1166 EEKKİ İİM CCUUMAA SSAAYYI II: : 666622 Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 1
Resmi Gazete YÜRÜTME VE İDARE BÖLÜMÜ MİLLETLERARASI ANDLAŞMALAR 2009/15477 2000 li Yılların Taktik Muhabere Sistemlerini Tanımlayan Standardizasyon Anlaşmalarının Geliştirilmesi Mutabakat Muhtırası (TACOMS POST-2000) 2 nci Değişiklik Ekinin Onaylanması Hakkında Karar BAKANLAR KURULU KARARLARI 2009/15499 Diplomatik, Hususi, Hizmet ve Umuma Mahsus Pasaport Hamili Suriye Vatandaşlarının Türkiye ye Yapacakları Turistik Amaçlı Seyahatlerinde, İkamet Sürelerinin 180 Gün İçinde 90 Günü Aşmaması Kaydıyla Tek Taraflı Vize Muafiyeti Sağlanması Hakkında Karar 2009/15500 Kırsal Kalkınma Yatırımlarının Desteklenmesi Hakkında Kararda Değişiklik Yapılmasına Dair Karar BAKANLIKLARA VEKÂLET ETME İŞLEMİ Dışişleri Bakanlığına, İçişleri Bakanı Beşir ATALAY ın Vekâlet Etmesine Dair Tezkere Çevre ve Orman Bakanlığına, Devlet Bakanı Faruk ÇELİK in Vekâlet Etmesine Dair Tezkere ATAMA KARARLARI Maliye Bakanlığına Ait Atama Kararları YÖNETMELİKLER Diyanet İşleri Başkanlığı Atama ve Yer Değiştirme Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Millî Eğitim Bakanlığı İmam-Hatip Liseleri Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Millî Eğitim Bakanlığı Taşımalı İlköğretim Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Ulaştırma ve Haberleşme Uzman ve Uzman Yardımcılarının Sınav, Atama, Çalışma Usul ve Esasları Hakkında Yönetmelik İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 2
Petrol Piyasası Lisans Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik İstanbul Üniversitesi Enez Bölgesi Arkeoloji Araştırmaları Uygulama ve Araştırma Merkezi Yönetmeliği İstanbul Üniversitesi Türk Halkbilimi Uygulama ve Araştırma Merkezi Yönetmeliği İstanbul Üniversitesi Sürekli Eğitim Uygulama ve Araştırma Merkezi Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Süleyman Demirel Üniversitesi Nörolojik Bilimler Uygulama ve Araştırma Merkezi Yönetmeliği TEBLİĞLER Yataklı Sağlık Tesislerinde Acil Servis Hizmetlerinin Uygulama Usul ve Esasları Hakkında Tebliğ Zorunlu Karşılıklar Hakkında Tebliğde Değişiklik Yapılmasına Dair Tebliğ (Sayı: 2009/7) Yabancı Süreli Yayınlar The International Journal of Accounting Volume 44, Issue 2, Pages 113-218 (June 2009) Reversing an impairment loss and earnings management: The role of corporate governance Pages 113-137 Rong-Ruey Duh, Wen-Chih Lee, Ching-Chieh Lin Abstract This paper examines whether the reversal of a previously recognized impairment loss provides an opportunity for earnings management, and whether such behavior is associated with managers' incentives. It also examines whether a corporate-governance mechanism can mitigate this behavior. Since 2005, listed companies in Taiwan have been required to comply with accounting standards, equivalent to International Accounting Standards (IAS) No. 36 Impairment of Assets, which allow reversals of asset-impairment losses. Data on a sample of 55 firms that reversed impairment losses between 2005 and the first quarter of 2007 were matched by industry and size with 55 control firms. Empirical results show that firms recognizing more impairment losses are more likely to reverse impairment losses when doing so would avoid an earnings decline in a subsequent period, which is consistent with the cookie jar reserve hypothesis. We also show that such behavior is more pronounced for firms with higher debt ratios, consistent with earnings management being associated with the incentive to avoid violation of debt covenants. However, an effective corporate governance mechanism could mitigate such behavior. Our study may contribute to the debate on global convergence with IFRS, especially convergence between IFRS and U.S. GAAP with respect to the Impairment of Assets, by providing a rationale for the latter's prohibition of reversals. It may also contribute to the corporate-governance literature by showing the effect of governance mechanisms on deterring earnings management. İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 3
Article Outline 1. Introduction 2. Prior literature and research hypotheses 3. Research design 3.1. Sample selection 3.2. Empirical models 4. Empirical results 4.1. Descriptive statistics 4.2. Test for H1 4.3. Test for H2 4.4. Test for H3 4.5. Tests for H4 and H5 5. Sensitivity analyses 5.1. Dichotomizing the NI it REV it NI it 1 variable 5.2. Validating the DDEBT it and DCOMP it variable 5.3. Developing an alternative measure of corporate-governance mechanisms 5.4. Randomly selecting a control sample 5.5. Considering the effect of audit quality 6. Discussion and conclusion Acknowledgements References Executive performance-based remuneration, performance change and board structures Pages 138-162 Janet Lee Abstract This paper examines CEO performance-based remuneration in companies that experience improvement in financial performance but have different board structures. It analyzes how such payment relates to change in financial performance and board structures by comparing the cases between Australian and Singaporean companies. The results highlight that performance pay in both countries is likely to be linked to change in performance. However, the proportion of CEO performance-based payment in both İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 4
countries does not seem to be related to board structure. Larger firms in both countries appear to make great use of performance-based remuneration. Sales revenue is likely to be used by companies in both countries as a yardstick for determining CEO performance pay. Article Outline 1. Introduction 2. Institutional setting in Australia and Singapore 3. Executive performance-based compensation 4. Company board structure 5. Variables 5.1. CEO remuneration 5.2. Financial performance 5.3. Ownership concentration 5.4. Board independence 5.5. Management-dominated control 5.6. Other board and firm attributes 6. Sample 7. Results 7.1. Sample characteristics: Ownership concentration, board structure and firm attributes 7.2. CEO performance-based remuneration 7.3. Determinants of CEO performance-based remuneration 7.4. Additional tests 8. Conclusion Acknowledgements References Development of accounting regulation in Jordan Pages 163-186 Mahmoud Al-Akra, Muhammad Jahangir Ali, Omar Marashdeh Abstract İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 5
This study examines the development of accounting regulation in Jordan with emphasis on the dominant environmental factors that influence it. In order to have a better understanding of Jordan's present accounting practices, and its future development tendencies, we examine the path of accounting in Jordan since the early days of the nineteenth century, and analyze how Jordan's accounting environment political, economic, legal and cultural influenced the development of accounting in Jordan. We also examine Jordan's recent move towards full adoption of International Financial Reporting Standards (IFRS) and find that Jordan's colonial past has exerted a strong influence. In addition, we conclude that political and economic factors, through privatization and the resulting accounting reforms, contributed more to the development of accounting practices than other environmental factors. Privatization led to reforming Jordan's disclosure regulation and laying down of the corporate-governance policy framework. Our conclusions could be of interest to other countries, particularly developing countries, who want to improve the quality of their accounting disclosures and practices. Article Outline 1. Introduction 2. The Hashemite Kingdom of Jordan a brief sketch 3. Historical overview of accounting regulation in Jordan 3.1. Prior to independence (1947) 3.2. From independence until 1997 3.2.1. The 1964 Company Law 3.2.2. The 1966 Commercial Law 3.2.3. The accounting profession 3.3. 1997 onwards 4. Environmental factors affecting accounting development in Jordan 4.1. Political and economic influences 4.1.1. Independence 1980s 4.1.2. The Jordanian capital market 4.1.3. 1980 early 1990s 4.1.4. The 1990s and privatization 4.2. Legal systems İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 6
4.3. Taxation 4.4. Cultural influence 4.5. Religion 4.6. Business ownership and organization 4.7. The education system 4.8. International factors 5. Recent developments and the role of International Financial Reporting Standards in Jordan 5.1. The recent accounting regulatory reforms 5.1.1. 1997 Company Law No. 22 5.1.2. The 1997 Temporary Securities Law No.23 5.1.3. The 2002 Securities Law No. 76 5.1.4. The code of corporate governance 5.1.5. The 2003 Accounting Profession Law 5.2. Accounting standards enforcement and compliance 6. Accounting standards due process 7. Conclusion References The value relevance of major media advertising expenditures: Some U.K. evidence Pages 187-206 Syed Zulfiqar Ali Shah, Andrew W. Stark, Saeed Akbar Abstract This study examines whether ACNielsen MEAL major media advertising expenditure measures, that are publicly available at a cost, have value relevance. Our results suggest that these advertising-expenditure measures are positively associated with market value. We also find little difference in the value relevance of these expenditures among different sizes of firms. Value relevance is found to be present only for nonmanufacturing firms. This suggests that the costly information provided by ACNielsen MEAL surveys may be potentially useful to market participants in valuing firms, at least for nonmanufacturing firms. Article Outline İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 7
1. Introduction 2. Relevant literature 3. Research design 3.1. Firm size effects 3.2. Sector effects 4. Sample selection and variable measurement 4.1. Sample selection 4.2. Variable measurement 5. Results and discussion 5.1. Valuation results 5.2. Results for firm size effects 5.3. Results for sector effects 6. Summary and conclusion References İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 8