Academy of Accounting and Financial Studies Journal, Volume 8, Number 1, 2004

CONTENTS

LETTER FROM THE EDITORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi

ANALYSTS’ RESPONSES TO ALTERNATIVE

METHODS OF REPORTING UNREALIZED GAINS

AND LOSSES ON DERIVATIVES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

James L. Bierstaker, Villanova University

Satish Thosar, University of Technology, Sydney

David N. Wiest, University of Hartford

REEXAMINATION OF THE FIRM VALUE AND

WEIGHTED AVERAGE COST OF CAPITAL CONCEPT . . . . . . . . . . . . . . . . . . . . . 29

Confidence W. Amadi, Florida A&M University

THE TAX REFORM ACT OF 1986

AND THE HOUSING AFFORDABILITY CRISIS:

IS IT TIME FOR A HOME MORTGAGE

INTEREST CREDIT? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Christopher L. Brown, Western Kentucky University

William R. Simpson, Southeastern Louisiana University

MINIMIZING THE EXPECTATION GAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Lisa N. Bostick, The University of Tampa

Michael S. Luehlfing, Louisiana Tech University

DEBT COVENANT SELECTION: AN EMPIRICAL EXAMINATION . . . . . . . . . . . . . . . . . 63

Fonda L. Carter, Columbus State University

Linda H. Hadley, Columbus State University

Patrick T. Hogan, Columbus State University

THE EFFECTS OF THE TAX REFORM ACT OF 1986

ON BUSINESS FAILURE MOMENTUM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

Askar H. Choudhury, Illinois State University

Steven V. Campbell, University of Idaho

SIMILARITIES AND DIFFERENCES BETWEEN

THE SEXES IN FINANCIAL ANALYSIS AND

SELF-CONFIDENCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89

Robert L. Webster, Ouachita Baptist University

T. Selwyn Ellis, Louisiana Tech University

Barry J. Bryan, Ouachita Baptist University

IS FRAUD A PROBLEM IN

GOVERNMENTAL ENTITIES? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101

Sharron M. Graves, Stephen F. Austin State University

Treba Lilley Marsh, Stephen F. Austin State University

Miguel Lozano III, Stephen F. Austin State University

AN EXAMINATION OF INDUSTRIAL RELATEDNESS,

POTENTIAL INDUSTRIAL SYNERGIES, AND MERGER

PREMIUMS IN LARGE CORPORATE MERGER TRANSACTIONS . . . . . . . . . . . . . . . . . 111

Natalie Tatiana Churyk, Northern Illinois University

Richard E. Baker, Northern Illinois University