This paper examines the Random Walk Hypothesis (RWH) for aggregate New Zealand share market returns, as well as the CRSP NYSE‐AMEX (USA) index during the 1980‐2001 period. Using…
Abstract
This paper examines the Random Walk Hypothesis (RWH) for aggregate New Zealand share market returns, as well as the CRSP NYSE‐AMEX (USA) index during the 1980‐2001 period. Using several indices, we rely on the variance‐ratio test and find evidence to support the rejection of the RWH with some evidence of a momentum effect. However, we find evidence to suggest the behaviour of share prices to be time‐dependent in New Zealand. For example, we find the indices tested were closer to random after the 1987 share market crash. Further analysis showed even stronger results for periods subsequent to the passage of the Companies Act 1993 and the Financial Reporting Act 1993. We also find evidence that indices based on large capitalisation stocks are more likely to follow a random walk compared to those based on smaller stocks. For the USA index, we find stronger evidence of random behaviour in our sample period compared to the earlier period examined by Lo and Mackinlay (1988)
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In this inevitably personal view, where I have taken documentation to embrace libraries and information centres, services and systems, I propose to stress Research rather than…
Abstract
In this inevitably personal view, where I have taken documentation to embrace libraries and information centres, services and systems, I propose to stress Research rather than Development—with one exception. Other authors will be considering the application of research results in operational systems of documentation but Herbert Coblans, as a librarian first, would have—and did—welcome the development of automated aid in the basic library processes—to this we shall return.
Sonja Gallhofer, Jim Haslam and Steven Cahan
This paper reviews Pacific Accounting Review, 1988–96. Against the background of an historical overview of the journal's development, the paper includes analyses of publications…
Abstract
This paper reviews Pacific Accounting Review, 1988–96. Against the background of an historical overview of the journal's development, the paper includes analyses of publications and citations in the journal. The paper looks forward to the future progress of Pacific Accounting Review.
Glenn Boyle, Michael Bradbury, Jill Hooks and Asheq Rahman
Edward Pryor and Son Ltd., the Sheffield‐based specialists in marking machines and equipment for a wide range of applications, has appointed John Tissiman as Managing Director.
With globalisation and the opening of China’s borders, there has been increasing business and government interaction between China and the US. Given US interest in China’s market…
Abstract
With globalisation and the opening of China’s borders, there has been increasing business and government interaction between China and the US. Given US interest in China’s market and the cultural distance between these two countries, it is imperative for US business persons not only to understand Chinese values, but also to examine how Chinese relate to US values. To this end, this study examines the attitudes of a sample of Chinese with regard to 10 US core values and compares their attitudes to those of a sample of US Americans. Despite some significant differences, the results of this study point out that the Chinese and US respondents exhibited many similarities in their attitudes.
Michael Bradbury and Jill Hooks
In 2012, Pacific Accounting Review (PAR) completed its 25th year of existence. This paper aims to review all articles published in PAR as a report on the “stewardship” of the…
Abstract
Purpose
In 2012, Pacific Accounting Review (PAR) completed its 25th year of existence. This paper aims to review all articles published in PAR as a report on the “stewardship” of the journal.
Design/methodology/approach
Research papers published in PAR are analysed by topic, research methodology, author and institutional affiliation. This approach follows prior reviews in PAR. A comparison is also made with PAR over the period 1988-1996 and Accounting and Finance over the period 1973-1999 and the “top accounting journals” over the period 1990-2007.
Findings
The analysis indicates that PAR publishes papers across a wide range of topics, but uses research methodologies that are consistent with mainstream accounting research (as undertaken by the “top accounting journals”). The authors of PAR are concentrated in New Zealand and Australia, as is the source data. No strong trends were perceived in the data. In conclusion, PAR can be characterised as a broadly based accounting and finance journal that is primarily competing in an Australasian context.
Practical implications
This review provides some insight as to how the journal has evolved and how the mission statement has been put into effect. The journal has maintained much of its original mission. The anticipated “dialogue between researchers and practitioners” has not developed, probably due to lack of sponsorship by the profession. The paper should also form a basis for informing how to further develop the journal.
Originality/value
The paper updates the last review of PAR which was completed in 1997.
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June Cao, Zijie Huang, Ari Budi Kristanto and Tom Scott
This literature review aims to portray the thematic landscape of the Pacific Accounting Review (PAR) from 2013 to 2023. This paper also synthesises the special issues in PAR and…
Abstract
Purpose
This literature review aims to portray the thematic landscape of the Pacific Accounting Review (PAR) from 2013 to 2023. This paper also synthesises the special issues in PAR and identifies the main research streams that facilitate contemplating the dialogic interactions between PAR and real-world challenges. Furthermore, this paper aligns these streams with the emerging concerns in Sustainable Development Goals (SDGs) and technological disruptions to propose impactful future directions for publications in PAR.
Design/methodology/approach
This review adopts bibliometric analysis to establish the main research streams and objective measures for directing future publications. This paper acquires the data of 310 PAR articles from the Web of Science and ensure the data integrity before the analysis. Based on this technique, this paper also analyses PAR’s productivity, authorship and local and global impacts.
Findings
Our bibliometric analysis reveals three key research streams: (1) ESG practices and disclosures, (2) informal institutions in accounting and (3) accounting in transition. This finding affirms PAR’s relevance to real-world accounting challenges. Using a thematic map, this paper portrays the current state of PAR’s topics to identify potential directions for future publications. Further, this paper proposes three future paths for PAR: (1) the research agenda for non-financial reporting, (2) research relating to and from diverse countries considering both formal and informal contemporary contextual factors and (3) the future of the evolving accounting profession.
Originality/value
This study adds value to the existing PAR reviews by extending our knowledge with the latest publications, demonstrating an objective and replicable approach, and offering future directions for PAR publications.
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This paper examines the effect that the introduction of the FRS 9, the general disclosure standard in New Zealand, has on the level of disclosure of certain unspecified operating…
Abstract
This paper examines the effect that the introduction of the FRS 9, the general disclosure standard in New Zealand, has on the level of disclosure of certain unspecified operating expenses. Generally, a low level of operating expense disclosure was found with no overall improvement recorded after the introduction of FRS 9. In many cases, companies did not disclose any unspecified operating expenses. Firm size and overseas listing/ownership appeared to be positively associated with the disclosure of unspecified operating expenses. Most companies did disclose the mandatory expenses monitored (depreciation, audit and directors' fees). Commentary is provided on the inadequacy of the discretionary aspects of accounting standards such as FRS 9, and the inadequacy of regulatory enforcement. Given the move to international harmonisation, and the level of disclosure seemingly at odds with international practice, the adoption and enforcement of International Accounting Standard 1 (IAS 1) would provide a simple solution.
British government approves data network After months of preparation by HM Treasury's Central Computer and Telecommunications Agency (CCTA), the first phase of the Government Data…
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British government approves data network After months of preparation by HM Treasury's Central Computer and Telecommunications Agency (CCTA), the first phase of the Government Data Network (GDN) has now been accepted. Trials of GDN took place in January, and it has now been implemented for daily use in 178 Customs and Excise locations throughout Britain. GDN is operated by Racal Data Networks.