Regelmässig in r&c: wichtige und aktuelle Informationen zur internationalen Rechnungslegung. Dazu gehören unter anderem die Arbeit und das Arbeitsprogramm des International Accounting Standards Board (IASB) sowie des IFRS Interpretations Committee, die Überarbeitung bestehenderund die Entwicklung neuer Standards sowie sonstige Verlautbarungen
und aktuelle Informationen in diesem Bereich.
Von den über 250 im Main Standard an der SIX Swiss Exchange kotierten Unternehmenhaben sich in den Jahren 2009 bis 2011 deren 16 für eine Umstellung von International Financial Reporting Standards (IFRS ) auf Swiss GAA P FER und damit für einen Wechsel in den Domestic Standard entschieden. Der Beitrag analysiert die Beweggründe dieses Wechsels und diskutiert mögliche Auswirkungen auf die Stakeholder
der Unternehmen.
Der Ausweis des eigenen Kreditrisikos ist ein brisantes Thema. Mit IFRS 9 sind Gewinne und Verluste aus eigenem Kreditrisiko bei der Anwendung der Fair-Value-Option erfolgsneutral auszuweisen. Für die Berechnung dieser Gewinne undverluste schlägt der Standard eine intuitive Methode vor. Dieser Beitrag zeigt einewesentliche Schwäche dieser Methode bezüglich des ausgewiesenen Zinsaufwands auf und stellt eine alternative Methode zur Berechnung des Erfolgs aus eigenem Kreditrisiko vor, welche die Schwäche behebt und den Jahresabschluss aussagekräftiger und vertrauenswürdiger macht.
The paper presents estimation results on the size and loyalty of sport teams’ supporter groups in professional German football. Based on a novel two-stage estimation procedure, we find clear evidence for heterogeneity across teams. In the first stage, a random-utility model for a representative consumer is modelled and fitted to more than 1700 matches over the seasons 1996–2001. In the second step, attendance probabilities are predicted for the seasons 2002–2003 to estimate group sizes. A team's group size is positively correlated with its memberships (inline image.61; p<0.01), fan clubs (inline image.59; p<0.01) and merchandizing revenues (inline image.49; p<0.05). Noteworthy is that no similar correlations can be found for a team's home town population which has been the standard measure for market size in applied work so far.
We analyse the all-pay auction with incomplete information and variance-averse bidders. We characterise the unique symmetric equilibrium for general distributions of valuations and any number of bidders. Variance aversion is a sufficient assumption to predict that high-valuation bidders increase their bids relative to the risk-neutral case while low types decrease their bid. Considering an asymmetric two-player environment with uniformly distributed valuations, we show that a variance-averse player always bids higher than her risk-neutral opponent with the same valuation. Utilising our analytically derived bidding functions we discuss all-pay auctions with variance-averse bidders from an auction designer’s perspective. We briefly consider possible extensions of our model, including noisy signals, type-dependent attitudes towards risk, and variance-seeking preferences.
We introduce agency concerns to social capital theory and predict that managers can use individual social capital to reduce personal effort costs, which is not in the best interest of the firm. To test this prediction, we collect data on all 8,019 hiring decisions from general managers in the National Basketball Association between 1981 and 2011. We find that managers have a clear preference for hiring players through social ties. The probability that a manager hires players from an NBA franchise to which he is socially tied is 27.6% higher than for an untied franchise. To isolate the motivation for this behavior, we complement our data with information on the sporting performance of teams. In line with agency theory, we find that the hiring of players through social ties reduces team performance. The effect is large: on average, each social-tie player reduces team winning percentage by 5.4%. Overall, this paper documents first empirical evidence that decision makers’ use of individual social capital can lead to reduced firm-level performance.
In recent years, international accreditations from private providers have gained importance among business schools all over the world. Higher education managers increasingly see these accreditations as a way of assuring and developing quality in order to comply with international standards, enhance performance, and increase reputation. However, given that an accreditation process requires a great deal of resources and that it might increase bureaucratization and control, international accreditations remain highly disputed in academia. This paper contributes to the discussion, providing quantitative empirical evidence regarding the effect of international accreditations on the research performance of business schools. On the basis of an international survey, we analyse how the acquisition of an AACSB and/or EQUIS accreditation affects the institutions’ position in the Top 1000 Business School Ranking of the Social Science Research Network, as compared to other quality management approaches. We find that international accreditations are positively related to research performance, while other forms of quality management do not exhibit any significant relationship to ranking positions. These results point to the importance of professional coaching in quality management. Because of AACSB and EQUIS’s high standards concerning a coherent strategy and the quality of faculty, applying for an international accreditation seems to be a useful way to improve a business school’s research performance.
Das Parlament hat das veraltete Recht zur Rechnungslegung überarbeitet. Die Autoren begrüssen die Modernisierung, hadern aber mit der Regelung von stillen Reserven und Konzernrechnung.
