Abacus

The owner of Abacus, the Accounting Foundation, funds a US$10,000 Annual Manuscript Award for the best article published in each calendar year. The Award aims to reinforce the Journal's continuing decision-useful focus explicit in its objectives, which have stemmed from the vision of the founder of Abacus, Ray Chambers.

Latest winners

In 2011 the Award was presented to Chris Nobes for his article IFRS Practices and the Persistence of Accounting System Classification, Audrey Wen-Hsin Hsu, John O'Hanlon and Ken Peasnell for their article Financial Distress and the Earnings-Sensitivity-Difference Measure of Conservatism, and Irene Karamanou for her article On the Determinants of Optimism in Financial Analyst Earnings Forecasts: The Effect of the Market's Ability to Adjust for the Bias.

The Award for 2012 will be presented at the AAA conference in August 2013.

You can also read previous winning articles.

Read the top Abacus articles online:

Fair Value and the IASB/FASB Conceptual Framework Project: An Alternative View
Geoffrey Whittington

Assessing the Impact of Fair-Value Accounting on Financial Statement Analysis: A Data Envelopment Analysis Approach
Gonzalo Rodríguez-Pérez, John Slof, Magda Solà, Margarita Torrent and Immaculada Vilardell

Measurement in Financial Reporting
Geoffrey Whittington

Principles- Versus Rules-Based Accounting Standards: The FASB's Standard Setting Strategy
George J. Benston, Michael Bromwich and Alfred Wagenhofer

Environmental Reporting and its Relation to Corporate Environmental Performance
Peter M. Clarkson, Michael B. Overell and Larelle Chapple

You can read the virtual issue Revisiting Ray Chambers' Exit Price Accounting: Fair Value Accounting and the Global Financial Crisis online now. The virtual issue brings together a range of Ray Chambers' articles published between 1965 and 1998.

Only when we openly discuss what is inadequate or questionable with our own theories can we lay claim to scientific ‘objectivity’. The papers published in this issue contain the unedited positions on the CAPM of well-known finance researchers as reactions to the main paper of Dempsey, who adopts a critical and therefore provocative standpoint. It is the editor’s belief that the free and frank academic discussion provoked by Dempsey’s paper is not only essential to a mature field but is also of great academic and communal enjoyment.

Editorial

The CAPM Debate and the Logic and Philosophy of Finance
D. J. Johnstone

Original article

The Capital Asset Pricing Model (CAPM): The History of a Failed Revolutionary Idea in Finance?
Mike Dempsey

Discussions

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Karen Benson and Robert Faff

The Capital Asset Pricing Model: A Revolutionary Idea in Finance!
Hendrick Berkman

The Failure of the Capital Asset Pricing Model (CAPM): An Update and Discussion
Graham Bornholt

The CAPM: Theoretical Validity, Empirical Intractability and Practical Applications
Philip Brown and Terry Walter

Consequences of the Capital Asset Pricing Model (CAPM)—a Critical and Broad Perspective
Charlie X. Cai, Iain Clacher and Kevin Keasey

The Capital Asset Pricing Model (CAPM): The History of a Failed Revolutionary Idea in Finance? Comments and Extensions
Imad A. Moosa

Death Where is Thy Sting? A Response to Dempsey’s Despatching of the CAPM
Graham Partington

Why the CAPM is Half-Right and Everything Else is Wrong
Tom Smith and Kathleen Walsh

Comments and Perspectives on ‘The Capital Asset Pricing Model’
Avanidhar Subrahmanyam

The CAPM: A Case of Elegance is for Tailors?
Mike Dempsey

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For nearly 50 years Abacus has consistently provided a vehicle for the expression of independent and critical thought on matters of current academic and professional interest in accounting, finance and business. The ISI-listed journal reports current research; critically evaluates current developments in theory and practice; analyses the effects of the regulatory framework of accounting, finance and business; and explores alternatives to, and explanations of, past and current practices.