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Shareholder Concentration and Discretionary Accruals :
Evidence from an Emerging Market
-- Veer Singh Varma, Arvind Patel and Dharmendra Naidu
The paper investigates the impact of shareholder concentration on earnings
management. The data is obtained from the annual reports of companies listed
on the South Pacific Stock Exchange to empirically test for the
relationship between shareholder concentration and
absolute discretionary accruals. The results
suggest that companies with high shareholder concentration tend to support
managers' choice of accounting if it benefits the
companies.
© 2009 IUP. All Rights Reserved.
MERITUM and Danish Guidelines for Reporting on Intangibles : A Comparative Study
-- José Guimón
This paper presents and compares two of the most renowned guidelines---the Danish and the
MERITUM---on reporting of intangibles which have been developed in Europe in recent years. Both works propose a set
of recommendations on how to complement traditional financial statements with the publication of an
intellectual capital report disclosing additional information on
a firm's intangible resources and activities. The
study observes some differences between these two guidelines in their methodology and scope, the terminology
they use, and the way they classify actions and indicators. The
study, based on personal interviews, has important policy implications and recommendations for practitioners.
© 2009 IUP. All Rights Reserved.
Accounting Issues on the Measurement and
Bookkeeping of Research and Development Expenditures within the European Research Area
-- Dimitrios Ginoglou,
Panayiotis Tahinakis,
John Mylonakis,
Nicolaos Protogeros
and Adamantios Koumpis
Valuation of intangible assets, management and reporting related services are expected to play a significant role
in the proper functioning of the European Research Area (ERA), as well as the operation of the single market and
the sustainability of all aspects of the economy in Europe. Without readily available administrative, legislative,
financial or other public services, economic actorsboth at the corporate and state levelcannot fully utilize
the opportunities available in the information society. This paper evaluates the reporting methods and
performance measurements for the accounting of the intangibles (Research and Development (R&D)), analyzes the strengths
and weaknesses of each of these parameters, and establishes a framework for their application. The findings of the
study reveal that most forward thinking companies, as part of their strategic processes, are constantly examining
the appropriateness of their structures in achieving business excellencies.
© 2009 IUP. All Rights Reserved.
Effects of Inflation Accounting
on Financial Ratios : An Empirical Analysis of Non-Financial Firms
Listed on Istanbul Stock Exchange
-- Nalan Akdogan, Rafet Aktas and Seyfettin Unal
The study analyzes the effects of recently introduced
practice of inflation accounting in Turkey. Despite
a relatively long history of discussions on the subject, inflation accounting was adapted in
the Turkish accounting practice only recently. Therefore, this created an opportunity to examine the results of implementation and
to make meaningful comparisons between historical and inflation-adjusted financial statements of firms.
An analysis of t-test on the means of financial ratios
has been conducted on non-financial firms listed on
Istanbul Stock Exchange (ISE). The results reveal that a statistically significant change for
the whole sample occurs only on Total Assets
Turnover (TAT). Regarding the industry-specific outcomes, significant changes
are observed in non-metallic mineral products industry for
total assets turnover and debt ratio. On the whole, the study
provides useful insights from the industrial point of
view and carries important implications for firms from
different industries, as well as financial analysts.
© 2009 IUP. All Rights Reserved.
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