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Languages: English
Types: Doctoral thesis
Subjects:
This composition presents a digest of research that investigates aspects of forensic \ud accounting that shape its development from practice to an academic research perspective. This \ud submission is based on six outputs that cover the period of 2006 through 2008. My research \ud theme is, in the context of valuations of privately held companies, identifying the skills of a \ud forensic accountant, and how to use them. This research not only breaks ground in the \ud growing field of forensic accounting as it applies to private company valuation, but also lays a \ud firm foundation and gives direction for further research. It provides insights into a growing \ud sector of accounting for which there is a pressing need due to a dearth of research in the area. \ud Statistically significant results of Output 1 indicate that there are systematic trends in \ud court preferences for valuation methods, and provides empirical evidence of best valuation \ud choices for decision makers involved in proposition of methods to the courts. Study controls \ud indicated that macroeconomic factors such as GDP and inflation are related to court choice of \ud valuation methods for some types of cases. Specifically, market methods are preferred during \ud higher economic growth and the capitalized earnings method is preferred during times of higher \ud economic inflation. \ud Output 2 contributes to research by producing new knowledge with the understanding of \ud the trend of investigating a potential insurance fraud in a routine business interruption. \ud Output 3 hypothesized that valuation approaches for closely held companies preferred by \ud court vary by industry type. Income approaches were more popular that either asset or market \ud approaches for manufacturing industries, and that the market approach had a higher proportion of cases than asset approach for holding companies. Significant results for logistic regression \ud analyses indicated that income valuation approaches had odds ratios approximately five times \ud greater for manufacturing companies than other types of companies, which substantiated the \ud results from the univariate analyses. \ud Output 4 found a statistically significant odds ratio of 6.27 indicating the matrimonial \ud court preferred the capitalized earning method when inflation was high and involved a \ud manufacturing company. In addition, the excess earning method was far more likely to be \ud preferred in marital dissolution when the case did not involve a service company. \ud Output 5 defined the relevant skills of forensic accountants, and the perceived \ud importance of these skills among three important stakeholders; forensic accountants, accounting \ud academics, and users of forensic accounting services. These empirical findings are the first of its \ud kind. \ud Output 6 presented the results of a moderated multiple regression analysis to show that, \ud all else held equal, there exists a positive premium in the relative valuation of S corporations \ud over C corporations in the period subsequent to the Tax Court rulings that started this debate. \ud The model also allows for the moderation of this premium by varying different levels of a set of \ud interaction variables. The results of the study indicate that the magnitude of the "S corporation \ud premium" depends on the level of these variables. \ud My contribution to knowledge is presented in table format with the number of citations of \ud each publication according to searches on Google Advanced Scholar, Lexis-Nexis, and a general \ud World Wide Web search. In addition, since the World Wide Web has essentially created an environment where information is simply a point and a click away, the relevance of manuscript \ud downloads are an important indicator of the interest and contribution of a paper. There are \ud recorded downloads of my publications from various publishing sources either selling academic \ud articles online or simply providing working papers available for download. Included in table 1 \ud and table 2 are the aggregate number of downloads and source, respectively
  • The results below are discovered through our pilot algorithms. Let us know how we are doing!

    • Astrachan, J.H. and Shanker, M.C. (2003). Family businesses' contribution to the V.S. economy: A closer look. Family Business Review, 16(3) pp. 211-219.
    • Beatty, R. P. Riffe, S. M. and Thompson R. (1999). The method of comparables and tax court valuations of private firms: An empirical investigation. Accounting Horizons. September. 13(3) pp. 177-199.
    • Cressey, D.R. (1953). Other People's Money: A Study in the Social Psychology of Embezzlement. Glencoe, IL. Free Press.
    • Crumbley, L.D., Heitger, L.E., Smith, G.S. (2005) . Forensic and Investigative Accounting. (2nd ed.). Chicago, IL: CCH Incorporated.
    • Crumbley, D.L., Heitger, L.E. and, Smith, G.S. (2007). Forensic and Investigative Accounting. (3rd ed.) Chicago: Commerce Clearing House.
    • Lieberman, M. B., Montgomery, D. B. (1998) First-Mover Advantages. Strategic Management Journal. Volume 9, pp. 41-59.
    • Mattson, M.I. and, Shannon, D.S., (2002). S Corporation Values same as C Corporations. Business Valuation Update. Part 1. November. Volume 8(11) pp. 1-5.
    • Mattson, M.I., Shannon, D.S., and Upton, D.E. (2002). S Corporation Values same as C Corporations. Business Valuation Update. Part 2. December. Volume 8(12) pp. 1-4.
    • McGuire, B.L. and lost E. (2006) Forensic Accountants: Financial Investigators. Journal of Business & Economics Research. Volume 4(2) pp. 1-6.
    • Rezaee, Z., Crumbely, L. D., & Elmore, R. C.(2006). Forensic accounting education: A survey of academicians and practitioners. Advances in Accounting Education. Manuscript in preparation.
    • Whetten, D.A. (1989) What Constitutes a Theoretical Contribution? Academy of Management Review. Volume 14, Number 4, Pages 490-495.
    • 11. DiGabriele, J.A. & Simoes, G.V. (2007). Lessons Learned From the Med Diversified Case. The Value Examiner, NovemberlDecember 2007, Article 1, pp. 20-25.
    • 12. DiGabriele, J.A. & Simoes, G.V. (2007). The Forensic Accountant: An anatomical look at the art and science. New Jersey Lawyer, October, Volume 16. Number 42, pp. 1-5. - -
    • 13. DiGabriele, J.A. (2007). To Have and to Hold: An Empirical Investigation of , Preferences for Valuation Methods of Closely Held Companies in the Matrimonial Court. Journal ofForensic Accounting, Volume 8, Number 1 & 2, pp. 397-408.
    • 14. DiGabriele, James A. & Filler, Mark G. & (2007). How to Read, Understand, and Interpret Excel's Regression Output. Part V. FOCUS. American Institute o/Certified Public Accountants. Business Valuation and Forensic & Litigation Support Services Section, Volume 3, Number 4, pp. 5-9.
    • 7.1 List of Submitted Publications
    • 1. DiGabriele, James A. (September, 2006). An Empirical Walk Down Valuation Way: Are the Valuation Methods of Closely Held Companies Chosen by the Courts a Function of the Type of Case and Level of Court? The Journal ofLegal Economics, Volume 13, Number 3, pp. 39-64.
    • 2. DiGabriele, James A. (2006). The Pancake Palace: A Case Study in Business Interruption from the Defense Side, Journal ofBusiness Valuation and Economic Loss Analysis: Volume. 1, Number 1, Article 5, pp. 1-10.
    • 3. DiGabriele, James A. (2007). Do Court Preferences for Valuation Approaches of Closely Held Companies Vary by Industry? Journal ofBusiness Valuation and Economic Loss Analysis: Volume 2, Number 1, Article 5, pp. 1-20.
    • 4. DiGabriele, J.A. (2007). To Have and to Hold: An Empirical Investigation of Preferences for Valuation Methods of Closely Held Companies in the Matrimonial Court. Journal of Forensic Accounting, Volume 8, Number 1 & 2, pp. 397-408
    • 5. DiGabriele, J.A. (2008). An Empirical Investigation of the Relevant Skills of Forensic Accountants. Journal ofEducation for Business, Volume. 83, Issue 6. pp. 331-338.
    • 6. DiGabriele, J.A. (2008). The Moderating Effects of Acquisition Premiums in Private Corporations: An Empirical Investigation of Relative S Corporation and C Corporation Valuations. Accounting Horizons, Volume 22, Number 4, pp. 415-424.
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