James Juichia Lin, Edward M. Werner and Ya-Chi Huang
This chapter investigates how market competition relates to firm corporate social responsibility (CSR) investment strategy. Using separate measures to capture different dimensions…
Abstract
This chapter investigates how market competition relates to firm corporate social responsibility (CSR) investment strategy. Using separate measures to capture different dimensions of competition, we find that firms are likely to invest more (less) in socially responsible initiatives when competition from existing rivals (potential entrants) is high. We also find that industry leaders are more likely to engage in more CSR when higher levels of competition exist, while followers primarily choose to strengthen other aspects of their competitiveness instead. Finally, analyzing the impact of CEO overconfidence on CSR engagement, our study finds novel evidence suggesting that firms with overconfident CEOs tend to underestimate the intensity of competition and are less sensitive to the impact of market competition on CSR engagement, relative to rational CEOs.
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Hubert Glover and Edward M. Werner
This paper provides a useful template for integrating the teaching of International Financial Reporting Standards (IFRS) into the accounting curriculum.
Abstract
Purpose
This paper provides a useful template for integrating the teaching of International Financial Reporting Standards (IFRS) into the accounting curriculum.
Methodology/approach
We document the evolution of the dedicated IFRS course taught at Drexel University, sharing our department’s experiences teaching it at both the undergraduate and graduate levels.
Findings
We identify instructional delivery options for teaching IFRS either as an independent course or as a supplement to an existing financial reporting, advanced accounting, or special topics course. We discuss the different approaches we have used to deliver such material and present our recommendations for best practices.
Practical implications
Recent surveys note that academia’s slow integration of IFRS into the classroom does not match the expectations of many accounting practitioners, particularly those with an international presence. With more than 100 countries around the world, including most of the emerging and major economies such as China, Brazil, and Germany, having already adopted IFRS, accounting firms expect job candidates to be conversant with international accounting standards and to be appropriately prepared in anticipation of an SEC decision to adopt IFRS.
Originality/value
This paper provides academics who intend to begin teaching IFRS with the essential information they need to keep their students current with global accounting trends.
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The purpose of this paper is to examine, in the context of movement towards a fair‐value based pension accounting standard, the value relevance of both recognized and disclosed…
Abstract
Purpose
The purpose of this paper is to examine, in the context of movement towards a fair‐value based pension accounting standard, the value relevance of both recognized and disclosed pension accounting information.
Design/methodology/approach
Using hand‐collected data from Fortune 200 firms, this study includes both recognized and disclosed pension accounting measures (aggregated and disaggregated) in multivariate regression models. The investigation employs tests of relative and incremental value relevance in both equity and credit rating evaluation contexts.
Findings
Findings indicate that pension information recognized under a fair‐value‐based accounting model is no more or less value relevant than pension information recognized under the SFAS 87 model. Also, the disclosed off‐balance sheet pension amount is incrementally value relevant for determining share prices. However, it is not value relevant for the credit rating decision.
Research limitations/implications
This study tests the relevance and reliability of accounting information jointly. Theoretically, however, relevance and reliability affect information usefulness and, thus, valuation decisions independently.
Originality/value
This paper yields a number of significant implications for standard setters. The unique evidence that investors apply off‐balance sheet pension amounts in the equity valuation context implies that required recognition under a fair‐value standard may not provide a significant incremental benefit over DB plan disclosures. However, such a standard may yield potential improvements in the credit rating decision context and may be much more likely to impact credit rating decisions going forward. Considering the continued shift towards fair‐value‐based pension accounting standards internationally, recognizing transitory elements of fair‐value pension cost separately from operating income is essential for mitigating any potential loss in value relevance.
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Cathy Beaudoin, Nandini Chandar and Edward M. Werner
The purpose of this paper is to examine whether the significant clustering of defined benefit (DB) pension plan freeze announcements during 2001‐2006 is motivated at least in part…
Abstract
Purpose
The purpose of this paper is to examine whether the significant clustering of defined benefit (DB) pension plan freeze announcements during 2001‐2006 is motivated at least in part by accounting concerns due to the Financial Accounting Standards Board's pending adoption of Statement of Financial Accounting Standards No. 158 (SFAS 158).
Design/methodology/approach
Using logistic regression models, the paper compares 147 “freeze firms” with a matched sample of firms that did not announce a DB plan freeze. Empirical models control for other DB plan motives including as a response to stricter contribution requirements under the Pension Protection Act of 2006 and improving the firm's competitive position.
Findings
The potential SFAS 158 impact is significantly associated with firms' decisions to freeze their DB plans. Firm profitability is also significantly associated with the freeze decision. However, there is no significant association between cash flow positions or pension plan contributions and the freeze decision.
Research limitations/implications
It is possible that economic conditions adversely affecting the funded status of DB plans also motivate the freeze decision. While this study controls for the economic environment, economic factors could exacerbate the potential effect of SFAS 158.
Originality/value
This paper considers potential effects of accounting policy by examining its influence on real management actions and has consequences for a variety of stakeholders including investors, creditors, and, importantly, pension beneficiaries and workers, as DB plans represent implicit contracts between firms and their employees.
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Sara L. Cochran and Donald F. Kuratko
The world is changing very rapidly with events that alter the landscape for students during a time when entrepreneurs are needed more than ever. This chapter explores trends in…
Abstract
The world is changing very rapidly with events that alter the landscape for students during a time when entrepreneurs are needed more than ever. This chapter explores trends in entrepreneurship research that are focused in areas of the entrepreneurial mindset, alleviation of poverty through entrepreneurship, social entrepreneurship, portfolio thinking about entrepreneurial venture types, the crucial nature of racial diversity, and the drive of women entrepreneurs. It also examines COVID-19’s disparate impact on smaller ventures and Black entrepreneurs, while highlighting its impact on spurring entrepreneurial innovations causing an entrepreneurial explosion. Most importantly, this chapter focuses on how the emerging research trends amidst the COVID-19 pandemic have prompted entrepreneurship educators to enact educational innovations. The chapter includes tools and tips to integrate into the changing nature of university programs and entrepreneurship curriculums facing a dynamic future.
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THE first of the Islington Public Libraries, opened on September 21st, has proved a phenomenal success, and, at the same time, has thrown an interesting light on several modern…
Abstract
THE first of the Islington Public Libraries, opened on September 21st, has proved a phenomenal success, and, at the same time, has thrown an interesting light on several modern theories in librarianship. It is, as our readers know, the fust of a system of five libraries, towards the erection of which Dr. Carnegie has given £40,000. The building itself is, as many librarians had an opportunity of judging at the “private view” described in our last number, of an exceedingly well‐lighted and attractive character. The arrangement and accommodation provided present several novel features. On the ground floor, opening from the Central Hall, is the Children's Lending Library and Reading Room. This is stocked with about 3,000 volumes for lending purposes, including French and German juvenile literature, and the reading room portion has seating accommodation for about a hundred children. A representative selection of children's magazines are displayed here, and there are special study‐tables for girls and boys equipped with suitable reference collections. A feature of this room is a striking dado of pictures illustrating scenes from English history, which goes far to make the room interesting and attractive.
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…
Abstract
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
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University reforms have been pervasive in European higher education over decades. Analyses of these reforms are still incomplete, however. To find a more comprehensive approach in…
Abstract
University reforms have been pervasive in European higher education over decades. Analyses of these reforms are still incomplete, however. To find a more comprehensive approach in explaining the relentless transformation of public universities, this paper suggests a novel, interactionist point of view. Drawing on ideational aspects of universities as institutions, the paper first explores the differentiation of basic, influential ideas of change. A recently developed typology is then used to further elaborate upon the composition and relation of these ideas. Finally, evidence is provided that supports a non-linear dynamic consisting of reciprocal influences, which overall indicates a recursive contingency between institutional context and coexistent frames of change.