cal Results 29 Chapter 6: Conclusion and Implications of the Research 35 6.1 Objectives and Summary of Research 35 6.2 Summary of Results, Comparison with Previous Research Findings 36 6.3 Discussion and Conclusion 37 References 39 Appendices 51 Chapter 1: Accounting Restatements 1.1 Introduction The occurrence of the accounting restatements has amplified considerably in the recent period. For instance, in the United States alone, the count of accounting restatement declarations increased from 90 to 1,577 during the period 1997-2006 (Scholz, 2008). Consequently, there has been a development of keen interest in the reasons as well as the outcomes of the accounting restatements (Palmrose & Scholz, 2004; Hribar & Jenkins, 2004). One of the significant findings from the previous studies on accounting restatements is the extensive loss in market value that occurs when a company issues its financial restatements. This loss is around 9% across all financial restatements while it is greater than 20% when the accounting restatement is believed to be fraudulent or instigated by the auditor (Palmrose & Et. Al, 2004). The General Accounting Office (GAO) identified a loss of around $100 billion in the market value of the 689 public companies that issued accounting restatements in the phase between 1997 to 2000 (GAO, 2002). There are several factors that can possibly impel the companies to issue financial restatements. Some of these factors are flaws in corporate governance (Ebrahim, 2007; Agrawal & Chadha, 2005), managers’ inducements to inflate the prices of their stock option or obtain finance at favourable rate of interest (Erickson & et. al. 2006; Beneish 1999; Richardson & et. al. 2002, Carcello & Palmrose 1994), and inferior auditing services among others (Francis et al. 1999; Becker et al. 1998). According to researches, the occurrence of financial restatements not only impacts the financial health of the company but also its corporate governance traditions which is again subjective to the inclusion of the institutional investors (Baber & Et. Al., 2009). This research study would focus on the association existing amid corporate governance of the public companies listed in the London Stock Exchange and their reluctance or non-reluctance of restating financial statement. The study would be conducted contemplating the influence of institutional investors on the corporate governance of the publicly listed companies. 1.2 Motivations for Studying the Issue Several studies corroborate the rising occurrences of accounting restatements by the public companies in the US and the UK. The structure of institutional ownership helps in the identification of the divergence of interest between the institutional investors and the public companies of these countries. Nevertheless, there are not many researches that have been confirmed to be effectual in compiling these facts and comprehensively signify the correlation between the recognized factors (Audit Committee Institute, 2007). Furthermore, the accounting standard practiced in the public companies of UK had been altered lately so as to eliminate the occurrence of irregularities in the presentation of financial statements. This change in the accounting practices of the UK public companies also influenced the institutional ownership, in addition to the interests of managers in terms of
The occurrence of the accounting restatements has amplified considerably in the recent period. For instance, in the United States alone, the count of accounting restatement declarations increased from 90 to 1,577 during the period 1997-2006 …
Dissertation Proposal Table of Contents 1.0 Research Title 3 2.0 Introduction 3 3.0 Research Question 5 4.0 Aim and Objective of the Study 5 5.0 Rational and Justification for the Study 7 6.0 Methodology 8 7.0 Research Structure 10 7.1 Time Table for the Research 13 8.0 Literature Review 15 8.1 A Brief Introduction of the UK Stock Exchange Market (LSE) 15 8.2 Investor Relations in the UK Stock Exchange Market 16 8.3 Institutional Ownership and Earnings 17 References 19 Bibliography 24 1.0 Research Title Accounting Restatements and Institutional Ownership: The Case of the UK 2.0 Introduction Evidences have revealed that the instances of accounting restatements have increased considerably since
However, it was argued that not all of the firms that have adopted the said strategies have experienced the intended performance. It is because of this that recent accounting literature has suggested the importance of accounting systems.
From the discussion it is clear that Kernott v Jones has provided clarity to property ownership of unmarried couples. The case shaded light on how the case such as that involving Mr Kernott and Ms Jones should be handled in the future. It also brought a different approach of imputation and inferring into perspective to cases of such nature.
Factors causing price volatility in the housing market 14 3. Methodology 21 3.1. Case study: The Joseph Rowntree Housing Development 23 4. Findings & Analysis 27 5. Conclusion 28 Bibliography 29 1. Introduction: “The UK housing market is deeply divisive, socially and geographically.
Cultural influences changes over time as old patterns gradually give way to the new one. Today, leisure time becomes wider in scope such that the old pattern of spending it in pub houses is slowly changing to home environment and spending time with the family.
The research used quantitative methods of data collection and analysis and used a survey method of data collection. It involved 50 employees in the survey, five each from the ten selected stores. The stores and the employees were selected using judgemental convenience sampling method.
IFRS was introduced in 2005 by the European Union and the quoted companies in the UK are required to adopt IFRS in their financial reporting. The discussion covers the level of compliance with IFRS by the companies and the disclosure of the accounting policies as per the IAS and other information in the implementation.
Accounting Restatements and Institutional Ownership: The Case of the UK 2.0 Introduction Evidences have revealed that the instances of accounting restatements have increased considerably since the past years. The numbers of companies filing restatements with SEC (Securities and Exchange Commission) reached 25000 during the year 2005 and the initial nine months of the year 2006 which was evidently a record increase in the accounting history (Turner & Weirich, 2006).
For this regard, the researcher formed a systematic approach where the dissertation was divided into five different chapters. The introduction chapter offered an introduction of the research topic along with discussing its importance and relevance in the social environment.
The background will pave way for a discussion of the research problems and the formulation of core research questions and research processes. The chapter will also provide an exegesis to the scope of study and the outline and structure of the research that will be conducted in the entire study.
24 pages (6000 words)Dissertation
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