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Journal of Contemporary Accounting & Economics CO-EDITORS FERDINAND ERDINAND A. GUL UL Monash University DAN AN A. SIMUNIC IMUNIC The University of British Columbia BIN IN SRINIDHI RINIDHI University of Texas CONSULTING EDITORS KATHERINE ATHERINE SCHIPPER CHIPPER Duke University JUDY UDY TSUI SUI The Hong Kong Polytechnic University ROSS OSS L. WATTS ATTS Massachusetts Institute of Technology ASSOCIATE EDITORS ELI LI BARTOV ARTOV, New York University JAN AN BOUWENS OUWENS , Tilburg University MICHAEL ICHAEL E. BRADBURY RADBURY, Massey University STEVEN TEVEN CAHAN AHAN, The University of Auckland CHARLES HARLES J.P. CHEN HEN, China Europe International Business School, Pudong AGNES GNES CHENG HENG, The Hong Kong Polytechnic University PETER ETER CLARKSON LARKSON, The University of Queensland GREG REG CLINCH LINCH, University of Melbourne MARK ARK L. DEFOND OND, University of Southern California JENNIFER ENNIFER FRANCIS RANCIS , Duke University JERE ERE R. FRANCIS RANCIS , University of Missouri – Columbia PAUL AUL A. GRIFFIN RIFFIN, University of California, Davis KOSE OSE JOHN OHN, New York University JEONG EONG-BON ON KIM IM, City University of Hong Kong S.P. KOTHARI OTHARI , Massachusetts Institute of Technology CLIVE LIVE LENNOX ENNOX, Nanyang Technological University ZOLTAN OLTAN MATOLCSY ATOLCSY, The University of Technology, Sydney CHUL HUL W. PARK ARK, The University of Hong Kong GRACE RACE POWNALL OWNALL, Emory University SURESH URESH RADHAKRISHNAN ADHAKRISHNAN, The University of Texas at Dallas GORDON ORDON D. RICHARDSON ICHARDSON, University of Toronto TERRENCE ERRENCE J. SHEVLIN HEVLIN, University of Washington LAKSHMANAN AKSHMANAN SHIVAKUMAR HIVAKUMAR, London Business School DOUGLAS OUGLAS J. SKINNER KINNER, University of Chicago JEROLD EROLD L. ZIMMERMAN IMMERMAN, University of Rochester Author enquiries: For enquiries relating to the submission of articles (including electronic submission where available) please visit this journal’s homepage at http://www.elsevier.com/locate/jcae. For detailed instructions on the preparation of electronic artwork, please visit http://www.elsevier.com/artworkinstructions. You can track accepted articles at http://www.elsevier.com/trackarticle and set up e-mail alerts to inform you of when an article’s status has changed. Also accessible from here is information on copyright, frequently asked questions and more. Contact details for questions arising after acceptance of an article, especially those relating to proofs, will be provided by the publisher. Orders, claims, and journal enquiries: please contact the Elsevier Customer Service Department nearest you: St. Louis: Elsevier Customer Service Department, 3251 Riverport Lane, Maryland Heights, MO 63043, USA; phone: (877) 8397126 [toll free within the USA]; (+1) (314) 4478878 [outside the USA]; fax: (+1) (314) 4478077; e-mail: [email protected] Oxford: Elsevier Customer Service Department, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, UK; phone: (+44) (1865) 843434; fax: (+44) (1865) 843970; e-mail: [email protected] Tokyo: Elsevier Customer Service Department, 4F Higashi-Azabu, 1-Chome Bldg, 1-9-15 Higashi-Azabu, Minato-ku, Tokyo 106-0044, Japan; phone: (+81) (3) 5561 5037; fax: (+81) (3) 5561 5047; e-mail: [email protected] Singapore: Elsevier Customer Service Department, 3 Killiney Road, #08-01 Winsland House I, Singapore 239519; phone: (+65) 63490222; fax: (+65) 67331510; e-mail: [email protected] Publication information: Journal of Contemporary Accounting & Economics (ISSN 1815-5669). For 2012, volume 8 (2 issues) is scheduled for publication. Subscription prices are available upon request from the Publisher or from the Elsevier Customer Service Department nearest you or from this journal’s website (http://www.elsevier.com/locate/jcae). Further information is available on this journal and other Elsevier products through Elsevier’s website (http://www.elsevier.com). Subscriptions are accepted on a prepaid basis only and are entered on a calendar year basis. Issues are sent by standard mail (surface within Europe, air delivery outside Europe). Priority rates are available upon request. Claims for missing issues should be made within six months of the date of dispatch. Journal of Contemporary Accounting & Economics has no page charges Printed by Henry Ling Ltd, The Dorset Press, Dorchester, UK

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Page 1: Editorial Board

Journal of Contemporary Accounting & Economics

CO-EDITORSFERDINANDERDINAND A. GULUL

Monash University

DANAN A. SIMUNICIMUNIC

The University of British Columbia

BININ SRINIDHIRINIDHI

University of Texas

CONSULTING EDITORS

KATHERINEATHERINE SCHIPPERCHIPPER

Duke University

JUDYUDY TSUISUI

The Hong Kong Polytechnic University

ROSSOSS L. WATTSATTS

Massachusetts Institute of Technology

ASSOCIATE EDITORS

ELILI BARTOVARTOV, New York University

JANAN BOUWENSOUWENS, Tilburg University

MICHAELICHAEL E. BRADBURYRADBURY, Massey University

STEVENTEVEN CAHANAHAN, The University of Auckland

CHARLESHARLES J.P. CHENHEN, China Europe International

Business School, Pudong

AGNESGNES CHENGHENG, The Hong Kong Polytechnic University

PETERETER CLARKSONLARKSON, The University of Queensland

GREGREG CLINCHLINCH, University of Melbourne

MARKARK L. DEEFONDOND, University of Southern California

JENNIFERENNIFER FRANCISRANCIS, Duke University

JEREERE R. FRANCISRANCIS, University of Missouri – Columbia

PAULAUL A. GRIFFINRIFFIN, University of California, Davis

KOSEOSE JOHNOHN, New York University

JEONGEONG-BONON KIMIM, City University of Hong Kong

S.P. KOTHARIOTHARI, Massachusetts Institute of Technology

CLIVELIVE LENNOXENNOX, Nanyang Technological University

ZOLTANOLTAN MATOLCSYATOLCSY, The University of Technology, Sydney

CHULHUL W. PARKARK, The University of Hong Kong

GRACERACE POWNALLOWNALL, Emory University

SURESHURESH RADHAKRISHNANADHAKRISHNAN, The University of Texas at Dallas

GORDONORDON D. RICHARDSONICHARDSON, University of Toronto

TERRENCEERRENCE J. SHEVLINHEVLIN, University of Washington

LAKSHMANANAKSHMANAN SHIVAKUMARHIVAKUMAR, London Business School

DOUGLASOUGLAS J. SKINNERKINNER, University of Chicago

JEROLDEROLD L. ZIMMERMANIMMERMAN, University of Rochester

Author enquiries: For enquiries relating to the submission of articles (including electronic submission where available) please visit this

journal’s homepage at http://www.elsevier.com/locate/jcae. For detailed instructions on the preparation of electronic artwork, please visit

http://www.elsevier.com/artworkinstructions. You can track accepted articles at http://www.elsevier.com/trackarticle and set up e-mail

alerts to inform you of when an article’s status has changed. Also accessible from here is information on copyright, frequently asked

questions and more.

Contact details for questions arising after acceptance of an article, especially those relating to proofs, will be provided by the publisher.

Orders, claims, and journal enquiries: please contact the Elsevier Customer Service Department nearest you:

St. Louis: Elsevier Customer Service Department, 3251 Riverport Lane, Maryland Heights, MO 63043, USA; phone: (877) 8397126 [toll

free within the USA]; (+1) (314) 4478878 [outside the USA]; fax: (+1) (314) 4478077; e-mail: [email protected]

Oxford: Elsevier Customer Service Department, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, UK; phone: (+44) (1865)

843434; fax: (+44) (1865) 843970; e-mail: [email protected]

Tokyo: Elsevier Customer Service Department, 4F Higashi-Azabu, 1-Chome Bldg, 1-9-15 Higashi-Azabu, Minato-ku, Tokyo 106-0044,

Japan; phone: (+81) (3) 5561 5037; fax: (+81) (3) 5561 5047; e-mail: [email protected]

Singapore: Elsevier Customer Service Department, 3 Killiney Road, #08-01 Winsland House I, Singapore 239519; phone: (+65) 63490222;

fax: (+65) 67331510; e-mail: [email protected]

Publication information: Journal of Contemporary Accounting & Economics (ISSN 1815-5669). For 2012, volume 8 (2 issues) is scheduled

for publication. Subscription prices are available upon request from the Publisher or from the Elsevier Customer Service Department

nearest you or from this journal’s website (http://www.elsevier.com/locate/jcae). Further information is available on this journal and other

Elsevier products through Elsevier’s website (http://www.elsevier.com). Subscriptions are accepted on a prepaid basis only and are entered

on a calendar year basis. Issues are sent by standard mail (surface within Europe, air delivery outside Europe). Priority rates are available

upon request. Claims for missing issues should be made within six months of the date of dispatch.

Journal of Contemporary Accounting & Economics has no page charges

Printed by Henry Ling Ltd, The Dorset Press, Dorchester, UK