In his seminal paper, Bruno de Finetti (1957) laid the foundations of what would become an increasingly popular branch of risk theory: the study of dividend strategies. The recent burst of research in this field encouraged the author to carry out a systematic literature review of modern collective risk theory with dividend strategies. This paper aims at a taxonomical synthesis of the 50 years of research that followed de Finetti's original paper.
布鲁诺•德•菲内蒂(Bruno de Finetti, 1957)在其开创性的论文中，为日后日益流行的风险理论分支——股息策略研究——奠定了基础。近年来该领域研究的兴起促使笔者对具有股利策略的现代集体风险理论进行了系统的文献综述。这篇论文的目的是对de Finetti原始论文之后50年的研究进行分类学综合。
{"title":"A Review of Modern Collective Risk Theory with Dividend Strategies","authors":"Benjamin Avanzi","doi":"10.2139/ssrn.1242691","DOIUrl":"https://doi.org/10.2139/ssrn.1242691","url":null,"abstract":"In his seminal paper, Bruno de Finetti (1957) laid the foundations of what would become an increasingly popular branch of risk theory: the study of dividend strategies. The recent burst of research in this field encouraged the author to carry out a systematic literature review of modern collective risk theory with dividend strategies. This paper aims at a taxonomical synthesis of the 50 years of research that followed de Finetti's original paper.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"61 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123496655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The objective of this report is to assist those undertaking an accounting oral history project for the first time by reporting on two recent oral history projects. While restricting discussion to the 'nuts and bolts' of undertaking recording oral history interviews, this is provided in sufficient detail, with reflection on past experiences, to benefit a researcher starting their first project.
{"title":"Is it Turned on Now? - Reflections on Undertaking Oral History in Accounting","authors":"R. Baskerville","doi":"10.2139/SSRN.1188878","DOIUrl":"https://doi.org/10.2139/SSRN.1188878","url":null,"abstract":"The objective of this report is to assist those undertaking an accounting oral history project for the first time by reporting on two recent oral history projects. While restricting discussion to the 'nuts and bolts' of undertaking recording oral history interviews, this is provided in sufficient detail, with reflection on past experiences, to benefit a researcher starting their first project.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130453745","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This case highlights the weaknesses of the accrual basis of accounting which provides the theoretical foundations for both the U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS), in light of recent revelations by several high profile instances of fraudulent financial reporting. While accounting theory is often addressed in an accounting doctoral seminar limited to some high priests only, the implications of accrual-deferral accounting are much more profound and beguiling. It projects an aura of objectivity and scientific precision in measurement that are sorely missing in modern accounting practice. Fortunately or perhaps not so fortunately most people (99%) do not understand the degrees of managerial discretion allowed by both the GAAP and the IFRS in preparing financial statements. While the proponents of the the very strong form of efficient market hypothesis (EMH) contend that an efficient market can see through and peep through any potential foul play managers, individual investors are well advised to look at these financial statements with an appropriate degree of skepticism. Financial statements are not prepared for the man on the Clapham omnibus to take a pleasure reading ride. It is an artful handicraft of the accountants, by the accountants, and for the accountants to interpret only! Naive investors might be up for surprises if they are in a self-help mode.
{"title":"Doing God's Work?","authors":"Ehsan H. Feroz","doi":"10.2139/SSRN.1157527","DOIUrl":"https://doi.org/10.2139/SSRN.1157527","url":null,"abstract":"This case highlights the weaknesses of the accrual basis of accounting which provides the theoretical foundations for both the U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS), in light of recent revelations by several high profile instances of fraudulent financial reporting. While accounting theory is often addressed in an accounting doctoral seminar limited to some high priests only, the implications of accrual-deferral accounting are much more profound and beguiling. It projects an aura of objectivity and scientific precision in measurement that are sorely missing in modern accounting practice. Fortunately or perhaps not so fortunately most people (99%) do not understand the degrees of managerial discretion allowed by both the GAAP and the IFRS in preparing financial statements. While the proponents of the the very strong form of efficient market hypothesis (EMH) contend that an efficient market can see through and peep through any potential foul play managers, individual investors are well advised to look at these financial statements with an appropriate degree of skepticism. Financial statements are not prepared for the man on the Clapham omnibus to take a pleasure reading ride. It is an artful handicraft of the accountants, by the accountants, and for the accountants to interpret only! Naive investors might be up for surprises if they are in a self-help mode.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134078332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-04-14DOI: 10.1111/j.1911-3846.1994.tb00442.x
L. Brown, Ronald J. Huefner
Determining familiarity with and evaluating quality of accounting journals are of interest to various parties in accounting academia. In recent years, the number of accounting journals has grown, and many special-interest subgroups have arisen. A study surveys senior faculty at Business Week's best 40 MBA programs to determine their familiarity with and quality perceptions of 44 accounting journals. As to familiarity, 5 journals were nearly universally known, and a total of 15 had wide recognition. Financial, managerial, and auditing faculty exhibited similar familiarity patterns, while tax faculty had a somewhat different pattern. As to quality perceptions, relatively few journals achieved high quality evaluations. There was, however, general consensus across the different subject area faculty as to the top journals. Special consideration was given to the new (post-1980) journals. Six of the 19 newer journals in the study achieved high familiarity scores, and 3 achieved high quality evaluations.
{"title":"The Familiarity with and Perceived Quality of Accounting Journals: Views of Senior Accounting Faculty in Leading U. S. MBA Programs","authors":"L. Brown, Ronald J. Huefner","doi":"10.1111/j.1911-3846.1994.tb00442.x","DOIUrl":"https://doi.org/10.1111/j.1911-3846.1994.tb00442.x","url":null,"abstract":"Determining familiarity with and evaluating quality of accounting journals are of interest to various parties in accounting academia. In recent years, the number of accounting journals has grown, and many special-interest subgroups have arisen. A study surveys senior faculty at Business Week's best 40 MBA programs to determine their familiarity with and quality perceptions of 44 accounting journals. As to familiarity, 5 journals were nearly universally known, and a total of 15 had wide recognition. Financial, managerial, and auditing faculty exhibited similar familiarity patterns, while tax faculty had a somewhat different pattern. As to quality perceptions, relatively few journals achieved high quality evaluations. There was, however, general consensus across the different subject area faculty as to the top journals. Special consideration was given to the new (post-1980) journals. Six of the 19 newer journals in the study achieved high familiarity scores, and 3 achieved high quality evaluations.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128535768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-04-02DOI: 10.2308/JMAR.2008.20.S-1.107
A. Richardson
ABSTRACT: Organizational strategies, processes, and procedures may become institutionalized during the early history of an organization, leading to dysfunctional rigidities when the environment changes. The postal system worldwide is under significant pressure to change its business model, including rescinding the provision of universal service and uniform pricing, as the posts are privatized and opened to competition. Cost accounting has become a key mechanism to achieve reform in the postal system. But is the introduction of a cost‐based logic new to the design of post office reforms? Were the core policies of the post office originally developed without reference to cost? This paper analyzes the key document in the creation of the current postal business model: Rowland Hill's (1837) “Post Office Reform: Its Importance and Practicability.” The pamphlet shows a basic understanding of economic concepts including the elasticity of demand and opportunity costs as well as implementing practical accounting te...
{"title":"Organizational Founding, Strategic Renewal and the Role of Accounting: Management Accounting Concepts in the Formation of the 'Penny Post'","authors":"A. Richardson","doi":"10.2308/JMAR.2008.20.S-1.107","DOIUrl":"https://doi.org/10.2308/JMAR.2008.20.S-1.107","url":null,"abstract":"ABSTRACT: Organizational strategies, processes, and procedures may become institutionalized during the early history of an organization, leading to dysfunctional rigidities when the environment changes. The postal system worldwide is under significant pressure to change its business model, including rescinding the provision of universal service and uniform pricing, as the posts are privatized and opened to competition. Cost accounting has become a key mechanism to achieve reform in the postal system. But is the introduction of a cost‐based logic new to the design of post office reforms? Were the core policies of the post office originally developed without reference to cost? This paper analyzes the key document in the creation of the current postal business model: Rowland Hill's (1837) “Post Office Reform: Its Importance and Practicability.” The pamphlet shows a basic understanding of economic concepts including the elasticity of demand and opportunity costs as well as implementing practical accounting te...","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128712332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research explores how an oral history can inform our understanding of accounting partnership income allocation models. Forty oral history interviews of CPA firm partners indicated a widespread impact from unclear and instable role definitions in performance-based compensation arrangements. The oral history interviews suggested partnerships adopted performance-based compensation systems without consideration of the extent to which the success of such systems depended on stable role specificity. This research has implications for corporations where the interests of the entity may be best served when top management undertake diverse or previously unspecified roles and activities, on an ad-hoc or opportunistic basis.
{"title":"Performance-Based Compensation: How an Oral History Can Inform Our Understanding of Accounting Partnership Income Allocation Models","authors":"R. Baskerville, J. Beechey","doi":"10.2139/ssrn.1213902","DOIUrl":"https://doi.org/10.2139/ssrn.1213902","url":null,"abstract":"This research explores how an oral history can inform our understanding of accounting partnership income allocation models. Forty oral history interviews of CPA firm partners indicated a widespread impact from unclear and instable role definitions in performance-based compensation arrangements. The oral history interviews suggested partnerships adopted performance-based compensation systems without consideration of the extent to which the success of such systems depended on stable role specificity. This research has implications for corporations where the interests of the entity may be best served when top management undertake diverse or previously unspecified roles and activities, on an ad-hoc or opportunistic basis.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"96 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131652277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We compare the size and structure of the public sectors of Canada and the United States from 1929 to 2004 using national accounting and employment data. The challenge of defining the public sector for comparative purposes is explored and illustrated, especially with respect to the treatment of non-profits, and a number of intriguing similarities and differences in the comparative evolution of the public sectors are identified that remain to be explained. Use of a new Fisher-type government deflator for Canada indicates that, as of 2003, real government spending relative to real income was about 27 percent of Gross Domestic Product (GDP) in both countries.
{"title":"Just How Much Bigger is Government in Canada? A Comparative Analysis of the Size and Structure of the Public Sectors in Canada and the United States, 1929-2004","authors":"J. Ferris, S. Winer","doi":"10.2139/ssrn.949033","DOIUrl":"https://doi.org/10.2139/ssrn.949033","url":null,"abstract":"We compare the size and structure of the public sectors of Canada and the United States from 1929 to 2004 using national accounting and employment data. The challenge of defining the public sector for comparative purposes is explored and illustrated, especially with respect to the treatment of non-profits, and a number of intriguing similarities and differences in the comparative evolution of the public sectors are identified that remain to be explained. Use of a new Fisher-type government deflator for Canada indicates that, as of 2003, real government spending relative to real income was about 27 percent of Gross Domestic Product (GDP) in both countries.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130723396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article is part one of a two part series that explores the difficulties that accountancy professional bodies have in attempting to find standard workable definitions of consolidation in the face of the use and abuse of special purpose vehicles. The questions of legitimacy and legality of corporate form are examined in light of recent history of accountancy reform. The authors propose an "anti-sham principle" to help coordinate and effect a benchmark across disperse views on the legitimacy of manipulative valuation and off-balance sheet structures.
{"title":"Sham Spes, Part I: The Legal Issues of International Accounting Standards on the Consolidation of Special Purpose Entities","authors":"D. Gololobov, Joseph Tanega","doi":"10.2139/SSRN.2706253","DOIUrl":"https://doi.org/10.2139/SSRN.2706253","url":null,"abstract":"The article is part one of a two part series that explores the difficulties that accountancy professional bodies have in attempting to find standard workable definitions of consolidation in the face of the use and abuse of special purpose vehicles. The questions of legitimacy and legality of corporate form are examined in light of recent history of accountancy reform. The authors propose an \"anti-sham principle\" to help coordinate and effect a benchmark across disperse views on the legitimacy of manipulative valuation and off-balance sheet structures.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"122 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116391671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The decision-usefulness theory of accounting – the theory currently generally accepted by those interested in accounting theory – is under-appreciated. According to Hatfield’s three criteria – lineage, company, and service to society – decision-usefulness theory is highly respectable. Its base was laid by the creators of double-entry bookkeeping. It was developed a half century ago and has attracted a world-wide following among those concerned with the betterment of accounting. It serves with honor in accounting research and standards setting and has great potential in accounting education. Whether the enmity of those in the financial statement preparation community should be counted as a badge of honor or a demerit is a personal choice. Despite such impressive lineage, high-class company, and valuable service, the decision-usefulness theory of accounting “don’t get no respect.” They gotta quit kicking my dog around.
{"title":"They Gotta Quit Kicking My Dog Around, II","authors":"George J. Staubus","doi":"10.2139/ssrn.1733266","DOIUrl":"https://doi.org/10.2139/ssrn.1733266","url":null,"abstract":"The decision-usefulness theory of accounting – the theory currently generally accepted by those interested in accounting theory – is under-appreciated. According to Hatfield’s three criteria – lineage, company, and service to society – decision-usefulness theory is highly respectable. Its base was laid by the creators of double-entry bookkeeping. It was developed a half century ago and has attracted a world-wide following among those concerned with the betterment of accounting. It serves with honor in accounting research and standards setting and has great potential in accounting education. Whether the enmity of those in the financial statement preparation community should be counted as a badge of honor or a demerit is a personal choice. Despite such impressive lineage, high-class company, and valuable service, the decision-usefulness theory of accounting “don’t get no respect.” They gotta quit kicking my dog around.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"402 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116682597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper reflects on the lack of focus on history characterizing the strategic management field. Reasons and consequences of such a peculiar situation need to be pointed out in order to develop a better history-grounded research approach inside the field. In terms of (the missing) history of thought, a fear of history seems to characterize the field, for a more aware historical understanding of strategic management and practices is likely to question not only notions and concepts, but the very perception of the field as a practically oriented discipline. A lack of historical reflection is usually preferred, wherein strategic management seems to come out of the blue, ignoring its inner evolution over time, and the relationships with previous bodies of knowledge in the business realm, such as for instance administrative sciences and accounting. In terms of the history of practice the situation is - if possible - even worse, with an obscure understanding of contexts and features of managerial practices in the past. Archival research is called for here, drawing on two research projects on pre-industrial revolution context (the Spanish Royal Tobacco Factory in the XVIII century, and the Venice Arsenal in the turn of the XVI century), in order to examine how prior management practices can influence and inform our present understanding of the discipline of strategic management. A less simplistic view of managing practices in the past emerges, which challenges the commonly held cycle of innovation and discontinuity perpetually alleged in the strategic management field to legitimize its own existence as a research area. While strategic management tools show a potential contribution to historical understanding in this archival research, a more historically aware understanding of the evolution of the field is thus intended as a way to falsify strategic management theory.
{"title":"Future Directions from the Past - Management and Accounting Discourse in Historical Perspective","authors":"Luca Zan","doi":"10.2139/ssrn.1591932","DOIUrl":"https://doi.org/10.2139/ssrn.1591932","url":null,"abstract":"This paper reflects on the lack of focus on history characterizing the strategic management field. Reasons and consequences of such a peculiar situation need to be pointed out in order to develop a better history-grounded research approach inside the field. In terms of (the missing) history of thought, a fear of history seems to characterize the field, for a more aware historical understanding of strategic management and practices is likely to question not only notions and concepts, but the very perception of the field as a practically oriented discipline. A lack of historical reflection is usually preferred, wherein strategic management seems to come out of the blue, ignoring its inner evolution over time, and the relationships with previous bodies of knowledge in the business realm, such as for instance administrative sciences and accounting. In terms of the history of practice the situation is - if possible - even worse, with an obscure understanding of contexts and features of managerial practices in the past. Archival research is called for here, drawing on two research projects on pre-industrial revolution context (the Spanish Royal Tobacco Factory in the XVIII century, and the Venice Arsenal in the turn of the XVI century), in order to examine how prior management practices can influence and inform our present understanding of the discipline of strategic management. A less simplistic view of managing practices in the past emerges, which challenges the commonly held cycle of innovation and discontinuity perpetually alleged in the strategic management field to legitimize its own existence as a research area. While strategic management tools show a potential contribution to historical understanding in this archival research, a more historically aware understanding of the evolution of the field is thus intended as a way to falsify strategic management theory.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121786354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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