Accounting education focuses on delivering knowledge to students. Most student are passive, behaving as bystanders or listeners in lecturer-oriented learning. However, student-centered learning requires active and positive engagement from students to generate effective learning. Board games represent a key driving tool in inducing student participation and interest in active learning. This study investigates whether the active participation of students in class activities has positive effects on accounting education. Specifically, it tests whether active student involvement in board game activities in introductory accounting courses contributes to effective learning. There were a few key findings. Firstly, the more actively that students participate in the game, the higher their favorable changes are in terms of perception of accounting. Secondly, the higher their positive perceptions are, the higher the effects of accounting education are. These results imply that the active involvement of learners is a precondition for the effect of accounting education activities, and that positive perception is a mediator for learning effects.
When capital investments are made in an agency setting, we show that, even without risk considerations, capital rationing need not be the only rational outcome. We analyze a principal-agent model with risk neutrality and with two productive inputs: the agent's efforts and capital investment. The two inputs can be either economic complements or substitutes. The agent has pre-contract private information about his own type. The output is measured with an additive noise. We show that when the two inputs are substitutes, the optimal solution entails a marginal capital rationing. But when the two inputs are complements, then either a marginal capital rationing or a marginal leniency could be the optimal response. Our results, therefore, provide an explanation for why firms may employ a capital rationing for a project that may increase manufacturing complexity and hence may reduce (managerial) labor productivity, yet employ a less strict criterion for evaluating a productivity-enhancing project. This result contrasts with earlier results where only a capital rationing is shown to be optimal.project evaluation, capital rationing, agency, pre-contract private information
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