618 results for Working or discussion paper, 2000

  • Option pricing in the real world: a generalized binomial model with applications to real options

    Arnold, Tom; Crack, Timothy (2000-08)

    Working or discussion paper
    University of Otago

    The full text of this document is only available from the Social Science Research Network. Please use the related link to access the full text.

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  • What can management accounting practitioners and academics do to improve risk measurement and forewarn of impending financial crises?

    Kumarasinghe, Sriya; Willett, Roger (2009)

    Working or discussion paper
    University of Otago

    We discuss some perceived shortcomings of management accounting in the light of the financial crisis of 2008. We describe current trends in management accounting thinking and Japanese perspectives on the discipline. Our main focus is on the lack of reliable measurement of financial risk and its consequences. The importance of collaborative multi-disciplinary research through partnerships between academics and practitioners is emphasised.

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  • Do accountants want full disclosures in corporate financial statements?

    Liyanarachchi, Gregory A. (2006)

    Working or discussion paper
    University of Otago

    In August 2002, in the aftermath of the corporate failures in the US (e.g., Enron and WorldCom) the New Zealand Institute of Chartered Accountants (NZICA formerly ICANZ) released a discussion document on ‘corporate transparency’, thereby signaling the importance of full disclosure to the accounting community (ICANZ, 2002). Full disclosure means the disclosure of all potentially material information even when there are no legal or accounting requirements to do so. This is necessary to achieve greater transparency of corporate financial statements. Simply meeting the minimum disclosure requirements of standards may be legally sufficient but may not achieve NZICA’s preferred goal of greater corporate transparency. Though it is the corporate management that has control over the level of transparency in corporate financial statements, accounting practitioners are called to express their opinion on these statements, and hence, they too have a major influence on the matter. A move towards achieving greater corporate transparency therefore raises an important question. Do accountants want to see greater disclosures in corporate financial statements?

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  • Pioneering advantage and product-country image: evidence from China

    Gao, Hongzhi; Knight, John G (2005)

    Working or discussion paper
    University of Otago

    A later version of this paper has been published in the Journal of Marketing Management.

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  • Inferring physical probability distributions from option prices

    Arnold, Tom; Crack, Timothy; Schwartz, Adam (2005-06-22)

    Working or discussion paper
    University of Otago

    The full text of this document is only available from the Social Science Research Network. Please use the related link to access the full text.

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  • From soothing palliatives and towards ecological literacy: a critique of the triple bottom line

    Milne, Markus J (2005-03)

    Working or discussion paper
    University of Otago

    The ‘triple bottom line’ (3BL), an idea attributed to and increasingly evangelized by John Elkington of the London-based consultancy, SustainAbility (Elkington, 1997; Wheeler & Elkington 2001), involves incorporating economic, environmental and social performance indicators into businesses’ management, measurement and reporting processes. The emergence and increasing take-up by business of the 3BL, however, seems to have created dangerous uncertainty as to what is required of organizations. At its narrowest, pursuing the 3BL involves measuring and reporting economic, environmental and social performance objectives that are pursued simultaneously. A broader view, however, suggests that the 3BL involves assessing an entity’s values, strategies and practices and how these can be utilized to achieve economic, environmental and social objectives (SustainAbility, 2003). The term also seems to be used increasingly as a synonym for “sustainability”. Many organizations seem to confuse narrow and often incomplete reporting practices with claims to be reporting on being sustainable, actually being sustainable, or more commonly, with claims to be moving towards sustainability. In view of such dangerous confusion, this paper critically examines the content of international business 3BL reporting and argues that while pursuing the 3BL may be a necessary condition for sustainability, it is unlikely to be a sufficient condition, and indeed may amount to little more than soothing palliatives, leading to greater levels of un-sustainability. We offer, therefore, some ways in which businesses may begin to get beyond their 3BL change-but-no-change rhetoric of sustainability and towards ecological literacy.

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  • The triple bottom line: how New Zealand companies measure up

    Chapman, Roslyn; Milne, Markus J (2003-12)

    Working or discussion paper
    University of Otago

    Subsequently published in Corporate Environmental Strategy: International Journal for Sustainable Business, Vol. 11, No. 2, pp. 37-50, 2004

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  • Accounting students’ information disclosure decisions: is there a need for changing the status quo on disclosure through accounting education?

    Theivananthampillai, Paul S; Liyanarachchi, Gregory A. (2005-03)

    Working or discussion paper
    University of Otago

    The disclosure of minimum information required by law and accounting standards appears to be the status quo on corporate disclosure. This brings into question the fairness of corporate financial statements. The paper reports experimental results that indicate when students have reasons to be concerned about what others may think of their decisions, they are willing to support corporate disclosure policies that include only the legally required minimum information and unwilling to support certain additional disclosures. Arguably, a major re-think of what constitutes an adequate level of disclosure is essential for changing the disclosure status quo. Accounting education has much potential for initiating such a re-think. To this end, the paper identifies the relevance of two measures. That is, students need to be encouraged (a) to recognise the importance of relative accuracy of accounting standards and (b) to recognise the relevance and importance of current debates on corporate disclosure and notions such as fairness when evaluating the adequacy of corporate disclosures.

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  • Valuing real options with implied binomial trees

    Arnold, Tom; Crack, Timothy; Schwartz, Adam (2004-10-21)

    Working or discussion paper
    University of Otago

    The full text of this document is only available from the Social Science Research Network. Please use the related link to access the full text.

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  • The Determinants of Career Success in the New Zealand Accountancy Profession

    Whiting, Rosalind H (2008-03)

    Working or discussion paper
    University of Otago

    Sixty-nine experienced New Zealand Chartered Accountants (CAs), displaying varying levels of family/work involvement were interviewed about their careers. The primary finding was that those with the least family responsibilities, irrespective of gender, were the most successful career-wise. Overall career success was enhanced by high career aspirations, long working hours and availability to clients, hard work, high technical competence and skills, networking, self-confidence, flexibility to relocate if required and large size and growth of the employing organisation. Most influential were career aspirations and a long hours/available work ethic, demonstrating the pervasiveness of the male linear career model. Career aspirations, desire for responsibility, perceived ability to handle pressure, long hours, availability to clients, networking and possibly technical skills (in cases of extended leave) were all influenced by the CA’s level of family responsibilities and not just gender alone

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  • The tyranny of transparent accounting: Corporate face and Levinasian ethics as a political critique of business practice

    Farnsworth, John; Lewis, Malcolm (2006)

    Working or discussion paper
    University of Otago

    We begin with the key idea, following Callon (2004) that data is a form of politics or political action. This we will argue enables us to see technologies as well as actors in organisations as involved in creating political activity. Our interest is in the way Levinas’s ethics allows us to articulate what otherwise remains silent: this opens enquiry into the engagement with the Other’s ineradicable alterity, to questions of justice and the third, and to the way that accounting practice persistently reduces the Other to the Same. To move from the politics of data to the ethics of accounting and business practice we draw together elements of actor network theory with Levinas’s thinking. We do this to show how data can speak its politics: in speaking, it revives the possibility of the uncontainable Saying over the fixed codification of the Said. We develop this argument by looking at how the seemingly transparent activities of accounting and audit practice as forms of codification conceal a form of domination that silences ethical engagement with the Other and the third. We link such practices to the larger economic system of financialisation in which contemporary accounting practice is embedded. Lastly, we take the case of Telecom New Zealand, a medium-sized international IT company, to point to the way it routinely deploys data, in forms such as the annual report, to obscure the politics in which it is engaged.

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  • Playing with magic lanterns: the New Zealand Business Council for Sustainable Development and corporate triple bottom line reporting

    Milne, Markus J (2005-03)

    Working or discussion paper
    University of Otago

    Within the last 4 years a coalition of leading New Zealand businesses has formed—The New Zealand Business Council for Sustainable Development (NZBCSD)—with the avowed intent of acting as a catalyst for change towards sustainable development via the three pillars of economic growth, environmental protection and social progress. The Council through its members intends to promote eco-efficiency, innovation and responsible entrepreneurship. As part of the Council’s agenda, Sustainable Development (or Triple Bottom Line) Reporting is being actively encouraged and promoted through its membership organisations. Members commit to producing such a report within 3 years. This study reports on both the attempts of the Council to interpret and portray sustainable development and its reporting, and on the attempts of several of its members to develop triple bottom line reports. The study critically examines the NZBCSD’s position on sustainable development (reporting) through its web-site announcements and several other documents in the context of an older and wider literature on sustainability. The study also critically examines eight members’ reports through a qualitative textual analysis. Overall, we find that while these reports manifestly use the rhetoric of “sustainability” and “sustainable development”, we detect little reporting beyond what has traditionally passed for corporate social responsibility.

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  • Understanding Quality in Qualitative Research in IS: A Practitioners Road Map

    Cua, Francis; Theivananthampillai, Paul (2006)

    Working or discussion paper
    University of Otago

    Qualitative Research has gained dominance again in research in information systems and technology. Understanding some of the terminology has often posed a hurdle for the practitioner. This paper draws out some of the key assumptions that qualitative research is based upon and distils some the subtle facets of qualitative research to build that bridge between practice and academia

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  • Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence

    Griffin, Paul A; Lont, David H; Sun, Yuan (2008)

    Working or discussion paper
    University of Otago

    This study examines the association between overseas and New Zealand governance regulatory reforms in New Zealand public companies’ audit and non-audit fees. We state audit and non-audit fee models, and use temporal and IFRS indicator variables to relate the timing of the fee changes with the incidence of the overseas and local governance reforms. We find that audit fees increased in New Zealand over 2002-2006. Such increases associate reliably with the transition to and adoption of NZ IFRS and not with the overseas governance reforms in the United States and Australia, enacted earlier. Our results also show a decrease in non-audit fees over the same period but we find no IFRS effect for non-audit fees. JEL Classification: C30, K22, L80, M40, M41.

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  • The academic job market in finance: a rookie’s guide

    Butler, Alexander; Crack, Timothy (2004-09-07)

    Working or discussion paper
    University of Otago

    The full text of this document is only available from the Social Science Research Network. Please use the related link to access the full text.

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  • Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence

    Griffin, Paul A; Lont, David H; Sun, Yuan (2008-12-31)

    Working or discussion paper
    University of Otago

    This study examines the association between overseas and New Zealand governance regulatory reforms in New Zealand public companies’ audit and non-audit fees. We state audit and non-audit fee models, and use temporal and IFRS indicator variables to relate the timing of the fee changes with the incidence of the overseas and local governance reforms. We find that audit fees increased in New Zealand over 2002-2006. Such increases associate reliably with the transition to and adoption of NZ IFRS and not with the overseas governance reforms in the United States and Australia, enacted earlier. Our results also show a decrease in non-audit fees over the same period but we find no IFRS effect for non-audit fees. JEL Classification: C30, K22, L80, M40, M41.

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  • Health Aid and Governance in Developing Countries

    Fielding, David (2008-11-01)

    Working or discussion paper
    University of Otago

    Despite anecdotal evidence that the quality of governance in recipient countries affects the allocation of international health aid, there is no quantitative evidence on the magnitude of this effect, or on which dimensions of governance influence donor decisions. We measure health aid flows over 2001-2005 for 87 aid recipients, matching aid data with measures of different dimensions of governance and a range of country-specific economic and health characteristics. Both corruption and political rights, but not civil rights, have a significant impact on aid. The sensitivity of aid to corruption might be explained by a perception that poor institutions make health aid inefficient. However, even when we allow for variations in the level of corruption, political rights still have a significant impact on aid allocation. This suggests that health aid is sometimes used as an incentive to reward political reforms, even though (as we find) such aid is not fungibile.

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  • The Determinants of Career Success in the New Zealand Accountancy Profession

    Whiting, Rosalind H (2008-03)

    Working or discussion paper
    University of Otago

    Sixty-nine experienced New Zealand Chartered Accountants (CAs), displaying varying levels of family/work involvement were interviewed about their careers. The primary finding was that those with the least family responsibilities, irrespective of gender, were the most successful career-wise. Overall career success was enhanced by high career aspirations, long working hours and availability to clients, hard work, high technical competence and skills, networking, self-confidence, flexibility to relocate if required and large size and growth of the employing organisation. Most influential were career aspirations and a long hours/available work ethic, demonstrating the pervasiveness of the male linear career model. Career aspirations, desire for responsibility, perceived ability to handle pressure, long hours, availability to clients, networking and possibly technical skills (in cases of extended leave) were all influenced by the CA’s level of family responsibilities and not just gender alone

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  • New Zealand Operating Expense Disclosure: The Impact of International Financial Reporting Standards on Early Adopters

    Balshaw, Vanessa; Lont, David H (2009-08-18)

    Working or discussion paper
    University of Otago

    Purpose – This purpose of this paper is to examine compliance with operating expense disclosure provisions contained in New Zealand approved accounting standards before and after the move to New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS). Prior research [Lont 2002] showed poor disclosure practices and we seek to determine if this has improved under international accounting standards for those who choose to adopt NZ IFRS prior to mandatory adoption. Design/methodology/approach – We use an empirical archival approach. While our sample size of early adopters is small, it does provide us with the unique ability to control for any temporal effects on disclosure practices. Findings – We find full compliance with operating expenses that are mandated such as depreciation, directors and auditor fees under both NZ Financial Reporting Standards (NZ FRS) and NZ IFRS. However, unspecified operating expense disclosures are still poor for those using NZ FRS. We also find a substantial improvement in unspecified disclosure levels for those companies using the New Zealand Equivalent to International Accounting Standard 1 (NZ IAS 1). However, our results also show areas of concern, for example, 14% of listed companies using NZ IAS 1 did not disclose any unspecified expense items and 27% of listed companies disclosed only one item. Practical Implications – Our results should be of relevance to preparers, analysts and regulators. Our preliminary results were provided to the New Zealand Securities Commission which led it to issuing a statement expressing concern with such behaviour. Originality/value – Adequate disclosure is considered a crucial element to help ensure efficient capital markets. The paper provides empirical insights into operating expense disclosure based on the requirements and wording contained within NZ FRS and NZ IFRS.

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  • Contract, Consideration and Consistency

    Sim, David (2009-07)

    Working or discussion paper
    University of Otago

    This article seeks to continue the debate on the proper role of consideration in the formation of executory contracts at common law. It first attempts to identity the place of consideration within the theoretical framework of contract by outlining the arguments that have been made regarding the possible functions of consideration and how they correspond with the broad theories of contract. Two possible functions of consideration are identified. The first is that consideration is an indicator of an exchange. The second is that consideration is evidence that a promise or promises were made with due deliberation and with an intention that the promise or promises would be legally binding. The article then compares these two possible functions with the application of the doctrine of consideration and concludes that the evidential function is the only possible function that is consistent with the application. It then concludes by arguing that if consideration has an evidential function, alternative forms of evidence should be accepted in substitution for consideration and that therefore consideration should not be an essential element of the formation of contract. It also argues that if consideration was seen in this way, most of the problems commonly associated with the doctrine would be resolved.

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