...capital is managed by smaller firms in Canada.This includes the management of current assets and current liability accounts, as well as the working capital of the firm in aggregate. Research Methodology: They used a survey instrument that was used in three earlier comprehensive surveys (U.S. 1978, U.S. 1988, Australia 1989) of working capital practices. We ended up with 18 questons that are comparable across four surveys spanning two decades and three countries, wihich enables us to see how working capital practices have varied over time and across international bodies. Objectives: • To have better understanding on how working capital is managed by smaller firms in Canada. • To provide useful perspective for considering future research directions in working capital management through these comparison. Research design: The first comprehensive survey of working capital practices was conducted in 1978(Smith & Sell,1980). The survey instrument used consisted of 35 questions.From a sample of 653 of the largest U.S. industrial firms, 210 were usable, for 32.2% response rate. The survey was replicated a decade later in 1998(Belt & Smith, 1992). The survey instrument was expanded to 38nquestions and sent to a sample of 448 of the largest u.s. industrial firms.There were 105 usable responses,for a 23.4 % response rate.using the same instrument, the survey was replicated in Australia in 1989.The sample consisted of 144 of the largest Australian firms and there were 39 usable responses...
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...Abstract Purpose: The purpose of this report is to study the HR Policies and practices in Stock broking Firms in Investment financial Sector. Methodology: in this study, we intended to assess the HR policies and practices in stock broking companies. Primary data based on three stock broking firms and secondary data based on 10 research paper were analyzed to assess HR policies and practices by stock broking firms. For this study, many factors are consider for further analyzed like recruitment, selection, induction, learning & development, performance appraisal, career progression, rewards, employee recreation. The sample analysis analyzed is constituted of stock broking companies listed on the one of the stock exchange in India. Findings: In stock broking firms, they are used pre-define structure for recruitment and selection. They are also followed all the HR practices and policies which applicable in finance industry as well as other industry. Research limitation: This report is only focused on one sector (investment) and in investment sector only considered 3 stock broking firms for this study. Most of head of the HR manager were in Mumbai, so the collected of the data from subordinate HR managers or rather HR executives. Introduction: HRM contributes to organizational performance in different ways: through sound functional basics, through effective realignment when the external environment changes; and by building an organizational context to that the...
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...Combining Qualitative and Quantitative Methods In Environmental Accounting Research Evangeline Elijido-Ten Faculty of Business and Enterprise, Swinburne University of Technology Address for correspondence: Faculty of Business and Enterprise Swinburne University of Technology John Street, Hawthorn Victoria, Australia 3122 Phone: +61 3 9214 4471 Fax: +61 3 9819 2117 E-mail: eelijidoten@swin.edu.au 1 Combining Qualitative and Quantitative Methods In Environmental Accounting Research Abstract Purpose: To explore how the combination of quantitative and qualitative methods can enhance a study on the environmental reporting decisions made by Malaysian companies using the emergent stakeholder theory. Methodology/approach: The paper provides an illustration of how the descriptive, exploratory and explanatory type of research is entrenched with the objectives of the research and how the combination of quantitative (statistical regression and weighting/mean ranking) and qualitative (archival analysis, qualitative interviews) methods may enhance accounting research not only from results that corroborate. Findings: The three-fold objective of this study, corresponding to its three phases, illustrates that combining qualitative and quantitative methods involves considerations at each phase of the investigation. The research design shows that when the researcher work with different types of data within the same project, the way data is used varies according...
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...puzzle: UK evidence. The Journal of Risk Finance, 12 (4), 329- 338. This essay will summarise and critically review the report of Al-Najjar and Hussainey (2011) in which the effects of potential drivers of corporate capital structure are differing for three different definitions of capital structure. The article of Al-Najjar and Hussainey is a meaning but problematic piece of research. This essay aims to critically analyse the strengths and weaknesses of authors’ arguments and mainly focuses on the introduction, theoretical background, hypothesis, empirical tests, and result. Summary Al-Najjar and Hussainey found a capital structure puzzle which is involved with different definition of capital structure and determinants of corporate capital structure. They collected a sample data of 379 non-financial firms in the UK from 1991 to 2002, and investigated firms’ corporate characteristics (including firm growth rate, risk level, firm size, asset tangibility, and firm’s profitability) and corporate governance elements (including non-executive directors and board size) which are the potential drivers of UK firms’ capital structure. They utilised the fixed panel models and random effect Tobit models to analyse statistics. There are three definitions of capital structure: 1. Long-term debt to equity ratio = Total loan / (equity capital + reserves – total intangibles) 2. Debt to capital ratio = (Preference capital + total...
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...Practice and Firm Performance: An Empirical Assessment of Firms in Malaysia With the development of Economy around Malaysia develop fast, Malaysia found that many countries categorized as new power. In order to improve the economy in Malaysia like these countries, a research came out to analyze HRM in Malaysia( Osman et al.,2011). Osman et al.’s research aim to examine HR practices among firms in Malaysia by provide HRM history and current HR practices in Malaysia ,examine the trend of HRM practices among Malaysia firms and try to find out the relationship between HRM practices and firm performance in Malaysia. However, although the research is effective to help finding out the link between business and HRM, there are some limitations in this research. These limitation are identified in the definition of HRM, research design, result and result discussion. This paper will identify these limitations and analyze the disadvantages using in this research, then evaluate the limitations. The first limitation in this research is the definition of the HRM. As the research mentioned in the history of Malaysia and current HR practices in Malaysia, the author outlined the time when Malaysia organizations began to use human resource practices, how many HR practices were find, about 11,585,000 people were employed in 2009 and Malaysia suffered a 3% deficit in 2009 because of the world economic crisis( Osman et al.,2011). However, the definition of HRM are not clear, three parts of HRM...
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...Financial Accounting Theory Chapter 8 – Summary The Positive Theory of Accounting 1. Outline In the text, Scott defines Positive accounting theory (PAT) as: “concerned with predicting such actions as the choices of accounting policies by firms and how firms will respond to proposed new accounting standards.” (263) PAT uses theory to predict the choices that management will make regarding their choice of accounting policies. This theory is introduced as a way to merge efficient securities markets with economic consequences. PAT takes the view that firms will conduct themselves in the way that maximizes their own best interests. Managers do not always do what is best for shareholders, but what will be the most beneficial to their organization. The choices that an organization makes are dependant on what industry they are in, and the factors within that industry. An organization can be portrayed by the contracts it enters into. A firm’s contracts with employees, suppliers, lenders, and shareholders are central to its operations. The organization is inclined to keep these contract costs as low as possible. PAT emphasizes that an organization’s choice of accounting policies is motivated by keeping contract costs down. PAT does not propose that organizations completely identify what accounting policies they will use. Such specification is costly to commit to, and does not give management the opportunity to respond to unforeseen circumstances. ...
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...Financial Accounting Theory Chapter 8 – Summary The Positive Theory of Accounting 8.1 Outline In the text, Scott defines Positive accounting theory (PAT) as: “concerned with predicting such actions as the choices of accounting policies by firms and how firms will respond to proposed new accounting standards.” (263) PAT uses theory to predict the choices that management will make regarding their choice of accounting policies. This theory is introduced as a way to merge efficient securities markets with economic consequences. PAT takes the view that firms will conduct themselves in the way that maximizes their own best interests. Managers do not always do what is best for shareholders, but what will be the most beneficial to their organization. The choices that an organization makes are dependant on what industry they are in, and the factors within that industry. An organization can be portrayed by the contracts it enters into. A firm’s contracts with employees, suppliers, lenders, and shareholders are central to its operations. The organization is inclined to keep these contract costs as low as possible. PAT emphasizes that an organization’s choice of accounting policies is motivated by keeping contract costs down. PAT does not propose that organizations completely identify what accounting policies they will use. Such specification is costly to commit to, and does not give management the opportunity to respond to unforeseen circumstances. Managers...
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...of a national center to facilitate auditing firms’ and other market participants’ sharing of fraud prevention and detection experiences, practices, and data and innovation in fraud prevention and detection methodologies and technologies, and commission research and other fact-finding regarding fraud prevention and detection, and further, the development of best practices regarding fraud prevention and detection. a. Discuss three arguments in favor of the recommendation. Choose the three that you think provide the strongest arguments supporting the recommendation. “Auditor’s need greater obligation to act when there is reasonable suspicion of fraud” This first argument is my opinion entirely valid because when a professional has a higher set standard requirement there is more commitment to act actively to execute his/her duty due to the consequences of not actually exercising professional skepticism. Therefore, an auditor would have to have a higher reasonable assurance to give an unqualified opinion, and he/she would be less tempted to overlook material misstatements and frauds. “It enhances the competitiveness of United States capital markets.” This argument has one of the strongest support for the recommendation because the share of existing cases, evidence, and studies will provide the different market participants the ability to access information from different perspectives, other than research done by the big four firms. In addition, auditors will have a center of...
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...Ethical Research Guidelines Dwayne Clemons RES/351 October 12, 2015 Univerisity of Phoenix Ethical Research Guidelines Gillai, Porteous, Rammohan, and Lee (2013) aim to link the relationship between responsible supply chain procedure and performance. Numerous multinational firms face the challenge of poor employment standards, environmental protection, and health and safety standards despite companies’ continued investment in audits, supply chains, and other practices to help tackle the problems. The article researches the most effective responsible supply chain practices that will aid in alleviating these issues. Furthermore, it elaborates on three key categories of reliable supply chain procedures. The first is management systems where leadership, guidelines, and policies are the foundations of a viable supply chain. The second category is visibility techniques that assist firms to find problems in the supply chain by giving data on supplier performance and practices. Lastly, it is response practice whereby actions are taken to respond or prevent potential issues from growing into major complications. The research findings show a clear link between certain social and environmental responsibility practices and improved social, operational and environmental performance (Gillai, Porteous, Rammohan, & Lee, 2013). However, some practices had an indirect relationship or no correlation with...
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...Business Research Report Compensation Strategy Presented to: Assessment Code: RWT1 Table of Contents Executive Summary 3 Introduction 4 Research Findings 4 Finding Number 1 4 Finding Number 2 5 Finding Number 3 5 Recommendations 6 Conclusion 7 References 8 Executive Summary This report provides an analysis and evaluation of three different compensation strategies for potential implementation into our firm. Performance based, skill based, and piece rate pay plans are defined and analyzed. The focus of the topics included in the analysis includes employee retention, recruitment, morale, and productivity The performance based compensation considered is individual and team based bonus programs. This seems to be the most common form of incentive based compensation and has shown to be effective in many cases. This is also a relatively easy strategy to implement. Skill based pay is a strategy that puts emphasis on developing employees into skilled workers, as well as recruiting skilled workers. Employees are paid based on their skills rather than on the job that they fill. Its goal is to garner a quality producing team. This strategy is a bit more difficult to enact as the technical skills required in our industry are ever changing. Piece rate pay is a pay structure that offers a set amount of compensation per item produced. It has been shown to dramatically increase production while simultaneously...
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...RELATIONSHIPS BETWEEN HUMAN RESOURCE MANAGEMENT PRACTICES, BUSINESS STRATEGY FIT AND FIRM PERFORMANCE Oya Erdil & Ay e Günsel Gebze Institute of Technology, Turkey ABSTRACT While there has been growing interest concerning the relationship between human resource (HR) practices, firm strategy and firm performance, limited research attention has been paid providing empirical evidence in support of them. This study investigates the relationships between HR practices, human resources management (HRM) - firm strategy fit and the firm performance of 63 small and medium sized firms located around Kocaeli and Gebze from both theoretical and empirical perspective. The findings indicate a strong relationship between different HR practices and HRM-firm strategy fit and firm performance. Further, the results provide support for the assertion that HR-firm strategy fit can significantly assist a firm in improving performance. Therefore, empirical support is obtained for the efforts at aligning HRM practices with firm strategy and firm performance. (recruitment, development, etc.) share the same basic character and play a similar kind of role in relation to strategic management (Luoma, 2000: 771). Effective HRM strategy systematically organizes all individual HRM measures to directly influence employee attitude and behavior in a way that leads business to achieve its competitive strategy. (Huang, 2001: 134). In view of the fact that the goals and necessities of each of the competitive...
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...Assignment 1 -by guo chen 1. Name the three principal financial statements and describe what they represent. Three principal financial statements are balance sheet, income statement and statement of cash flows. Balance sheet contains Assets, liabilities, and shareholders’ equity. Assets =Liabilities + Shareholders’ Equity Balance sheet views resources from two perspectives: a list of the specific resources the firm holds and a list of the persons or entities that provided the funds to finance the business and therefore have claims on the assets Income statement provides information about profitability of a firm for a period time. It is a way to measure operating performance. Statement of cash flows reports for a period of time the net cash flows from three principal business activities: operating, investing, and financing. It is a good method to measure the firm’s strategy. 2. List and briefly describe the six interrelated steps to financial statement analysis. 1). Identify the economic characteristics and competitive dynamics of the industry in which a particular firm participates. (find out what forces drive competition in the industry) 2). Identify the strategies the firm pursues to gain and sustain a competitive advantage ( find out what model the firm uses that keep them different and successful) 3). Assess the quality of the firm’s financial statements and, if necessary, adjust them for such desirable characteristics...
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...mainly in the area of applied ethics and at the same time, it is also a part of business ethics as well as human ethics. It is worth pointing out that the kind of work that is always carried out by the auditors, as well as the accountants generally needs very huge ethics levels (Stolowy and Breton, 2000). The shareholders of the firms, the potential shareholders, as well as the other people who use the financial statements that are prepared by the accountants generally depend on the annual financial statements of the firms given that they are capable of using the information in making highly informed decisions concerning investments. At the same time, they depend on the accountants’ opinion and the verification of the financial statements by the auditors in order to make sure that the financial statements are giving a true, as well as a fair view of the firm (Weidmann and Lenzen, 2006). It is worth pointing out that the knowledge of ethics is capable of helping the accountants, as well as the auditors to overcome various kinds of ethical dilemmas, and this generally ensures that the correct choice is made though it might not be of benefit to the firm. However, it just benefits the public relying on the reporting by the accountants or the auditors (Rabin, 2005). It should be noted that the main aim of financial accounting ethics is making sure that the certified public accountants carry out their duties in a manner that is highly objective and also with utmost integrity (Needles...
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...The Positive Theory of Accounting Outline In the text, Scott defines Positive accounting theory (PAT) as: “concerned with predicting such actions as the choices of accounting policies by firms and how firms will respond to proposed new accounting standards.” (263) PAT uses theory to predict the choices that management will make regarding their choice of accounting policies. This theory is introduced as a way to merge efficient securities markets with economic consequences. PAT takes the view that firms will conduct themselves in the way that maximizes their own best interests. Managers do not always do what is best for shareholders, but what will be the most beneficial to their organization. The choices that an organization makes are dependent on what industry they are in, and the factors within that industry An organization can be portrayed by the contracts it enters into. A firm’s contracts with employees, suppliers, lenders, and shareholders are central to its operations. The organization is inclined to keep these contract costs as low as possible. PAT emphasizes that an organization’s choice of accounting policies is motivated by keeping contract costs down. PAT does not propose that organizations completely identify what accounting policies they will use. Such specification is costly to commit to, and does not give management the opportunity to respond to unforeseen circumstances. Managers have flexibility to choose from a set of accounting policies, and...
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...http://www.eurojournals.com/EJEFAS.htm Relevance of Income Levels and Income Components for Determining Firm Value Hashem Valipour Assistant Professor, Accounting Department, Firouzabad Branch Islamic Azad University, Firouzabad, Iran Tel: 00989173086986 E-mail: h.valipour@gmail.com Alireza Shahabi Accounting Department, Marvdasht Branch Islamic Azad University, Marvdasht, Iran E-mail: arshahaby@gmail.com Javad Moradi Assistant Professor, Accounting Department, Marvdasht Branch Islamic Azad University, Marvdasht, Iran E-mail: jmoradi2005@yahoo.com Abstract Income levels and its components which are presented in income statement, are the first criteria for assessing financial operation, users are quite interested in this criterion. So investigating the effect of this attraction on firm value is important. The present paper studies this matter. Statistical population is listed companies in Tehran Stock Exchange (TSE). Based on considered preconditions 49 companies selected over 1999 to 2008 and classified into three groups based on their size, small, medium and large. Regression has used for analyzing data. Findings indicate that income level and components prepare relevant information for users. Other findings show that considering firm size has negligible impact on value relevance of income level and components. Keywords: Income Statement, Relevant, Firm Value, Firm Size, Income Component. 1. Introduction Market value relevance means that there is a statistical association...
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