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The Role of Productive Thinking in Affecting Student Learning with Microcomputers in Accounting Education

A. Faye Borthick; Ronald L. Clark
The Accounting Review 1986 61(1), 143-157
[This study investigates the role of productive thinking in affecting student attitudes toward, and performance with, microcomputer spreadsheet programs in a managerial/cost accounting course. Productive thinking is defined as thinking based on an understanding of the nature of problems rather than on memorization of facts and rules. In this experiment covering two academic quarters, students initially indicated strong desire to use microcomputers, but their enthusiasm diminished after the classroom experience with their use. Although there was no performance difference across integrative versus non-integrative assignments, performance was positively related to previous computing experience. Students did feel, however, that computers should be used in other accounting courses. Students also reported that they experienced greater learning with integrative course assignments than with repetitive, non-integrative assignments. This finding suggests that a benefit of computer use in teaching accounting may be the opportunity it offers for problem solving based on understanding rather than on memorization.]

Capital raising, underwriting and the certification hypothesis

James R. Booth; Richard L. Smith
Journal of Financial Economics 1986 15(1-2), 261-281
This paper develops a theory of the role of the underwriter in certifying that risky issue prices reflect potentially adverse inside information. The theory derives from the literature on the use of reputational capital to guarantee product quality. An underwriting cost/benefit paradigm is employed to generate testable implications related to announcement effects, issue underpricing, the choice of competitive versus negotiated underwriting, and the level of underwriter compensation as a function of firm-specific information. Existing empirical literature is reviewed in the context of the certification hypothesis and several new tests are conducted. All of the findings are supportive of the hypothesis.