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    <title>EconStor Community: Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU)</title>
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      <title>Applying Benford's Law to individual financial reports: An empirical investigation on the basis of SEC XBRL filings</title>
      <link>http://hdl.handle.net/10419/55146</link>
      <description>Title: Applying Benford's Law to individual financial reports: An empirical investigation on the basis of SEC XBRL filings
&lt;br/&gt;
&lt;br/&gt;Authors: Henselmann, Klaus; Scherr, Elisabeth; Ditter, Dominik
&lt;br/&gt;
&lt;br/&gt;Abstract: This study examines whether investors could use Benford's Law as an aid in determining high-risk areas for investing within their process of decision-making. The business reporting standard XBRL offers the opportunity to easily extract and analyze a sufficient number of monetary items out of single annual reports for statistical analysis purposes. Using SEC XBRL filings of S&amp;P 500 companies (Fiscal Year 2010), we derive first digit distributions for single companies and measure the deviation from the Benford distribution. On average, we find that for all monetary numbers that are contained in the examined XBRL reports, the first digit distribution follows Benford's Law. A firm and industry-specific analysis reveals the industry Financials as being most conspicuous. Taken together, the empirical results suggest that the application of Benford's Law to annual reports might be a useful analytical tool for investors.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear's theory of entrepreneurship with German data</title>
      <link>http://hdl.handle.net/10419/55037</link>
      <description>Title: Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear's theory of entrepreneurship with German data
&lt;br/&gt;
&lt;br/&gt;Authors: Lechmann, Daniel S. J.; Schnabel, Claus
&lt;br/&gt;
&lt;br/&gt;Abstract: Using a large representative German data set and various concepts of self-employment, this paper tests the 'jack-of-all-trades' view of entrepreneurship by Lazear (AER 2004). Consistent with its theoretical assumptions we find that self-employed individuals perform more tasks and that their work requires more skills than that of paid employees. In contrast to Lazear's assumptions, however, self-employed individuals do not just need more basic but also more expert skills than employees. Our results also provide only very limited support for the idea that human capital investment patterns differ between those who become self-employed and those ending up in paid employment.</description>
      <pubDate>Fri, 29 Oct 2010 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Applying Benford's Law to individual financial reports: An empirical investigation on the basis of SEC XBRL filings</title>
      <link>http://hdl.handle.net/10419/55146</link>
      <description>Title: Applying Benford's Law to individual financial reports: An empirical investigation on the basis of SEC XBRL filings
&lt;br/&gt;
&lt;br/&gt;Authors: Henselmann, Klaus; Scherr, Elisabeth; Ditter, Dominik
&lt;br/&gt;
&lt;br/&gt;Abstract: This study examines whether investors could use Benford's Law as an aid in determining high-risk areas for investing within their process of decision-making. The business reporting standard XBRL offers the opportunity to easily extract and analyze a sufficient number of monetary items out of single annual reports for statistical analysis purposes. Using SEC XBRL filings of S&amp;P 500 companies (Fiscal Year 2010), we derive first digit distributions for single companies and measure the deviation from the Benford distribution. On average, we find that for all monetary numbers that are contained in the examined XBRL reports, the first digit distribution follows Benford's Law. A firm and industry-specific analysis reveals the industry Financials as being most conspicuous. Taken together, the empirical results suggest that the application of Benford's Law to annual reports might be a useful analytical tool for investors.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Unemployment, commuting, and search intensity</title>
      <link>http://hdl.handle.net/10419/52732</link>
      <description>Title: Unemployment, commuting, and search intensity
&lt;br/&gt;
&lt;br/&gt;Authors: Wrede, Matthias
&lt;br/&gt;
&lt;br/&gt;Abstract: Employing a standard matching unemployment model extended by within-labor-market-regions commuting, this paper analyzes the tradeoff between commuting costs and unemployment. Depending on whether commuters are able to bargain for fringe benefits, search may or may not be biased towards distant workplaces and less productive centers. As a consequence, unemployment benefits should be tied to search in high productivity regions. Using German county data, the paper tests some positive predictions that emerge from of the model. In particular, it confirms that increasing labor market tightness reduces the willingness to out-commute.</description>
      <pubDate>Fri, 29 Oct 2010 22:58:59 GMT</pubDate>
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