University of Valencia

About: University of Valencia is a education organization based out in Valencia, Spain. It is known for research contribution in the topics: Population & Context (language use). The organization has 27096 authors who have published 65669 publications receiving 1765689 citations. The organization is also known as: Universitat de València & UV.

On the Asymmetric Recognition of Good and Bad News in France, Germany and the United Kingdom

Abstract: We investigate whether accounting systems recognise bad news more promptly in earnings than good news, where news is proxied by changes in share price. The analysis is based on a sample of firm/years drawn from France, Germany, and the UK during 1990 to 1998. These three countries are the originators of three distinct legal traditions. Previous studies have argued that asymmetric recognition, one manifestation of conservative accounting, is sensitive to legal background and history. We find that in all three countries the contemporaneous association between earnings and returns is much stronger for bad news (i.e. when price changes are negative) than for good news, and although the results are strongest for the UK, and then France, the inter-country differences are not statistically significant. The stronger reaction to bad news is more pronounced for firms with relatively low capitalisation. We also find that the relative persistence of profits and losses are consistent with asymmetric recognition in France and the UK, but not in Germany, and that the more timely recognition of bad news is maintained even when we control for earnings persistence. When we extend the model to include price changes from previous periods, we see that the stronger reaction to bad news decays over time. The results from this model also suggest that 'pervasive' conservatism, unrelated to news, is observed in Germany and France, but the UK results are consistent with optimism. Although asymmetric recognition is generally strongest in the UK and weakest in Germany, and this broadly conforms to our expectations, the differences are less clear than the results from earlier periods

Is always authoritative the optimum parenting style? Evidence from Spanish families.

Abstract: The aim of this paper is to establish which parenting style is associated with optimum youth outcomes among adolescents of Spanish families. A sample of 1,416 teenagers from 12 to 17 years of age, of whom 57.2% were females, reported on their parents' child-rearing practices. The teenagers' parents were classified into one of four groups (authoritative, authoritarian, indulgent, or neglectful). The adolescents were then contrasted on four different outcomes: (1) self-esteem (academic, social, emotional, family and physical); (2) psychosocial maladjustment (hostility/aggression, negative self-esteem, negative self-adequacy, emotional irresponsiveness, emotional instability, and negative worldview); (3) personal competence (social competence, grade point average, and number of failing grades); and (4) problem behaviors (school misconduct, delinquency, and drug use). Results showed that both the indulgent and authoritative parenting styles were associated with better outcomes than authoritarian and neglectful parenting. Overall, our results supported the idea that in Spain the optimum style of parenting is the indulgent one, as adolescents' scores in the four sets of youth outcomes were equal or better than the authoritative style of parenting.