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ContributorsBritten, Benjamin, 1913-1976 (Composer)
Description
This study investigates the relation between credit supply competition among banks and their clients’ conditional accounting conservatism (i.e., asymmetric timely loss recognition). The Interstate Banking and Branching Efficiency Act (IBBEA) of 1994 permits banks and bank holding companies to expand their business across state lines, introducing a positive shock to credit supply competition in the banking industry. The increase in credit supply competition weakens banks’ bargaining power in the negotiation process, which in turn may weaken their ability to demand conservative financial reporting from borrowers. Consistent with this prediction, results show that firms report less conservatively after the IBBEA is passed in their headquartered states. The effect of the IBBEA on conditional conservatism is particularly stronger for firms in states with a greater increase in competition among banks, firms whose operations are more concentrated in their headquarter states, firms with greater financial constraints, and firms subject to less external monitoring. Robustness tests confirm that the observed decline in conditional conservatism is causally related to the passage of IBBEA. Overall, this study highlights the impact of credit supply competition on financial reporting practices.
ContributorsHuang, Wei (Author) / Li, Yinghua (Thesis advisor) / Huang, Xiaochuan (Committee member) / Kaplan, Steve (Committee member) / Arizona State University (Publisher)
Created2018
Description当前，上市公司的盈余管理问题已是我国资本市场中普遍存在的突出问题。一般来说，一些企业为了满足资本市场对于上市、增发等条件的要求,以及为有效推动企业的并购、重组等行为的顺利实现,甚至为了谋求公司管理层的个别利益,往往运用盈余管理等举措实施公司财报及关键指标的粉饰修正，让不知情的股民蒙受一定的损失。普遍分析显示，我国股市中民营企业比其他企业遭遇的问题和压力更多、更大、更突出,因此民营企业从客观上来说拥有更强的盈余管理动机。而从当前我国资本市场的实际情况来看，我国相关专家学者对盈余管理的系统性深入研究，一般都瞄准了上市企业群体或持续亏损企业，对盈余管理的研究不系统、不全面、不深入，这将对我国进一步提升盈余管理监管水平构成一定不利影响。当前，由于我国民企在自身管理及发展动力方面的特殊性,我国民企的管理、盈余管理特点和国外上市公司还存在着很大的不同,进一步深入研究我国民企上市公司自身管理方面的突出特点，以及其对企业盈余管理等方面的深层次影响,有助于监管层对症下药，更有针对性地研究出台全新的监管措施,进一步提升管理水平。这还可以为公司发展的决策层及相关会计信息使用人员提供一定的决策参考, 因此其拥有十分重要的意义。
本文首先认真总结分析了有关上市企业治理结构和盈余管理等方面的历史文献资料，依托当前资本市场上普遍运用的委托代理、内部人控制和契约等理论，系统研究了我国民企上市公司在自身治理结构方面的突出特征以及其对盈余管理方面所构成影响的深层次原理。在此基础上，本文通过2015-2017年我国上市企业数据，基于截面Jones模型对民营企业和非民营企业盈余管理程度进行测算和比较分析，发现民营企业盈余管理程度更高；从四个层面系统研究民企公司自身的治理结构突出特点,设立回归模型论证了民营企业独特的公司治理结构特征对盈余管理程度确实会产生影响；最后,本文进一步利用修正的费尔萨姆一奥尔森估价模型对民营上市公司盈余管理有公司价值的关系进行了验证，发现两者具有显著相关性。
本文首先认真总结分析了有关上市企业治理结构和盈余管理等方面的历史文献资料，依托当前资本市场上普遍运用的委托代理、内部人控制和契约等理论，系统研究了我国民企上市公司在自身治理结构方面的突出特征以及其对盈余管理方面所构成影响的深层次原理。在此基础上，本文通过2015-2017年我国上市企业数据，基于截面Jones模型对民营企业和非民营企业盈余管理程度进行测算和比较分析，发现民营企业盈余管理程度更高；从四个层面系统研究民企公司自身的治理结构突出特点,设立回归模型论证了民营企业独特的公司治理结构特征对盈余管理程度确实会产生影响；最后,本文进一步利用修正的费尔萨姆一奥尔森估价模型对民营上市公司盈余管理有公司价值的关系进行了验证，发现两者具有显著相关性。
ContributorsChen, Hui (Author) / Shen, Wei (Thesis advisor) / Chang, Chun (Thesis advisor) / Huang, Xiaochuan (Committee member) / Arizona State University (Publisher)
Created2019
Description
The goal of the International Rescue Committee (IRC, created by Albert Einstein in 1933) is to serve those “whose lives and livelihoods are shattered by conflict and disaster to survive, recover, and gain control of their future,” (6), by providing victims of humanitarian crises with health care, education, and counseling. The IRC of Phoenix branch holds this same mission through the services it provides to the refugees of the Phoenix area. One important need that is not currently met by the IRC of Phoenix is the special health care needs of pregnant refugee women. The IRC of Phoenix is seeking funds to initiate a new “Prenatal Care Program” to meet the needs of the 40 or so pregnant refugees who come to our area each year.
This new program will build upon the existing programs currently provided by the IRC of Phoenix, including support in areas of resettlement, finance, community integration, and health. The objectives of this new prenatal-focused program are to serve the needs of pregnant refugee women by providing the physical and emotional support they need through partnerships with hospitals (such as Saint Joseph’s Hospital) and organizations (such as the Refugee Women’s Health Clinic of Phoenix).
The target audience includes women who seek refuge in the Phoenix area in the midst of a pregnancy, or with the intention to become pregnant and who are receiving other services from the IRC of Phoenix. This grant will fund a prenatal care caseworker position for as long as there are incoming funds and pregnant refugee women in Phoenix. The prenatal care caseworker’s duties include:
● Monitoring the overall health of pregnant refugee women assisted by the IRC of Phoenix
● Expanding access to prenatal care for pregnant refugee women
● Connecting pregnant refugee women with necessary information on healthy pregnancies and introducing them to childcare programs that the IRC of Phoenix currently provides
● Creating and maintaining strong relationships with hospitals and health care facilities
● Accompanying pregnant refugee women to medical appointments as needed
● Participating in all other duties necessary to ensure the safe pregnancy of refugee women under the care of the IRC of Phoenix
To evaluate the success of the program, the IRC of Phoenix will monitor the number of pregnant refugee women seeking help and monitor health to see how the women are being served and the number of these women who are fully served based on the above objectives. The required grant money needed each year amounts to $40,000. A multi-year commitment of at least five years is expected. This funding represents the annual salary of the newly hired caseworker, and the IRC of Phoenix will be covering administration costs, supplies, and equipment.
This new program will build upon the existing programs currently provided by the IRC of Phoenix, including support in areas of resettlement, finance, community integration, and health. The objectives of this new prenatal-focused program are to serve the needs of pregnant refugee women by providing the physical and emotional support they need through partnerships with hospitals (such as Saint Joseph’s Hospital) and organizations (such as the Refugee Women’s Health Clinic of Phoenix).
The target audience includes women who seek refuge in the Phoenix area in the midst of a pregnancy, or with the intention to become pregnant and who are receiving other services from the IRC of Phoenix. This grant will fund a prenatal care caseworker position for as long as there are incoming funds and pregnant refugee women in Phoenix. The prenatal care caseworker’s duties include:
● Monitoring the overall health of pregnant refugee women assisted by the IRC of Phoenix
● Expanding access to prenatal care for pregnant refugee women
● Connecting pregnant refugee women with necessary information on healthy pregnancies and introducing them to childcare programs that the IRC of Phoenix currently provides
● Creating and maintaining strong relationships with hospitals and health care facilities
● Accompanying pregnant refugee women to medical appointments as needed
● Participating in all other duties necessary to ensure the safe pregnancy of refugee women under the care of the IRC of Phoenix
To evaluate the success of the program, the IRC of Phoenix will monitor the number of pregnant refugee women seeking help and monitor health to see how the women are being served and the number of these women who are fully served based on the above objectives. The required grant money needed each year amounts to $40,000. A multi-year commitment of at least five years is expected. This funding represents the annual salary of the newly hired caseworker, and the IRC of Phoenix will be covering administration costs, supplies, and equipment.
ContributorsBatty, Rebecca (Co-author) / Gerais, Reem (Co-author) / Weitz, Rose (Thesis director) / Faurel, Lucile (Committee member) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / School of Molecular Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
In the field of Accountancy, recruiting is highly competitive among firms and prospective employees alike. This is particularly true when it comes to the firms Deloitte, Ernst & Young, KPMG, and PWC, the largest accounting firms that comprise what is known as the "Big Four." These firms maintain a large presence and recruit heavily on the Arizona State University (ASU) campus. There exists a defined path for recruiting with these firms; some of the opportunities offered include Office Tours, Externships, Internships, and Volunteer Service. However, as clear as the path may seem to someone who has researched these opportunities, it is murky for most students. Without direction, both students and the firms miss out on crucial relationship development. As an Accountancy major in the W.P. Carey School of Business, I had a difficult time understanding the recruiting process; much of my knowledge came from my peers. As a result, I researched what students know about the recruiting process, and how they learned this information. I also queried the Big Four firms and the student organization, Beta Alpha Psi, to learn what they want from students and how they organize their recruiting process. I surveyed Accountancy majors including both those who went through the recruiting process and those who had yet to go through the process. Overall, the results were consistent with my original understanding; many students lack knowledge of recruiting opportunities and those who did have such knowledge mainly learned of it from their peers and word of mouth. These results show room for growth in connecting students to the firms. A suggested course of action developed based on these findings can be integrated into the ACC101: Accountancy LEAP Program, as well as be incorporated into a student guide in order to better give students direction, a roadmap to the aforementioned path.
ContributorsWhitson, Jillian Layne (Author) / Faurel, Lucile (Thesis director) / Bonfiglio, Thomas (Committee member) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
Insider trading potentially reveals proprietary information, allowing rivals to compete more effectively against the insiders' firm. This paper examines whether proprietary costs are associated with insiders' trading decisions and the profitability of their trades. Using a variety of approaches to identify proprietary information risk, I find proprietary costs significantly deter insiders' trading activities. The deterrence effect is more pronounced when insider trading is likely to be more informative to rivals. Specifically, trades by top executives, non-routine trades, and trades at low complexity firms are curbed to a greater extent by proprietary costs. Examining the mechanisms of this deterrence effect, I find firms with higher proprietary costs are more likely to impose insider trading restrictions, and insiders' trading decisions are more sensitive to proprietary costs when they have higher share ownership of the company. These results suggest insiders reduce trading activities not only due to firm policies, but also due to incentive alignment. Finally, when insiders trade despite higher proprietary costs, they earn significantly higher abnormal profits from their purchase transactions. Overall, this study suggests product market considerations are an important factor associated with insiders' trading decisions and profitability of their trades. These findings are likely to be of interest to regulators and corporate boards in setting insider trading policies, and help investors make investment decisions using insider trading signals.
ContributorsChoi, Lyungmae (Author) / Hillegeist, Stephen (Thesis advisor) / Faurel, Lucile (Thesis advisor) / Hugon, Jean (Committee member) / Huang, Xiaochuan (Committee member) / Arizona State University (Publisher)
Created2017
ContributorsBritten, Benjamin, 1913-1976 (Composer)
ContributorsBritten, Benjamin, 1913-1976 (Composer)
ContributorsBritten, Benjamin, 1913-1976 (Composer)