Lobbying bei der Rechnungslegungsstandardsetzung. Ein Literaturüberblick

Research into the impact of lobbying on accounting standard setting has a decades-old tradition in international accounting research. Due to the changes brought about by the European Union’s IAS regulation as well as the application of new research methods this research topic has recently gained renewed relevance. The present article surveys the empirical literature on lobbying the accounting standard setter in Anglo-Saxon countries, discusses the transferability of this literature’s results to the new situation in the European Union and offers a perspective on current research topics.     

Long-Run Identification in a Fractionally Integrated System

We propose an extension of structural fractionally integrated vector autoregressive models that avoids certain undesirable effects on the impulse responses that occur if long-run identification restrictions are imposed. We derive the model’s Granger representation and investigate the effects of long-run restrictions. Simulations illustrate that enforcing integer integration orders can have severe consequences for impulse responses. In a system of U.S. real output and aggregate prices, the effects of structural shocks strongly depend on the specification of the integration orders. In the statistically preferred fractional model, shocks that are typically interpreted as demand disturbances have a very brief influence on GDP. Supplementary materials for this article are available online.     

Flexible Latent‐State Modelling of Old Faithful's Eruption Inter‐Arrival Times in 2009

This paper is concerned with the analysis of a time series comprising the eruption inter‐arrival times of the Old Faithful geyser in 2009. The series is much longer than other well‐documented ones and thus gives a more comprehensive insight into the dynamics of the geyser. Basic hidden Markov models with gamma state‐dependent distributions and several extensions are implemented. In order to better capture the stochastic dynamics exhibited by Old Faithful, the different non‐standard models under consideration seek to increase the flexibility of the basic models in various ways: (i) by allowing non‐geometric distributions for the times spent in the different states; (ii) by increasing the memory of the underlying Markov chain, with or without assuming additional structure implied by mixture transition distribution models; and (iii) by incorporating feedback from the observation process on the latent process. In each case it is shown how the likelihood can be formulated as a matrix product which can be conveniently maximized numerically.     

Three estimators for the poisson regression model with measurement errors

We consider two consistent estimators for the parameters of the linear predictor in the Poisson regression model, where the covariate is measured with errors. The measurement errors are assumed to be normally distributed with known error variance σ _u ² . The SQS estimator, based on a conditional mean-variance model, takes the distribution of the latent covariate into account, and this is here assumed to be a normal distribution. The CS estimator, based on a corrected score function, does not use the distribution of the latent covariate. Nevertheless, for small σ _u ² , both estimators have identical asymptotic covariance matrices up to the order of σ _u ² . We also compare the consistent estimators to the naive estimator, which is based on replacing the latent covariate with its (erroneously) measured counterpart. The naive estimator is biased, but has a smaller covariance matrix than the consistent estimators (at least up to the order of σ _u ² ).     

Success of research-based spin-offs. State-of-the-art and guidelines for further research

The topic of this paper is research-based spin-offs from public organisations. The initial point is a discussion about the economic benefit of such companies. The paper investigates factors influencing the generation, development, and growth of research-based spin-offs built on scientific know-how or research results. An analysis of previous empirical studies allows the identification of three main groups of success factors, concerning the founder, the environment, and the later company itself. Based on Gartner’s framework of new venture creation—used as a structure-building tool and substitute of entrepreneurial theory—we give an overview of entrepreneurial success factors. We also identify inconsistencies and gaps in empirical evidence and guidelines for further research. Particular explanation seems to be necessary for incentives, ideas, and incubation environments, all having an impact on formation and performance of spin-offs.      

Dysfunctional Transactions and Therapeutic Functions: An Evolutive Model

The present study is a result of an interdisciplinary team's work, where a physicist, a family therapist and a developmental psychologist try to share their knowledge and epistemologies. In this kind of conflictual companionship, models of one discipline are tentatively applied to another. This doesn't imply that the different disciplines are isomorphic, but it provides for unusual frames of reference: questions, possibly essential ones, are reformulated in a new language, or in a perspective which was not accessible within the conceptual framework developed for one particular discipline. Our experience is that this kind of effort, in itself a provocative learning experience, is also conducive to original tentative answers in all disciplines involved. Be they of theoretical or experimental nature, it is then up to the specialists of these disciplines to validate the evolved propositions in terms of their own categories.