The Impact of Corporate Governance and Fair Value Accounting on Debt Contracts

This paper investigates the theoretical relationship between corporate governance,fair value accounting,and debt contracts.It primarily examines the individual impacts of corporate governance and fair value accounting on debt contracts,while also exploring the influence of corporate governance on fair value accounting.The study emphasizes the importance of considering the interests and legal status of creditors in the context of debt contracts.The findings indicate that strong corporate governance can reduce the likelihood of debt default and that the company’s restructuring costs in the event of a default determine whether improved corporate governance will increase or decrease debt costs.Additionally,the study reveals that the strength of corporate governance affects the value relevance of fair value accounting.However,the impact of fair value accounting on debt contracts is not inherently positive or negative;for instance,companies may use fair value adjustments with manipulative intent to enhance performance.Ultimately,the research highlights that discussions about corporate governance should not prioritize shareholder interests exclusively but also consider the legitimate position of creditors.

On the Distributive Justice of Land Added Value in the Process of Urban Expansion

It is an unarguable fact that the urban-rural dual structure led to two different results. On the one hand,it had been playing a great role in the city development and prosperity,and on the other hand,it had led the slow development of rural economy and the income gap between rural and urban areas. The government makes efforts to promote the process of urbanization to maintain the sustained development of China's economy and economic transformation which are the two needs of the Chinese reality. But in the top-level design of the policy,the government did not give a fair profits distribution to all social groups. On the contrary,the result of urban development is based on the expense of a part of the people's interests in exchange for the interests of another parts of the people,and especially on the government expropriation in the process of urban expansion. Under Land Administration Law of the People's Republic of China,the government monopolized the expropriation right of the rural land,and the rural collectives and farmers as the land owner and constructors respectively have no rights to decide the land use purposes. In fact,they are forced to accept the land compensation,and because of the little bargaining rights,they gain little from the land value increment. Comparatively,the governments became the biggest beneficiary who made use of the land as a source and capital to earn the achievement in their official career and more money required by the urban development. The paper mainly analyzes the current situation of the distribution of the land added value,elaborates the reasons why the government strives for the land interests,and discusses what farmers lose in the government expropriation. Last but not lest,the author reflects on the land reform and gives a proposal on distribution of land added value.

Discussion of the Relationship between Fairness and Efficiency——Based on Rawls'“A Theory of Justice”

Since China’s reform and opening up,from the Third Plenary Session of the 14th Central Committee of the Communist Party of China that put forward"efficiency first and fairness"to the 18th National Congress of the Communist Party of China,"first distribution and redistribution must deal with the relationship between fairness and efficiency,and redistribution pays more attention to fairness"Distribution policy,in 2021,the tenth meeting of the Central Finance and Economics Committee clearly stated that it is necessary to promote common prosperity in stages.The relationship between fairness and efficiency has always been the basic principle and standard for the country to formulate policies,and it is also the core issue discussed by scholars.Both utilitarianism and Rawls'two principles of justice provide us with different perspectives to explore the relationship between fairness and efficiency.This article focuses on Rawls's critique of utilitarianism and the specific content of the two justice principles,and makes a simple discussion on the relationship between fairness and efficiency and its enlightenment on the formulation of distribution policies in our country.

Poetic Justice: Novel Reading and the Perfection of Human Public Value

Taking novels as the breakthrough point,the American thinker,Martha C.Nussbaum,strongly criticizes the materialization of human beings by economic utilitarianism and legal economics,as well as the estrangement and indifference between human beings in the book Poetic Justice:The Literary Imagination and Public Life.Through being read,the novels enter into the field of public life,expand the area of human emotion,preach human justice and promote the perfection of human values.

Valuing options to renew at future market value:the case of commercial property leases

In this study,we develop and empirically test a valuation model for a commonly encountered option in office leases:a tenant’s option to renew at future market rent(a fair market value)with lease termination as the maturity date.The model integrates decision analysis with real options analysis and market risk with private risks.“Option value”is defined as the private value of the option to either party pre-contract,while“option price”assumes a fair agreement between transacting parties and can be positive(rental premium paid)or negative(rental discount offered).Without manifest expectations,an analysis of a sample of office leases supports the model’s logic with price estimates in a practical range.The tenants’option price/value is shown to have a negative relationship with the original/renewal lease term;conversely,the landlords’option value is positively related to the original/renewal term.Comparative analyses show that transaction costs have a positive effect on tenants’option value and on prices,while vacancy costs and the vacancy period are both positively related to the landlords’option value and negatively related to price.Market rent is found to have a negative relationship with option price.Overall,this study provides a theoretical analysis and empirical tests of the value of a real option that allows option holders to renew/extend their contracts at a fair market value.

Organizational Justice and Gender Equity:The Contingent Effect of Islamic Work Ethics

Organizations are facing challenges to cope with gender equity in the presence of a diverse workforce.The present study investigates the moderating impact of Islamic work ethics on the organizational justicegender equity relationship.Self-administered questionnaires were sent to employees working in a large private university in a State of Qatar.This study collected data from 250 employees with 66.12%response rate.The present study employed structural equation modelling to analyse data in SmartPLS 3.0 and SPSS version 24.Empirical findings revealed the significant relationship of distributive justice and interactional justice with gender equity.Procedural justice did not relate to gender equity.Furthermore,Islamic work ethics also moderated the relationship of interactional justice with gender equity.Limitations and implications have been added at the end of paper.This study is first in its nature revealing the conditional factor of Islamic work ethics on the organizational justicegender equity relationship.

Fair Value Disclosure, External Appraisers, and the Reliability of Fair Value Measurements

By developing an analytical model, this paper examines the role of the ＂external appraiser＂ as a tool to face the informational asymmetry issue related to fair value measurements. A comparison between such a signaling mechanism and a ＂full fair value disclosure＂ is firstly carried out, highlighting variables affecting the efficiency and the effectiveness of both information strategies. Then, recovering the traditional distinction between ＂protective disclosure＂ （hard information） and ＂informative disclosure＂ （soft information）, this paper demonstrates how the former could significantly increase the positive effects associated to an employment of an independent valuer, reaching some conclusions useful to the standard setting process.

On legal value of mediation——from the view of jurisprudence

Mediation is becoming more and more important in the process of settling conflict nowadays,so it’s quite necessary to explain the legal value of mediation from the view of jurisprudence.

Controversies over fair value accounting： The case of SMEs

This study analyses IASB＇s stipulations on fair value usage in its standard designed for SMEs and the reactions of national standard setters, preparers and users of financial reporting in this respect. It tries to clarify fair value applications such as market value and value in use and the appropriateness of their usage for the case on hand. This research determines the inconsistencies within IASB ED IFRSfor SMEs （2007） related to the usage of fair value, underlined by the respondents＇ comment letters. The content analysis of all the above, conducted according to the type of economy and nature of respondent, along with the statistical techniques applied, indicates a partial approval of fair value usage under the following conditions： clarification of the concept, details on its usage in relation to market liquidity and the nature of the asset, additional guidance regarding the measurement methods. We advocate for the value in use, an application of the fair value based on internal valuations, which offers an adequate cost-benefit rate. The final version ofIFRSfor SMEs highlights both the preference of market information over the internal valuations and the insufficient information regarding solutions suited for non-liquid markets. It may be appropriate for the IASB, maybe in collaboration with the IVSC, to provide guidance and details regarding the implementation and disclosure of the valuation techniques applicable to this type of entities.

Importance of Synergistic Value in the Context of Business Combination： A Case Study From Turkey

Considering International Financial Reporting Standards （henceforth IFRS）, although fair value is suggested in the conceptual framework and related standards, concept of measurement is used instead of concept of valuation. Determining the fair value of the acquiree specific into business combination, is needed to identify the fair value of the valuation made beyond the measurement of either monetary items or non-monetary items in the financial statements. Essential reason of the difference between acquired entity＇s fair values as a basis of financial reporting standards and valuation standards, the fair value according to IFRS is equivalent to the market value according to International Valuation Standards （henceforth IVS）. The fair value in accordance with IVS, the combination of the market value, and the synergistic value of the asset are subject to valuation in terms of special purchaser. When business is concerned, considering parameters such as the position in the industry, brand awareness, intellectual capital, geography, cannot be expected to be equal to the fair value of business which simply consists of market value among market participants. The ultimate aim of the study is to illustrate how to determine synergistic value in the terms oflVS which shows the difference between the market value and fair value. Based on the findings of the study, if acquired assets and liabilities are recognized in accordance with IFRS, goodwill comes out during the acquisition. Though, when fair value is determined based on IVS, goodwill is not found, even profitable business combination is realized. This is the result of considered fair value based on IVS Framework, that is the combination of market value of an asset in question and total synergistic value.

Racial Disparities in the United States Criminal Justice System:“With Liberty and Justice for All?”

Racial discrimination remains a prevalent issue in the contemporary U.S.despite efforts to promote equality.Many young African American and Hispanic males are easy target for law enforcement agents.Minorities experience a higher and more unfair form of racial discrimination,racial profiling,police brutality,unfair sentencing,and mass incarceration for offences which are the same or less than those committed by White males.The rate of incarceration in the United States is five to eight times higher than most developed countries,and Black males constitute the largest percentage of inmates in the U.S.prison system.Once arrested,Black Americans are more likely to remain in prison longer,and await trial for minor offenses at a higher rate than Whites.Black and Latino males sentenced in state and federal courts face significantly greater odds of incarceration than White offenders for the same or even higher crimes.Vagins and McCurdy in a 2006 ACLU on“cracks in the system”reported that“There is no rational medical or penological reason for the 100:1 disparity between crack and powder cocaine and instead it causes an unjustified racial disparity in our penal system”(p.7).There is a racial disparity in the proportion of Black males in prison serving sentences of life without the possibility of parole(LWOP).In addition,The United States Criminal Justice System needs to be carefully examined as a top priority agenda needing immediate call of action that needs reform to guarantee the constitutional rights accorded to every American“with liberty and justice for all”.

The defects of fair value under global financial crisis

With the advent of the economic crisis, fair value once again becomes a hot topic. This paper discusses the issues of fair value from three aspects including the meaning of fair value, its serious impacts and its inapplicability in China. As for this point, this paper stress that the rub of the fair value is its inaccurate recognition elements which will inevitably lead to the inaccurate measurement. Finally, the paper puts forward the viewpoint that China should be careful enough to apply the fair value accounting.

Interrelations With Forms of Corruption in the Political Sphere and Its Causal Conditions in Mongolia (the Final Part)

Corruption,which is a serious problem for us today,covers a wide range of social and political phenomena and processes,from the normal functioning of ordinary citizens to the forms and structures of political governance.In particular,the personality is determined by the way of life,the environment,and the needs of the family and social group,and then a political ideology is formed based on the multifaceted interests of social groups,which are expressed in complex social,economic,and political forms.Indicators of the extent to which social well-being is achieved in developing democracies raise questions about whether citizens are united in their views and actions,as well as how they participate and are interested in social and political activities.On the other hand,this is reflected in the differences in views and the level of trust in the government and other social institutions,and as an important tool for determining the development of the country.It is necessary to determine the level of social and political participation.This is the root cause of the problem.Because every democracy is very different,to understand how they affect human development,and to be a social person,people need to be able to provide a little economic security and an understanding of the issues at stake.This is the basis for building a transparent society based on the principles of zero tolerance for corruption,justice,equal participation,and equality.That is why in this subsection we explore the relationships between political parties,groups,political,business,and criminal groups in the form of political corruption,as well as the causes of political corruption in the political sphere.

The Scope and Type of Political Corruption in Mongolia(Analysis of Expert Evaluation)

Democratic culture is a matter of establishing rule of law and protecting human rights,as well as good governance,effective administration of state resources,proper use of power,and conflict of interest.Therefore,democracy is not only a manifestation of the globalization process,but also the pursuit of perfect democratic mechanisms and mechanisms in many democracies and the opportunity to fully monitor the integrity of governmental institutions and to strengthen their governance power.We aim to base this research paper on facts and the following aspects.It clarifies that the following approaches to:(i)the degree of corruption in the political sphere;(ii)the nature of political corruption,its status,and prospects,as well as the changes that have occurred in it,based on the analysis of the results of long-term research of expert opinions.The article based on the comparative analysis with experts and other research sources.It is series of article which is verifying the conditions and state of corruption types,spheres,relationship between political bodies and business groups and reasons and conditionality.The first chapter of the series of article attempted to underline the corruption sphere and corruption of types.The second chapter commenced the relationship with socio-political and politic-business groups and reasons for the conditionality of the corruption in Mongolia.

Innovation of concept and system of economic law based on the sustainable development

Make up for deficiencies in the economic development of market mechanisms through macro-control method. Although the market plays a fundamental role in resource allocation, in other means of regulation it plays an irreplaceable role in regulating the economy, the management of economic activities. However, by the market ＂invisible hand＂ spontaneous adjustment, there is ＂market failure＂ problem. Market self-regulation mechanisms inevitable cyclical economic fluctuations and economic crisis, the impact of a sustained and stable economic growth will lead to a waste of resources, environmental degradation is caused, but also it produces uneven regional development, causing social polarization between rich and poor, etc. Public goods such as ecological environment should be through legal means, rather than a means to implement the healthy development of the market environment.

The application of fair value in the non-monetary assets transaction

Since issued new accounting standards for enterprises in our country, our country the non-monetary assets transaction is using fair value measurement. In the fair value measurement has advantages and disadvantages. Such as can response the present value of enterprise assets, improve the relevance of accounting information. But it also has some problems. Based on the application of fair value in the non-monetary assets exchange, analysis on the problems existing in the practical application, and proposes the corresponding countermeasures and Suggestions.

Economic Logic of Development and Value Basis of Reform of China’s Rural Land System

The historical changes of China’s rural land system show that the allocation of rural land rights,as the most important agricultural production relationship,has a huge effect on the development of productivity. The essence of the rural land system is the allocation of rights.At this stage,China’s agricultural development is facing a series of challenges such as agricultural modernization,food security issues and arable land issues,and the reform of the rural land system is imperative,of which the focus is still on the enrichment and deepening of rural land rights. Based on this,the decisive role of the market in the allocation of rights is introduced and brought into play. While striving for development and efficiency,attention must also be paid to the security function and fair value of rural land.

Intertextile Beijing Features More Informative programme of seminars and trend forums add value to fair

Intertextile Beijing Apparel Fabrics,will be held from 29-31 March 2009 at the China International Exhibition Centre,will showcase the latest textiles from around the world on 48,000 sqm of exhibition space.The event has confirmed 1100 exhibitors from 14 countries and regions including

Professional values in nursing students in Jordan:baccalaureate nursing students’perception

Objective:Baccalaureate degree curricula consist of several professional values required for nursing students,which are taught in many ways.This study aimed to explore the perception of baccalaureate Jordanian nursing students regarding professional values and to assess the relationship between students’demographics and their perception of professional values.Methods:The study design was a descriptive,cross-sectional correlational design.A convenience sample of 182 Jordanian undergraduate nursing students enrolled at one of the most prominent universities in Jordan who completed and submitted a self-administered Nurses’Professional Values Scale(NPVS)was considered for this study.Results:The NPVS total score ranged from 37 to 130,with a relatively high total score mean(99.68 with a mean of 3.83 out of 5).The highest score domain in NPVS was“Justice”with a mean of 3.97,while the lowest ranked domain was“Activism”with a mean of 3.69.The correlation coefficient showed no statistically significant correlation between age nor accumulative students’average with a total score of Nurses Professional Values Scale-revised(NPVS-R)and its subdomains.The t test results showed that gender and type of students’enrollment(regular vs.upgrading)did not affect the means of NPVS-R and its subdomains.But differences were found to be statistically significant between the means of first year students and fourth year students in the total score of NPVS-R.Conclusions:Findings of the study alert nursing educators to pay more attention to the importance of promoting the values related to“activism”and“professionalism”among nursing students.Suggestions for enhancing the roles of peer supervision and providing peer review to colleagues would contribute to improving nursing students’performance and raising self-awareness because when nursing educators pay more attention to the items of these domains,better future nursing professionals,leaders,and researchers can be gained.Also,understanding nursing students’perceptions of the importance of professional values and the difficulties in its application would be vital to enlighten educators about the areas that need improvement.

Evaluation of Biological Assets： Problems and Solutions

The chief production elements of an agricultural enterprise are its biological assets and the choice and practical application of the evaluation methods, as the assets directly affect many aspects： decision making of economic character by the financial statement user, indicators of financial operation analysis, inter-comparison of sector enterprises, assessment of the company value and taxes on its economic activity, and statistical data of the agricultural sector. The authors have used the discounted cash flow （DCF） as an alternative method and a model of system dynamics. Such a system dynamics method has not been used for assessment of biological assets so far. In the operating process, the company acquires or loses possession of the resources. It is vital to analyze the resources to see whether they comply with the concept of the assets and the terms of recognition. It is necessary for the same company as well as for external users of financial statements to get true information about the business and the value of money. Biological assets may be recognized in the company＇s accounting only when it is predictable that future benefits associated with these assets will flow into the enterprise. It is also important that the fair value or the cost can be measured reliably.