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The Predictors of Non-Financial Reporting Quality in Romanian State-Owned Enterprises 罗马尼亚国有企业非财务报告质量的预测因素
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2022-01-02 DOI: 10.1080/17449480.2021.2018474
V. Dragomir, M. Dumitru, L. Feleagă
ABSTRACT This paper focuses on the predictors of non-financial reporting (NFR) quality by state-owned enterprises (SOEs). The predictors under consideration are the quality of the corporate governance system (assessed through a comprehensive index), state ownership concentration, industry sector characteristics, and company size. Our cross-sectional sample consists of data for 63 state-controlled enterprises in Romania for the financial year 2018. The data were collected by hand, using two new instruments: a content analysis scale for NFR according to the European Directive 2014/95/EU and a corporate governance index for SOEs. We classify Romanian SOEs into two clusters: ‘high disclosure – good governance’ and ‘low disclosure – poor governance,’ for which we present the particularities of NFR and corporate governance. In line with agency theory and stakeholder theory, we show that the NFR quality score is positively correlated with the corporate governance score, company size, environmental impact, monopolistic position, and the state’s strategic interest, but negatively correlated with state ownership concentration. Our results also indicate that an increase in the state’s blockholding will negatively affect the quality of the corporate governance system, and will ultimately decrease the quality of the company’s non-financial disclosures. We conclude that the quality of the governance system is a mediating variable between the state’s ownership concentration and the quality of NFR. Our results are helpful to professionals and policymakers in understanding the path toward the material harmonization of reporting practices at a European level for SOEs and private entities alike.
摘要本文主要研究国有企业非财务报告质量的预测因素。所考虑的预测因素是公司治理体系的质量(通过综合指数评估)、国有股权集中度、行业特征和公司规模。我们的横断面样本包括罗马尼亚63家国有企业2018财年的数据。这些数据是使用两种新工具手工收集的:根据欧洲指令2014/95/EU的NFR内容分析量表和国有企业的公司治理指数。我们将罗马尼亚国有企业分为两类:“高披露-良好治理”和“低披露-不良治理”,我们介绍了NFR和公司治理的特殊性。根据代理理论和利益相关者理论,我们发现NFR质量分数与公司治理分数、公司规模、环境影响、垄断地位和国家战略利益呈正相关,但与国家所有权集中度呈负相关。我们的研究结果还表明,该州整体持股的增加将对公司治理体系的质量产生负面影响,并最终降低公司非财务披露的质量。我们得出的结论是,治理体系的质量是国家所有权集中度和NFR质量之间的中介变量。我们的研究结果有助于专业人士和政策制定者了解在欧洲层面实现国有企业和私营实体报告实践实质性协调的途径。
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引用次数: 8
Climate Change Risk Disclosure in Europe: The Role of Cultural-Cognitive, Regulative, and Normative Factors 欧洲气候变化风险披露:文化认知、调节和规范因素的作用
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2022-01-02 DOI: 10.1080/17449480.2022.2026000
Silvia Panfilo, Joanna Krasodomska
ABSTRACT Climate change is a key issue faced by the contemporary world. Through the lens of neoinstitutionalism and the normativity concept, this study examines whether cultural, regulative, and normative dimensions affect the quality of climate change risk disclosures. This paper uses a sample of 653 European companies and measures the quality of their disclosures based on Carbon Disclosure Project (CDP) ratings. The results show that the quality of such disclosures is associated with cultural and normative dimensions, but substantive legitimacy is found to be influenced by all the examined institutional factors. The interactions between the examined cultural and normative dimensions are shown to be (not) important for firms that operated in weaker (stronger) regulative contexts prior to Directive 2014/95/EU. This study provides a better understanding of the challenges related to climate change reporting and the role of institutional differences in the process of achieving normativity in cross-national contexts such as that of the European Union.
摘要气候变化是当今世界面临的一个关键问题。通过新制度主义和规范性概念的视角,本研究考察了文化、调节和规范维度是否影响气候变化风险披露的质量。本文使用653家欧洲公司的样本,并根据碳披露项目(CDP)评级来衡量其披露的质量。研究结果表明,此类披露的质量与文化和规范层面有关,但实体合法性受到所有受审查的制度因素的影响。对于在2014/95/EU指令之前在较弱(较强)监管环境中运营的公司来说,所审查的文化和规范维度之间的互动是(不)重要的。这项研究更好地了解了与气候变化报告相关的挑战,以及在跨国家背景下(如欧盟)实现规范化过程中体制差异的作用。
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引用次数: 11
The Future of Corporate Reporting 企业报告的未来
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2022-01-02 DOI: 10.1080/17449480.2022.2033804
Charles H. Cho, Peter Kajüter, R. Stacchezzini
This Special Issue originates from the Symposium titled: ‘ Challenges in Corporate Reporting: The Role for the Academic Community in “ Non-Financial ” Reporting ’ , which took place at the 42nd European Accounting Association (EAA) Annual Congress in May 2019 in Paphos, Cyprus, and was attended by one of the guest editors as a panelist. 1 The Call for Papers was open and public, hence inviting any researcher interested in the subject to submit a manuscript. It aimed to provide a high-quality outlet for presenting research insights and fi ndings from various perspectives on corporate reporting. passing rigorous peer
本期特刊源于2019年5月在塞浦路斯帕福斯举行的第42届欧洲会计协会(EAA)年会上举行的题为“公司报告中的挑战:学术界在“非财务”报告中的作用”的研讨会,并由一位客座编辑作为小组成员参加。论文征集是公开和公开的,因此邀请任何对该主题感兴趣的研究人员提交手稿。它旨在提供一个高质量的出口,展示研究的见解和发现从不同的角度对公司报告。通过严格的同行
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引用次数: 7
The Effect of Business Strategy on Risk Disclosure 企业战略对风险披露的影响
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2022-01-02 DOI: 10.1080/17449480.2021.2018473
Véronique Weber, Anke Müssig
ABSTRACT For a sample of nonfinancial and non-utility firms from the European Economic Area in 2005–2017, we find that a firm’s business strategy is a determinant of the amount of risk factor information in the annual report. Firms with an innovation-oriented prospector strategy report more about their risk factors than firms with an efficiency-oriented defender strategy. This is because, first, these innovation-oriented prospectors face greater risks and uncertainties and the regulator and enforcement institution expect them to report these accordingly in the annual report. Second, given the discretion the firms have in disclosing risks, prospectors are more likely to engage in voluntary disclosure. It seems that the benefits outweigh the costs of revealing proprietary information. Further, our findings reveal that business strategy influences the coverage of the main risk topics and risk disclosure complexity. Additionally, the influence of business strategy on risk disclosure is stronger for small, young, and low-technology firms.
摘要通过对2005-2017年欧洲经济区非金融和非公用事业企业的样本分析,我们发现企业的经营战略是年度报告中风险因素信息量的决定因素。采用创新导向的探矿者战略的公司比采用效率导向的捍卫者战略的公司报告更多的风险因素。这是因为,首先,这些以创新为导向的勘探者面临着更大的风险和不确定性,监管机构和执法机构希望他们在年度报告中相应地报告这些风险和不确定因素。其次,考虑到公司在披露风险方面的自由裁量权,探矿者更有可能自愿披露。披露专有信息的好处似乎大于成本。此外,我们的研究结果表明,商业策略会影响主要风险主题的覆盖范围和风险披露的复杂性。此外,小型、年轻和低技术公司的商业战略对风险披露的影响更大。
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引用次数: 9
Non-Financial Disclosure and Corporate Financial Performance Under Directive 2014/95/EU: Evidence from Italian Listed Companies 2014/95/EU指令下的非财务披露与公司财务绩效:来自意大利上市公司的证据
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-10-20 DOI: 10.1080/17449480.2021.1979610
Marisa Agostini, Ericka Costa, Blerita Korca
Abstract This paper investigates the impact of Directive 2014/95/EU on both the quantity and quality of non-financial disclosure (NFD) and its relationship with corporate financial performance (CFP) in 20 Italian listed companies. The current study considers both the annual reports (AR) and social and environmental reports (SER) released two years prior (2015–2016) and two years after (2017–2018) the Directive’s application. A manual content analysis was conducted and OLS regression analyses were carried out to evaluate the relationship between NFD and CFP, measured by ROA, ROE and Tobin’s Q. The findings show that the Directive affected the quantity of NFD, but not the quality, and that a transfer of information occurred from the different reporting mediums considered. Overall, NFD quality is significant and positively associated with CFP when measured by ROA and ROE, however, the mandatory NFD quality following the Directive does not show a significant relationship with CFP.
摘要本文研究了2014/95/EU指令对20家意大利上市公司非财务披露数量和质量的影响及其与公司财务业绩的关系。目前的研究考虑了该指令应用两年前(2015-2016)和两年后(2017-2018)发布的年度报告(AR)和社会与环境报告(SER)。进行了手动内容分析,并进行了OLS回归分析,以评估通过ROA、ROE和Tobin’s Q测量的NFD和CFP之间的关系。研究结果表明,该指令影响了NFD的数量,但没有影响质量,并且信息传递来自所考虑的不同报告介质。总的来说,当通过ROA和ROE测量时,NFD质量是显著的,并且与CFP呈正相关,然而,遵循该指令的强制性NFD质量与CFP没有显示出显著的关系。
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引用次数: 19
Board of Directors and Corporate Social Reporting: A Systematic Literature Network Analysis 董事会与企业社会报告:系统文献网络分析
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-10-03 DOI: 10.1080/17449480.2021.1979609
Giovanna Afeltra, Alireza Alerasoul, Berto Usman
ABSTRACT Over the last decade, the body of literature on the relationship between corporate governance mechanisms (board composition and its characteristics) and ‘corporate social reporting’ has seen increasing attention from academics. However, no significant studies attempt to systematise the body of literature highlighting the advancement of knowledge in this field. The main objective of this study is to identify the flow of knowledge in this area by applying a chronological approach to the traditional Systematic Literature Review (SLR), which is called Systematic Literature Network Analysis (SLNA). We found 21 papers that constitute the Main Path of knowledge and four clusters from the co-occurrence analysis of authors’ keywords: i) ‘The influencing factors of social disclosure’; ii) ‘Assurance practices and CSR reporting’; iii) ‘Integrated reporting and Sustainability reporting’; iv) ‘The relationship between intellectual capital disclosure and corporate governance’; v) ‘The relevant theories.’ Finally, future avenues of research are suggested.
在过去的十年中,关于公司治理机制(董事会组成及其特征)与“公司社会报告”之间关系的文献越来越受到学术界的关注。然而,没有重要的研究试图系统化的文献体突出的知识在这一领域的进步。本研究的主要目的是通过对传统的系统文献综述(SLR)应用时间顺序方法,即系统文献网络分析(SLNA),来确定这一领域的知识流动。通过对作者关键词的共现分析,我们发现21篇论文构成了知识的主要路径和4个聚类:1)“社会披露的影响因素”;ii)“鉴证实践和企业社会责任报告”;iii)“综合报告和可持续发展报告”;“智力资本披露与公司治理的关系”;v)“相关理论”。最后,提出了今后的研究方向。
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引用次数: 3
On Translating Goodwill 论商誉的翻译
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-07-16 DOI: 10.1080/17449480.2021.1952284
C. Nobes
Abstract The IASB’s plans to reform accounting for goodwill prompt this paper’s discussion of the translation of the signifier ‘goodwill’ (and the related terms: depreciation, amortisation and impairment). As a translation problem, this is unusually interesting because there are at least three different types of goodwill but all with the same signifier in English. The paper begins by noting the difficulties which biblical translators have had with ‘goodwill’. It then outlines the different types of accounting goodwill, recording the many terms used in eight languages. This includes a study of national regulations and the specific problems of translating IFRS. The discussion is extended to include the approaches in different languages about whether or not to distinguish depreciation from amortisation and how to translate ‘impairment’. Implications for researchers and standard-setters are drawn. This includes the need for terms which are accurately defined and which have been chosen with an eye on potential translations problems.
国际会计准则理事会(IASB)改革商誉会计的计划促使本文讨论了能指“商誉”(以及相关术语:折旧、摊销和减值)的翻译。作为一个翻译问题,这是非常有趣的,因为至少有三种不同类型的善意,但在英语中都有相同的能指。本文首先指出圣经译者在“善意”方面遇到的困难。然后,它概述了不同类型的会计商誉,记录了用八种语言使用的许多术语。这包括对国家法规和翻译国际财务报告准则的具体问题的研究。讨论扩展到包括关于是否区分折旧和摊销以及如何翻译“减值”的不同语言的方法。对研究人员和标准制定者的启示。这包括需要准确定义术语,并且选择术语时要考虑到潜在的翻译问题。
{"title":"On Translating Goodwill","authors":"C. Nobes","doi":"10.1080/17449480.2021.1952284","DOIUrl":"https://doi.org/10.1080/17449480.2021.1952284","url":null,"abstract":"Abstract The IASB’s plans to reform accounting for goodwill prompt this paper’s discussion of the translation of the signifier ‘goodwill’ (and the related terms: depreciation, amortisation and impairment). As a translation problem, this is unusually interesting because there are at least three different types of goodwill but all with the same signifier in English. The paper begins by noting the difficulties which biblical translators have had with ‘goodwill’. It then outlines the different types of accounting goodwill, recording the many terms used in eight languages. This includes a study of national regulations and the specific problems of translating IFRS. The discussion is extended to include the approaches in different languages about whether or not to distinguish depreciation from amortisation and how to translate ‘impairment’. Implications for researchers and standard-setters are drawn. This includes the need for terms which are accurately defined and which have been chosen with an eye on potential translations problems.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"18 1","pages":"407 - 418"},"PeriodicalIF":2.8,"publicationDate":"2021-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2021.1952284","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43329157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Do Risk Disclosures Matter for Bank Performance? A Moderating Effect of Risk Committee 风险披露对银行业绩重要吗?风险委员会的调节作用
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-07-01 DOI: 10.1080/17449480.2021.1942095
S. Nahar, M. Jahan
Abstract This study examines whether risk disclosure and risk committee are associated with major banks’ performance worldwide. We also test whether the composition of a risk committee moderates (i.e. strengthens or weakens) this relationship. Using 1760 bank-year observations of 160 banks across 45 countries for the years 2006–2016, we find that risk disclosure and risk committees are associated with a bank’s overall performance. In addition, the findings suggest that the composition of a risk committee moderates the relationship between risk disclosure and bank performance. The results support the contention that risk disclosure and risk committee can be used as a channel to optimise the performance of a bank. Conclusions reflect on how the agency, signalling, and resource-based theories inform this phenomenon. This paper advances our understanding of the role of risk committee characteristics on the relationship between risk disclosures and bank performance from both theoretical and empirical perspectives, suggesting risk committee is not a panacea for risk monitoring. However, the existence of a strong risk committee is vital for effective risk governance. Findings from this research may have valuable practical and policy implications, particularly in the banking sector.
摘要本研究考察了风险披露和风险委员会是否与全球主要银行的业绩有关。我们还测试了风险委员会的组成是否会缓和(即加强或削弱)这种关系。通过对45个国家的160家银行在2006年至2016年的1760个银行年度的观察,我们发现风险披露和风险委员会与银行的整体业绩有关。此外,研究结果表明,风险委员会的组成调节了风险披露与银行业绩之间的关系。研究结果支持了这样一种观点,即风险披露和风险委员会可以作为优化银行业绩的渠道。结论反映了代理、信号和基于资源的理论是如何影响这一现象的。本文从理论和实证两个角度加深了我们对风险委员会特征在风险披露与银行绩效之间关系中的作用的理解,表明风险委员会并不是风险监测的灵丹妙药。然而,一个强大的风险委员会的存在对于有效的风险治理至关重要。这项研究的结果可能具有宝贵的实践和政策意义,尤其是在银行业。
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引用次数: 6
From voluntary to mandatory non-financial disclosure following Directive 2014/95/EU: an Italian case study 根据2014/95/EU指令,从自愿到强制性非财务披露:意大利案例研究
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-05-30 DOI: 10.1080/17449480.2021.1933113
Blerita Korca, Ericka Costa, Federica Farneti
Abstract This study investigates the non-financial disclosure in an Italian banking group following Directive 2014/95/EU over a period of eight years, from its voluntary (2013–2017) to mandatory (2018–2020) implementation. The paper relies both on primary and secondary data sources. It first adopts a content analysis on non-financial reports while considering other relevant available material. Second, the study relies upon semi-structured interviews and seminars to gather primary data. The analysis has been interpreted in light of institutional theory in order to understand the institutional forces driving non-financial disclosure. Results show that non-financial disclosure significantly increased in quantity after the regulation; however, the improvement in quality is fairly low, with the exception of themes relevant to the company under investigation. Through the lens of institutional theory, it emerges that an interplay of institutional mechanisms co-existed within the bank, during two periods of reporting for different topics of disclosure.
摘要本研究调查了意大利银行集团根据2014/95/EU指令在八年内的非财务披露情况,从其自愿(2013-2017)到强制(2018-2020)实施。该论文同时依赖于主数据源和辅助数据源。它首先对非财务报告进行内容分析,同时考虑其他相关的可用材料。其次,该研究依靠半结构化访谈和研讨会来收集初步数据。为了理解驱动非财务披露的制度力量,本文根据制度理论对该分析进行了解释。研究结果表明,非财务信息披露在监管后数量显著增加;然而,除了与被调查公司相关的主题外,质量的改善程度相当低。从制度理论的角度来看,在不同披露主题的两个报告期内,银行内部共同存在着制度机制的相互作用。
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引用次数: 28
Exploring the Going Concern Statement, Readability and Length Cues as Indicators of Distress at Italian Companies 探讨持续经营声明、可读性和长度线索作为意大利公司困境的指标
IF 2.8 Q1 BUSINESS, FINANCE Pub Date : 2021-05-27 DOI: 10.1080/17449480.2021.1933112
Cristina Gianfelici, Nourhene Benyoussef, Giuseppe Savioli
ABSTRACT This study explores the going concern statement, readability and length cues as indicators of Italian private companies in default. The results indicate that the disclosures of defaulting companies contain (1) low readability; (2) greater uncertainty and confusing information; and (3) a lengthy going concern statement compared to non-defaulting firms. This is the first study to analyse the going concern statement and its correlation with Italian default by comparing International Financial Reporting Standards (IFRS) and Italian Generally Accepted Accounting Principles (GAAP).
摘要本研究探讨了持续经营声明、可读性和长度线索作为意大利私营公司违约的指标。研究结果表明,违约公司信息披露存在:(1)可读性低;(2) 更大的不确定性和令人困惑的信息;以及(3)与未违约公司相比,持续经营声明冗长。这是第一项通过比较国际财务报告准则(IFRS)和意大利公认会计原则(GAAP)来分析持续经营报表及其与意大利违约的相关性的研究。
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引用次数: 2
期刊
Accounting in Europe
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