The Effect Of SFAS 115 On Earnings Management In The Banking Industry

This paper presents an empirical investigation into the issue of earnings management in the Amer- ican banking system under SFAS 115. The study includes panel data on 88 bank holding compa- nies (BHCs) for the years 1997-2000 on a quarterly basis resulting in 1,408 observations. As hy- pothesized, it was found that the motivation of bank managers to engage in gains trading is nega- tively related to their earnings level before tax and securities net gains

Measuring The Implementation Fidelty Of Usa Hockey’s American Development Model

Critics of youth sports in the United States have lamented a system that creates issues of access and could be detrimental to the physical and mental health of its young participants. In response to these concerns, USA Hockey, using Long Term Athlete Development Theory (LTAD) as a key theoretical framework, created the American Development Model (ADM) to improve the delivery of youth hockey in the US. While USA Hockey has invested greatly in bringing ADM to scale across its constituents, it is not known to what extent the model is being implemented in its member organizations. Implementation fidelity of a prescribed treatment or curriculum is tied to better outcomes. This study leverages key concepts of program evaluation theory and survey development to produce a valid and reliable survey instrument that can be used to assess the implementation fidelity of ADM at the 12U age group across the nation. A survey instrument was developed through three waves of development. The first wave included local pilot testing and cognitive interviews. The second wave including a regional sample and utilized factor analysis coupled with item analysis to improve the instrument and to create composite scores of key constructs. The third and final wave included a national sample of 214 parents of 12U hockey players. The results of the survey produce psychometric properties indicating good reliability and validity of the instrument including face and content validity, internal reliability, and factor analysis. Analysis of composite scores for each construct of the model identified strong implementation of much of the on-ice components but was lacking in other areas such as physical development and mental skill development. The final ADM scale demonstrated statistically significant positive associations with two subscales of the Athlete Engagement Questionnaire, further validating the study and demonstrating an important association with the delivery model to key outcomes. The study concludes with a discussion of ADM’s implementation fidelity and policy recommendations regarding how the ADM curriculum may be improved given key findings

The Relationship Between Large Banks Investment In Available-For-Sale Securities And The Interest Rate Risk Of Their Securities

This study presents an empirical examination of the relationship between large banks’ investment in available-for-sale securities (AFS) and the interest rate risk of their securities. It concentrates on the years, 1997-2000, when interest rates were relatively stable and regulatory capital was not affected by the unrealized holding gains and losses on AFS securities under Statement of Financial Accounting Standards No. 115. The two main findings of the study, having controlled for the interest risk position of the bank (exclusive of securities effect) and other risk management and economic considerations, are: (1) AFS securities’ ratio (to securities or to total assets) is positively related to the interest rate risk of securities; (2)a change in the AFS securities ratio is positively related to the change in the interest rate risk of securities.  These findings may well prove to be significant to supervisors of banks considering they are in charge of monitoring the effect of fair value accounting regulations on the financial risk management in banks

Lost's Ending: the Junction of Time and Timeless Discourse

This text offers a questioning on the ending of Lost from a temporal and aesthetic angle. As it has been the source of many strong controversies, the conclusion of Lost gives us an opportunity to wonder about the way we watch the show. Through our deformulation theory, we shall analyze how fiction unravels before us while accomplishing the impossible junction of two antinomic temporal lines. The show sets up a strong connection with the TV viewer as it elaborates a final double-speech whose second listener is the TV viewer. Through a subtle and coherent final cut, the authors of Lost connect our experiences, the temporal lines, and the characters in a same goal: producing an emotional catharsis, whose scope tends to indefinitely engrave the fiction in the collective memory. Lost reminds us that the value of the ending also consists in having shared some affect with someone else, since Lost is a fiction about Lost characters who, during the last moments of the fiction, find themselves.Ce texte propose de s’interroger sur la fin de Lost sous un angle temporel et esthétique. Source de nombreux débats intenses, la conclusion de Lost nous offre une occasion de nous interroger sur notre manière de regarder la série. En nous appuyant sur notre théorie de la déformulation, nous analyserons la manière dont la fiction se défait sous nos yeux tout en réalisant l’impossible jonction de deux lignes temporelles antinomiques. La série établit un lien fort avec le téléspectateur en élaborant un double discours final dont le second destinataire est le téléspectateur. Par un montage final subtil et cohérent, les auteurs de Lost lient nos expériences, les lignes temporelles, les personnages dans un même but, provoquer une catharsis émotionnelle, dont la portée, tend à inscrire la fiction dans la mémoire collective de manière indéfinie. Lost nous réapprend que la fin a de la valeur dans la mesure où nous avons partagé des affects avec autrui. Parce que Lost est une fiction sur des personnages perdus qui, dans les derniers instants de la fiction, se trouvent

Custos de auditoria e governança corporativa

O serviço prestado pela auditoria independente é fundamental para uma maior transparência e confiabilidade dos relatórios financeiros das empresas de capital aberto. As possíveis ameaças à independência e qualidade das suas análises, os custos dos serviços e a relação com os mecanismos de governança corporativa são temas explorados internacionalmente. Esta pesquisa investiga o tema no ambiente brasileiro, possível a partir da Instrução CVM 480, que tornou obrigatória a divulgação dos valores dos serviços de auditoria e serviços extras contratados junto às empresas de auditoria independente. Com o objetivo de analisar a relação entre governança corporativa, custos de auditoria e de serviços extra-auditoria, foram analisadas as informações disponibilizadas por 131 empresas no primeiro semestre de 2010. As proxies de governança utilizadas foram: desvio de direitos dos cinco maiores acionistas, participação em segmentos diferenciados de governança da Bolsa de Mercadoria e Futuros & Bolsa de Valores de São Paulo (BM&FBovespa), existência de comitê de auditoria e de departamento de auditoria interna. Os resultados apontam para uma relação negativa entre governança e custos de auditoria, sugerindo que, no mercado brasileiro, predomina o efeito risco. Ou seja, melhores práticas de governança reduzem os riscos (judiciais e de perda da reputação) da auditoria externa permitindo a cobrança de valores menores. A literatura internacional não é unânime quanto ao sinal, embora a maioria dos estudos apresente uma relação positiva, a favor do efeito demanda. De acordo com este efeito, melhor governança implica em maiores exigências junto ao serviço da auditoria acarretando elevação dos valores cobrados. A relação encontrada também é negativa entre os valores dos serviços extras e as boas práticas de governança. Apesar de as pesquisas não comprovarem a influência destes custos sobre a perda da independência da auditoria externa, a limitação desta prática é uma tendência entre legisladores e reguladores

Examining What Variables Lead to Improved Outcomes for Club Sports Participants

Student affairs and campus recreation practitioners trumpet the values of cocurricular experiences and believe that they can have a deep impact on key learning outcomes for participants. This study surveys club sports participants at the University of Vermont to assess club sports participant satisfaction, belonging, and participations impact on key outcomes. The study affirms the reliability and validity of the survey instrument through strong internal consistency scores and factor analysis. It also positively affirms a positive relationship between key variables such as satisfaction and belonging to key outcomes. A final key finding of this study is the statistically significant effect of belonging scores on key outcomes. </jats:p

Chapitre six. Les multiples aspects de la fin

Approche terminologique Les débuts et les fins de séries sont les deux moments de la vie d’une série où les différentes interactions entre le temps de la production/diffusion, celui de la narration et le temps spectatoriel sont interconnectés d’une manière particulièrement forte. Autrement dit, les enjeux ne sont jamais aussi forts que dans le cadre du pilote et de l’épisode final. Nous devons préciser le langage employé autour de cette conclusion : par fin, il faut comprendre ici le moment d..

Conclusion. Des fins à la carte ?

Une situation sérielle Les séries télévisées sont des objets traversés par trois logiques temporelles qui permettent de penser la fiction. On ne peut mettre en place une œuvre sérielle sans avoir une conscience de ce phénomène au risque d’une grande déconvenue. C’est le même constat pour l’analyse. Une série ne peut pas être analysée sans une conscience aiguë de cette triple relation interdépendante. Si nous avions élaboré une analyse de Six Feet Under sans avoir connaissance du type de chaîn..