Search results for "ACCOUNTING"

Evaluating the Change Process for Business Risk Auditing: Legitimacy Experiences of non-Big 4 Auditors

2017

SUMMARY The business risk auditing (BRA) approach was developed in the late 1990s and partly incorporated into audit standards in the early 2000s. As such, BRA was a significant innovation in audit methodology. In our interview study, we examine the experiences of 38 non-Big 4 auditors toward the theorization and diffusion of BRA. We use the widely recognized framework from Greenwood, Suddaby, and Hinings (2002), emphasizing the importance of legitimacy within an organizational field, to evaluate the change process toward BRA. First, we observe that the theorization of the new concept of BRA was often of limited success as many non-Big 4 auditors found it to be too complex and remained unco…

The devil is in the details : Capital stock estimation and aggregate productivity growth : an application to the Spanish economy

2020

The variables that contribute to explaining the major puzzles and paradoxes in macroeconomics and economic growth literature always appear related, directly or indirectly, to capital stock and depreciation. Depreciation defined in a narrow sense refers only to physical wear and tear, but in a broader sense, it also includes economic deterioration and obsolescence. In this study, we explore the link between these two depreciation concepts, the capital deepening and total factor productivity (TFP) growth. We propose a double growth accounting framework that allows us to establish a relationship between variables in statistical terms and variables in economic terms. Then, with Spanish data for…

A Spatiotemporal Solution for the Simultaneous Sale Price and Time-on-the-Market Problem

2015

There exists an important methodological challenge when dealing with sale price and time-on-the-market variables because both variables are simultaneously determined and related to the motivation of the sellers and buyers. Exploiting the fact that transactions occur over space and time, we propose a two-stage approach based on instrumental variables (IV) built from information collected from previous transactions. The unidirectional temporal property and the fact that other transactions are exogenous from the perspective of a single buyer or seller are exploited to evaluate the effect of the sale price on time-on-the-market, and the effect of time-on-the-market on the sale price. Based on 2…

Green Versus Radical Right as the New Political Divide? The European Parliament Election 2019 in Germany

2020

COVID‐19 and tourism: What can we learn from the past?

2020

Abstract The impact of the COVID‐19 crisis on tourism flows is without precedent in terms of speed and severity. In this paper, we try to infer a possible future scenario for the tourism sector, evaluating the medium‐term effects of past pandemics on tourist arrivals. We find that pandemics lead to a persistent decline in tourist arrivals, with the effects being larger in developing and emerging countries. Interestingly, the effects are heterogeneous across countries and episodes, and depend on several economic conditions such as the overall health system performance, the severity of the shock, and the uncertainty induced by the pandemic event.

Foreign Direct Investment Spillovers: Evidence from the British Retail Sector

2011

This paper discusses the impact of foreign-ownership presence on the productivity performance of British-owned domestic retailers. In particular, we analyse the existence of productivity spillovers, in the form of knowledge transfer, by using establishment-level data from the Annual Respondents Database over the period 1997–2003. The results confirm the presence of such spillovers and highlight their positive and significant impact on the productivity of domestic firms, although these spillovers are mostly confined to the region in which foreign subsidiaries locate. There is also evidence that the productivity benefit from regional foreign direct investment spillovers increases with the abs…

Impacto del riesgo de interés sobre las acciones del sector bancario español

2009

RESUMENEste trabajo examina la exposicion del sector bancario espanol al riesgo de interes en el ambito de la metodologia GARCH, prestando atencion no solo al impacto de los cambios en el nivel de los tipos de interes sino tambien al efecto de su volatilidad sobre la distribucion de los rendimientos de las acciones bancarias. Los resultados obtenidos muestran que tanto las variaciones como la volatilidad de los tipos de interes tienen un impacto negativo y significativo sobre el rendimiento de las acciones de las entidades financieras, existiendo una relacion directa entre el tamano de las entidades y su grado de sensibilidad ante los movimientos y volatilidad de los tipos de interes.

Global connectivity between commodity prices and national stock markets: A time‐varying MIDAS analysis

2021

Modelización temporal de los ratios contables en la detección del fracaso empresarial de la PYME española

2009

La incompatibilidad de algunos valores de los ratios con situaciones desahogadas de la empresa les confiere cierto caracter de control sobre la solvencia empresarial. Por ello, tiene sentido plantearse cual de esos ratios es mas rapido en la deteccion del fracaso empresarial. En este trabajo incorporamos el tiempo como variable fundamental en la deteccion del fracaso empresarial. Para ello se modeliza probabilisticamente el comportamiento de un sistema de control, que pretende ser efi - ciente a traves de una distribucion de probabilidad para la variable aleatoria «momento real de ocurrencia del hecho controlado por el sistema», deduciendo un modelo exponencial acotado superiormente que, ap…

La relevancia del fondo de comercio y su amortización en el mercado de capitales: Una perspectiva europea

2007

RESUMENEl objetivo principal de este trabajo es investigar la relevancia valorativa del fondo de comercio y su amortizacion con el fin de ofrecer argumentos acerca de lo adecuado de la nueva politica de no amortizacion. El analisis se basa en el modelo de Ohlson [1995] y emplea no solamente un modelo de precios, sino tambien un modelo de rentabilidades. La informacion utilizada se ha extraido de la base de datos Extel Company Analysis y se refiere a empresas no financieras que cotizaban en bolsa en siete paises de la Union Europea en el periodo 1997–2001. Los resultados proporcionan evidencia sobre la relevancia del fondo de comercio, asi como sobre la no relevancia de su amortizacion y son…