47. http://dx.doi.org/10.2308/acch-52097.

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SYNOPSIS This study examines the association between mandatory financial reporting frequency and the accrual anomaly. Based on regulatory changes in reporting frequency requirements in Taiwan, we divide our sample period into three reporting regimes: a semiannual reporting regime from 1982 to 1985, a quarterly reporting regime from 1986 to 1987, and a monthly reporting regime (both quarterly financial reports and monthly revenue disclosure) from 1988 to 1993. We find that although both switches (from the semiannual reporting regime to the quarterly reporting regime and from the quarterly reporting regime to the monthly reporting regime) hasten the dissemination of the information contained in annual accruals into stock prices and reduce annual accrual mispricing, the switch to monthly reporting has a lesser effect. Our results are robust to controlling for risk factors, transaction costs, and potential changes in accrual, cash flow persistence, and sample composition over time. These results imply that more frequent reporting is one possible mechanism to reduce accrual mispricing. JEL Classifications: G14; L51; M41; M48. Data Availability: Data are available from sources identified in the paper.

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Cernuşca, Lucian. "The Accounting and Tax Regime Regarding Sponsorship." CECCAR Business Review 2020, no. 2 (2020): 19–29. http://dx.doi.org/10.37945/cbr.2020.02.03.

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Bepari, Md Khokan, and Abu Taher Mollik. "Regime change in the accounting for goodwill." International Journal of Accounting & Information Management 25, no. 1 (2017): 43–69. http://dx.doi.org/10.1108/ijaim-02-2016-0018.

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Purpose This study aims to examine the impact of the recent regime change in accounting for goodwill, from the systematic periodic amortisation to the impairment testing, on the frequency and the extent of goodwill write-offs in the context of Australia. It also examines the impact of the change from the amortisation approach to the impairment approach on the value relevance of older goodwill. Design/methodology/approach The authors approach the first research question by comparing the actual amount of goodwill impairment charge by the sample firms with the minimum “as if” amortisation charge that would have been required under the amortisation regime. The authors approach the second question using a modified Ohlson model (1995), similar to Bugeja and Gallery (2006). The sample consists of 911 firm-year observations with the number of observations in the particular year being 238, 242, 220 and 211 in 2009, 2008, 2007 and 2006, respectively. Findings The findings suggest that the adoption of the impairment approach has decreased the frequency and the amount of goodwill write-off. The goodwill impairment amount is substantially less than the “as if” amortisation amount that would have been required under the amortisation regime. The results also suggest that older goodwill is now value-relevant, whereas goodwill purchased during the current year is not value-relevant. One reason for this may be that AASB 3: Business Combination allows for the provisional allocation of the purchase price to goodwill to be allocated to other identifiable intangible assets latter on. Hence, during the year of business combination, investors do not form a firm view of the amount of goodwill arising out of the business combination. Research limitations/implications This study uses data for the first four years since the inception of the impairment approach. Practical implications The findings of this study have important implications for the fair value accounting debate. The discretions allowed the managers under the impairment approach to improve the information content of goodwill. The relatively low levels of goodwill impairment even during the 2008-2009 global financial crisis contradict to the apprehensions found in the literature that managers will use the goodwill write-off as a tool for downward earnings management. The findings also imply that if managers are allowed with adequate flexibility through accounting standards rather than stipulating some systematic and mechanistic rules, the information value of the accounting measurement may improve. Social implications The findings feed into the debate of “rule-based” versus “principle-based” accounting standards and favours the “principle-based” accounting standards. The findings also contribute to the accounting measurement literature by concluding that if allowed with discretionary choices, managers may not always opt for the conservative accounting measurements (such as, recording goodwill write-offs). Originality/value Adopting an alternative approach, this study shows that the fair value accounting for goodwill has resulted in an optimistic approach to goodwill write-offs. It has also improved the information content of reported goodwill. This is the first known study addressing the research questions in consideration after the adoption of the goodwill impairment approach.

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8

Lewis, Karen K. "Stochastic Regime Switching and Stabilizing Policies within Regimes." International Journal of Finance & Economics 1, no. 2 (1996): 71–85. http://dx.doi.org/10.1002/(sici)1099-1158(199604)1:2<71::aid-ijfe7>3.0.co;2-t.

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9

Radhakrishnan, Suresh. "Investors' Recovery Friction and Auditor Liability Rules." Accounting Review 74, no. 2 (1999): 225–40. http://dx.doi.org/10.2308/accr.1999.74.2.225.

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This paper examines investor welfare under two different liability regimes for holding auditors liable for investor losses, the due care and the strict liability regimes. In both regimes, the investor pays the expected legal liability cost to the auditor, and a portion of any subsequent damages awarded by the court is retained by the lawyer as a contingent fee, which is called the recovery friction. This study finds that the presence of the recovery friction leads to second-best efforts by the auditor and the manager. Investor welfare in the due care regime is higher than in the strict liability regime because the expected litigation cost for the investor is lower. Investor welfare is higher in the due care regime than in the strict liability regime even when audit effort in the due care regime is lower than audit effort in the strict liability regime.

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How, Shi-Min, and Chandana Alawattage. "Accounting decoupled: A case study of accounting regime change in a Malaysian company." Critical Perspectives on Accounting 23, no. 6 (2012): 403–19. http://dx.doi.org/10.1016/j.cpa.2012.04.007.

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11

Downing, Jeff. "Fair-value accounting, asset sales and banks’ lending." Studies in Economics and Finance 35, no. 1 (2018): 163–77. http://dx.doi.org/10.1108/sef-10-2017-0294.

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Purpose This paper aims to examine the interaction between fair-value accounting, asset sales and banks’ lending in booms and busts. Throughout, the author uses “fair value” and “mark-to-market” interchangeably, to denote an accounting regime where changes in the prices of banks’ assets affect regulatory capital. “Historic-cost accounting” has been used in the paper to denote an accounting regime where changes in asset prices do not affect regulatory capital. Design/methodology/approach The author built a model that examines how the accounting regime affects banks’ incentives to sell assets and how the impact of the accounting regime on asset sales affects lending. Findings In a bust, fair value strengthens banks’ incentives to sell assets. The resulting increase in sales increases banks’ lending capacity. Consequently, lending can be higher under fair value. Conversely, in a boom, historic cost strengthens banks incentives to sell assets. The resulting increase in sales increases banks’ lending capacity. Hence, lending can be higher under historic cost. Originality/value This paper identifies a new channel through which the accounting regime could affect lending. The accounting regime can affect banks’ incentives to sell assets. The resulting difference in sales can affect banks’ ability to make new loans. Hence, in a boom, although banks book mark-to-market gains under fair value, asset sales could be higher under historic cost. Lending, thus, could be higher under historic cost. Conversely, in a bust, although banks book mark-to-market losses under fair value, sales could be higher under fair value. Lending, thus, could be higher under fair value.

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12

Drucker, Adam G., Stephen T. Garnett, Marty K. Luckert, Gabriel M. Crowley, and Niilo Gobius. "Manager-based valuations of alternative fire management regimes on Cape York Peninsula, Australia." International Journal of Wildland Fire 17, no. 5 (2008): 660. http://dx.doi.org/10.1071/wf07102.

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Decisions about fire management on pastoral properties are often made with little empirical knowledge. Proper accounting of the interactions between land, pasture, trees and livestock within the context of climatic variability and market conditions is required in order to assess financial implications of alternative fire management regimes. The present paper aims to facilitate such accounting through the development of a manager-driven decision-support tool. This approach is needed to account for variable property conditions and to provide direction towards considering optimal practices among a vast array of potential activities. The tool is an interactive model, developed for a hypothetical property, which analyses the costs and benefits of a baseline (no fires) against a historically based probability of wildfire overlaid by four alternative fire management regimes, representing cumulatively increasing levels of fire management intensity. These are: Regime 1, no action taken to prevent or stop wildfires; Regime 2, fire suppression (reactive fighting of wildfire); Regime 3, Regime 2 plus prevention (early dry-season burning); and Regime 4, Regime 3 combined with storm-burning (burning soon after the first wet-season storm). The model, which shows that fire and fire management have significant influences on the gross margin of Cape York Peninsula cattle properties, can be used as a decision-support tool in developing fire management strategies for individual properties. Specific fire management recommendations follow, together with the identification of potential areas of future work needed to facilitate use of the tool by clients.

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13

Koo, Bon-Woo. "The Formation and Transformation of U.S. Capital Accounting Regime." Korean Journal of Sociology 52, no. 2 (2018): 37–84. http://dx.doi.org/10.21562/kjs.2018.05.52.2.37.

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14

Mellett, Howard, and Jan Williams. "Accountability and the accounting regime in the public sector." International Journal of Public Sector Management 9, no. 1 (1996): 61–70. http://dx.doi.org/10.1108/09513559610109466.

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15

DRIFFILL, JOHN, TURALAY KENC, and MARTIN SOLA. "REAL OPTIONS WITH PRICED REGIME-SWITCHING RISK." International Journal of Theoretical and Applied Finance 16, no. 05 (2013): 1350028. http://dx.doi.org/10.1142/s0219024913500283.

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We develop a model of regime-switching risk premia as well as regime-dependent factor risk premia to price real options. The model incorporates the observation that the underlying risky income streams of real options are subject to discrete shifts over time as well as random changes. The presence of discrete shifts is due to systematic and unsystematic risk associated with changes in business cycles or in economic policy regimes or events such as takeovers, major changes in business plans. We analyze the impact of regime-switching behavior on the valuation of projects and investment opportunities. We find that accounting for Markov switching risk results in a delay in the expected timing of the investment while the regime-specific factor risk premia make the possibility of a regime shift more pronounced.

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KINGSTON, GEOFFREY. "Choice of Tax Regime for Superannuation Contributors." Australian Accounting Review 16, no. 38 (2006): 41–46. http://dx.doi.org/10.1111/j.1835-2561.2006.tb00043.x.

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Yuen, Fei Lung, and Hailiang Yang. "Option Pricing in a Jump-Diffusion Model with Regime Switching." ASTIN Bulletin 39, no. 2 (2009): 515–39. http://dx.doi.org/10.2143/ast.39.2.2044646.

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AbstractNowadays, the regime switching model has become a popular model in mathematical finance and actuarial science. The market is not complete when the model has regime switching. Thus, pricing the regime switching risk is an important issue. In Naik (1993), a jump diffusion model with two regimes is studied. In this paper, we extend the model of Naik (1993) to a multi-regime case. We present a trinomial tree method to price options in the extended model. Our results show that the trinomial tree method in this paper is an effective method; it is very fast and easy to implement. Compared with the existing methodologies, the proposed method has an obvious advantage when one needs to price exotic options and the number of regime states is large. Various numerical examples are presented to illustrate the ideas and methodologies.

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18

Chou, Nan-Ting, and Ramon P. DeGennaro. "REGIME CHANGES IN STOCK RETURNS." Journal of Business Finance & Accounting 21, no. 1 (1994): 93–108. http://dx.doi.org/10.1111/j.1468-5957.1994.tb00307.x.

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Rodríguez, Raúl, Benito González, Javier García, Gaetan Toulon, Frédéric Morancho, and Antonio Núñez. "DC Gate Leakage Current Model Accounting for Trapping Effects in AlGaN/GaN HEMTs." Electronics 7, no. 10 (2018): 210. http://dx.doi.org/10.3390/electronics7100210.

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A DC leakage current model accounting for trapping effects under the gate of AlGaN/GaN HEMTs on silicon has been developed. Based on TCAD numerical simulations (with Sentaurus Device), non-local tunneling under the Schottky gate is necessary to reproduce the measured transfer characteristics in a subthreshold regime. Once the trap concentration and distribution are determined in the device, the resulting gate leakage current is modeled making use of Verilog-A, for typical operation regimes.

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Choi, James J., David Laibson, and Brigitte C. Madrian. "Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect." American Economic Review 99, no. 5 (2009): 2085–95. http://dx.doi.org/10.1257/aer.99.5.2085.

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Consistent with mental accounting, we document that investors sometimes choose the asset allocation for one account without considering the asset allocation of their other accounts. The setting is a firm that changed its 401(k) matching rules. Initially, 401(k) enrollees chose the allocation of their own contributions, but the firm chose the match allocation. These enrollees ignored the match allocation when choosing their own-contribution allocation. In the second regime, enrollees selected both accounts' allocations, leading them to integrate the two. Own-contribution allocations before the rule change equal the combined own- and match-contribution allocations afterward, whereas combined allocations differ sharply across regimes. (JEL G11, J32)

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Corona, Carlos, Lin Nan, and Ran Zhao. "Imitation in Product-Market Competition and Accounting Reporting." Journal of Management Accounting Research 32, no. 3 (2019): 93–115. http://dx.doi.org/10.2308/jmar-52581.

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ABSTRACT We analyze the economic impact of the accounting treatment of exploration expenditures in three different accounting regimes: aggregate disclosure, disaggregated disclosure, and a voluntary choice. The disclosure of information regarding the outcome of exploration can be used by competitors in two ways: to assess the competitive gain of the firm or to imitate the firm's exploration. Different accounting treatments provide different information for these two purposes and, thereby, affect investment decisions differently. We find that, if an accounting regime change that increases information about exploration outcomes is enforced, the leader's investment decision in general becomes more extreme. On the one hand, leaders with high investment costs may decrease their investment because the spillover effect is too strong. On the other hand, interestingly, leaders with low investment costs may actually increase their investment to dilute the imitation-useful information and even intimidate competitors.

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Guo, Weiyu, and Mark E. Wohar. "IDENTIFYING REGIME CHANGES IN MARKET VOLATILITY." Journal of Financial Research 29, no. 1 (2006): 79–93. http://dx.doi.org/10.1111/j.1475-6803.2006.00167.x.

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Accominotti, Olivier, Jason Cen, David Chambers, and Ian W. Marsh. "Currency Regimes and the Carry Trade." Journal of Financial and Quantitative Analysis 54, no. 5 (2019): 2233–60. http://dx.doi.org/10.1017/s002210901900019x.

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This study exploits a new long-run data set of daily bid and offered exchange rates in spot and forward markets from 1919 to the present to analyze carry returns in fixed and floating currency regimes. We first find that outsized carry returns occur exclusively in the floating regime, being zero in the fixed regime. Second, we show that fixed-to-floating regime shifts are associated with negative returns to a carry strategy implemented only on floating currencies, robust to the inclusion of volatility risks. These shifts are typically characterized by global flight-to-safety events that represent bad times for carry traders.

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Cernușca, Lucian. "The Accounting and Tax Regime Regarding the Real Estate Rentals." CECCAR Business Review 1, no. 11 (2020): 15–22. http://dx.doi.org/10.37945/cbr.2020.11.02.

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Cohen, Jeffrey R., Ganesh Krishnamoorthy, Marietta Peytcheva, and Arnold M. Wright. "How Does the Strength of the Financial Regulatory Regime Influence Auditors' Judgments to Constrain Aggressive Reporting in a Principles-Based Versus Rules-Based Accounting Environment?" Accounting Horizons 27, no. 3 (2013): 579–601. http://dx.doi.org/10.2308/acch-50502.

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SYNOPSIS: With the movement toward adoption of International Financial Reporting Standards (IFRS) worldwide, a question arises as to whether the adoption of a principles-based approach, such as IFRS, will ultimately result in higher-quality financial reporting. This issue is particularly relevant because, even though for now the SEC is not adopting IFRS, the securities markets and the SEC still need to ponder the implications of a decision that may lead to the ultimate adoption of, or at least some degree of convergence with, IFRS in the U.S. To examine this issue, we employ an experiment with 97 experienced auditors as participants. Using a case setting involving the classification of a lease (operating versus capital), we manipulate the accounting standard type as rules-based or principles-based, and the regulatory regime as stronger or weaker. The lease setting is one where there are indications of management's incentives to leave the debt off of the balance sheet and, hence, engage in aggressive reporting. We find, as expected, that auditors are more likely to constrain aggressive reporting under principles-based accounting standards than under rules-based standards, under both stronger and weaker regulatory regimes. Importantly, from a public policy perspective, the results indicate that auditors' judgments under principles-based standards, regardless of the strength of the financial regulatory regime, lead to more conservative reporting when compared to rules-based standards coupled with a stronger financial regulatory regime, which is the way the U.S. environment is often characterized.

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Cheung, Ka Chun, and Hailiang Yang. "Asset Allocation with Regime-Switching: Discrete-Time Case." ASTIN Bulletin 34, no. 01 (2004): 99–111. http://dx.doi.org/10.2143/ast.34.1.504957.

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In this paper, we study the optimal asset allocation problem under a discrete regime switching model. Under the short-selling and leveraging constraints, the existence and uniqueness of the optimal trading strategy are obtained. We also obtain some natural properties of the optimal strategy. In particular, we show that if there exists a stochastic dominance order relationship between the random returns at different regimes, then we can order the optimal proportions we should invest in such regimes.

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Tabasum, Heena, and S. Venkatesh. "GST Repercussion on Financial Reporting under IND AS Regime." ComFin Research 9, no. 2 (2021): 9–13. http://dx.doi.org/10.34293/commerce.v9i2.3660.

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Indian economy witnessed the biggest reform ever seen since independence is the GST introduction and application of accounting standards converged with Global standards, namely, IND AS. Both GST and IND ASare scorching topics of the period, as taxing goods or services and accounting can be seen as dependent on each other as they go in tandem with each other. Changes can be witnessed in the field of business, finance, accounting and reporting due to the GST move in India along with changes in tax command. Financial information is the primary source of information to the users to know about the performance of the company, which is prepared by considering the guidelines of IND AS and the transaction value is determined by considering GST law. This paper intends to bring light to the area of impact of GST on reporting of financial performance under the IND AS regime by considering GST aspects like an input tax credit, revenue recognition, events treatment etc.., for this purpose, both primary and secondary data has been used. Analysis is done by using some statistical tools, test, graphs, and tables. With GST introduction, every business has changed and do with accounting practices; an attempt has been made to trace such changes and their impact.

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Harris, Glen R. "Markov Chain Monte Carlo Estimation of Regime Switching Vector Autoregressions." ASTIN Bulletin 29, no. 1 (1999): 47–79. http://dx.doi.org/10.2143/ast.29.1.504606.

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AbstractFinancial time series data are typically found to possess leptokurtic frequency distributions, time varying volatilities, outliers and correlation structures inconsistent with linear generating processes, nonlinear dependence, and dependencies between series that are not stable over time. Regime Switching Vector Autoregressions are of interest because they are capable of explaining the observed features of the data, can capture a variety of interactions between series, appear intuitively reasonable, are vector processes, and are now tractable.This paper considers a vector autoregression subject to periodic structural changes. The parameters of a vector autoregression are modelled as the outcome of an unobserved discrete Markov process with unknown transition probabilities. The unobserved regimes, one for each time point, together with the regime transition probabilities, are determined in addition to the vector autoregression parameters within each regime.A Bayesian Markov Chain Monte Carlo estimation procedure is developed which efficiently generates the posterior joint density of the parameters and the regimes. The complete likelihood surface is generated at the same time, enabling estimation of posterior model probabilities for use in non-nested model selection. The procedure can readily be extended to produce joint prediction densities for the variables, incorporating both parameter and model uncertainty.Results using simulated and real data are provided. A clear separation of the variance between a stable and an unstable regime was observed. Ignoring regime shifts is very likely to produce misleading volatility estimates and is unlikely to be robust to outliers. A comparison with commonly used models suggests that Regime Switching Vector Autoregressions provide a particularly good description of the observed data.

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Prasetyo, Ahmad Danu, Camelia Magdalena, Brian Charvia, and Mandra Lazuardi Kitri. "Should Indonesia adopt a basket currency regime." Afro-Asian J. of Finance and Accounting 10, no. 4 (2020): 494. http://dx.doi.org/10.1504/aajfa.2020.110490.

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Alfeus, Mesias, Ludger Overbeck, and Erik Schlögl. "Regime switching rough Heston model." Journal of Futures Markets 39, no. 5 (2019): 538–52. http://dx.doi.org/10.1002/fut.21993.

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Rutherford, Brian A. "Are Accounting Standards Memes? The Survival of Accounting Evolution in an Age of Regulation." Philosophy of Management 19, no. 4 (2020): 499–523. http://dx.doi.org/10.1007/s40926-020-00142-0.

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AbstractThis paper employs memetics to argue against the view that standardisation overwhelms the evolution of accounting. I suggest that, in an unregulated setting, accounting procedures constitute classic memes and survive according to their fitness for their environment, which is predominantly a matter of their suitability for investment decision-making. In a standardising regime, the standardising canon embodies a special kind of meme encoding ideas as actions to be imitated to realise those ideas. Evolutionary pressures and the canon develop in tandem, although not necessarily synchronously.If we accept the central tenet of memetics, which is also the assumption underlying the argument challenged here, that memes emerging before regulation were responsive to evolutionary pressures, we can analyse the responsiveness of the standardising canon by examining its relationship to a counterfactual continuation of the pre-regulated regime. The degree of synchronicity is an empirical, but elusive, question and we should follow Dennett’s recommendation that we settle for the philosophical realisations we can glean from memetics.I argue that three factors are of importance in addressing the question. Accounting memes function within a dense ecology, limiting radical and destabilising change. There has been a high degree of continuity, permeability and commonality in the intellection driving development: the same thinking has influenced policy design wherever it has taken place. Finally, the principal determinant of successful adaptation did not change on the transition to standardisation and the canon and its vehicles have survived. Consequently, we can conclude that standardisation has not disrupted the development of accounting.

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Farooq, Omar. "Recommendations: Pre- and post-crisis analysis from Asian emerging markets." Corporate Ownership and Control 10, no. 3 (2013): 129–41. http://dx.doi.org/10.22495/cocv10i3art10.

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How does change in corporate governance regimes effect financial analysts? Are analysts able to incorporate the effect of better governance regimes in their recommendations? This paper aims to answer these questions by documenting the effect of corporate governance mechanisms on the performance of analysts‟ recommendations in Asian emerging markets during the pre-crisis and the post-crisis periods. Using a large dataset of analyst recommendations, we document that analysts were not able to generate informative recommendations during the post-crisis period (better governance regime). We report that performance of analyst recommendations deteriorated significantly during the post-crisis period relative to the pre-crisis period (poor governance regime). Our results indicate relative ineffectiveness of governance reforms initiated after the Asian financial crisis of 1997-98.

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Antonelli, Valerio, Raffaele D’Alessio, Roberto Rossi, and Warwick Funnell. "Accounting and the banality of evil." Accounting, Auditing & Accountability Journal 31, no. 8 (2018): 2165–91. http://dx.doi.org/10.1108/aaaj-11-2016-2783.

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Purpose The purpose of this paper is to identify the significant role of accounting in the expropriation of Jewish real estate after the enforcement of race laws under Benito Mussolini’s Fascist regime in Italy. Design/methodology/approach Hannah Arendt’s understanding of government bureaucracy in the twentieth century totalitarian regimes informs the research which draws upon a wide range of primary sources. Findings Implementation of the program of expropriation was the responsibility of a government body, EGELI, which was created specifically for this purpose. The language of accounting provided the means to disguise the nature and brutality of the process and allow bureaucrats to be removed from the consequences of their actions. Accounting reports from EGELI to the Ministry of Finance confirmed each year that those who worked in EGELI were devoted to its mission as an agency of the Fascist State. Research limitations/implications The findings of this study recognize the need for further research on the role played by servicemen, bureaucrats and accounting as a technology of government in the deportation of Italian Jews to Germany. The study also provides impetus to examine how other countries managed the properties confiscated or expropriated from the Jews in the earlier stages of the Final Solution. Originality/value The study is the first to identify the significant role played by accounting and accountants in the persecution of Italian Jews under the Fascism.

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Akinsomi, Omokolade, Yener Coskun, Rangan Gupta, and Chi Keung Marco Lau. "Impact of volatility and equity market uncertainty on herd behaviour: evidence from UK REITs." Journal of European Real Estate Research 11, no. 2 (2018): 169–86. http://dx.doi.org/10.1108/jerer-06-2017-0021.

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PurposeThis paper aims to examine herding behaviour among investors and traders in UK-listed Real Estate Investment Trusts (REITs) within three market regimes (low, high and extreme volatility periods) from the period June 2004 to April 2016.Design/methodology/approachObservations of investors in 36 REITs that trade on the London Stock Exchange as at April 2016 were used to analyse herding behaviour among investors and traders of shares of UK REITs, using a Markov regime-switching model.FindingsAlthough a static herding model rejects the existence of herding in REITs markets, estimates from the regime-switching model reveal substantial evidence of herding behaviour within the low volatility regime. Most interestingly, the authors observed a shift from anti-herding behaviour within the high volatility regime to herding behaviour within the low volatility regime, with this having been caused by the FTSE 100 Volatility Index (UK VIX).Originality/valueThe results have various implications for decisions regarding asset allocation, diversification and value management within UK REITs. Market participants and analysts may consider that collective movements and market sentiment/psychology are determinative factors of risk-return in UK REITs. In addition, general uncertainty in the equity market, proxied by the impact of the UK VIX, may also provide a signal for increasing herding-related risks among UK REITs.

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한형성. "‘Home Accounting Movement’ in Park Chung Hee Regime in the 1970s." Review of Business History 32, no. 2 (2017): 203–30. http://dx.doi.org/10.22629/kabh.2017.32.2.009.

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Smith-Lacroix, Jean-Hubert, Sylvain Durocher, and Yves Gendron. "The erosion of jurisdiction: Auditing in a market value accounting regime." Critical Perspectives on Accounting 23, no. 1 (2012): 36–53. http://dx.doi.org/10.1016/j.cpa.2011.09.002.

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LEHEZA, Yulia. "LEGAL REGIME OF ACCOUNTING AND WASTE MANAGEMENT OF THE MINING INDUSTRY." Law. State. Technology, no. 1 (2021): 32–40. http://dx.doi.org/10.32782/lst/2021-1-5.

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Stenheim, Tonny, and Dag Øivind Madsen. "The shift of accounting models and accounting quality: The case of Norwegian GAAP." Corporate Ownership and Control 14, no. 4 (2017): 289–300. http://dx.doi.org/10.22495/cocv14i4c1art11.

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This paper investigates the change in accounting quality when firms shift from a revenue-oriented historical cost accounting regime as Norwegian GAAP (NGAAP) to a balance-oriented fair value accounting regime as International Financial Reporting Standards (IFRS). Previous studies have demonstrated mixed effects on the accounting quality upon IFRS adoption. One possible reason is that the investigated domestic GAAP to a large extent has been adjusted to IFRS prior to IFRS adoption. This is not the case in NGAAP where IFRS adoption led to significant changes in the recognition and measurement rules. To investigate the change in accounting quality, the paper makes use of a panel design with 640 firm-year obserations from 2001 up to the financial crisis year 2008, including four years of pre-IFRS NGAAP observations and four years of IFRS-observations. The paper employs four commonly used approaches to investigate accounting quality: test of value relevance of net earnings and book values, accrual quality of net earnings, incidence of small positive net earnings and test of timely loss recognition. The paper demonstrates that the adoption of IFRS increases the relevance accounting information has for valuation purposes. IFRS requires recognition of intangible assets and off-balance sheet liabilities not allowed under NGAAP. Moreover, IFRS allows the use of fair value to a larger extent than NGAAP. The paper also demonstrates that NGAAP leads to timelier recognition of losses than IFRS. This supports the notion that historical cost accounting, which is the basic accounting principle under NGAAP, provides more conservative accounting numbers. Overall, this suggests that IFRS provides information more useful for valuation purposes, but to a lesser extent stewardship purposes which generally favours conservatism. NGAAP on the other hand, provides information less relevant for valuation purposes, but more relevant for stewardship purposes.

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Hatherly, David, Luc Nadeau, and Lyn Thomas. "GAME THEORY AND THE AUDITOR'S PENALTY REGIME." Journal of Business Finance & Accounting 23, no. 1 (1996): 29–45. http://dx.doi.org/10.1111/j.1468-5957.1996.tb00400.x.

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Ji, Xudong, Wei Lu, Wen Qu, and Vernon J. Richardson. "Changes in Internal Control Disclosure and Analyst Forecasts Around Mandatory Disclosure Required by the China SOX." Accounting Horizons 33, no. 3 (2019): 43–68. http://dx.doi.org/10.2308/acch-52452.

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SYNOPSIS Beginning January 1, 2012, all publicly listed firms in China are required, under the Basic Standard of Enterprise Internal Control (China SOX), to provide an internal control report (ICR). Prior to that, many firms had elected to voluntarily comply with this regulation. We examine the change in internal control disclosure regimes and its impact on the properties of analyst earnings forecasts. We compare the quantity and severity of ICWs disclosed under voluntary versus mandatory regimes, and find evidence suggesting that the disclosure of more serious ICWs increases when ICW disclosures become mandatory. We then investigate the effect of ICW disclosures on analyst forecast error and dispersion. We find that measures of ICWs are negatively associated with desirable properties of analyst earnings forecasts. We also find a less positive association between ICW disclosures and forecast error and dispersion in the mandatory regime. JEL Classifications: G34; G38; M41.

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Christiansen, Charlotte, Angelo Ranaldo, and Paul Söderlind. "The Time-Varying Systematic Risk of Carry Trade Strategies." Journal of Financial and Quantitative Analysis 46, no. 4 (2011): 1107–25. http://dx.doi.org/10.1017/s0022109011000263.

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AbstractWe explain the currency carry trade (CT) performance using an asset pricing model in which factor loadings are regime dependent rather than constant. Empirical results show that a typical CT strategy has much higher exposure to the stock market and is mean reverting in regimes of high foreign exchange volatility. The findings are robust to various extensions. Our regime-dependent pricing model provides significantly smaller pricing errors than a traditional model. Thus, the CT performance is better explained by a time-varying systematic risk that increases in volatile markets, suggesting a partial resolution of the uncovered interest parity puzzle.

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Wright, Joseph, and Abel Escribà-Folch. "Authoritarian Institutions and Regime Survival: Transitions to Democracy and Subsequent Autocracy." British Journal of Political Science 42, no. 2 (2011): 283–309. http://dx.doi.org/10.1017/s0007123411000317.

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This article examines how authoritarian parties and legislatures affect regime survival. While authoritarian legislatures increase the stability of dictators, political parties – even when devised to quell internal threats – can destabilize dictators. The main argument is that authoritarian parties influence the distribution of power in a subsequent new democracy by helping to protect the interests of authoritarian elites. These institutions thus increase the likelihood of democratization. Using a dataset of authoritarian regimes in 108 countries from 1946 to 2002 and accounting for simultaneity, the analysis models transitions to democracy and to a subsequent authoritarian regime. Results indicate that authoritarian legislatures are associated with a lower probability of transition to a subsequent dictatorship. Authoritarian parties, however, are associated with a higher likelihood of democratization.

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Gibassier, Delphine. "Private Standards in the Climate Regime: The Greenhouse Gas Protocol." Social and Environmental Accountability Journal 33, no. 3 (2013): 181–82. http://dx.doi.org/10.1080/0969160x.2013.845037.

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Bartov, Eli, C. S. Agnes Cheng, and Hong Wu. "Overbidding in Mergers and Acquisitions: An Accounting Perspective." Accounting Review 96, no. 2 (2020): 55–79. http://dx.doi.org/10.2308/tar-2018-0260.

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ABSTRACT Does accounting regime play a role in the well-documented phenomenon of overbidding in M&As? The 2001 regulatory change from a goodwill amortization to a non-amortization regime (SFAS 142) affords us a quasi-experimental setting for testing the consequences of M&A accounting rules for acquirers' bidding decisions. Relying on a novel approach to modeling optimal bidding, our primary finding indicates a significant increase in overbidding in the post-2001 period, suggesting that M&A accounting has real consequences for bidding decisions, and that this result is robust to a battery of sensitivity tests. In addition, supplementary tests show that overbidding is more pronounced in pooling versus purchase transactions, and that the accounting regime's implications for overbidding and acquisition premium are distinct. Overall, our findings shed light on the role accounting plays in shaping managerial decisions—and, ultimately, shareholder wealth—in an important corporate setting. They may thus inform researchers, corporate boards, and standards setters. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: G34, M41.

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Еремеева, С., and S. Eremeeva. "Features of the Accounting of Re-export Operations." Auditor 4, no. 1 (2018): 24–31. http://dx.doi.org/10.12737/article_5a6717c8caf416.08094880.

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This article deals with the re-export of goods, as a form of international economic relations, the conditions for the introduction of the re-export regime are considered. In addition, the work describes the types of re-export, gives features of re-export operations, offers sub-accounts for analytical accounting of re-export operations.

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Pastor, A. V., F. Ludwig, H. Biemans, H. Hoff, and P. Kabat. "Accounting for environmental flow requirements in global water assessments." Hydrology and Earth System Sciences 18, no. 12 (2014): 5041–59. http://dx.doi.org/10.5194/hess-18-5041-2014.

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Abstract. As the water requirement for food production and other human needs grows, quantification of environmental flow requirements (EFRs) is necessary to assess the amount of water needed to sustain freshwater ecosystems. EFRs are the result of the quantification of water necessary to sustain the riverine ecosystem, which is calculated from the mean of an environmental flow (EF) method. In this study, five EF methods for calculating EFRs were compared with 11 case studies of locally assessed EFRs. We used three existing methods (Smakhtin, Tennant, and Tessmann) and two newly developed methods (the variable monthly flow method (VMF) and the Q90_Q50 method). All methods were compared globally and validated at local scales while mimicking the natural flow regime. The VMF and the Tessmann methods use algorithms to classify the flow regime into high, intermediate, and low-flow months and they take into account intra-annual variability by allocating EFRs with a percentage of mean monthly flow (MMF). The Q90_Q50 method allocates annual flow quantiles (Q90 and Q50) depending on the flow season. The results showed that, on average, 37% of annual discharge was required to sustain environmental flow requirement. More water is needed for environmental flows during low-flow periods (46–71% of average low-flows) compared to high-flow periods (17–45% of average high-flows). Environmental flow requirements estimates from the Tennant, Q90_Q50, and Smakhtin methods were higher than the locally calculated EFRs for river systems with relatively stable flows and were lower than the locally calculated EFRs for rivers with variable flows. The VMF and Tessmann methods showed the highest correlation with the locally calculated EFRs (R2=0.91). The main difference between the Tessmann and VMF methods is that the Tessmann method allocates all water to EFRs in low-flow periods while the VMF method allocates 60% of the flow in low-flow periods. Thus, other water sectors such as irrigation can withdraw up to 40% of the flow during the low-flow season and freshwater ecosystems can still be kept in reasonable ecological condition. The global applicability of the five methods was tested using the global vegetation and the Lund-Potsdam-Jena managed land (LPJmL) hydrological model. The calculated global annual EFRs for fair ecological conditions represent between 25 and 46% of mean annual flow (MAF). Variable flow regimes, such as the Nile, have lower EFRs (ranging from 12 to 48% of MAF) than stable tropical regimes such as the Amazon (which has EFRs ranging from 30 to 67% of MAF).

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Pastor, A. V., F. Ludwig, H. Biemans, H. Hoff, and P. Kabat. "Accounting for environmental flow requirements in global water assessments." Hydrology and Earth System Sciences Discussions 10, no. 12 (2013): 14987–5032. http://dx.doi.org/10.5194/hessd-10-14987-2013.

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Abstract. With growing water needs for food production, it is necessary to improve the quantification of "Environmental Flow Requirements (EFRs)" to secure enough water for the freshwater ecosystems. In this study, five methods for calculating EFRs were compared to 11 case studies of locally-calculated EFRs. Three of the methods already existed (Smakhtin, Tennant and Tessmann) and two were developed in this study (the Variable Monthly Flow method and the Q90_Q50 method). The Variable Monthly Flow (VFM) method mimics for the first time the natural flow regimes while being "validated" at global and local scales. The VFM uses algorithms to classify flow regime into high, intermediate and low-flow months to take into account intra-annual variability by allocating EFRs with a percentage of mean monthly flow (MMF). The Q90_Q50 method allocates annual flow quantiles (Q50 and Q90) depending on the flow season. The results showed that, over all methods, 37% of annual discharge was allocated to "Nature" with a higher pressure on low flow requirements (LFR = 46% to 71% of average low flows) than on high flow requirements (HFR = 17% to 45% of average high flows). Environmental flow methods using fixed annual thresholds such as Tennant, Q90_Q50 and Smakhtin seemed to overestimate EFRs of stable flow regimes and underestimate EFRs of variable flow regimes. VFM and Tessmann methods showed the highest correlation with the locally-calculated EFRs (R2 = 0.91). The main difference between the Tessmann and VFM methods is that Tessmann method does not allow any water withdrawals during the low-flow season. Those five methods were tested within the global vegetation and hydrological model LPJml. The calculated global annual EFRs for "fair" ecological conditions represent between 25 to 46% of mean annual flow (MAF). Variable flow regimes such as the Nile have lower EFRs (ranging from 12 to 48% of MAF) than stable tropical regimes such as the Amazon (EFRs ranging from 30 to 67% of MAF).

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Christiansen, Charlotte. "Regime switching in the yield curve." Journal of Futures Markets 24, no. 4 (2004): 315–36. http://dx.doi.org/10.1002/fut.10118.

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Alexander, Carol, Alexander Rubinov, Markus Kalepky, and Stamatis Leontsinis. "Regime-dependent smile-adjusted delta hedging." Journal of Futures Markets 32, no. 3 (2011): 203–29. http://dx.doi.org/10.1002/fut.20517.

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Thomas, Deborah W., Tracy S. Manly, and Craig T. Schulman. "An International Investigation of the Influence of Dividend Taxation on Research and Development Tax Credits." Journal of the American Taxation Association 25, no. 2 (2003): 35–54. http://dx.doi.org/10.2308/jata.2003.25.2.35.

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This paper examines the ability of the research and development (R&D) tax credit to stimulate corporate R&D investment by considering it in the context of different forms of taxation for dividends. Many countries use an imputation system to eliminate the double tax on dividends found in a classical system. Using an international sample, we compare firms from different tax regimes that invest in R&D. The tax regime of interest offers both an R&D tax credit and an imputation credit for dividends. We develop a system of equations to estimate the companies' R&D expense and dividend payout. The primary result from the estimation is that firms operating in a tax regime that encourages both R&D and increased dividend payments spend less on R&D as they pay more in dividends. This inverse relation is greater than the inverse relation found between dividends and R&D in the full sample. We conclude that the effect of an R&D tax credit on private R&D spending depends on both the firms' commitment to dividend payments and the tax treatment of dividends.

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