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Financial Accounts (financial + account)

Distribution by Scientific Domains

Humanities and Social Sciences	50%
Business, Economics, Finance and Accounting	50%

Selected Abstracts

The Race Towards Transparency: An Experimental Investigation

ECONOMIC NOTES, Issue 3 2002
Marco Rossi
To understand the current tendency toward transparency, we studied the effects of accounting disclosure in a laboratory. In our experiment, transparency in the financial accounts of the listed companies improved information efficiency; but, even after checking for fundamentals, the transparency increased the volatility of market prices. Moreover, transparency improved investors' utility, so that their preference for more certain assets emerged. Therefore, we argue that the current race toward transparency may be better explained by firms' and markets' intention to attract household investments rather than to improve market efficiency. (J.E.L.: G92, D44, D81, G12, G28). [source]

Sports and celebrations in English market towns, 1660,1750

HISTORICAL RESEARCH, Issue 188 2002
Emma Griffin
This article explores the recreational uses of streets and squares in the early modern market town. Late seventeenth-century financial accounts reveal civic authorities spending small sums on plebeian recreations,bonfires and bull-baitings,usually located in the market square. However, they also reveal a steady decline in municipal support for such recreations in the century following the Restoration. The author uses this evidence to argue that the early modern market place was an important communal space with a cultural significance as well as practical commercial value, and that the century following the Restoration saw the beginning of moves to clear plebeian sports and celebrations out of the public streets and confine the market place to traffic and trading. [source]

Bridging the GAAP: the Changing Attitude of German Managers towards Anglo-American Accounting and Accounting Harmonization

JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 1 2000
Martin Glaum
This paper presents and compares results from two empirical studies into the attitudes of financial executives of large German corporations towards a global harmonization of accounting principles and towards the adaptation of German accounting to Anglo-American Standards. The first of the studies was conducted in 1994, the second in late 1997, early 1998. A comparison of the results reveals that German managers' attitudes have changed profoundly over the course of only three years. In 1994, they objected to the view that German accounting is inferior to Anglo-American accounting; they had a negative attitude towards US accounting; and they were highly sceptical about adapting German accounting to Anglo-American accounting rules. Today, German managers openly concede that German financial accounts have a lower information value for investors and that the use of German accounting rules reduces the demand for German shares abroad. They are also more willing to accept far-reaching changes in the German accounting system. The survey shows that numerous large corporations have already adopted international standards, or are planning to do so in the near future. A further finding is that opinion among German managers and firms has shifted significantly towards accepting IAS rather than US-GAAP as the basis for the internationalization of German accounting. In fact, more than 80%of managers believe that five years from now the great majority of German firms will publish their consolidated financial accounts according to either IAS or US-GAAP. [source]

The effect of environmental information on investment allocation decisions , an experimental study

BUSINESS STRATEGY AND THE ENVIRONMENT, Issue 6 2008
Pall Rikhardsson
Abstract This paper focuses on the use of environmental information in investment decision making. The research approach employed is based on an experiment where three groups of final year finance students were asked to allocate investment funds between two companies based on financial accounts and information material from these companies in which environmental information was included in varying degrees. The overall conclusion is that the qualitative environmental information affects short term allocation decisions, hence indicating a risk reduction potential of environmental information comparable to the classic interpretation of financial information. The quantitative environmental information included in the experiment seems to mitigate rather than extend the directional effect of more environmental information. The evidence also seems to indicate that decision makers are not always aware which information categories affect their decision making. Hence, this has implications for how the potential value of environmental information is to be assessed. Finally, experimental studies as a methodology seem to be better suited to indicate actual effects of different types of information on decision making than attitude surveys. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment. [source]