Showing papers by "Texas Christian University published in 2005"

Earnings Management and Cross Listing: Are Reconciled Earnings Comparable to US Earnings?

Abstract: We compare the characteristics of US GAAP earnings for US firms with reconciled earnings for non-US firms cross listing on US markets. We find that the reconciled earnings for non-US firms differ systematically from US GAAP earnings for US firms, and are characterized by more evidence of smoothing, a greater tendency to manage earnings towards a target, a lower association with share price and less timely recognition of losses. Further, splitting by country of domicile, earnings for firms from countries with relatively weak local investor protection environments show more evidence of earnings management, suggesting that institutional features of the local environment find their way into US GAAP-reported earnings. Our evidence suggests that, even though cross-listed firms operate under the regulatory authority of the SEC and follow nominally similar accounting standards, their reconciled accounting data show more evidence of earnings management than data prepared by US firms.

Exploring the Impact of Study Abroad on Students’ Intercultural Communication Skills: Adaptability and Sensitivity:

Abstract: This study answers a need for outcome assessment in study abroad by exploring the intercultural communication skills of study abroad and on campus students. Through a pretest and posttest of two specific skills, intercultural adaptability and intercultural sensitivity, study abroad students were compared to students who stay on campus to measure their change (if any) during the course of the semester. Using the Cross-Cultural Adaptability Inventory and the Intercultural Sensitivity Index, the two student groups individually assessed their strengths and weaknesses through a self-reported inventory at the beginning and end of the fall 2002 academic semester. Results confirmed the hypothesis that students who study abroad exhibit a greater change in intercultural communication skills after their semester abroad than students who stay on campus. Results also indicated that exposure to various cultures was the greatest predictor of intercultural communication skills.

Managers' Motives to Withhold Segment Disclosures and the Effect of SFAS No. 131 on Analysts' Information Environment

Abstract: Using retroactive disclosures required by Statement of Financial Accounting Standards (SFAS) No. 131, we examine managers' incentives for withholding segment information under SFAS No. 14 and the impact of SFAS No. 131 on analysts' information environment for a sample of firms that previously reported as single‐segment firms and initiated segment disclosure with SFAS No. 131. We examine this set of firms because they likely had the strongest incentives to withhold segment information and analysts potentially had the most to gain when these firms were forced to begin providing segment disclosures under SFAS No. 131. We find that these firms used the latitude in SFAS No. 14 to hide profitable segments operating in less competitive industries than their primary operations. However, we find no evidence to suggest that these firms used the latitude in SFAS No. 14 to mask poor performance. In contrast, our results suggest that by withholding segment information, these firms allowed themselves to appear as if th...

Understanding Business Group Performance in an Emerging Economy: Acquiring Resources and Capabilities in Order to Prosper*

Abstract: The prevalent organizational form in most emerging markets is business groups. These groups have typically been viewed through a transaction cost economics perspective where they are perceived as responses to inefficiencies in the market. However, the evidence to date on what generates a positive business group-performance relationship in such environments is not well understood. This study expands the understanding of business groups by employing the resource-based and institutional theoretical perspectives to examine how groups acquire resources and capabilities to prosper. The empirical evidence is based on over 224 business groups in the emerging economy context of China and shows that most of the endowed government resources do not help business groups to create a competitive edge. Instead, those business groups with strategic actions to develop a unique portfolio of market-oriented resources and capabilities are most likely to prosper. The results provide critical insights on the relationship between the initiation of institutional transformation and the desired outcome to be realized by organizational transformation, thus enriching our understanding of institutions and strategic choices facilitated or constrained by organizational resources in emerging economies.

Integrating The Diverse Definitions of Happiness: A Time-Sequential Framework of Subjective Well-Being

Abstract: The field of subjective well-being (SWB) is primarily concerned with people’s evaluation of their lives; however, it includes a wide range of concepts, from momentary moods to global life satisfaction judgments. We propose a framework that integrates these diverse constructs. Our sequential temporal framework of subjective well-being describes experiences of well-being from the events and circumstances that cause evaluative reactions, through the emotional reactions to these events, to recall of these reactions, and finally to global judgments of well-being based on the previous stages. The hypothesized processes that translate the various steps in the sequence into one another are described, and supporting evidence is reviewed. We outline the implications of our framework for understanding subjective well-being, and discuss the research that is needed to further explore the proposed framework.

Representational momentum and related displacements in spatial memory : A review of the findings

Abstract: Memory for the final location of a moving target is often displaced in the direction of target motion, and this has been referred to asrepresentational momentum. Characteristics of the target (e.g., velocity, size, direction, and identity), display (e.g., target format, retention interval, and response method), context (landmarks, expectations, and attribution of motion source), and observer (e.g., allocation of attention, eye movements, and psychopathology) that influence the direction and magnitude of displacement are reviewed. Specific conclusions regarding numerous variables that influence displacement (e.g., presence of landmarks or surrounding context), as well as broad-based conclusions regarding displacement in general (e.g., displacement does not reflect objective physical principles, may reflect aspects of naive physics, does not solely reflect eye movements, may involve some modular processing, and reflects high-level processes) are drawn. A possible computational theory of displacement is suggested in which displacement (1) helps bridge the gap between perception and action and (2) plays a critical part in localizing stimuli in the environment.

Employee involvement climate and organizational effectiveness

Abstract: This study empirically examines the relationship between the perceived employee involvement (EI) climate and organizational effectiveness. Using a sample of insurance companies, results indicate that organizations with high levels of perceived EI climate lead to organizational effectiveness as measured through financial performance, turnover rate, and workforce morale. Implications of the results for research and practice are discussed. © 2005 Wiley Periodicals, Inc.

Which Behaviors Do Attitudes Predict? Meta-Analyzing the Effects of Social Pressure and Perceived Difficulty

Abstract: A meta-analysis of 797 studies and 1,001 effect sizes tested a theoretical hypothesis that situational constraints, such as perceived social pressure and perceived difficulty, weaken the relationsh...

Do Auctions Induce a Winner's Curse? New Evidence from the Corporate Takeover Market

Abstract: We contrast the winner's curse hypothesis and the competitive market hypothesis as potential explanations for the observed returns to bidders in corporate takeovers. The winner's curse hypothesis posits sub-optimal behavior in which winning bidders fail to adapt their strategies to the level of competition and the amount of uncertainty in the takeover environment and predicts that bidder returns will be inversely related to the level of competition in a given deal and to the uncertainty in the value of the target. Our measure of takeover competition comes from a unique data set on the auction process that occurs prior to the announcement of a takeover. In our empirical estimation, we control for the endogeneity between bidder returns and the level of competition in takeover deals. Controlling for endogeneity, we find that the returns to bidders are not significantly related to takeover competition. We also find that uncertainty in the value of the target does not reduce bidder returns. Related analysis indicates that prestigious investment banks do not promote overbidding. Analysis of post-takeover operating performance also fails to find any negative effects of takeover competition. As a whole, the results indicate that the breakeven returns to bidders in corporate takeovers stem not from the winner's curse but from the competitive market for targets that occurs predominantly prior to the public announcement of bids.

Earnings Management around Employee Stock Option Reissues

Abstract: We investigate market behavior in a setting where managerial incentives to manipulate earnings and market price should be apparent ex ante to market participants. We find evidence of abnormally low discretionary accruals in the period following announcements of cancellations of executive stock options up to the time the options are reissued. Nevertheless, analysts and investors are not misled. Discretionary accruals have little power in explaining stock price performance during this period. Moreover, discretionary accruals do not explain subsequent analyst forecast errors. Thus, our findings suggest that, in this transparent setting, analysts and investors do not respond to earnings management.

Channel adjustments of the lower Trinity River, Texas, downstream of Livingston Dam

Abstract: Channel cross-sectional changes since construction of Livingston Dam and Lake Livingston in 1968 were studied in the lower Trinity River, Texas, to test theoretical models of channel adjustment, and to determine controls on the spatial extent of channel response. High and average flows were not significantly modified by the dam, but sediment transport is greatly reduced. The study is treated as an opportunistic experiment to examine the effects of a reduction in sediment supply when discharge regime is unchanged. Channel scour is evident for about 60 km downstream, and the general phenomena of incision, widening, coarsening of channel sediment and a decrease in channel slope are successfully predicted, in a qualitative sense, by standard models of channel response. However, there is no consistent channel response within this reach, as various qualitatively different combinations of increases, decreases or no change in width, depth, slope and roughness occur. These multiple modes of adjustment are predicted by the unstable hydraulic geometry model. Between about 60 km and the Trinity delta 175 km downstream of the dam, no morphological response to the dam is observed. Rather than a diminution of the dam's effects on fluvial processes, this is due to a fundamental change in controls of the fluvial system. The downstream end of the scour zone corresponds to the upstream extent of channel response to Holocene sea level rise. Beyond 60 km downstream, the Trinity River is characterized by extensive sediment storage and reduced conveyance capacity, so that even after dam construction sediment supply still exceeds transport capacity. The channel bed of much of this reach is near or below sea level, so that sea level rise and backwater effects from the estuary are more important controls on the fluvial system than upstream inputs. Copyright © 2005 John Wiley & Sons, Ltd.

Porous silicon-based scaffolds for tissue engineering and other biomedical applications

Abstract: This work describes the formation of porous composite materials based on a combination of bioactive mesoporous silicon and bioerodible polymers such as poly-caprolactone (PCL). The fabrication of a range of composites prepared by both salt leaching and microemulsion techniques are discussed. Particular attention to the influence of Si content in the composite on in vitro calcification assays are assessed. For each system, cytotoxicity and cellular proliferation are explicitly evaluated through fibroblast cell culture assays.

Strategic decisions in supply‐chain intelligence using knowledge management: an analytic‐network‐process framework

Abstract: Purpose – To investigate the linkage between organization performance criteria and the dimensions of agility, e‐supply‐chain drivers and knowledge management.Design/methodology/approach – The analytic network process is applied as the research methodology in the context of executive decisions that include qualitative and quantitative attributes. The decision model is presented, along with a case study with an e‐supply chain of a global telecommunications company.Findings – The study develops a framework for measuring the relative importance of a particular dimension based on the application of theoretical concepts from the information systems and management science literature to the digital, knowledge economy. Since contextual factors play a critical role in the design of effective knowledge‐management (KM) systems, technical and process solutions need to be customized to fit the organization performance criteria, dimensions of agility and supply chain drivers.Research limitations/implications – The model...

Effects of Salient Multiple Identities on Women's Performance Under Mathematics Stereotype Threat

Abstract: Previous research on affective extremity and social identity complexity suggested that women's mathematics stereotype threat might be alleviated by reminding individual women of their multiple roles and identities, most of which would presumably be unrelated and thus impervious to negative stereotypes regarding math performance. To test this hypothesis, we primed the relevant stereotype and then asked men and women college students to draw self-concept maps with many or few nodes. When they drew no maps or maps with few nodes, highly math-identified women scored significantly worse than highly math-identified men on a subsequent Graduate Record Examination-like math test, but when they drew maps with many nodes, they scored as well as those men. Theoretical and practical implications of the results are discussed.

CRM in Sales-Intensive Organizations: A Review and Future Directions

Abstract: With the advent of technology enabling greater customer tracking, more robust knowledge management, and direct customer communication, the implementation of customer relationship management (CRM) strategies has grown in importance with many implications for sales-intensive organizations. Implications of CRM strategy, analytical CRM, and operational CRM are discussed, particularly in terms of research opportunities. Although there are, no doubt, many other interesting and worthwhile research opportunities available, the nexus of technology, CRM, and sales-intensive go-to-market strategies provide myriad opportunities for exciting research.

NiCl2-Catalyzed Hydrophosphinylation

Abstract: A new nickel-based catalytic system has been developed for phosphorus−carbon bond formation. The addition of alkyl phosphinates to alkynes is catalyzed by nickel chloride in the absence of added ligand. The reaction generally proceeds in high yields, even with internal alkynes, which were poor substrates in our previously reported palladium-catalyzed hydrophosphinylation of alkyl phosphinates. The method is useful for the preparation of H-phosphinate esters and their derivatives. The one-pot synthesis of various important organophosphorus compounds is also demonstrated. The reaction can be conducted with microwave heating.

Evidence That Investors Trade on Private Event‐Period Information around Earnings Announcements

Abstract: Holthausen and Verrecchia's (1990) and Kim and Verrecchia's (1997) theoretical models predict that private information inferred at the time of an earnings announcement (private event‐period information) is associated with greater trading volume. We provide empirical evidence consistent with these theories. Specifically, announcements that increase analysts' private information (as measured by Barron et al.'s [1998] empirical proxies) are associated with increased trading volume, consistent with some investors similarly acquiring private event‐period information. In addition, announcements that decrease analysts' consensus are associated with more trading volume. Because consensus declines when private information increases, this finding provides reinforcing evidence that investors trade following earnings announcements because of private information that becomes useful only in conjunction with the information in the announcement and that this information is important enough to spur trading.

Warehouse management systems : resource commitment, capabilities, and organizational performance

Abstract: Modern warehousing firms and distribution centers are overwhelmed with information related to the flows and storage of goods and services. The efficient and effective utilization of logistics-related information can enhance firms' ability to reduce costs while simultaneously improving customer satisfaction. Warehouse management systems (WMS) are frequently implemented and used with these goals in mind. The current research examines resource-based empirical justification for the pursuit and implementation of WMS. In addition, a research agenda is offered to guide future research efforts related to WMS and the broader area of logistics information systems (LIS).

Biomass-dependent effects of common carp on water quality in shallow ponds

Abstract: We examined the biomass-dependent effects of common carp (Cyprinus carpio) on water quality in 10 ponds at the Eagle Mountain Fish Hatchery, Fort Worth, Texas, USA. Ponds contained 0–465 kg ha−1 of common carp. We measured limnological variables at weekly intervals for four weeks in early summer, after which ponds were drained and the biomass of fish and macrophytes was determined. Common carp biomass was significantly positively correlated with chlorophyll a, total phosphorus, total nitrogen, and Keratella spp. density and negatively correlated to bushy pondweed (Najas guadalupensis) biomass. In addition, we combined our data with data from comparable studies to develop more robust regression models that predict the biomass-dependent effects of common carp on water quality variables across a wide range of systems.

Linguistic Gender Marking and Categorization

Abstract: Gender markers provide syntactic structure and a categorization schema to language. Brand name gender is a function of both formal, structural aspects of the brand name and semantic properties of the brand's product class. In the formal gender system of Spanish, consistent formal gender marking enhances brand recall, whereas semantic product associations drive brand evaluation. In the semantic gender system of English, formal cues determine initial brand name gender, but congruent semantic associations between brand name and product category drive improved brand evaluations and brand recall. Three studies across two languages demonstrate that gender's role as a categorization tool underlies these effects.

Beyond Test Scores: The Impact of Black Teacher Role Models on Rigorous Math Taking

Abstract: I. INTRODUCTION Black high school students participate in advanced math classes at low rates. In 1999, 24% of white high school juniors and seniors enrolled in precalculus or calculus, but only half as many black juniors and seniors enrolled in these same classes. (1) The low rates of advanced math taking among black students should concern policymakers, given that a rigorous high school math curriculum has been shown to have long-run implications for future labor market earnings and college success. The highest level of math completed is potentially a stronger predictor of bachelor's degree completion than socioeconomic status and has a greater impact on the graduation rates of black students than on white students (Adelman, 1999). An advanced high school math curriculum not only affects wages by increasing the likelihood of postsecondary degree completion, it also has a unique direct impact on wages 10 years after high school; the more demanding the math courses taken, the greater the earnings gain (Rose and Betts, 2001). The academic underachievement of black students relative to white students is often attributed to differences in family background characteristics, such as income, family structure, and parents' education (Phillips et al., 1998). In addition, black peers may discourage behavior conducive to academic success based on fears of "acting white" (Fordham and Ogbu, 1986; Cook and Ludwig, 1998; Farkas et al., 2002); predominantly black schools tend to have fewer school resources, including lower-quality teachers (Ferguson, 1998a; Phillips et al., 1998); and ability-grouping practices (tracking) disproportionately place black students on remedial or vocational academic tracks (Oakes, 1985; Gordon, 2000; Losen and Orfield, 2002). Black parents may also be less likely than white parents to intervene when their children are not placed in advanced academic tracks or in gifted and talented programs (Chmelynski, 1998; Darity et al., 2001). A less studied potential source of black underachievement is the shortage of culturally similar teacher role models. Poor black students, among whom teachers are often the only college-educated people they know, are in particular need of role models who (1) are interested in their educational progress; (2) understand the school system as an institution; and (3) actively encourage academic excellence and the pursuit of a challenging curriculum. Culturally similar teachers may take more interest in mentoring black students and have more credibility with those students. Given the importance of a rigorous mathematics curriculum and that math is frequently a gatekeeper subject for black students, same-race math teachers play a potentially vital role in preparing black students for their academic and working futures. This article examines the impact of black math teachers on the likelihood that a current black math student will choose to enroll in a rigorous math class the following year. Students are only allowed to proceed to the next-level math class if they pass the prerequisite class. Students will only be willing to proceed if they had a reasonably pleasant experience in the prerequisite class and/or they have strong expectations of attending college. The math continuation decision provides a better indicator of the effectiveness of a student-teacher relationship than do test scores, which have been utilized in previous studies, since continuation is determined in part by academic achievement and in part by expectations for future schooling, both of which can be influenced by effective academic role models. Using the Texas Schools Microdata Panel, this article finds that increasing the percentage of math teachers who are black has a nontrivial positive impact on the likelihood that a black geometry student will take additional rigorous math. II. THEORETICAL INFLUENCES OF MATH CONTINUATION Black math teachers may increase the likelihood that a black math student pursues rigorous math by (1) increasing learning such that a student has the option to continue and (2) making learning a positive experience such that a student has the desire to continue. …