Globalization is a worldwide phenomenon. The concept globalization is a very recent term only establishing its current meaning in the 1970s, which emerged from the intersection of four inter related sets of communities of practice, academics, journalists, publishers. This paper models the channels through which globalization affects financial sector development in Nigeria. To this end this stud...

OBJECTIVES To contrast pharmacy benefit management (PBM) companies' measured profitability by using two accounting standards. The first accounting standard is that which, under Generally Accepted Accounting Principles (GAAP), PBMs are currently allowed to employ. The second accounting standard, seemingly more congruent with the PBM business model, treats the PBM as an agent of the plan sponsor....

This paper examines the effect of aid on domestic savings in Sub-Saharan Africa. It departs from the previous literature on aid and savings in developing countries by abandoning the pervasive, but untenable, assumption that all aid is used to expand the trade deficit and thus applied wholly to consumption or investment. In fact, for the period 1965-2006, the evidence suggests that 35% of any in...

The importance of disturbances in financial markets for real economic activity and the positive association between price level and output movements typically are explained by appeal to a combination of nominal aggregate demand shocks (particularly money-supply shocks) and rigid prices. We argue that this view is inconsistent with evidence for short-run responsiveness of prices and gold flows t...

Recent accounting research (Bahnson, P., Miller, P., & Budge, B. ( 1996). Nonarticulation in cash flow statements and implications for education, research and practice. Accouming Horizons, 10, 1-15 has shown that firms implementing the indirect method for reporting cash ftows under SFAS 95 rarely produce financial statements that articulate cleanly. The purposes of this paper are (I) to provide...

Casella for invaluable guidance during my program. I would also like to thank Professors Peter Wilson, Vic Bernard and Tom Stober for their willingness to answer questions and offer advice. Financial support from the Arthur Andersen Foundation, the Social Sciences and Humanities Research Council of Canada, and the UW/SSHRC grant program during various stages of this work was greatly appreciated...

Many accounting firms have changed the way their auditors evaluate internal control. Instead of preparing flowcharts documenting transaction flows, they only document the controls that have a bearing on specific financial statement assertions. This shift in documentation marks a change in the structure of the internal control evaluation task from transaction flow to control objective. This case...

The largest corporate bankruptcy filed in the U.S. that of Enron Corp in 2001 was preceded by a string of disclosures about the restatements of their financial statements.The presence of such errors that required restatements of the financial statements brings into focus the salience of two inter-related needs. The first is the need to assess the quality of the information contained in the fina...

The present international economic context is characterized by an increasing interdependence of economies and finances and by a high degree of trade competition. The arrival of emergent economies, such as China, has generated an important impact on the economies of Latin he participation of all Latin American countries, a phenomenon reflected in the increase of trade flows between both regions....

Much of the literature on the usefulness of company financial statement information focuses on the United States and the United Kingdom. But, these two countries are characterized by similar and rigid regulatory and enforcement regime. This study provides direct evidence from the Netherlands – a country with liberal financial reporting environment and different corporate governance regime. It e...