Papers by Virginia Cortijo
Information The R2 of yearly regressions of prices on Earnings Per Share (EPS) and Book Value Per... more Information The R2 of yearly regressions of prices on Earnings Per Share (EPS) and Book Value Per Share (BVPS) has commonly been used to measure the value relevance of accounting information. How-ever Brown, Lo & Lys (1999) analytically show that the scale e¤ects present in levels regressions increase the R square value and this causes it to be an unreliable measure of relevance. Accordingly this study examines the value relevance of accounting using a di¤erent methodology that does not rely on R2. Speci
cally, we measure value relevance using price deated residuals derived from the estimation of the Ohlson (1995) valuation model. Empirical results based on this methodol-ogy clearly indicate the presence of a downward trend in the relevance of accounting during the past 51 years. Furthermore a comparison of High-Tech companies versus Low-Tech companies sug-gests accounting information being less value relevant for companies belonging to high technology industries. 1 1
The R^2 of yearly regressions of prices on Earnings per Share (EPS) and Book Value per Share (BVP... more The R^2 of yearly regressions of prices on Earnings per Share (EPS) and Book Value per Share (BVPS) has commonly been used to measure the value relevance of accounting information. However, Brown, Lo & Lys (1999) analytically show that the scale effects that are present in levels regressions increase the R-square value and this causes it to be an unreliable measure of relevance. Accordingly, this study examines the value relevance of accounting using a different methodology that does not rely on R^2. Specifically, we measure value relevance using price deflated residuals derived from the estimation of the Ohlson (1995) valuation model. Empirical results based on this methodology clearly indicate the presence of a downward trend in the relevance of accounting during the past 51 years. Further, a comparison of High-Tech companies versus Low-Tech companies suggests accounting information to be less value relevant for companies belonging to high technology industries.
Boletín Económico de ICE, 2015
en EEUU era de 54 millones, equivalente al 17,1 por 100 de la población, lo que supone un aumento... more en EEUU era de 54 millones, equivalente al 17,1 por 100 de la población, lo que supone un aumento significativo si se compara con los 14,8 millones que componían tan sólo el 6,5 por 100 de la población americana en 1980. Este notable incremento de la población hispana ha venido acompañado de un espectacular crecimiento en su capacidad adquisitiva. Jiménez y Narbona (2012) analizaron la evolución del poder de compra de los hispanos, llegando a la conclusión de que éste ha sido el más alto entre los ġ
E-Learning and Digital Media, 2019
Social network sites in general, and Facebook in particular, allow users with common interests to... more Social network sites in general, and Facebook in particular, allow users with common interests to meet, share ideas, and collaborate, creating new forms of informal learning. In order to understand and eventually take advantage of the many benefits that Facebook can bring to the academic world, we need to study its adoption process. The objective of this article is to identify the factors that may motivate university students to adopt and use Facebook as an educational tool. We aim to contribute to the existing literature by adding a unique approach to examine this question, incorporating theories and constructs from the well-developed technology acceptance theory. According to our results, Performance Expectancy of Students is the most important factor on predicting the Behavioral Intention to Use Facebook for academic purposes, followed by Appropriateness for Academic Setting and Compatibility With Academic Work.
Journal of Labor and Society, 2019
Georgia Educational Researcher, 2015
Facebook is by far the most ubiquitous social network in the world. While it has been studied ext... more Facebook is by far the most ubiquitous social network in the world. While it has been studied extensively in its native social context, only recently has its use for academic purposes begun to be examined in earnest. In this study we utilize both qualitative and quantitative methodologies in multiple sections of required freshmen and senior courses at a liberal arts college (n = 245). To help delineate factors that cause students to accept (or resist) the use of Facebook by their professors, we draw from the well-established technology acceptance literature, adapting constructs known to predict acceptance and use of technology. Further, we develop new measures of "appropriateness" and "social purposes" to account for the unique context of integrating Facebook into college coursework. We provide recommendations for best practices, find a possible negative "Facebook Effect," and show that the use of technology acceptance models is a promising avenue for future research.
incorporating an instance document example, we suggest a framework linking the Resource-Event-Age... more incorporating an instance document example, we suggest a framework linking the Resource-Event-Agent (REA) model and eXtensible Business Reporting Language Global Ledger (XBRL GL) as a way to extend the generalized XBRL GL taxonomy. Using the REA semantic model to extend the existing XBRL GL taxonomy provides an ontology and associated process that is reusable. The resulting framework can provide uniform access to information and more reporting and query permutations, thereby facilitating more comprehensive and timely business reporting.
International Journal of Disclosure and Governance, 2011
is an assistant professor of Business and Accounting at Stonehill College. Her research focuses o... more is an assistant professor of Business and Accounting at Stonehill College. Her research focuses on information technologies, business reporting and international fi nancial reporting standards. She has published in leading academic journals, including the
The International Journal of Digital Accounting Research, 2009
The objective of this paper is to identify the factors that could have led North-American compani... more The objective of this paper is to identify the factors that could have led North-American companies to voluntarily submit their information in XBRL (eXtensible Business Reporting Language) under the XBRL Voluntary Financial Reporting Program (2005-2008). The motivation that led us to carry out this analysis was the fact that, despite the many benefits attributed to XBRL, only 137 companies (out of over 10.000 filers) decided to join the voluntary program issued by the SEC (Securities and Exchange Commission). At this point, we wondered if the SEC should have promoted other benefits to encourage companies to use XBRL. To reach our goal, we conducted a Delphi study. Through this study, we asked a panel of XBRL experts their opinion about the reasons that could have led companies to voluntarily disclose their business information in XBRL. Our results show that, according to experts, factors such as to gain a deeper knowledege of XBRL and to acquire a company image as a pioneer in technology played an essential role in the process of voluntary adoption of the standard.
Journal of Financial Regulation and Compliance, 2010
PurposeThe purpose of this paper is to analyse the way in which the insurance industry is facing ... more PurposeThe purpose of this paper is to analyse the way in which the insurance industry is facing the renewal of its regulatory framework with respect to the levels of solvency that insurance entities should maintain. This paper also addresses how technological initiatives in general, and the eXtensible Business Reporting Language (XBRL), in particular, are making a key contribution to the process of adaptation to the new regulation.Design/methodology/approachThe paper analyses the particular advantages that the application of the XBRL standard can offer in this process, and highlight new lines for further research.FindingsAfter analysing the current situation of the insurance industry, the paper concludes that technological systems, such as XBRL, are necessary to support the consolidation of financial information, and to ensure the digital transparency of the insurer organisations that are engaged in this new regulatory challenge.Practical implicationsXBRL is a key resource in the E...
Journal of Emerging Technologies in Accounting, 2008
ABSTRACT: This paper analyzes how XBRL (eXtensible Business Reporting Language) can contribute to... more ABSTRACT: This paper analyzes how XBRL (eXtensible Business Reporting Language) can contribute to EBR (Enhanced Business Reporting) to improve financial reports' transparency. We examine XBRL's technological and organizational advantages that can facilitate the implementation of the EBR model. XBRL, and the consortium associated with it, can help EBR provide greater interaction with users, help companies identify relevant reporting data, and harness technological advances to overcome the weaknesses inherent in traditional business reporting models. EBR and XBRL efforts combined can work effectively to improve the current business reporting model.
Implementing XBRL successfully by mandate and voluntarily
Online, 2009
ABSTRACT The eXtensible Business Reporting Language (XBRL) has emerged as a significant medium of... more ABSTRACT The eXtensible Business Reporting Language (XBRL) has emerged as a significant medium of electronically communicating information among businesses, banks, and financial regulators. XBRL is being jointly developed by an international nonprofit consortium, comprising of 450 major companies, organizations, and government agencies. XBRL allows software vendors, programmers, and others in the preparation and distribution process. It allows end users, to adopt it as a specification, enhance the creation, exchange, and comparison of business reporting information. The advantage of XBRL over earlier business reporting languages is that, it structures the communication of data through the creation of taxonomies. The taxonomies are free resources, enabling all users and regulators to validate the XBRL files, with the requirements, ensuring the quality of data transmitted.
International Journal of Accounting Information Systems, 2009
XBRL is a language based on XML for the electronic communication of business information. It is d... more XBRL is a language based on XML for the electronic communication of business information. It is designed to improve the exchange, aggregation and analysis of corporate data requiring disclosure, through a unique tagging structure that provides interoperability. But, the proliferation of a multitude of XBRL taxonomies, based on different accounting principles, can risk the objectives of standardization, comparability and re-usability of the information that is sought with XBRL. It is therefore essential to develop global accounting standards as a unique foundation on which the XBRL taxonomies can be established, so that it becomes possible to compare the financial information originating from various countries. Along these lines, the International Financial Reporting Standards (IFRS-GP) taxonomy was created to establish a common ground for international firms and create a platform that would enhance the benefits of XBRL. This paper examines whether the IFRS-GP taxonomy, at its current state, adequately covers European companies' dissemination practices and strengthens the benefits of XBRL. Our results provide implications for the evaluation of the effectiveness of the IFRS-GP taxonomy and shed light on directions that may lead to the improvement of this taxonomy.
Students' perceptions of Facebook for academic purposes
Computers & Education, 2014
ABSTRACT Facebook is the most popular Social Network Site (SNS) among college students. Despite t... more ABSTRACT Facebook is the most popular Social Network Site (SNS) among college students. Despite the popularity and extensive use of Facebook by students, its use has not made significant inroads into classroom usage. In this study, we seek to examine why this is the case and whether it would be worthwhile for faculty to invest the time to integrate Facebook into their teaching. To this end, we decided to undertake a study with a sample of 214 undergraduate students at the University of Huelva (Spain). We applied the structural equation model specifically designed by Mazman and Usluel (2010) to identify the factors that may motivate these students to adopt and use social network tools, specifically Facebook, for educational purposes. According to our results, Social Influence is the most important factor in predicting the adoption of Facebook; students are influenced to adopt it to establish or maintain contact with other people with whom they share interests. Regarding the purposes of Facebook usage, Social Relations is perceived as the most important factor among all of the purposes collected. Our findings also revealed that the educational use of Facebook is explained directly by its purposes of usage and indirectly by its adoption.
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Papers by Virginia Cortijo