A Personal Research

Philosophy and Plan

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In nearly all situations choices must be made between conflicting or competing alternative courses of action. Some may argue that limited resources make research impossible in small to medium size Universities. I disagree with that conclusion. I realize certain limitations exist that make it difficult to establish a research plan comparable to institutions with greater resources, but that should not eliminate a research agenda completely. I choose to engage in research that allows me to grow intellectually. My projects may never be published in the top tier Accounting journals, but I would like to believe the projects in which I engage bring something new to interested readers.

At present my research agenda includes gaining a better understanding of a methodology called Data Envelopment Analysis. Using archival data I am actively engaged in examining efficiency/productivity relationships in the banking industry and professional sports. Projects currently in process include:

• Efficiency comparisons in diverse environments. When organizations operate in environments with dissimilar policies or rules it is possible to examine the effects of these differing policies by first analyzing the relative efficiencies of the individual observations. Two specific research projects include:

  • A comparison of bank management efficiency in South Dakota and Missouri. The primary question is the effect the differing demographics and banking regulation may have on the relationship between resources and operating results for community banks in two states with differing environmental characteristics.

  • Maris, McGwire and Ruth. Using an approach similar to the banking project this project looks at professional baseball in 1927, 1961 and 1997 when the single season home run records were established. There are very basic differences among the three eras, but an objective analysis of batting and pitching performance keeps alive the arguments of who is or was the best home run hitter.

• Comparisons of model orientations. There are at least four models approaches when seeking to analyze efficiency under assumptions of constant returns to scale. The selection of the appropriate model depends on the objectives of management. Two specific research projects include:

  • Multiple Factor Productivity Measures in Banking: A Comparison of Frontier Function Models. By looking at the operating results of community banks in South Dakota the various efficiency measures are compared, contrasted and evaluated as to the conditions under which each model orientation might be appropriate.

  • Passing Efficiency in the National Football League. More arguments. More discussion. Using passing data from 1973 to the present alternative rankings are identified. The various model rankings are analyzed for consistency. Differences are identified and explained.

• Event studies. When significant policies are changed questions arise as to the effects of these changes. Using an approach similar to the "diverse environments" studies [see above] several projects are proposed to look at the effects of specific rule changes.

  • Repeal of the Glass-Steagall regulations. Will allowing banks to deal in other financial services affect their productivity in traditional banking services? As the data become available a comparison of relative efficiencies before and after the implementation of Gramm-Leach-Bliley Bank deregulation legislation will be completed.

  • Did the designated hitter rule really change baseball? A look at hitting and pitching efficiencies for the American and National Leagues before and after 1973.

• Variable returns to scale. Current projects under way include analyses of small community banks and their efficiencies and returns to scale. Are some banks too small to survive?

  • One project looks at a consistent set of banks for the years 1988 through 1999 with annual efficiency frontiers. Are there statistically significant differences in the values of the input and out put variables when the returns to scale populations are compared.

  • A second project looks at all banks reporting operations in South Dakota using a pooled data efficiency frontier to examine changes in returns to scale and efficiency measures over time.

A quick theoretical project evolved from an exercise assigned to a graduate class. I asked the students to estimate the present value of the cash flows that derive from a capital asset under various tax deduction scenarios. The mathematical relationships were slightly more complex than I had originally anticipated, but the project has been intellectually stimulating.

Other projects in the pipeline include analyses of organizational characteristics that facilitate successful implementation of activity-based costing in the not-for-profit higher education environment.

Past research efforts are listed below.

PROJECTS CURRENTLY UNDER REVIEW:

"A Definition of the Depreciation Tax Shield Under Conditions of Certainty," Accepted for presentation at the Eighth Annual Meeting of the American Academy of Accounting and Finance, New Orleans, Louisiana, December 6-8, 2001.

"Diversification or Specialization: Technical Efficiency in Active Portfolio Management," Accepted for presentation at the 2001 International Business & Economics Research Conference to be held in Reno, Nevada, October 8-12, 2001.

BANKING AND FINANCIAL INSTITUTIONS:

"Multiple Factor Productivity Measures in Banking: A Comparison of Frontier Function Models," Seventh Annual Meeting of the American Academy of Accounting and Finance, New Orleans, Louisiana, December 8-10, 2000. [presentation and proceedings]

"Transition Effects: Post-Merger Disruption in Managerial Efficiency in the Banking Industry," Academy of Business Administration 1999 International Conference, July 22-29, 1999, London, England. [presentation and proceedings]

South Dakota Bankers' Foundation Newsletter, Research Briefs:

Gramm-Leach-Bliley: Changes in Responsibilities, Winter 2001

Technical Efficiency in Active Portfolio Management

New Currency, New Issues

Deposit Activity in South Dakota Banks and Credit Unions

Loan Portfolios in South Dakota Banks and Credit Unions

South Dakota Bankers' Foundation Newsletter, Institute Director's Column:

Changes in Banking Productivity from 1988 through 1998, Summer 2000, Vol. 6, No. 2, pages 3-4.

Quarterly Productivity Measures in South Dakota Banks, Winter 2000, Vol. 6, No. 1, page 5.

Transition Effects in Post-Merger Management Efficiency, Summer 1999, Vol. 5, No. 2, page 4.

Captive Lenders: A New Challenge to Rural Bankers, Winter 1999, Vol. 5, No. 1, page 5.

Changes in Lending and Deposit Concentrations in South Dakota, Summer 1998, Vol. 4, No. 2, pages 4, 6.

Benchmarking and Operating Improvements, Winter 1998, Vol. 4, No. 1, pages 4-5.

The Distribution of Lending in South Dakota Commercial Banks, Summer 1997, Vol. 3, No. 2, pages 4-5.

An Analysis of Profitability in Agriculture Lending Banks, Winter 1997, Vol. 3, No. 1, page 5.

Economic Pressures in the Agriculture Economy, Summer 1996, Vol. 2, No. 2, page 6.

Proposed Tax Reforms and Financial Services, Winter 1996, Vol. 2, No. 1, page 5.

CURRICULUM AND INSTRUCTION ISSUES:

"Further Consideration of the Relationships Among ACT Scores, Student Gender, and Achievement in Principles of Accounting," Proceedings of the Midwest Accounting Society, Chicago, Illinois, March 12-14, 1997, p. 72. (with K. Rosacker and R. E. Rosacker)

QUALITY CONTROL ISSUES:

"The ISO 9000 International Quality Registration: An Empirical Analysis of Implications for Business Firms," International Journal of Applied Quality Management, 1999, Volume 2, Number 1, pages 59-73. (with S. Ragothaman)

OTHER TOPICS:

"Relative Efficiency Measures: Managerial Accounting Concepts in a Non-Accounting Context," Sixth Annual Meeting of the American Academy of Accounting and Finance, New Orleans, Louisiana, December 9-11, 1999. (with P. Martin)

"Economic Value Analysis and Employee Compensation in a Closely Held Corporation," Fourth Annual Meeting of the American Academy of Accounting and Finance, New Orleans, Louisiana, December 4-6, 1997. [presentation and proceedings]

EARLIER RESEARCH PRESENTATIONS AND PUBLICATIONS:

"Decomposition of the Herfindahl-Hirschman Index and Tests of Statistical Significance in Changes in Market Share Concentration," Fifth Annual Meeting of the American Academy of Accounting and Finance, New Orleans, Louisiana, December 3-5, 1998. [presentation and proceedings]

"The Distribution of Financial Assets in South Dakota Commercial Banking," Background Paper for F. Bert Olson, Vice President - Trust Officer, First National Bank in Sioux Falls, for Rotary Exchange Program in Fukushima, Japan, April 1998.

"Composite Benchmarking and Opportunity Costs in South Dakota Ag Dominant Banks," 1998 Midwest Business Administration/Midwest Accounting Society Annual Meeting, Chicago, Illinois, March 25-27, 1998 [presentation and abstract].

"Examination Question Types: An Analysis of Effects in the Principles of Accounting Course," Proceedings of the American Accounting Association Midwest Regional Meeting, Kansas City, Missouri, April 18-20, 1996, p. 40. (with J. Weisel and R. E. Rosacker)

"An Empirical Examination of ISO 9000 Quality Registration Effects on U.S. Business Firms and the Accounting Profession," Proceedings of the Management Applications and Functions Group, Association of Management Annual Meeting, Vancouver, British Columbia, Canada, August 2-5, 1995, Volume 13, Number 2, pp. 64-67. (with S. Ragothaman)

"A Statistical Method for Assessing the Effect of Sales Tax Audits on Taxpayer Compliance and Revenue Generation," Proceedings of the Management Applications and Functions Group, Association of Management Annual Meeting, Vancouver, British Columbia, Canada, August 2-5, 1995, Volume 13, Number 1, pp. 61-66. (with T. Davies, G. Iverson and S. Tracy)

"Academic Performance in Business Core Courses: A Discipline-Gender Exploration," Proceedings of the Thirty-sixth Annual Meeting of the Ohio Region of the American Accounting Association, Toledo, Ohio May 5-6, 1995. (with R. Lau, R. Rosacker, K. Rosacker)

"Municipal Audit Fees: Has Increased Competition Made a Difference?" Auditing: A Journal of Theory and Practice, Spring 1995, pp. 105-114. (with G. Sanders and A. Allan)

"ISO 9000: What It Means for Management Accountants and Auditors," Proceedings of Pan-Pacific Conference XI: A Business, Economic and Technological Exchange, Bangkok, Thailand, June 2-4, 1994. (with S. Ragothaman)

"A Comparative Analysis of Solid Waste Impact Fees in Iowa, Nebraska and South Dakota," Thirty-Eighth Annual Great Plains Waste Management Conference, Omaha, Nebraska, March 17, 1994 [presentation only].

"Sales and Use Tax Issues: An Overview of the Sales/Use Tax Exemption for Manufacturing Machinery and Equipment," Institute of Management Accountants, Sioux City, Iowa, February 15, 1994 [presentation only].

"A Preliminary Analysis of Student Performance in Business Core Courses," Business Trends for the 21st Century: Proceedings of the Third Annual Academy of Business Administration Conference, 1994, pp. 15-22. Las Vegas, Nevada. (with R. E. Rosacker)

"The Bottom Line of Disposal Operations," Third Annual Recycling and Solid Waste Conference, South Dakota Solid Waste Management Association, Pierre, South Dakota, September 28, 1993 [presentation only].

"A Preliminary Assessment of Systematic Grading Bias in the Principles of Accounting Courses," Ray Dein Accounting Colloquium, University of Nebraska, Lincoln, Nebraska, September 25, 1993 [presentation only].

"Voluntary Regulatory Accounting Principles and the Timing of Regulator Intervention: Documenting the Obvious," The Third Critical Perspectives on Accounting Symposium: Critically Reappraising Accounting, New York, April 16-18, 1993 [presentation only - adapted from doctoral dissertation].

"Quality Control: An Investigation of Alternative Management Policies," Journal of Applied Business Research, Spring 1987, pp. 39-46. (with V. Bean)

"A Generalized Mathematical Model for Estate Planning," Proceedings of the Seventeenth Annual Meeting of the Midwest Decision Sciences Institute, April 1986, pp. 205-207. (with V. Bean)