The objective of this study is to examine the effect of accounting standards and investor protection on value relevance of earnings and book value of equity among European Union countries during the years 1999-2007. T...The objective of this study is to examine the effect of accounting standards and investor protection on value relevance of earnings and book value of equity among European Union countries during the years 1999-2007. The results indicate that the adoption of International Financial Reporting Standards [IFRS] leads to improvement in value relevance, particularly on earnings. We also examine the impact of investor protection and the deviation of local accounting standards from IFRS on the effectiveness of the IFRS adoption. The results show supporting evidence for investor protection but inconclusive evidence for accounting standard deviation. However, additional analysis indicates that the countries which apparently benefit from adopting IFRS are those with high deviation of local accounting standards from IFRS and high investor protection. The findings imply that adopting IFRS alone cannot improve value relevance of accounting information, but standard setters and regulators need to strengthen their investor protection mechanisms in order to improve the quality of accounting information.展开更多
This paper studies the application of the cluster-based approach in the enhancement of the competitiveness of Thailand＇s SME industry. The author had employed a qualitative method through the in-depth interview. The ...This paper studies the application of the cluster-based approach in the enhancement of the competitiveness of Thailand＇s SME industry. The author had employed a qualitative method through the in-depth interview. The result showed that Ratchaburi orchid cluster in Thailand has employed the concept of the cluster-based approach since they realized that it was useful and could enable them to produce good quality orchids for the international market. The finding also showed how individuals have worked together and helped each other, in order to build a good horizontal network of support and creating competitive advantages. In addition, the research paper related to knowledge management because knowledge management refers to a method for development which requires cluster members to exchange information, interact with each other, sharing and distribute information, create closer business relationship and build mutual benefit. Therefore, the cluster members will help each other to create a culture that values learning through making a commitment and sharing information to strengthen the cluster.展开更多
文摘The objective of this study is to examine the effect of accounting standards and investor protection on value relevance of earnings and book value of equity among European Union countries during the years 1999-2007. The results indicate that the adoption of International Financial Reporting Standards [IFRS] leads to improvement in value relevance, particularly on earnings. We also examine the impact of investor protection and the deviation of local accounting standards from IFRS on the effectiveness of the IFRS adoption. The results show supporting evidence for investor protection but inconclusive evidence for accounting standard deviation. However, additional analysis indicates that the countries which apparently benefit from adopting IFRS are those with high deviation of local accounting standards from IFRS and high investor protection. The findings imply that adopting IFRS alone cannot improve value relevance of accounting information, but standard setters and regulators need to strengthen their investor protection mechanisms in order to improve the quality of accounting information.
文摘This paper studies the application of the cluster-based approach in the enhancement of the competitiveness of Thailand＇s SME industry. The author had employed a qualitative method through the in-depth interview. The result showed that Ratchaburi orchid cluster in Thailand has employed the concept of the cluster-based approach since they realized that it was useful and could enable them to produce good quality orchids for the international market. The finding also showed how individuals have worked together and helped each other, in order to build a good horizontal network of support and creating competitive advantages. In addition, the research paper related to knowledge management because knowledge management refers to a method for development which requires cluster members to exchange information, interact with each other, sharing and distribute information, create closer business relationship and build mutual benefit. Therefore, the cluster members will help each other to create a culture that values learning through making a commitment and sharing information to strengthen the cluster.
