Reviews the book, "Development of Information Systems: What Management Needs to Know," by Donald F. Heany.

This article reports on a study of the extent to which certain specialized accounting statements presented in accounting textbooks are actually used in practice. To determine the extent of use and form in which these statements are prepared, fifty bankrupt or liquidated companies in the six-year period were selected. These companies were contacted by mailed questionnaire. Each questionnaire was accompanied by a typical textbook model of the appropriate specialized accounting statement. In addition to the questionnaire information, examples of statements and numerous comments were also received. From these sample statements and comments it was clear that when statements are prepared in cases of bankruptcy or liquidation, they generally take on the configuration of the conventional balance sheet. It was concluded in the study that statements prepared for bankruptcy, liquidation, loan or credit purposes are rarely found in practice in the same form as is conventionally depicted in accounting textbooks.

This paper examines the resilience of banks as perceived by market participants during the COVID-19 crisis. We analyse how bank stock returns during January-March 2020 relate to the pre-crisis activation of macroprudential policy across 52 countries in a cross-sectional dimension. We find that, overall, a tighter macroprudential policy stance is beneficial for bank systemic risk, as assessed by equity market investors. A robust finding is that a perceived decrease in bank risk stems primarily from the use of credit growth limits, reserve requirements, and dynamic provisioning. By contrast, a pre-crisis build-up of capital surcharges on systemically important financial institutions seems to lower bank stock returns. Alternative bank risk indicators suggest that the latter is likely to be driven by concerns about profits rather than the probability of default.

Journal Article Resource Allocation in a Non-convex Economy Get access James C. Moore, James C. Moore Purdue University Search for other works by this author on: Oxford Academic Google Scholar Andrew B. Whinston, Andrew B. Whinston Purdue University Search for other works by this author on: Oxford Academic Google Scholar Joseph S. Wu Joseph S. Wu Purdue University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 39, Issue 3, July 1972, Pages 303–323, https://doi.org/10.2307/2296361 Published: 01 July 1972 Article history Received: 01 April 1971 Revision received: 01 November 1971 Published: 01 July 1972

ABSTRACT This study re‐examines the earlier finding of Alderson and Chen (1986a) that financial markets do not consider excess pension assets in determining share prices and that significant increases in shareholder wealth occur when an overfunded pension plan is terminated. The results document that specific event‐time contamination (corporate restructuring announcements) provides the driving force for all the earlier findings.

In this paper we evaluate empirically the relative importance of two explanations of Yugoslav interindustry income differentials. One explanation, proposed initially by Vanek and Jovicic [1975], stresses capital market imperfections which permit capital rents to be appropriated as workers' incomes. The second explanation points to labor allocation problems under self-management. We first present a critique of the Vanek-Jovicic original formulation and then respecify the problem to permit simultaneous evaluation of the two schools of thought. Results based on two data sets suggest that labor allocation factors and monopoly power rather than capital rents are the main source of Yugoslav earnings dispersion.

In 2001 a large and sustained supply shock halted a heroin epidemic in Australia. We use drug offenses to identify individual opioid users and examine how the shock affected their mortality risks and criminal activity over the next eight years. Initially, gains from fewer overdoses are offset by drug substitution and more crime, including homicides. Most adverse effects dissipate over time, whereas persistent mortality reductions save the lives of around one in 48 individuals in our sample. Our results demonstrate that reducing the supply of illicit opioids can lead to meaningful longer-term improvements, even when the short-term effects are ambiguous.

We document a within-month mortality cycle where deaths decline before the first day of the month and spike after the first. This cycle is present across a wide variety of causes and demographic groups. A similar cycle exists for a range of economic activities, suggesting the mortality cycle may be due to short-term variation in levels of economic activity. We provide evidence that the within-month activity cycle is generated by liquidity. Our results suggest a causal pathway whereby liquidity problems reduce activity, which in turn reduces mortality. These relationships may help explain the procyclical nature of mortality.

Individual food consumption data are used to examine three issues. First, is food consumption linked intertemporally at the individual level? Second, does the association between current and past consumption reflect habit or heterogeneity? Third, what do the estimates imply about the intertemporal elasticity of substitution? The authors find that habit matters, that controlling for heterogeneity reduces estimated habit effects, and that the product of the estimated intertemporal elasticity of substitution and the risk aversion parameter is less than one. These results all lead to rejection of time separable specifications of intertemporal consumption behavior. Copyright 1996 by MIT Press.