Accounting comparability and the accuracy of peer-based valuation models

We examine the link between enhanced accounting comparability and the valuation performance of pricing multiples. Using the warranted multiple method proposed by Bhojraj and Lee (2002, Journal of Accounting Research) and controlling for economic comparability, we demonstrate how enhanced accounting comparability leads to better peer-based valuation performance. Empirical tests using firms from 15 EU countries over the period 1997-2011 (with comparable peers selected from the entire cross-section of foreign firms) document significant improvement in valuation performance measured as pricing accuracy, the ability of value estimates to explain cross-sectional variation in observed price, and the ability of the pricing multiple to predict future market-to-book multiples. Findings for a series of identification tests suggest that enhanced valuation performance is the consequence of improvements in the degree of crossborder accounting comparability that occurred during the sample window, and that a significant fraction of comparability gain operates through improved peer selection

Disclosure of provisions for decommissioning costs in annual reports of oil and gas companies: a content analysis and stakeholder views

This study examines the extent of compliance with accounting disclosure requirements relating to provisions for decommissioning costs by oil and gas companies. We also investigate the views of stakeholders on the reporting practices of these companies. Using a content analysis approach, our findings reveal that compliance is substantially high, but companies tend to take a tick-box approach providing only minimum disclosure requirements. In semi-structured interviews, we find that disclosure decisions were driven by concerns about the credibility of information due to complexities in the accounting processes, regulatory requirements, lack of information demand and proprietary costs. These findings have policy implications

Midlife managerial experience is linked to late life hippocampal morphology and function

An active cognitive lifestyle has been suggested to have a protective role in the long-term maintenance of cognition. Amongst healthy older adults, more managerial or supervisory experiences in midlife are linked to a slower hippocampal atrophy rate in late life. Yet whether similar links exist in individuals with Mild Cognitive Impairment (MCI) is not known, nor whether these differences have any functional implications. 68 volunteers from the Sydney SMART Trial, diagnosed with non-amnestic MCI, were divided into high and low managerial experience (HME/LME) during their working life. All participants underwent neuropsychological testing, structural and resting-state functional MRI. Group comparisons were performed on hippocampal volume, morphology, hippocampal seed-based functional connectivity, memory and executive function and self-ratings of memory proficiency. HME was linked to better memory function (p = 0.024), mediated by larger hippocampal volume (p = 0.025). More specifically, deformation analysis found HME had relatively more volume in the CA1 sub-region of the hippocampus (p  <  0.05). Paradoxically, this group rated their memory proficiency worse (p = 0.004), a result correlated with diminished functional connectivity between the right hippocampus and right prefrontal cortex (p  <  0.001). Finally, hierarchical regression modelling substantiated this double dissociation

Angel investor's selection criteria: a comparative institutional perspective

Despite the important role of angel investors as critical financial providers for new ventures, little is known regarding how institutions make their investment decisions. While angels make decisions based on selection criteria during the first stage, they are also embedded within and affected by different institutional settings and as a result weight these criteria differently than other investors. We compare angel investors' selection criteria in China and Denmark using the comparative institutional perspective. We use a policy capturing approach and hierarchy linear modeling, revealing that since Chinese angels are embedded within relationship-based institutional settings they tend to reply more on strong ties such as family and friends in management team, as well as weighting risks less compared to Danish angels operating within more rule-based institutional contexts

Akuntasi Keuangan Lanjutan, Ed. 7 Jil. 1

Bai

Akuntansi keuangan lanjutan. : V. 1.

JakartaV. 1.; xii, 443 p.; 25 cm

Akuntansi keuangan lanjutan, Ed. 7 jilid 2

Bai

Preventing and Countering Salafist Radicalisation in Bosnia and Herzegovina

Salafist mujahideen arrived in Bosnia and Herzegovina during the Bosnian War (1992-1995). The presence of mujahideen, coupled with the increased scrutiny on the Islamic World post-9/11, led to the narrative of Bosnia being primed for the proliferation of jihadi takfiri Salafi ideology. This prediction was supported by the existence of villages that adhered to shari’a law and parajamaats, parallel mosques, which operated outside of the control of the formal Bosnian Islamic Community (BIC). In the mid-2010s, Bosnian-born foreign fighters travelled to foreign theatres of conflict, mainly Syria and Iraq, to support and fight for terrorist groups, including ISIS. According to radicalisation theories often applied to European case studies, Bosniaks were expected to accept and proliferate Salafism. This assumption is based on Bosnia’s history of ethnic violence and trauma, socio-economic challenges, and a dramatic unpreparedness to counter the presence of foreign entities promoting the ideology domestically. However, as of 2016, the flow of Bosnian-born foreign fighters had halted, as has the presence of Salafist radicals willing to break the threshold of violence. This thesis proposes reasons why a vast majority Bosnian Muslims did not radicalise as expected by exploring the actions taken by civil society, the Bosnian Islamic Community, and the central government to combat Salafist radicalisation in Bosnia. The thesis evaluate how actions and policies were perceived and critiqued by those with localised knowledge and lived experience. This thesis uses an interpretive framework and employs insights from political anthropology and political ethnography, drawing on interviews to present a ‘from within’ analysis. The analysis of Bosnia's historical and cultural complexities and radicalisation literature reveal significant gaps regarding the interplay of the different segments of Bosnian society in countering and preventing Salafist radicalisation