Shivakumar (2006) and Basu (1997) models of conservatism identify fraud firms as anti-conservative. We show that both models do so to some extent‚ but Ball and Shivakumar model results are stronger. We further show that these results are driven by firms committing largest frauds as a percentage of firms’ assets. Our results are important to academics who use conservatism measures in their studies‚ and to policy makers who seek to assess usefulness of conservatism to capital markets. **Corresponding
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VISIT TO UST MUSEUM Date of Submission: December 14‚ 2011 As a Thomasian‚ it is just appropriate to visit the UST Museum where it showcases its rich collection of artifacts and important figures that defines our history. Here’s an historical background of the museum. The UST Museum is the oldest museum in the Philippines featuring a rich natural history collection‚ with a diorama of selected Philippine fauna. Other exhibits include the ethnography collection (cultural artifacts)‚ the oriental
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“UST Inc” case study The primary business risks associated with UST are as follows: First‚ legal challenges will cause litigation expenses‚ lawsuits expenses and settlement payments‚ which will decrease the operating income and cash flow and will increase the risks of debt default. From the industry level‚ the smokeless tobacco manufactures have faced less exposure to health related lawsuits than cigarette manufactures because the scientific evidence linking smokeless tobacco to cancer is less
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After the “end of history” After the “end of history” Francis Fukuyama 02 May 2006 Francis Fukuyama’s "end of history" thesis – proposed in a 1989 essay‚ elaborated in a 1992 book – was the most influential attempt to make sense of the post-cold-war world. In a new afterword to "The End of History and the Last Man"‚ Fukuyama reflects on how his ideas have survived the tides of criticism and political change. In the seventeen years that have passed since the original publication of my essay
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A 17- STORY hospital tower with a helipad‚ 1000 doctors trained in multi-disciplinary healthcare and four new health institutes‚ the UST Hospital (USTH) seems not only to have recovered financially‚ but is eager to reach for the stars. But is its P3 billion expansion plan simply too starry-eyed for comfort? Is it too ambitious? Yes‚ according to Dr. Cenon Alfonso‚ president and chief executive officer of USTH. He said that the P3 billion financing for the expansion came from a fixed-term‚ syndicated
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History Apple computer was founded on April 1st‚ 1976 by Steven Jobs‚ Steven Wozniak‚ and Ronald Wayne. Prior to the Apple’s beginnings‚Jobs had worked at Hewlett-Packard and the video game company Atari Inc. Wozniak also worked at HP where the two first met in 1972. It was Jobs who told his future partner about his idea of personal computers. The two began their journey in 1975 while working on the Apple I in Job’s bedroom. Wozniak later admitted that the project was more of a hobby than a business
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History of Apple Inc Apple‚ the name itself commands regard and admiration. The world renowned computer company is actually the brain child of perhaps one of the greatest innovators that history has ever witnessed – Late Mr. Steve Jobs. His untimely death has left a permanent hole in the heart of every computer and gadget enthusiast. Steve Jobs‚ with his brain child Apple Inc‚ in the true sense revolutionized the way the world listened to music and operated the traditional computers. The beginning
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Considering the Present Kanina Rollerson Ashford University: PSY 202 August 31‚ 2014 The first event that I choose was graduating high school. The reason I choose this event and experience is because no one in my family had ever graduated high school. My mother‚ father‚ nor my brother ever got a high school education. Although‚ my mother and father never married I can remember them both saying that they didn’t finish high school. My father got a GED but my mother still to this day doesn’t
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CALIFORNIA MARITIME ACADENY Vallejo‚ CA Apple Inc. by: Breanna 17 December 2011 EGL 001 Introduction to English Composition 1 Apple Inc. Do you own an iPod? Or how about a Mac computer? Apple products are very well known all around the world. Even though they seem like such a great product‚ it took their creator Steve Jobs and many helpful employees to perfect the iPod to how it is today. Jobs endured financial loss‚ risk of failure‚ threats‚ and lawsuits‚ and success
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The Leveraged Buyout of RJR Nabisco In 1988‚ a war was launched for the control of RJR Nabisco. It ended at the end of the year when KKR won the bidding war with a $ 109 per share offer and took RJR Nabisco private. Before the details of the leveraged buyout (LBO) are discussed‚ it is important to understand what made RJR Nabisco so attractive. RJR Nabisco was a conglomerate company that was involved in mainly two industries. It had divisions in the tobacco and food industries. In the tobacco division
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