The frequency of earnings restatements has been increasing over the last decade. Restating previous earnings erodes perceived trustworthiness and competence of management, giving firms strong incentives to take actions to enhance perceived credibility of future financial reports [Farber, D. B.: 2005, The Accounting Review 80(2), 539–561.]. Using an experimental case, we examine the ability of post-restatement actions taken by a firm to positively influence non-professional investors’ perceptions of management’s financial reporting credibility. Our examination considers credibility judgments following two types (...) of restatements – those resulting from fraud in which the character, ethics, and values of an organization may be called into question [cf. Copeland, Jr., J. E.: 2005, Accounting Horizons 19(1), 35–43.], and those resulting from non-fraud (i.e., aggressive accounting). Based on the information in the experimental case, non-professional investors take the role of potential equity investors and make a judgment about management’s financial reporting credibility after reviewing a set of post-restatement actions taken by a firm. The possible actions include changes in four corporate governance mechanisms (i.e., internal audit function, external audit firm, board of directors, CFO) and a buyback of company stock. Our results provide an important contribution to the literature by demonstrating that among non-professional investors, perceptions of management’s financial reporting credibility are affected both by the post-restatement action taken and the nature of the restatement. These results offer insight into the formation of a key credibility judgment made by non-professional investors following a trust-destroying event, an earnings restatement. (shrink)
Posty do druziv (cherez saĭt "Filosofii︠a︡ v Ukraïni) z sela Shevchenkovoho -- Buty i prahnuty -- Asymetrii︠a︡ butti︠a︡ -- Karl I︠A︡spers "Prosvitlenni︠a︡ ekzystent︠s︡iï. Dosvid prochytanni︠a︡ -- Peremyslyty vse.
On World Philosophy Day, November 15, 2018, the Institute of Philosophy of the Russian Academy of Sciences organized the international conference on the Russian classic writer I.S. Turgenev. During the plenary and two breakout sessions, speeches were given by philosophers, cultural researchers, historians ofRussia,USA,Germany,Austria. The conference’s attitude to the consideration of the multifaceted heritage of the great Russian writer made it possible to highlight in the modern historical and cultural context many aspects of Turgenev’s work, to rethink stereotypes existing among (...) researchers and in the mass consciousness regarding Turgenev. At the conference, Turgenev was presented as a political thinker, a liberal who embodied spiritual asceticism, a supporter of the dialogue of cultures, a “Russian European” who does not accept “new barbarism” in all its manifestations from radicalism to Russian exclusivity idea. In the reports and speeches, attention was drawn to the cultural bilingualism inherent in Turgenev, his ability of non-biased artistic and philosophical observation, which enabled him to analyze the then state of minds in Russian society, to foresee many collisions inherent in the national historical process in the 20th – early 21st centuries and world cultural trends engendered by the “uprising of the masses,” to anticipate the drama of the absurd. At the conference, among the discussed topics were the themes of nihilism and loneliness, viewed through the prism of the existential experience of the writer and world literary characters. (shrink)
Автор ярким и доступным языком описывает жизнь Сократа и его философское мировоззрение, а также на основе источников путем логических рассуждений опровергает многие ошибочные представления об этом философе. Для историков и широкого круга читателей.