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Long-term Attachments and Long-Run Firm Rates of Return

2004-10-01 , Orazem, Peter , Bouillon, Marvin , Doran, Benjamin , Orazem, Peter , Economics , Accounting

Long-term attachments between workers and firms are common. Numerous studies have examined worker returns to tenure, but little is known of firm returns to firm-worker matches. Yet these attachments represent a human capital asset quasi-held by the firm, which is not captured by traditional accounting measures of firm assets. Firms with large quasi-holdings of human capital will have higher measured return on assets, other things equal. Analysis of data on 250 large manufacturing firms supports the view that firms profit from long-term attachments with their workers. Consequently, unmeasured human capital assets contribute to the explanation of persistence in measured long-run excess profits across

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Ethical Distancing: Rationalizing Violations of Organizational Norms

2005-10-01 , Ravenscroft, Sue , West, Tim , Shrader, Charles , Shrader, Charles , Management , Accounting

Recent work on moral reasoning has focused on the psychological relationship between the actor, the action and the outcome. The argument is that a tighter connection between these categories leads to more moral behavior. Using data from students who cheated on an exam, we extend this literature by delineating how people can rationalize non-moral behavior by loosening the above relationships. In particular, we found that students tried to distance themselves from the wrongfulness of cheating using four types of rationalization: separating themselves from the action, blaming a third-party for influencing the decision, re-defining the action as something good, and defining alternate outcomes from the behavior. Supporting these rationales are nine basic arguments based on confusion, character, professor clarity, attractive nuisance, culture, intent, acceptance, comparisons and outcome. We conclude by discussing the implications of these findings for our understanding of moral reasoning and provide some practical approaches for minimizing this behavior.

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Understanding Cheating: From the University Classroom to the Workplace

2012-01-01 , Ravenscroft, Sue , Kaufmann, Jeffrey , Shrader, Charles , Management , Accounting

Cheating is defined as taking information, credit, or reward that one neither deserves nor did the work to achieve. Cheating behavior is often seen as a driver behind many of our current economic problems and the temptation to cheat has been associated with our downward slide in business practice for the past two decades. For example, the current housing crisis has been explained in part as banks cheating in terms of qualifying people for loans. Additionally, current headlines focus on legislators and Wall Street analysts who cheat investors by unfairly taking advantage of inside information not publicly available to others in the market. Cheating defeats fairness of competition and undermines the basis of business integrity. Writers in the business press are expressing concern over the widespread levels of ‘cheating’ among business executives. Enron, HealthSouth, and Tyco, all cheated shareholders in order to pad the pockets of their corporate executives. Some of the smartest and best business minds have fallen subject to the temptation to cheat and the result has been some of the most wideranging financial regulation in our history. The Sarbanes-Oxley and Dodd-Frank Acts were enacted in reaction to the perceived prevalence of cheating by business managers. The controversial new Consumer Financial Protection Bureau is yet another attempt to address this problem. Classroom teachers are also experiencing a growing concern over what seems to be ever increasing levels of cheating among students. Students cheat for a variety of reasons including a felt pressure to maintain good grades and because they perceive many opportunities to cheat but few real penalties for getting caught. Instructor behavior may unwittingly exacerbate the problem by giving unclear or arbitrary assignments that create a climate for cheating when students view the benefits of figuring out and completing the assignment honestly to be minimal at best. The problem of classroom cheating is that students are likely to carry the behaviors they learn in the classroom into the workplace. It is this prospect that leads us to examine the nature of classroom cheating as a precursor to what might happen in actual business settings. It is likely that many of us have cheated at something or in some way, however unimportant, in our lives. We may have taken advantage of unsuspecting others in sports or play and the amount of harm done is probably very little and accepted as part of the interaction. But when the stakes get higher and include academic or business integrity and the validity of a grade or financial statement are at stake, then cheating has significant potential consequences, and needs to be both understood and managed.

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Small Business Capitalization Patterns

1989 , Van Auken, Howard , Van Auken, Howard , Doran, B. , Management , Finance , Accounting

This study investigates the initial capitalization and financing patterns of recently established (new) and established (old) small businesses in Iowa. Analysis of survey responses indicates that significant differences exist between these two groups of firms. Specifically, new firms are found to have relied more heavily on debt financing than old firms. This suggests that new firms with high debt loads are likely not to survive and become old firms.

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Student/Faculty Connections in the Development of Teaching

2007-07-01 , Ravenscroft, Sue , Blackburn, Virginia , Palan, Kay , Ravenscroft, Sue , Shrader, Charles , Management , Accounting

This project directly involved students in two different models of instructional development. The first model was a Student Consultant program in which faculty selected from a menu of instructional services carried out by students. Typical services included attending class as impartial observers, soliciting feedback from other students on their learning experiences, videotaping class sessions, and evaluating course websites. The second model of instructional development was a program of student-assisted teaching seminars for college faculty. Student Associates helped serve as panelists and facilitators. Assessments of attitudes toward teaching indicated that faculty members viewed both professors and students as collaborators in the classroom as a result of the seminar series.