Revista de Contabilidad - Spanish Accounting Review 2011, V. 14 N. 1
Ir a Estadísticas
Permanent URI for this collection
Browse
Recent Submissions
- PublicationOpen Access¿Cómo actúan las empresas frente a la dependencia económica del auditor?: el papel del Comité de Auditoría(2011) Biedma López, Estíbaliz; Ruiz Barbadillo, Emiliano; Gómez Aguilar, NievesLa dependencia económica del auditor respecto de su cliente es considerada una amenaza para su independencia. El comité de auditoría puede actuar como salvaguarda, sin embargo, es una medida creada por la empresa auditada y de ella depende que cuente con las características necesarias para ser eficaz. Este trabajo analiza si las empresas gradúan el nivel de independencia del comité de auditoría dependiendo del nivel de dependencia económica de su auditor. Aplicando la técnica de datos de panel a una muestra de empresas españolas cotizadas entre los años 1998 y 2005, los resultados confirman la existencia de una relación significativa entre el nivel de independencia del comité de auditoría y el nivel de dependencia económica del auditor, siendo las empresas con auditores menos dependientes las que forman comités más independientes. Estos resultados suponen una importante contribución a la literatura previa en tanto que aportan evidencia sobre la estrategia seguida por las empresas en el diseño conjunto de mecanismos de garantía de la calidad de la información financiera. Asimismo, se han obtenido teniendo en cuenta algunas de las limitaciones metodológicas que han sido señaladas como principales obstáculos en las investigaciones sobre gobierno corporativo, tales como la endogeneidad y la heterogeneidad inobservable
- PublicationOpen AccessDo progressive governments undertake different debt burdens? Partisan vs. electoral cycles(2011) García-Sánchez, Isabel-María; Prado-Lorenzo, José Manuel; Cuadrado-Ballesteros, BeatrizPublic debt has traditionally been explained mainly by two political factors: a progressive ideology and the electoral cycle. The aim of this paper is to demonstrate how these two factors influence the behavior of Spanish local governments as regards indebtedness, and also how indebtedness is influenced by the interaction of ideology and the electoral cycle. Different dependence models were estimated using panel data methodology based on a sample comprised of Spanish provincial capitals and towns with populations over 50,000, for a total of 148 town councils. The time frame corresponds to the fiscal years 1988 to 2008, inclusive. The results show that in an electoral year all politicians behave opportunistically, giving rise to an important increase in public debt in relation to municipal revenue, although progressive incumbents incur three times more debt than those of the opposite ideology. Moreover, the presence of conservative parties in government has tended to significantly attenuate this behavior in years prior to elections, whereas progressive or left-wing parties have not. It must also be noted that partisan and electoral business cycles have been mitigated since 2002, when the Budgetary Stability Law came into effect, imposing limits on the debt of subnational administrations. The empirical evidence obtained points to the need to perfect internal and external control mechanisms in order to avoid a breakdown in the stability policy and the risk of debt becoming untenable, thus achieving greater budgetary discipline
- PublicationOpen AccessEvaluation patent portfolios by means of multicriteria analysis(2011) Wang, Xiaolu; García, Fernando; Guijarro, Francisco; Moya, IsmaelValuation of intangible assets is a complex topic where traditional methodologies are not always successful. Nevertheless, intangible assets, like patents, have become of great importance to companies, as their value is considered to be relevant economic and strategic information, so it is necessary to evaluate firms’ patent portfolios. The present research introduces an extended goal programming model to calculate the relative importance of the patents of companies in a patent pool. This information may be useful for patent valuation as well as for management purposes. The proposed multicriteria methodology has been applied to the 19 companies in the MPEG2 patent pool, with a total of 770 valid patents, using 7 criteria to obtain a composite measure of the relative position of the firms in the patent pool
- PublicationOpen AccessInforme de la Directora sobre al gestión de la revista en 2010(2011) Directora
- PublicationOpen AccessOptional accounting criteria under IFRSs and corporate characteristics: evidence form Spain(2011) Aledo Martínez, Juana; García Martínez, Fernando; Marín Diazarique, Juan MiguelThe adoption of the IFRSs by EU member States in 2005 represents one of the most relevant events that have taken place to achieve the convergence of international accounting standards. In this article, we examine the annual reports of the groups listed on the Spanish Continuous Market that adopted IFRSs in 2005 in order to determine the optional accounting criteria they apply under IFRSs and, secondly, identify corporate characteristics affecting these choices. Because there are important differences across countries as a consequence of different institutional frameworks, the mandatory IFRSs adoption is an opportunity to analyze its economic effects. The main finding of this study is that Spanish groups apply the most conservative criteria to limit the number of changes they introduce related to the previous local GAAP, particularly in regards to presentation and measurement options. Additionally, we find that corporate characteristics such as industry, return on equity, size and type of audit firm (Big Four vs. non-Big Four) influence the choice of accounting methods used to prepare their financial statements. The analysis of these results provides a basis for discussion between responsible international standard setters (such as IASB and FASB) and regulators to work towards the convergence’s goals