...Overview of Positive Accounting 2 Research Question 3 Theoretical Framework: 3 The Significance and Limitations of the Article: 4 Findings of Article 4 Conclusions 5 Bibliography 5 References 6 Introduction The main purpose of this report is to focus the positive accounting theory “Towards a Positive Theory of the Determination of Accounting Standards” and written by (Watts & Zimmerman, 1978) Ross L. Watts and Jerold L. Zimmerman, who indicated with a number of significant research in order to describe and contribute positive accounting theory Summary of the Article The element of this article has found that management wealth are based on accounting standards such as cost of production, (purchase, labour and overhead) taxes, political influence. All of these elements are effect in a different way on the management benefits. One of the main points of this article is that earning policy which means (decreasing profit or increasing profit) affects the company size, reputation of entities and certain standards. As a result of this development, management of the organization wealth will increase in a positive way. It is definitely clear to say that (Watts & Zimmerman, 1978) used solid data from the entities, which produce information to the FASB's Discussion Memorandum on General Price Level Adjustment. Findings of this report include to "choose accounting standards which report lower earnings due to political and regulatory considerations". Overview of...
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...Compliance Audit Report Public Version ExxonMobil Corporation-Baton Rouge NERC ID # NCR00128 Confidential Information (including Privileged and Critical Energy Infrastructure Information) – Has Been Removed Date of Audit: July 17-19, 2012 Date of Report: August 11, 2012 Confidential information (including Privileged and Critical Energy Infrastructure Information) – Has Been Removed TABLE OF CONTENTS Executive Summary ........................................................................................................ 3 Audit Process .................................................................................................................. 3 Objectives ................................................................................................................................................ 3 Scope ....................................................................................................................................................... 4 Confidentiality and Conflict of Interest ................................................................................................ 4 Methodology............................................................................................................................................ 4 Company Profile ..................................................................................................................................... 5 Audit Participants ...............................................
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...Peachtree’s progress. However, he is apprehensive about the future, as more and more of the firm’s customers are buying mutual funds rather than individual stocks and bonds. Thus, even though the number of customers per office has been increasing because of population growth, the number of transactions per customer has been decreasing, and hence sales growth has slackened. Taylor believes this trend will continue, so he has been actively expanding his product line in an effort to increase sales volume. As a first step, Peachtree began offering trust and portfolio management services five years ago. Many of the trust clients are retirees who are interested primarily in current income rather than capital gains. Thus, an average portfolio consists mostly of bonds and high yield stocks. The stock component is heavily weighted with electric utilities, an industry that has traditionally paid high dividends. For example, the average electric company’s dividend yield was about 6.3 percent in 1992, versus an average stock’s yield of 3.1 percent. Until 1993, Peachtree had no in- house security analysts –all stock and bond selections were based on research provided by subscription services. However, these services had become very costly, and the volume of portfolio management had reached the point where hiring an in- house analyst was now cost-effective. Because most of its portfolios were heavily weighted with electric utilities, Peachtree created its first analyst position to track this...
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...contemporaneous macroeconomic descriptors are replaced with reporting-period-lagged macroeconomic descriptors, in the Lagged Variable Beta Model, model explanatory power increases. Findings suggest that the lagged beta model is more likely to satisfy the ordinary least squares assumptions of serially independent error terms. INTRODUCTION Beta as a measure of priced risk is again under attack. Fama and French's [10,11] finding that the single index market model (SIMM) does not describe the last 50 years of average stock returns has been widely reported. Such a finding has widespread implications for corporate finance and investment management. Capital budgeting has frequently been based upon the belief that a higher return was required from projects with more volatile cash flows under the assumption that the volatile cash flows are at least partially dependent upon systematic factors. Firms which have based a portion of their appeal on the basis of their high beta and assumed higher rates of return may see an exodus of shareholders. Utility rate structures designed to give investors a return consistent with that required according to the capital asset pricing model will come into question. In a recent Journal of Financial and Strategic Decisions article, Burnie and Gunay [6] report their finding that there is a significant relationship between the returns of shares listed on the Toronto Stock...
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...Utility Management System Cost and Time Benefits and Implications from the Local Agency Perspective Downloaded from ascelibrary.org by Indian Inst of Technology - Mumbai (IITM) on 05/11/16. Copyright ASCE. For personal use only; all rights reserved. Mark Lee, P.E. 1; Jorge A. Rueda-Benavides 2; Douglas D. Gransberg, Ph.D., P.E., M.ASCE 3 Abstract: Utility management systems (UMSs) have become more common for government agencies, and their use has recently been advocated by AASHTO on a statewide basis. By identifying current utility locations and correlating utility-related information between ongoing and upcoming projects, UMSs can reduce the occurrence of unexpected delays and cost overruns resulting from unforeseen utility conflicts found during construction. This paper presents an analysis of a two-part survey of local agency professionals in the transportation industry, regarding perceptions of UMS cost and time benefits and implications associated with implementation. The paper evaluates two hypotheses regarding local agencies’ perception on two key areas: (1) impact of UMS cost and time implementation requirements on implementation decisions; and (2) difference in cost and time benefits and implications for different types of local agencies. The study finds that despite its obvious potential benefits, UMSs are not being widely implemented at the local level because the cost to adopt them is perceived to be high. Additionally, this study found opportunities...
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...What was the short term significance of the New Deal? To discuss the short term significance of the New Deal, it is imperative to define significance. Significance is defined by the number of people’s lives affected by an event; therefore the most significant of the short term effects of the New Deal was FDR’s implementation of radical legislative reforms. It led to a number of positive economic and social changes in a very short space of time, which contrasted greatly with the inaction of the previous Hoover regime. This opinion is supported by well-known New Deal historian Anthony Badger, who stated that "When Roosevelt took power on March 4, 1933; many influential Americans doubted the capacity of a democratic government to act decisively enough to save the country".The creation of public work schemes and relief programmes provided Americans with improved social stability giving them the confidence to support their government’s initiatives, thus enabling Roosevelt to restore elements of the pre-depression economy. Agriculture was also supported to create more jobs and allow business to grow again as opposed to declining as it had during the depression. These changes were all reinforced by the modernisation policies brought in by Roosevelt in the ‘100 days’. Page 1 Word Count: 291 Page 1 Word Count: 291 This cartoon was published in 1933 by the Pittsburgh Press by Harold Talburt. The use of this cartoon of Uncle Sam ‘holding all the Aces’ shows how the new policies of...
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...ElysiumaazSAA Z: A Proposed Medical Health Care & Research Facility An Institutional Eacility that Emphasize on Hospital & Research Facility A Thesis Proposal Presented to the College of Architecture Adamson University In Partial Fulfillment Of the Requirements of the Degree Bachelor of Science in Architecture By Hadrian Paul Nituma Lacaba MARCH 2016 ACKNOWLEDGEMENT This section is to give credit to academic staff in your department and in other departments, institutions, organizations or companies, funding bodies, and individuals (Past students, Family *, Friends *) who have been of help during the project, for instance by supporting it financially or by giving feedback on the text during its composition and revising stages. Acknowledgements contain the following elements: * Full name of all individuals who are being thanked. * A brief statement as to what kind of help the writer has received from each individual, group of people, scholarship, etc. colleague * If you wish to acknowledge the help of family members or friends make sure you restrict the wording of your thanks to a relatively formal register. ABSTRACT This section is limited to 100-150 words (approximately 12-15 lines), singly spaced and must include at least four (4) keywords. Provide a brief overview of the proposal that gives a reader a basic understanding of your proposal and encourages her or him to read more...
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...The aim of this report is to empirically analyze the relationship between interest rate, inflation, loan disbursed to textile sector, energy crises and yarn prices with textile sector growth in Pakistan during 2001 to 2011.Dependent variable is Textile sector growth Independent variables are Interest rate,, Inflation, Energy crisis, Price of cotton yarn and Loan disburses to textile sector. The aim of this report is to empirically analyze the relationship between interest rate, inflation, loan disbursed to textile sector, energy crises and yarn prices with textile sector growth in Pakistan during 2001 to 2011.Dependent variable is Textile sector growth Independent variables are Interest rate,, Inflation, Energy crisis, Price of cotton yarn and Loan disburses to textile sector. “Impact of Energy Crisis, Interest Rates and Inflation on Textile Sector of Pakistan” Term Report, Fall 2015 “Impact of Energy Crisis, Interest Rates and Inflation on Textile Sector of Pakistan” Term Report, Fall 2015 Submitted by: Zehra Hasan Zaidi, Sana Shamim,Hamza Nadeem, Abeer Salman Submitted by: Zehra Hasan Zaidi, Sana Shamim,Hamza Nadeem, Abeer Salman LETTER OF TRANSMITTAL 1st December 2015 The Course lecturer Analysis of Pakistani Industries Institute of Business Management Korangi Creek, Karachi. Dear Madam, SUBJECT: TERM REPORT We feel immense pleasure in presenting to your good self, the term report as part of our course requirement. We found this report to be truly challenging...
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...Introduction: Bangladesh is still a developing country but the tremendous growth prospect that this country has shown and still showing on for some time now signals the bright future that Bangladesh possesses. There are some industries and sectors which have provided the country with the phenomenal start and necessary speed that is required for an annual 6-7% growth over the past few years. Readymade garments industry is one of those sectors. After the emergence of Bangladesh, radical change has come to our garments sector. At present there are about 3000 garments industries in the country and 75 percent of them are in Dhaka. This industry has employed fifty lacks of people and 85 percent of them are illiterate rural women. About 76 percent of our export earning comes from this sector. The tremendous success of readymade garments exports from Bangladesh over the last two decades has surpassed the most optimistic expectations. Today the apparel export sector is a multi-billion-dollar manufacturing and export industry in the country. The overall impact of the readymade garments exports is certainly one of the most significant social and economic developments in contemporary Bangladesh. Azim Group of Bangladesh was one of the very pioneers of the garments sector in this country. The group itself was founded on 1975 although the readymade garments division of Azim Group started at 1982.That division was the third garments factory in Bangladesh and the first sweater and woven cloths...
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...ASSESSING GRADUATE EMPLOYMENT IN THE PRESENCE OF ENDOGENEITY AND SAMPLE SELECTION BIAS V1.2 Paul Blacklow* School of Economics and Finance, University of Tasmania, Private Bag 85, Hobart, TAS 7000 Paul.Blacklow@utas.edu.au *Presenting Author JEL Codes: I21, J23, C25 Keywords: Graduate Employment, Self Selection Bias, Sample Selection Bias Aaron Nicholas Department of Economics, Monash University, Wellington Road, Clayton, VIC 3800 Aaron.Nicholas@buseco.monash.edu.au ABSTRACT This paper examines the probability of a recent university graduate obtaining full-time employment by degree of study. It allows for degree choice to be endogenous (self-selection bias) and adjusts for those graduates not in the labour force who are not typically considered in graduate outcome studies (sample-selection bias). The self-selection problem is able to be identified by using a unique data set that combines data from the 2005 and 2006 Australian Graduate Destination Survey with data from the University of Tasmania’s (UTAS) student administration database, which includes students’ pre-tertiary school results. Degree choice is modelled using a Nested Logit, while labour force participation is modelled using a Probit. Using a ‘Heckit’ type methodology, the Inverse Mills Ratios (pseudo-residuals) from the Nested Logit and the modified Inverse Mills Ratios from the Probit are included in the final Probit model for Employment. Both correction terms are statistically significant at 5% in the employment...
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...World retail Banking report 2012 Contents 3 4 7 Preface Key Findings Chapter 1: 8 12 21 Unlocking Pathways to Greater Customer Loyalty Customers Express Conflicting Sentiments toward Banks The Need for a Customer Experience Index The Growth of Mobile Banking 25 Chapter 2: At a Crossroads, Retail Banks Must Identify and Prioritize Core Strengths The Ground Beneath Banks Is Shifting Traditional Tactics Are Less Effective in the Current Environment The Way Forward: Extreme Measures for Extreme Times 26 28 32 40 41 Methodology About Us Preface Capgemini and Efma are pleased to present the 2012 World Retail Banking Report. Retail banks around the world are struggling to maintain their competitiveness in the face of severe external challenges. Massive debt loads are threatening the global economy, while stringent regulations put in place as a result of the financial crisis of 2008 are staunching traditional revenue streams. Customers, still distrustful of the industry, have become increasingly accepting of nonbank alternatives, and social media is giving them an opportunity to publicly explore them. More than ever, retail banks must strive to create stronger bonds with their customers. The 2012 World Retail Banking Report addresses this imperative by establishing a new framework for identifying and measuring success in retail banking. Specifically, our Customer Experience Index (CEI) offers a mechanism for accurately taking stock of the critical...
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...------------------------------------------------- BUSINESS REPORT ON APPLICATION OF CLASSICAL AND HUMAN RESOURCES/ RELATIONS APPROACHES ON AUSTRALIA AND N EW ZEALAND BANKING GROUP LIMITED (ANZ BANK) WE LIVE IN YOU WORLD TABLE OF CONTENT Executive summary…………………………………………………………...………5 1. Introduction…………………………………….………………………….……...6 1.1 Purpose………………..……………………………………………………..…….6 1.2 Scope…………………………………………………………………..……..……6 1.3 Methodology…………………………………………………………..…………..6 1.4 Limitations…………………………………………………………..…………….7 1.5 Assumption…………………………………………………………..……………7 1.6 Background……………………………………………………………………..…7 2.0 Classical Approaches…………………………………………………....………...7 2.1Findings……………………………………………………………………….....…8 2.2 Discussions…………………………………………………………………….…8-9 3.0 Human relation approach…………………………………………………..….....10 3.1 Human resource approach……………………………………………….....…….10 3.2 Findings ..................................................................................................................10 3.3 Discussion...........................................................................................................10-11 4. Recommendations and Suggestions………………………………………………..12 5. Conclusion………………………………………………….……………………......13 List of figures..............................................................................................
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...School of Marketing Curtin Business School Consumer Acceptance and Response to SMS Advertising Kyle Jamieson This thesis is presented for the degree of the Master’s of Philosophy of Curtin University 1 March 2012 DECLARATION To the best of my knowledge and belief this thesis contains no material previously published by any other person except where due acknowledgement has been made. This thesis contains no material which has been accepted for the award of any other degree or diploma in any university. Signed 25/03/2011 2 ABSTRACT The rising market penetration of the mobile phone and rapid increase in wireless technology represent significant opportunities for advertisers to reach consumers. Mobile phone advertising has emerged as one of the fastest growing advertising mediums in recent times, and this rise is being led by Short Message Service (SMS) advertising. Despite the growing number of worldwide companies adopting SMS advertising, very little is understood about consumer reactions to this medium. In particular, little academic research has been conducted on consumers’ acceptance of this medium and their behavioural responses to advertising messages. In addition, researchers have thus far been unable to identify the impact of culture on acceptance and response to SMS advertising. This research aims to bridge the gap between academic knowledge and advertising practice by testing...
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...SELF-CONTROL, FINANCIAL LITERACY, AND THE FINANCIAL BEHAVIORS OF YOUNG ADULTS Dissertation Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State University By Jodi C. Letkiewicz, B.S., M.S. Graduate Program in Human Ecology ******* The Ohio State University 2012 Dissertation Committee: Dr. Jonathan Fox, Advisor Dr. Catherine P. Montalto Dr. Robert Scharff Dr. Caezilia Loibl Copyright by Jodi C. Letkiewicz 2012 ii ABSTRACT The objective of this paper is to determine whether financial literacy can moderate the effects that self-control has on financial outcomes. Financial literacy is an oft cited solution to the myriad financial complexities faced by consumers. If financial literacy is effective it should help consumers overcome issues of self-control to encourage more fiscally responsible behaviors. Both economic and psychological theories of self-control are explored, and a conceptual model using the Big Five personality trait of conscientiousness as a measure of self-control is utilized. Data for this study come from the 1997 National Longitudinal Survey of Youth (NLSY). Asset data in the study was collected in Rounds 9-13 when the respondents were 25 years old. The measure of conscientiousness was collected in Round 13 as part of the Ten-Item Personality Inventory...
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...ISSN 1836-8123 Hedging With Futures Contract: Estimation and Performance Evaluation of Optimal Hedge Ratios in the European Union Emissions Trading Scheme John Hua Fan, Eduardo Roca and Alexandr Akimov No. 2010-09 Series Editor: Dr. Alexandr Akimov Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s). Hedging With Futures Contract: Estimation and Performance Evaluation of Optimal Hedge Ratios in the European Union Emissions Trading Scheme John Hua Fan, Eduardo Roca and Alexandr Akimov Department of Accounting, Finance and Economics, Griffith University, Queensland, Australia 4111 Abstract Following the introduction of the European Union Emissions Trading Scheme, CO2 emissions have become a tradable commodity. As a regulated party, emitters are forced to take into account the additional carbon emissions costs in their production costs structure. Given the high volatility of carbon price, the importance of price risk management becomes unquestioned. This study is the first attempt to calculate hedge ratios and to investigate their hedging effectiveness in the EU-ETS carbon market by applying conventional and recently developed models of estimation. These hedge ratios are then compared with those derived for other markets. In spite of the uniqueness and novelty of the carbon market, the results of the study are consistent with those found in other markets...
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