The Effect of Team-Based Active Learning and Embedded Tutors in the First Course in Accounting

We evaluate the impact of teams-based active learning mode on student performance in the first course in accounting as compared to a traditional instructor-led passive mode. We find positive results for active learning mode, indicating its impact on the long-term knowledge retention. We also test the effect of embedded (in-class) peer-to-peer tutors in the active learning mode. The averages of all three exams of sections with embedded tutors are all significantly higher than those with no embedded tutors. When controlled for the time spent with traditional outside tutors, the role of the embedded tutors remains significant in Exam 1 and 2

An Improved Web Design to Support Online Investment Decisions

The rise of the Internet opens up new possibilities and creates new challenges for investors. The possibilities include ease of use, cheaper trading costs, and greatly improved access to information. The challenges include information overload and a temptation to overtrade. The present paper discusses how brokerage firms can improve their web site designs in order to meet these challenges and opportunities and to better facilitate the needs of individual investors. Specifically, the paper discusses how an objectoriented information representation system can be used to enable both investor-specific information, such as risktolerance level, investment time horizon, and tax status, and more general information from the financial markets themselves, such as company P/E levels, to be integrated into a consistent web presentation that will facilitate the investor’s making more intelligent investment decisions. Such an information representation system would be structured hierarchically, with the investor-specific information at the top of the hierarchy, driving the application of market-level, then industry-level, and, at the bottom of the hierarchy, company-specific information. Finally, the paper discusses the feasibility of implementing such a system and some of the promises and pitfalls that may arise from its implementation

Currency risk exposure of Chinese corporations

In spite of the rise of China and its currency, the currency risk of Chinese firms has not been studied adequately. In this paper we document for the first time that the stock returns of Chinese firms are significantly exposed to currency risks with many firms benefiting from the rise of the Yuan. Further, the magnitudes of the currency risk coefficients for Chinese companies (Corporate finance Foreign exchange Currency risk management Chinese firms Chinese currency

Insider Trading Around Stock Split Announcements

This research examines the trading behavior and motives of corporate insiders around announcements of firms' stock splits. Our empirical analyses document significant increases in insider sales prior to the announcement. Further, pre-announcement insider sales are found to be positively related to pre-announcement-period abnormal returns. These findings suggest that insider trading before stock split announcements is motivated mainly by portfolio diversification needs rather than by the information content of the announcements