CONTACT INFORMATION
Office:	308 Kalkin  FIND OFFICE
Phone:	656-5774
E-Mail:	chodgdon@bsad.uvm.edu
Office Hours:	T, TH 10:00-11:00 and 2:30-3:30 or by appointment

• BSAD 060 - Financial Accounting
  Section D, 110 Kalkin 8:30-9:45 TR - ON-LINE SYLLABUS
  Section Z4, 110 Kalkin 8:30-9:45 TR - ON-LINE SYLLABUS
   
• BSAD 264 - Introduction to Federal Taxation
  Section A, 325 Kalkin 1:00-2:15 TR - ON-LINE SYLLABUS
  Section Z1, 325 Kalkin 1:00-2:15 TR - ON-LINE SYLLABUS

Publication History

Journal Article, Academic Journal

• Hodgdon, C. D.; Tondkar, R. H.; Harless, D. W.; Adhikari, A. - "Compliance with International Financial Reporting Standards and Auditor Choice: New Evidence on the Importance of the Statutory Audit" (Refereed) - International Journal of Accounting - 2009 - v. 44, no. 1, pp. 33-55 [View publication] [Show/Hide Abstract]
  Abstract: We examine the impact of auditor choice on IFRS compliance under the assumption of strict exogeneity of auditor choice. Our results reveal that compliance is positively related to auditor choice after controlling for firm size, profitability, leverage, degree of international diversification, and whether a firm has a U.S. listing or was audited according to International Standards of Auditing. We also find that auditor choice is positively related to firm compliance when controlling for unmeasured, firm-specific effects. The results of our study reinforce the importance of developing institutional mechanisms (e.g., enforcement, auditing, or corporate governance structures) to encourage compliance with IFRS.
  
• Hodgdon, C. D.; Tondkar, R. H.; Harless, D. W.; Adhikari, A. - "Compliance with IFRS Disclosure Requirements and Individual Analysts' Forecast Accuracy" (Refereed) - Journal of International Accounting, Auditing, and Taxation - 2008 - v. 17, no. 1, pp. 1-13 [View publication] [Show/Hide Abstract]
  Abstract: We investigate the relationship between the accuracy of analysts' earnings forecasts and firm compliance with the disclosure requirements of International Accounting Standards (IAS). We measure compliance with IAS using a comprehensive disclosure checklist of selected IAS for which previous research has indicated significant noncompliance. We document that forecast error is negatively related to IAS compliance, and that the magnitude of this effect is larger when controlling for analyst fixed effects. Our findings suggest that compliance with the disclosure requirements of IAS reduces information asymmetry and enhances the ability of financial analysts to provide more accurate forecasts. Our findings also support the viewpoint that the extent to which accounting standards are complied with is as important as the standards themselves. Our results are robust to alternative forecast horizons, forecast-error deflators, outlying values of forecast error, and the assumption of independence of individual analysts' forecast errors.
  
• Novak, D. C.; Hodgdon, C. D.; Aultman-Hall, L. - "Nationwide Freight Generation Models: A Spatial Approach" (Refereed) - Networks and Spatial Economics - 2008 [View publication] [Show/Hide Abstract]
  Abstract: This paper investigates the application of linear regression models and modeling techniques in predicting freight generation at the national level within the U.S. Specifically, the paper seeks to improve the performance and fit of linear regression models of freight generation. We provide insight into different variable transformation techniques, evaluate the use of spatial regression variables, and apply a spatial regression modeling methodology to correct for spatial autocorrelation. We conclude that the spatial regression model is the preferred specification for freight generation at the national level. The proliferation of Geographic Information Systems (GIS) within planning agencies affords more widespread ease of use of spatial regression and our results indicate this technique would provide improvement to models that have been traditionally limited by insufficient data.
  
• Cairney, T.; Hodgdon, C. D.; O, S. - "The Effects of Individual, Institutional, and Market Factors on Business School Faculty Beliefs About Grades" (Refereed) - Review of Business Research - 2008 - v. 8, no. 3, pp. 131-138 [Show/Hide Abstract]
  Abstract: This study presents the results of a web-based survey about the grading beliefs of a sample of U.S. business school faculty. Two dimensions of grading beliefs are examined: the gatekeeper belief and the frame-of-reference (norm versus criterion) belief. We find that faculty in the business courses with more of a theoretical pedagogy (i.e., the more quantitative disciplines) have a stronger gatekeeper belief than do the faculty of the courses with a more skills-oriented pedagogy (i.e., the more qualitative disciplines). We also find that faculty from theoretically-oriented disciplines have greater norm-referenced grading beliefs and faculty from the more skills-oriented disciplines have lower norm-referenced grading beliefs. Furthermore, we find that the individual faculty attributes we tested indicate that more vulnerable faculty, such as untenured faculty and instructors, have greater criterion-referenced beliefs. Lastly, we find that institutional pressures mainly affect frame-of-reference beliefs and market influences mainly affect gatekeeper beliefs. For example, we find that faculty in schools that service more national/international firms tend to have greater norm-referenced beliefs, which suggests that larger firms would like colleges to rank students to allow for a more informed choice for their large employment needs.
  
• Cairney, T.; Hodgdon, C. D.; O, S.; Dyer, J. - "Academic Discipline and Beliefs About the Purpose of Grades: A Cross-Sectional Study of Business School Faculty" (Refereed) - Review of Business Research - 2006 - v. 6, no. 4, pp. 123-132 [Show/Hide Abstract]
  Abstract: This study presents results of a web-based survey about the grading beliefs of a sample of U.S. business school faculty. Two dimensions of beliefs are examined: the gatekeeper belief and the frame-of-reference (norm versus criterion). Using a national, cross-sectional sample of business school faculty, we find significant differences among business disciplines which suggest that our various areas provide different, but complementary, evaluations of student performance. For instance, the more factual business disciplines exhibit stronger gatekeeper beliefs while the more qualitative business disciplines exhibit weaker gatekeeper beliefs. Similar differences exist for the frame-of-reference that faculty use in assigning grades. We believe the results have implications for student assessment by employers and for expanding course content within disciplines.
  
• Tondkar, R. H.; Peng, S.; Hodgdon, C. D. - "The Chinese Securities Regulatory Commission and the Regulation of Capital Markets in China" (Refereed) - Advances in International Accounting - 2003 - v. 16, pp. 153-174 [Show/Hide Abstract]
  Abstract: The rapid development of China's capital markets necessitated the establishment of a regulatory agency that would administer market operations and protect investors' interests. The Chinese Securities Regulatory Commission (CSRC) was established in 1992 for this purpose. In 1999, the Chinese Securities Law recognized the CSRC as the sole regulatory agency responsible for regulating securities instruments and markets in China.
  
  Although the CSRC is considered instrumental to Chinese accounting reforms and capital market development, it has remained relatively unexamined in the accounting literature. This paper contributes to the accounting literature by providing insight into an important regulatory agency that has enormous impact on the economic development of China. Specifically, this paper discusses the CSRC's establishment and development, its regulatory efforts, and its achievements and shortcomings in its efforts to regulate China's emerging capital markets. The underlying factors that explain some of the CSRC's regulatory actions are also analyzed by discussing several cases involving fraudulent financial reporting.
  
  
• Hodgdon, C. D.; Tondkar, R. H.; Coffman, E. N. - "Foreign Issuers in U.S. Capital Markets: An Enforcement Perspective" (Refereed) - Advances in International Accounting - 2000 - v. 13, pp. 133-152 [Show/Hide Abstract]
  Abstract: Recent initiatives by various governments and regulatory agencies to relax and simplify the listing and filing requirements for foreign companies indicate that the regulatory requirements imposed on foreign issuers is a major factor contributing to the competitive advantage of some capital markets. This paper examines SEC enforcement actions and court cases brought against foreign issuers suspected of violating U.S. securities laws. The paper briefly discusses the current accounting and reporting requirements for foreign companies registered with the SEC, as well as the disclosure liability which may result from violations of the Securities Acts. The paper provides sources of financial reporting guidance for foreign issuers, and discusses the SEC's strategy of establishing reciprocal relationships with foreign regulatory authorities in its regulation of foreign issuers. Finally, the paper examines recent case law and the SEC's enforcement actions against foreign registrants accused of fraudulent reporting or violating disclosure provisions of the Securities Acts.