The author adapts classical profitability ratios to Andalusian Cooperative Legislation and proposes two new ratios: the first one, for investors, which is not usual in co-operatives, but it is imposed by the new legislation; and, the second one, for members, as a reason for a more prudent policy...

Especialmente en el caso de las cajas de ahorro, el capital social ha sido recurrentemente utilizado para explicar la aportación que ciertas entidades bancarias realizan al desarrollo económico y social de sus territorios de actuación. Las cooperativas de crédito, como organizaciones...

The Basque Legislation of cooperative societies sends to the free decision of every society in order that the bylaws could foresee the existence of contributions to share capital not eligible, but refundable for decision of the cooperative society, allowing to assess, this way, the contributions...

The variability of share capital is the technical instrument used by cooperative, national and Community law to achieve the fulfilment of the cooperative principle of voluntary adhesion and voluntary withdrawal. Progressively, the regime of cooperative share capital has added rules and...

There has been on-going debate concerning the classification of the Social Capitalof cooperative societies. This paper analyzes the different views on important areas of such classification. Particularly, it reviews the juridical approach in the European, national and autonomous environments;...

Cooperatives meet differentiated purposes since their origins. In the same way as other economic units, they need to make use of accounting. So the study of cooperative accounting arouse interest from distant time, as it is shown by the fact that in Spain a monograph book about cooperative...

The International Financial Reporting Standars have re-opened the discussion on the financial consideration of the contributions of the partners of the cooperative societies. The concept of share capital is joined to the juridical dimension of the same one. To characterize the share capital of...

Financial reporting around the time of IPOs is consistent with listed firms reporting more conservatively than previously as private firms, consistent with the results in Ball and Shivakumar (2005). We hypothesize that IPO firms supply the higher quality financial reports demanded by public...

This study examines whether auditors can effectively use nonfinancial measures to assess the reasonableness of financial performance and, thereby, help detect financial statement fraud (hereafter, fraud). If auditors or other interested parties (e.g., directors, lenders, investors, or...

We examine the properties of firms' forecasting records and whether the accuracy of their prior earnings forecasts affects investor response to their subsequent forecasts. Within the context of a Bayesian model of investor learning, we find that the stock price response to management forecast...