Owner-manager drawings, firm performance and financial structure: an analysis of small and closely-held UK firms
Owner-managers of small, closely-held UK companies withdraw as much as 60% from the annual profits of their businesses. Their drawing behaviors are influenced by expected and unexpected profits, as well as their financial interests in the business. Creditor support serves as an incentive for high equity firms to reduce drawings during periods of economic deterioration. However, no similar incentive exists among low or negative equity firms; thus, putting the interests of unsecured creditors in jeopardy.
Publication Name: Journal of Business Finance and Accounting
Some experimental evidence of functional fixation: a research note
Familiarity with data sets and techniques for their applications can interfere with subsequent, alternative applications of those data sets when management uses accounting information in making decisions and solving problems. Limited evidence exists of functional fixation in an accounting context.
Publication Name: Accounting, Organizations and Society
Performance measurement and the use of league tables: some experimental evidence of dysfunctional consequences
Research on the use of performance indicators and league tables to assess corporations is presented, with focus on the detrimental effects that occur when managers take decisions based on a desire to improve their league table position.
Publication Name: Accounting and Business Research
- Abstracts: Seigniorage, banking, and the optimal quantity of money. Maturity structure of public debt and expected bond returns
- Abstracts: The arbitrage pricing theory, macroeconomic and financial factors, and expectations generating processes. Valuing the strategic option to sell life insurance business: Theory and evidence
- Abstracts: An empirical analysis of Singapore's monetary and exchange rate policies in the 1990s. The industry effects of monetary policy and their welfare implications
- Abstracts: Exercise performance during inspiratory resistance breathing under exhaustive constant load work. Aerobic performance of Special Operations Forces personnel after a prolonged submarine deployment
- Abstracts: An empirical analysis of warrant prices versus long-term call option prices. The determinants of implied volatility: A test using LIFFE option prices