Level Of Reputation Research Articles

Coûts d'agence et changements de commissaire aux comptes : une approche empirique

Cette etude s’interesse au role des couts d’agence du financement dans la decision de changer d’auditeur et de modifier la reputation des auditeurs de societes cotees. Les principes theoriques suggerent une relation positive entre le niveau ou l’evolution des couts d’agence et la reputation des verificateurs. Une analyse univariee et logistique de 41 changements et 44 renouvellements de commissaires aux comptes (CAC) entre 1996 et 1998 montre que la decision de changer (vs. renouveler) d’auditeur resulte essentiellement d’une contrainte reglementaire (resorber les co-commissariats non effectifs). Par ailleurs, une augmentation de l’endettement financier sur les six derniers exercices incite les societes a nommer des CAC plus reputes, confortant ainsi l’hypothese que la credibilite requise des chiffres comptables est sensible aux couts d’agence induits par une politique d’endettement.

The Impact of Reputation on the Informativeness of Earnings and Accounting Choices

The article hypothesizes that the level of reputation affects both the informativeness of earnings and the magnitude of discretionary accounting accrual adjustments. The hypothesis exploits the following: the positive relationship between reputation and firms' risk‐return profiles, and managers' incentives in using discretionary accounting accrual adjustments. Results show that reputation is positively associated with earnings' explanatory power for returns, and related to the magnitude of accounting accrual adjustments.

The Legal Significance of Trustmarks

To help them attain the ultimate goal of selling their goods and services, Netstores adorn their websites with graphics, information and unimaginable details of all sorts as well as peppering them with both conspicuous and hidden 'metatags' to attract more visits ('hits') than others, pay higher fees for search engine providers ('portals') to place themselves at the head of the list of favoured sites. The use of special tags, 'trustmarks' or logos that indicate some level of believability and reputation, is on the rise to add to the success in that scramble. While it has taken many international companies a succession of decades to establish trust and confidence in the line of business or type of wares and services they have offered to their customers, the current wave of start ups feel hard pressed to succeed fast in the 'Wild Web' or else perish with the same speed that they sprout. There is a growing general expectation that a declaration of good business practices and specific standards ('codes') of conduct, including the execution of measures against the recalcitrant, to guide the concerned industry (on the Internet) could instil such trust in Netconsumers. Study after study has showed that consumers worry about the privacy and security of e-commerce and desist from transacting for fear that their details (including credit card numbers) might be intercepted by hackers, that they would be duped into transacting with parties which do not exist, or supply what they promise but do so defectively leaving the buyers without any adequate or clear avenue for legal redress. This article seeks to examine the legal status of trustmarks, or seals of approval, and the rights and liabilities they engender. Section 1 sets the stage by detailing briefly the kind of practises that compromise the security of computer networks and the Internet. Section 2 explores the rationale for the creation of trustmarks. Section 3 surveys and compares the main types and state of development of trustmarks across the world. Section 4 appraises the issues of potential liability that might follow from their use or abuse. Section 5 considers the proprietary aspect of trustmarks and the protection that may be available to them. The conclusion highlights the need to find solutions to the increasing confusion and overlaps that have emerged with the proliferation of trustmarks both within single states and across them.

Implicit Band within the Announced Exchange Rate Band

The paper provides an explanation to the policy of implicit exchange rate bands. Especially when introducing a new exchange rate band or modifying the old one, central banks often intervene intra-marginally, targeting a narrower band than that announced. The theoretical literature provides little clue to understand this phenomenon. The models either do not differentiate between the mechanism of announced (known) and implicit (unknown) exchange rate bands, or fail to account for the central bank's incentives in exchange rate policy. I present a model, which both distinguishes the announced from the true target zone and endogenizes the choice of the bandwidth. I argue that implicit bands are a mean to signal the objectives of exchange rate policy. Announcement of the bandwidth cannot credibly do this, since it is not binding for the central bank. That is, the announcement is only partially believed. On the other hand, the choice of the actual bandwidth may serve as a costly signal. Since stability-concerned central banks are more likely to accept the costs of intervening intra-marginally, narrow implicit bands may effectively communicate the preferences for exchange rate stability. I conclude that a low level of reputation and a high concern of exchange rate stability both make the policy of implicit band more likely.

Effects of Teacher Feedback on the Reputations and Peer Perceptions of Children with Behavior Problems

We explored whether teacher feedback modified children's preferences and perceptions of a target child with behavior problems. First- and second-grade children (M age = 7.8 years) viewed a videotape of a target actor presented as having a liked, average, or disliked reputation. A second videotape depicted a teacher's verbal responses to the target's behavior as (a) positive, (b) neutral–salient, or (c) corrective. Both salience and valence of teacher feedback were assessed. Main effects of feedback and reputation indicated that feedback had at least minimal effects at each level of the target's reputation. Teacher feedback is discussed with respect to its effects on perceptions of behavior versus affective responses toward behavior-problem children. A significant interaction showed that when combined with a liked reputation, positive and neutral–salient feedback conditions increased the salience and positive evaluation of the target child, thus illustrating the importance of considering nonevaluative teacher attention in combination with children's reputational status.

Continuous time vs. backward induction a new approach to modelling reputation in the finite time horizon context

This paper suggests a new approach to modeling credible reputation in the finite time horizon context, using continuous time and interactions which arrive via a Poisson process. Behavior in the present model does not depend on small ad hoc irrationalities as the end of the horizon nears, and the model preserves the intuitive result that as the end of the horizon nears, the level of reputation declines towards zero. While the current paper considers the predatory pricing case, the approach should also apply whenever reputation and/or cooperation are important.

An Empirical Examination of The Relationship Between the Background Characteristics of The CEO and Overall Corporate Reputation

This paper examines the relationship between the overall corporate reputation of an organization and the background characteristics of the Chief Executive Officers (CEOs) across twenty-one major industry classifications. Four background characteristics are examined: (1) age, (2) tenure with the company, (3) tenure as CEO, and (4) functional background (career path). These characteristics are explored by examining the overall corporate reputation of the organization through a proxy, the Fortune Corporate Reputation Index. Drawing on past research in the area of background characteristics (Hambrick and Mason, 1984) and corporate reputation (Fombrun and Shanley, 1990), hypotheses were tested which examined the background characteristics of CEOs and the company’s overall corporate reputation. The results of this paper show that, in general, the CEO's background characteristics impact the level of overall corporate reputation of the firm. The type of functional background of the CEO has a significant positive impact on the level of overall corporate reputation. Over a four-year time period (1990 to 1994), age, tenure with the company, and tenure as CEO were negatively related to the overall corporate reputation of organizations that retained their CEO. For firms that had replaced the CEO, a positive relationship between overall corporate reputation and tenure with the company and age was discovered.

A Sequel to the First Six Books of the Elements of Euclid, containing an Easy Introduction to Modern Geometry, with numerous Examples

THERE are many geometrical results which are not directly formulated or stated in Euclid's Elements, which are yet constantly turning up in the solution of geometrical problems, and it is very desirable to have a handy book of reference, the propositions in which may be cited, so obviating the necessity of a lengthy proof. The “Exercises on Euclid and in Modern Geometry” of Mr. McDowell is a useful book for this purpose, as all th,e propositions are fully worked out. Dr. Casey, in the course of teaching, has frequently had to contend against the defect above referred to, and had to interrupt the course of the demonstration of an advanced proposition by turning on one side to prove some well-known result, because he could not cite Euclid as an authority for it This handy little book, which appears to us quite up to the level of the author's reputation as a geometer, is intended to meet this felt want, and paves the way to a deeper study of the modern geometry contained in the exhaustive works by Chasles, Townsend, Mulcaby, and many Continental writers. A great number of classical problems are led up to, and they themselves discussed and established. The size and style of the book fit it for use in the higher forms of our schools, and more advanced students will find it a convenient book for citation.