James Bentley and Zhangxin (Frank) Liu
The purpose of this study is to examine the impact of a recent innovation in the uranium market, the Global X Uranium Exchange-Traded Fund (URA), on the trading characteristics of…
Abstract
Purpose
The purpose of this study is to examine the impact of a recent innovation in the uranium market, the Global X Uranium Exchange-Traded Fund (URA), on the trading characteristics of constituent and non-constituent stocks.
Design/methodology/approach
The authors analyse bid-ask spread measures, relative effective spreads and adverse selection costs to assess changes in information asymmetry among uranium stocks. The authors also study abnormal returns to assess the impact of URA on the market.
Findings
Over a three-month period, following the introduction of URA, the authors find uranium stocks display decreased bid-ask spread measures, driven by reductions in information asymmetry. Relative effective spreads decrease by 36% after the introduction of URA, and adverse selection costs decline by 24% over the same period. Uranium stocks experience a significant positive abnormal return of 5.0% the day after the introduction of URA with subsequent price reversals. These suggest that the introduction of URA prompted uninformed traders to rebalance portfolios and migrate to the less information-sensitive Exchange-Traded Fund (ETF), causing temporary deviations in trading characteristics.
Originality/value
The authors demonstrate that the introduction of new financial securities to the market can have a significant impact on the trading characteristics of related equities. As URA is the only ETF in the uranium sector, the authors thereby avoid the influence of multiple ETFs that may have impacted previous studies.
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Alexandra L. Ferrentino, Meghan L. Maliga, Richard A. Bernardi and Susan M. Bosco
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in…
Abstract
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.
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Process is an ambivalent term. Its use in organizational research and theorizing is widespread. Yet, there are important subtle differences in how the term is understood and…
Abstract
Process is an ambivalent term. Its use in organizational research and theorizing is widespread. Yet, there are important subtle differences in how the term is understood and employed in the study of organizing/organization. In this chapter, we show that thinking in terms of ceaseless change, emergence and the immanent becoming of things, entities and events are central to a proper appreciation of what it means to truly understand process in genuinely processual terms. From this process philosophical perspective, social entities such as individuals and organizations are construed as temporarily stabilized event clusters abstracted from a sea of constant flux and change. Such an approach to the understanding of organizational phenomena draws its inspiration from a tradition of thinkers from Heraclitus to twentieth-century process philosophers such as William James, Henri Bergson and Alfred North Whitehead and beyond all of who, in one way or another, viewed reality in terms of ceaseless process, flux and transformation rather than as a stable world of unchanging entities. In what follows, we outline the key principles and axioms of process philosophy. We show that from a process philosophical outlook, primacy is accorded to becoming over being, difference over self-identity, and time and temporality over simple spatial location. We then examine the implications of process thinking for understanding organization as an ongoing ‘world-making’ phenomenon and show that the current interest in organizational sensemaking, organizational identity and entrepreneurial logic provides good illustrations of how and when process and emergence are taken seriously, our understanding of organizational situations can be vastly enriched.
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Abstract
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Bailey et al. (2001) queried accounting researchers concerning admitted fraudulent research practices, their beliefs about the prevalence of such practices among their peers, and…
Abstract
Bailey et al. (2001) queried accounting researchers concerning admitted fraudulent research practices, their beliefs about the prevalence of such practices among their peers, and their perceptions of the causal factors. They used a randomized response technique that assures anonymity, and it remains the only published study to ask these questions explicitly. Over the past two decades, publication pressures have increased, and accounting academia has experienced a shocking instance of fraud. The current study replicates Bailey et al. (2001) and extends the study by asking new questions about the adequacy of participants’ graduate training, the perceived attitudes and practices of mentors and coauthors, and whether their awareness and concern have evolved. Participants’ comments provide insights about the accounting research environment. Importantly, they indicate a lack of consensus about the legitimacy of research practices.
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Time‐to‐market is giving a competitive edge to many companies today. Some of the tools and methods to assist in this process were discussed at two recent conferences. Jack…
James Guthrie, Lee D Parker and John Dumay
– The purpose of this paper is to present a critique of published research access and peer review, considering their impacts on accounting scholarship.
Abstract
Purpose
The purpose of this paper is to present a critique of published research access and peer review, considering their impacts on accounting scholarship.
Design/methodology/approach
The paper is based on literature and publishing document review, experiential reflections and argument.
Findings
The authors reveal changes in publishing formats and accessibility, the challenges of managing research quality and significance and the challenges of avoiding constraint and foreclosure of significant new knowledge and its effective dissemination.
Research limitations/implications
This paper discusses the research and publishing community’s opening to new, flexible opportunities for knowledge creation and dissemination.
Originality/value
The discussion challenges the status quo of traditional academic journal publication and points to an innovative future.