The top management team is important to understand as the executives within the top management team would have long-term implications for a firm's investment, operating and financing decisions which would affect the firm value. As these executives may have pre-existing connections outside the current firm, they are likely to be affected by these connections within the top management team. In this dissertation, I draw upon the literature in sociology that discusses different mechanisms of connections; 1) better information transfer, 2) cohesion and better coordination, and 3) favorable treatment to see how the connections within the top management team affects different decisions for the firm using data from 1999 to 2013. First, I find that the executives with connections to the CEO are less likely to be forced out and those with social connections to the CEO enjoy less sensitivity of involuntary turnover to performance. Notably, I find that this is consistent with CEOs favorably treating the connected executives rather than CEOs keeping connected executives for the benefits. Second, I find that firms with greater percentage of executives with connections to the CEO have greater accruals earnings management and lower likelihood of detection of accounting manipulations. I also show that the connections have an effect only when the joint tenure between the CEO and the executives are short. Finally, I document that firms with more closely connected top management team issue management earnings forecasts in a more precise form and issue more frequent and accurate forecasts. I show that this matters more when the top management team’s external network size is small. / Business Administration/Accounting

本研究以I/B/E/S中2004至2005年所有美國公司為樣本，依財務分析師盈餘預測值與所有財務分析師盈餘預測平均值之差異程度，將財務分析師分類為大膽或膽怯的財務分析師，並依財務分析師盈餘預測發布之時點將財務分析師分類為領導型或從眾型財務分析師。針對財務分析師盈餘預測行為大膽及領導特性，探討時效性領導型財務分析師之盈餘預測是否會較大膽，並進一步研究大膽的財務分析師其盈餘預測準確度是否較高，以及時效性之領導型財務分析師其盈餘預測準確度是否較高。 研究結果發現時效性之領導型財務分析師其盈餘預測行為會較大膽，但大膽的財務分析師其盈餘預測準確度較低，且時效性之領導型財務分析師其盈餘預測準確度並未出現較高的現象。 / Security analysts can be characterized as bold or herding based on the absolute distance between their earnings forecasts and the consensus forecast. Security analysts can also be classified as lead or following based on the timeliness of their earnings forecasts. Based on I/B/E/S annual earnings forecasts of all American companies during the period of 2004-2005, this study addresses the association between bold and lead and the relation between bold forecast and forecast accuracy. In addition, the relation between lead forecast and forecast accuracy is investigated as well. It is shown that lead analysts are bolder than following analysts and boldness likelihood increases with the frequency of analysts’ forecast and declines with the analysts’ prior accuracy. Further, bold analysts’ earnings forecasts are less accurate than herding analysts’ and lead analysts’ earnings forecasts are less accurate than following analysts.

“Broto novo em tronco velho” busca, a partir da sociologia compreensiva e do conflito social, analisar a ampliação do acesso as prerrogativas sociais (trabalhistas) decorrentes da igualdade formal jurídica criada pela Constituição da República Federativa do Brasil de 1988 aos trabalhadores rurais assalariados, sob o recorte espacial do município de Ijuí/RS e região. A moldura reflexiva ateve-se a ampliação das Prerrogativas de Cidadania, com atenção especial as sociais, eladas ao papel da ordem jurídica (racional formal) e os efeitos da ordem econômica naquela. A pesquisa exploratória, as entrevistas, a análise documental (Contratos Coletivos de Trabalho, Termos de Rescisão dos Contratos de Trabalho e Processos Judiciais) fundamentam a compreensão de que no Brasil ocorreram Políticas de Cidadania, como uma dinâmica de gestão, ora fechada, ora aberta de acesso às prerrogativas civis, políticas e sociais, e o fechamento do acesso aos provimentos (meios de produção e oportunidades), em vista da perene e histórica desigualdade social brasileira. Os Direitos Trabalhistas enquanto prerrogativas sociais estão eladas ao modelo industrial de produção, assim, a partir da década de 30 intensificasse aos trabalhadores urbanos o acesso, e a partir da década 60 os trabalhadores rurais passam a dispor de um rol crescente de prerrogativas sociais, ambas desencadeadas por processos crescentes de modernização (urbana e industrial), e depois, modernização da agricultura (rural e industrial) O conflito social se desloca da definição do preço do trabalho (domesticado pelo Estado), para a efetivação das prerrogativas trabalhistas na realidade dos obreiros rurais. Com a desigualdade jurídica formal praticada de 1943 com a Consolidação das Leis do Trabalho até a Constituição Federal de 1988 os trabalhadores rurais assalariados tiveram obstaculizadas as oportunidades e as chances de vida, as quais, a igualdade formal de 1988 não consegue criar com a mesma vigência/efetividade. Passando a compor apenas mais uma via de acesso à renda apta a subsistência e a manutenção de uma decrescente categoria profissional. As novas normas jurídicas trabalhistas criadas a partir de 1988, por não alcançarem um grau médio de vigência/efetividade na realidade, não podem ser compreendidas como ordem, no sentido weberiano, pois estas influem em um grau “baixo ou precário” nas ações e relações sociais de trabalho contratadas no espaço rural. A dinâmica de acesso às prerrogativas de cidadania, ora fechado ora aberto, em sentido amplo, irão se tornar de acesso público e geral a partir do momento que estas não estiverem aptas a fragilizar a estrutura dos provimentos (os meios de vida e meios de produção) e forem necessárias a manutenção e o aprimoramento institucional. A modernidade deixa transparecer que a sobrevivência humana foi e será preterida pela necessidade da preservação de suas próprias instituições. / “New bud in an old trunk” attempts, through comprehensive sociology and social conflict, to analyze the increase in the access to social prerogatives (labor related) resulting from the formal legal equality created by the Brazilian constitution of 1988, for wage-earning rural workers in the city of Ijuí/RS and its region. The reflexive framework focused on the amplification of the prerogatives of citizenship, with special attention to the social ones, linked to the role of the legal system (formal rational) and the effects of the economic order in it. The explanatory research, the interviews, the document analysis (collective labor agreements, terms of work contract termination, and lawsuits) underlie the understanding that Citizenship Policies as management dynamics happened in Brazil, sometimes closed, sometimes open to the access to civil prerogatives, social and political, and the closing of the access to provisions (means of production and opportunities), given the perennial and historical social inequality in Brazil. Labor rights as social prerogatives are linked to the industrial model of production, so that from the 1930s on, the access to them by rural workers would be intensified, and from the 1960s on rural workers start having an increasing list of social prerogatives, both triggered by growing processes of modernization (urban and industrial) and after, modernization of agriculture (rural and industrial). Social conflict moves away from the definition of the price of labor (domesticated by the state), for the effectiveness of the labor prerogatives in the reality of rural workers With the formal legal inequality practiced from 1943 with the consolidation of the labor laws until the Federal Constitution of 1988 wage-earning rural workers had obstacles to reach opportunities and chances of life, which the formal equality of 1988 is not able to create with the same effectiveness, then composing only one more way to access income fit for subsistence and the maintenance of a declining professional category. As the new legal labor rules created from 1988 on do not have an average degree of effectiveness in reality, they cannot be understood as an order in a Weberian sense, because these rules influence in a “low or precarious” degree in the actions and social relations of work hired in rural areas. The dynamics for access to the prerogatives of citizenship, sometimes open, sometimes closed, in a broad sense, will become of public and general access from the moment they are not able to weaken the structure of the provisions (the means of living and means of production) and the institutional maintenance and improvement are necessary. Modernity has shown us that human survival is and will be put aside for the necessity of preservation of its own institutions.

本研究乃使用民國七十三年至八十三年股票報酬與公司財務資料進行實證分析。研究的目的在於探討使用年、月、週、日報酬資料時： 　　(1).臺灣股票市場是否存在過度反應現象。 　　(2).控制公司風險後，臺灣股票市場是否仍然存在過度反應現象。 　　(3).控制公司規模後，臺灣股票市場是否存在過度反應現象。 　　(4).同時控制公司風險與公司規模後，臺灣股票市場是否還存在過度反應現象。 　　研究結果發現，在未控制其他任何變數時，民國八十年至八十二年間有過度反應的現象。在控制公司風險時，實證的結果顯示民國八十年至八十三年間臺灣股市有過度反應的現象。當控制公司規模時，實證的結果顯示僅有民國八十年至八十二年間臺灣股市有過度反應的現象。當同時控制公司規模與公司風險，臺灣股市在民國七十九年以後均有過度反應的現象。

<p><p>Självkänsla är något vi ständigt bär med oss och den inverkar på vårt agerande samt våra val i livet. Johnson (2003) delar in självkänslan i två delar den inre och yttre, vilka kan kombineras till fyra personligheter. Forskning har visat att självkänslan samvarierar med tendensen till att bruka self-handicapping. Self-handicapping innebär att människan skapar hinder för sig själv påhittade eller verkliga. Etthundrasju studenter fyllde i en enkät bestående av 58 påståenden, vilken mätte inre, yttre självkänsla samt self-handicapping. Deltagarna delades sedermera in i de fyra personligheterna, vilka ställdes mot dess uppmätta tendens till att bruka self-handicapping. Resultatet visade att låg inre och/eller hög yttre självkänsla ökar benägenheten till att använda self-handicapping. Avslutningsvis diskuteras och jämförs resultatets utfall.  </p><p> </p><p> </p><p> </p></p><p> </p>

Självkänsla är något vi ständigt bär med oss och den inverkar på vårt agerande samt våra val i livet. Johnson (2003) delar in självkänslan i två delar den inre och yttre, vilka kan kombineras till fyra personligheter. Forskning har visat att självkänslan samvarierar med tendensen till att bruka self-handicapping. Self-handicapping innebär att människan skapar hinder för sig själv påhittade eller verkliga. Etthundrasju studenter fyllde i en enkät bestående av 58 påståenden, vilken mätte inre, yttre självkänsla samt self-handicapping. Deltagarna delades sedermera in i de fyra personligheterna, vilka ställdes mot dess uppmätta tendens till att bruka self-handicapping. Resultatet visade att låg inre och/eller hög yttre självkänsla ökar benägenheten till att använda self-handicapping. Avslutningsvis diskuteras och jämförs resultatets utfall.

Con la reducción de los niveles de plomo en sangre desde una media de 3,8 μg/dL que tenían los niños de la Comunidad de Madrid en el año 1995 a una media de 1,1 μg/dL que tienen en al año 2010, se han dejado de perder entre 135.391 y 144.153 puntos de cociente intelectual (CI) entre los niños de 7-8 años, sin tener en cuenta los puntos que se pierden en el tramo por debajo de los 2,4 μg/dL, que a fecha de hoy, no está cuantificado. La capacidad de producción ganada a lo largo de la vida laboral (o los beneficios obtenidos derivados de la disminución de los niveles de plomo en la sangre de los niños de la Comunidad de Madrid), se estima en un abanico que se encontraría entre los 626,4 y los 865,4 millones de euros para toda la vida laboral de los niños de la cohorte de 7-8 años de edad. / With the reduction in blood lead levels from a mean of 3.8 mg / dL who were children of the Community of Madrid in 1995 to an average of 1.1 mg / dL who are in the year 2010, have stopped losing between 135,391 and 144,153 points of intelligence quotient (IQ) among children aged 7-8 years, regardless of the points lost in the section below 2.4 mg / dL, which date, not quantified. Production capacity gained throughout working life (or proceeds derived from the reduction of lead levels in the blood of the children of the Community of Madrid), is estimated in a range that would be among the 626,4 to 865,4 million euros for the entire career of the cohort of children 7-8 years old.

Financial sector of an economy plays an important role in its economic development and prosperity of the country. Banking industry serves as the backbone of the financial sector that accumulates saving from surplus economic units in the form of deposits and provides it to deficit economic units in the form of advances. Banking industry provides support to economy and industries in specific in the time of recessions and economic crisis. But when banks are at the heart of economic recession or banks are the cause of financial crisis like the recent past financial crisis 2007-09, it makes the situation worst for economic recovery. So it is of great importance to keenly observe the performance of the banks and their compliance with the regulatory requirements.   Performance of the banks is measured at two levels, one is at the management and regulatory level of the banks and another is at external rating agencies. Purpose of regulatory and supervisory rating systems is to measure the bank performance at internal level and its compliance with regulatory requirements to keep the bank on right track. These ratings are highly confidential and are only available to the bank management.  External credit rating agencies examine and evaluate the banks and issue ratings for the general public and investors in particulars. It is of great importance that both these ratings present the same results about the condition of the banks to provide clear information to investors and management. In past several banks suffer from bankruptcy that was the failure of both internal rating systems and credit rating agencies.   CAMELS is the supervisory and regulatory rating system implemented by State Bank of Pakistan. It takes into account six important components of a bank when it evaluates performance of the bank. These components are Capital, Assets, Management, Earning, Liquidity and Sensitivity to market risk. Ratings is assigned to theses components on the scale of 1 to 5 and that is a base for composite rating that also ranged from 1 to 5. PACRA rating agency is the dominant credit rating agency of Pakistan that performs ratings for most banks and industries in the country. In our research we examine the similarities in the results generated by CAMELS rating system and PACRA rating agency. For that purpose we sample seventeen commercial banks of Pakistan Banking industry.   We observed that results generated by sample banks do not show any similarities with each other. This might be an indication of the banks that went on to bankruptcy in past three to four years or a future threat to financial sector of Pakistan.

With the rapid development of economy, Taiwan¡¦s enterprises become bigger and bigger. Hence, the huge business groups play an important role in business environment of Taiwan. However, enterprises collectivization usually causes earning management by cross-shareholding and the related party transaction between group enterprises. In addition, former research which discussing business groups did not include the factor of financial operating. Therefore, in order to confirm if the financial operating is the key factor of earning management, the study separates the total samples into ¡§active financial operating business groups¡¨ and ¡§inactive financial operating business groups¡¨ according to the relevant financial ratio. The period of research contains 2000~2009, and the total effective research tests are 570 copies. Finally, the study develops eight hypotheses in a basis of four kinds of common related party transactions in Taiwan and two kinds of financial operating business groups. The empirical results show that the percentage of disposal assets in active financial operating business groups and the percentage of purchase and sales in inactive financial operating business groups have positive impact on earning management. However, the rest hypotheses have no obvious significance. Therefore, the rest hypotheses will not established.

The main aim of the thesis is to define creative accounting and describe selected techniques, which can be encountered in real life, including with their effect on accounting reports. For proper understanding of the issues this thesis also defines accounting in accordance with applicable laws and standards. However, the technique of creative accounting is the result of work of people who are part of an interest group which aims to present the status of the company in a distorted form. For this reason ethics in accounting is also a part of this thesis. The practical part of the work is focused on creative accounting practices and their implications are presented with examples. These examples are accompanied by diagrams presenting the impact of the respective values on selected accounting reports and include explanatory comments.