1188 ŞŞUUBBAATT PPEERRŞŞEEMBBEE SSAAYYI II: : 774477 Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 1
Resmi Gazete YÜRÜTME VE İDARE BÖLÜMÜ BAKANLIĞA VEKÂLET ETME İŞLEMİ Devlet Bakanı Cevdet YILMAZ a, Devlet Bakanı Mehmet Zafer ÇAĞLAYAN ın Vekâlet Etmesine Dair Tezkere ATAMA KARARI 2010/43 Bangladeş Nezdinde Türkiye Cumhuriyeti Büyükelçisi Şakir Özkan TORUNLAR ın Merkeze Atanması Hakkında Karar YÖNETMELİKLER Türk Silahlı Kuvvetleri Taşınmaz Mal Yönetmeliğinin Yürürlükten Kaldırılmasına Dair Yönetmelik Kültür Bakanlığı Senfoni Orkestraları Solist Sanatçılarının Çalışma Usulleri Hakkında Yönetmelikte Değişiklik Yapılmasına Dair Yönetmelik Bahçeşehir Üniversitesi Önlisans ve Lisans Eğitim-Öğretim Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Bahçeşehir Üniversitesi Lisansüstü Eğitim ve Öğretim Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Yıldız Teknik Üniversitesi İnsan Kaynaklarını Geliştirme Merkezi Yönetmeliğinin Yürürlükten Kaldırılmasına Dair Yönetmelik Yıldız Teknik Üniversitesi Yıldız Sürekli Eğitim Uygulama ve Araştırma Merkezi Yönetmeliği TEBLİĞ İşkolu Tespit Kararı (No: 2010/7) Yabancı Süreli Yayınlar The International Journal of Accounting Volume 42, Issue 2, Pages 123-220 (2007) Attribute differences between U.S. GAAP and IFRS earnings: An exploratory study Pages 123-142 Sofie Van der Meulen, Ann Gaeremynck, Marleen Willekens Abstract In this study we explore attribute differences between U.S. GAAP and IFRS earnings. Our study is motivated by the ongoing harmonization process in accounting standard setting as well as by recent convergence projects by the FASB and the IASB. We test two market-based earnings attributes, i.e., value relevance and timeliness, as well as two accounting-based earnings attributes, i.e., predictability and accrual quality. These attributes are tested for German New Market firms as they are allowed to choose between IFRS and U.S. GAAP for financial reporting purposes. Overall, we find that U.S. GAAP and IFRS only differ with regard to predictive ability. The fact that U.S. GAAP accounting information outperforms IFRS also holds after controlling for differences in firm characteristics, such as size, leverage and the audit firm. However, our results also seem to suggest that these differences İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 2
are not fully valued by investors, as we do not observe significant and consistent differences for the value-relevance attribute. 2. Literature review and research questions 3. Model specification 3.1. Value relevance 3.2. Timeliness 3.3. Predictability 3.4. Accruals quality 4. Sample selection 5. Results 5.1. Descriptive statistics 5.2. Multivariate models 5.2.1. Value relevance 5.2.2. Timeliness 5.2.3. Predictability 5.2.4. Accrual quality 5.3. Robustness tests 6. Summary Acknowledgements Discussion of Attribute differences between U.S. GAAP and IFRS earnings: An exploratory study İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 3
Pages 143-147 Ole-Kristian Hope 2. Relation to literature 3. Use of R 2 as a test metric and the Cramer test 4. GAAP differences 5. The potential for differential enforcement 6. Differences in firm characteristics (other than auditor) 7. Conclusion Attribute differences between U.S. GAAP and IFRS earnings: An exploratory study Pages 148-152 Sofie Van der Meulen, Ann Gaeremynck, Marleen Willekens 2. Potential for differential enforcement 3. Use of the R 2 as a test metric and the Cramer test 4. GAAP differences and firm-level controls Stock performance and the mispricing of accruals Pages 153-170 Guohua Jiang Abstract İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 4
I investigate the relationship between contemporaneous stock-price performance and the persistence of accrued earnings, and its impact on the accrual anomaly. I find that, in a fiscal year, accrued earnings for stocks that have performed poorly are less persistent in predicting future earnings than accrued earnings for stocks that have performed moderately. I further find that a hedge-strategy based on accruals earns greater abnormal returns following bad-news years. The results are consistent with conservative accounting causing accrued earnings to be even less persistent in bad-news years and investors failing to efficiently price this differential in persistence. 2. Motivation 3. Data analysis 3.1. Variable measurement 3.2. Research design 3.3. Sample selection and descriptive statistics 3.4. Differences in the persistence of accruals among return-news groups 3.5. The Mishkin test 3.6. The hedge-portfolio analysis 3.7. Multivariate analysis of returns to accrual-based trading strategy 4. Conclusion An analysis of the adoption, perceived benefits, and expected future emphasis of western management accounting practices in Chinese SOEs and JVs Pages 171-185 Junjie Wu, Agyenim Boateng, Colin Drury Abstract İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 5
This paper considers the adoption, perceived benefits, and expected future emphasis of western management accounting practices in the Chinese emerging market economy based on a sample of 64 joint ventures (JVs) and 115 State Owned Enterprises (SOE) gathered from a questionnaire survey. The study finds that the level of adoption of management accounting practices is most influenced by ownership type of the enterprise (JV or SOE) and to a lesser extent by the nature of the management accounting techniques to be adopted. A further significant finding is that management accounting practices such as budgeting for controlling costs, profit and sales budgeting, and target costing are perceived to be more beneficial for SOEs compared to JVs. However, responsibility accounting which is traditionally associated with SOEs and accounting for decision making is perceived to be less beneficial to SOEs compared with JVs. 2. Literature review 2.1. Management accounting practices prior to economic reforms 2.2. Joint ventures and state owned enterprises 3. Methodology and sample characteristics 3.1. Sample characteristics 3.2. Statistical analysis 4. Results and discussion 4.1. Adoption of management accounting practices in JVs and SOEs 4.2. Benefits of management accounting practices: SOEs and JVs 4.3. Future emphasis of management accounting practices 5. Conclusion and future research directions Motives for fixed-asset revaluation: An empirical analysis with Swiss data Pages 186-205 Franck Missonier-Piera İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 6
Abstract This paper investigates the economic motives of fixed-asset revaluations of Swiss listed companies. We provide international insights on revaluation motives, particularly in a stakeholders' regime, over a period which is characterized by significant changes of the accounting standards relative to fixedassets valuation. We also test the impact of international stakeholders on the choice of whether to revalue assets. Results from pooled data show positive associations between revaluation and both the proportion of foreign sales and leverage, and a negative association with the investment opportunities. These findings suggest that revaluation is used as a device to improve creditors' and foreign stakeholders' perceptions of the financial health of the firm and thereby improve the firm's borrowing capacity. Cross-sectional results show that although leverage has declined over the periods investigated, interest rates have become lower for firms that revalue upward their fixed assets (compared to non-revaluers), emphasizing the debt-costs hypothesis. 2. Accounting for asset revaluation in Switzerland 3. Background and explanatory factors 3.1. Leverage 3.2. Ownership control status 3.3. International stakeholders 3.4. Investment opportunities 4. Research design 4.1. Sample selection 4.2. Variable measurement 5. Empirical results 5.1. Pooled-data analysis 5.2. Cross-sectional analysis 6. Conclusion İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 7
A discussion on Motives for fixed-asset revaluation: An empirical analysis with Swiss data Pages 206-209 Nikos Vafeas 2. Contribution of the paper 3. Research hypotheses and related results 4. Sampling and methods 5. Conclusions 6. Possible extensions Reply to discussion of Motives for fixed asset revaluation: An empirical analysis with Swiss data Pages 210-212 Franck Missonier-Piera 2. Research hypotheses and related results 3. Sampling and methods 4. Possible extensions İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 8