Pub Date : 2021-10-21DOI: 10.1108/IJAIM-05-2021-0093
Olga Fullana, Mariano González, David Toscano
{"title":"IFRS adoption and unconditional conservatism: an accrual-based analysis","authors":"Olga Fullana, Mariano González, David Toscano","doi":"10.1108/IJAIM-05-2021-0093","DOIUrl":"https://doi.org/10.1108/IJAIM-05-2021-0093","url":null,"abstract":"","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78402157","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}
Pub Date : 2021-10-14DOI: 10.1108/ijaim-01-2021-0024
C. McLaughlin, Stephen Armstrong, Maha W. Moustafa, Ahmed A. Elamer
Purpose This paper aims to empirically analyse specific characteristics of an audit committee that could be associated with the likelihood of corporate fraud/scandal/sanctions. Design/methodology/approach The sample includes all firms that were investigated by the Financial Reporting Council through the audit enforcement procedure from 2014 to 2019, and two matched no-scandal firms. It uses logistic binary regression analysis to examine the hypotheses. Findings Results based on the logit regression suggest that audit member tenure and audit committee meeting frequency both have positive associations to the likelihood of corporate scandal. Complementing this result, the authors find negative but insignificant relationships amongst audit committee female chair, audit committee female members percentage, audit committee qualified accountants members, audit committee attendance, number of shares held by audit committee members, audit committee remuneration, board tenure and the likelihood of corporate scandal across the sample. Research limitations/implications The results should help regulatory policymakers make decisions, which could be crucial to future corporate governance. Additionally, these results should be useful to investors who use corporate governance as criteria for investment decisions. Originality/value The authors extend, as well as contribute to the growing literature on the audit committee, and therefore, wider corporate governance literature and provide originality in that it is the first, to the knowledge, to consider two characteristics (i.e. remuneration and gender) in a UK context of corporate scandal. Also, the results imply that the structure and diversity of the audit committee affect corporate fraud/scandal/sanctions.
{"title":"Audit committee diversity and corporate scandals: evidence from the UK","authors":"C. McLaughlin, Stephen Armstrong, Maha W. Moustafa, Ahmed A. Elamer","doi":"10.1108/ijaim-01-2021-0024","DOIUrl":"https://doi.org/10.1108/ijaim-01-2021-0024","url":null,"abstract":"\u0000Purpose\u0000This paper aims to empirically analyse specific characteristics of an audit committee that could be associated with the likelihood of corporate fraud/scandal/sanctions.\u0000\u0000\u0000Design/methodology/approach\u0000The sample includes all firms that were investigated by the Financial Reporting Council through the audit enforcement procedure from 2014 to 2019, and two matched no-scandal firms. It uses logistic binary regression analysis to examine the hypotheses.\u0000\u0000\u0000Findings\u0000Results based on the logit regression suggest that audit member tenure and audit committee meeting frequency both have positive associations to the likelihood of corporate scandal. Complementing this result, the authors find negative but insignificant relationships amongst audit committee female chair, audit committee female members percentage, audit committee qualified accountants members, audit committee attendance, number of shares held by audit committee members, audit committee remuneration, board tenure and the likelihood of corporate scandal across the sample.\u0000\u0000\u0000Research limitations/implications\u0000The results should help regulatory policymakers make decisions, which could be crucial to future corporate governance. Additionally, these results should be useful to investors who use corporate governance as criteria for investment decisions.\u0000\u0000\u0000Originality/value\u0000The authors extend, as well as contribute to the growing literature on the audit committee, and therefore, wider corporate governance literature and provide originality in that it is the first, to the knowledge, to consider two characteristics (i.e. remuneration and gender) in a UK context of corporate scandal. Also, the results imply that the structure and diversity of the audit committee affect corporate fraud/scandal/sanctions.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87549607","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}
Pub Date : 2021-10-11DOI: 10.1108/ijaim-11-2020-0186
H. Amin, Ehab K. A. Mohamed, M. Hussain
Purpose This study aims to explore corporate governance (CG) practices that can lead to firms’ better performance in different organizational life cycles. The authors propose a configurational approach to explore how a set of CG practices combine in bundles to achieve high performance outcomes for firms across their corporate life cycles. Design/methodology/approach Fuzzy-set qualitative comparative analysis was used to analyze a sample of data of 21 countries and 9 industries. Data referred to the period of 9 years extending from the year 2005 to the year 2013. Findings This study reveals that there are multiple CG practices that exist through firms that can achieve high firm performance. Moreover, CG practices combine in different ways for firms in their growth, maturity and declining stages. Research limitations/implications This study demonstrates the value of using a configurational analytical approach to explore both the firm and country-specific CG practices (together) that engage firms to achieve the desired level of performance across the corporate life cycles. Practical implications The current study draws attention to the policymakers’ need to assess the current level of regulatory and competitive development of their countries and form policy accordingly. The approach used in the current research study not only offers the linkages between CG and performance to managers as incentives to comply with regulation but also to view CG-related activity as a strategic move. Social implications The approach used in the current research study not only offers the linkages between CG and performance to managers as incentives to comply with regulation but also to view CG-related activity as a strategic move. Originality/value This study broadening the focus of CG studies to include a rigorous explanation of the global CG phenomena and to provide effective solutions for the practitioners. Contribution to Impact This study demonstrates the value of using a configurational analytical approach to explore both the firm and country-specific CG practices (together) that engage firms to achieve the desired level of performance across the corporate life cycles.
{"title":"Corporate governance practices and firm performance: a configurational analysis across corporate life cycles","authors":"H. Amin, Ehab K. A. Mohamed, M. Hussain","doi":"10.1108/ijaim-11-2020-0186","DOIUrl":"https://doi.org/10.1108/ijaim-11-2020-0186","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore corporate governance (CG) practices that can lead to firms’ better performance in different organizational life cycles. The authors propose a configurational approach to explore how a set of CG practices combine in bundles to achieve high performance outcomes for firms across their corporate life cycles.\u0000\u0000\u0000Design/methodology/approach\u0000Fuzzy-set qualitative comparative analysis was used to analyze a sample of data of 21 countries and 9 industries. Data referred to the period of 9 years extending from the year 2005 to the year 2013.\u0000\u0000\u0000Findings\u0000This study reveals that there are multiple CG practices that exist through firms that can achieve high firm performance. Moreover, CG practices combine in different ways for firms in their growth, maturity and declining stages.\u0000\u0000\u0000Research limitations/implications\u0000This study demonstrates the value of using a configurational analytical approach to explore both the firm and country-specific CG practices (together) that engage firms to achieve the desired level of performance across the corporate life cycles.\u0000\u0000\u0000Practical implications\u0000The current study draws attention to the policymakers’ need to assess the current level of regulatory and competitive development of their countries and form policy accordingly. The approach used in the current research study not only offers the linkages between CG and performance to managers as incentives to comply with regulation but also to view CG-related activity as a strategic move.\u0000\u0000\u0000Social implications\u0000The approach used in the current research study not only offers the linkages between CG and performance to managers as incentives to comply with regulation but also to view CG-related activity as a strategic move.\u0000\u0000\u0000Originality/value\u0000This study broadening the focus of CG studies to include a rigorous explanation of the global CG phenomena and to provide effective solutions for the practitioners.\u0000\u0000\u0000Contribution to Impact\u0000This study demonstrates the value of using a configurational analytical approach to explore both the firm and country-specific CG practices (together) that engage firms to achieve the desired level of performance across the corporate life cycles.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86427941","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}
Pub Date : 2021-10-11DOI: 10.1108/ijaim-04-2021-0086
Mahmoud Elmarzouky, Khaldoon Albitar, K. Hussainey
Purpose This paper aims to investigate whether Covid-19 related information is associated with a higher level of performance disclosure in the annual reports. Furthermore, it examines the moderating effect of corporate governance on the relationship between Covid-19 and the performance disclosure by using three governance mechanisms: board size, board independence and gender diversity. Design/methodology/approach The authors use quantitative content analysis. The authors applied an automated textual analysis technique to measure the level of Covid-19 information and performance disclosure for the UK Financial Times Stock Exchange all-share non-financial firms. Findings The authors found a significant positive relationship between the Covid-19 disclosure and the firm performance disclosure in the annual reports. The authors also find that both board independence and gender diversity moderate the relationship between the Covid-19 related information and the level of performance disclosure in the annual reports. The authors further run a robustness analysis, which confirms the main results. Practical implications The finding is beneficial for the regulatory setters to better understand whether firms provide generic or meaningful Covid-19 information linked to the firm’s performance. The unique findings of this paper are relevant to regulators, governments, management, shareholders and academics. Originality/value The authors contribute to the literature in a unique and core research area not researched previously. The paper links the Covid-19 disclosure with the firm performance from the corporate narrative perspective. The paper underlines governance factors as a moderating role in this relationship by considering three main mechanisms: board size, board independence and gender diversity.
{"title":"Covid-19 and performance disclosure: does governance matter?","authors":"Mahmoud Elmarzouky, Khaldoon Albitar, K. Hussainey","doi":"10.1108/ijaim-04-2021-0086","DOIUrl":"https://doi.org/10.1108/ijaim-04-2021-0086","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate whether Covid-19 related information is associated with a higher level of performance disclosure in the annual reports. Furthermore, it examines the moderating effect of corporate governance on the relationship between Covid-19 and the performance disclosure by using three governance mechanisms: board size, board independence and gender diversity.\u0000\u0000\u0000Design/methodology/approach\u0000The authors use quantitative content analysis. The authors applied an automated textual analysis technique to measure the level of Covid-19 information and performance disclosure for the UK Financial Times Stock Exchange all-share non-financial firms.\u0000\u0000\u0000Findings\u0000The authors found a significant positive relationship between the Covid-19 disclosure and the firm performance disclosure in the annual reports. The authors also find that both board independence and gender diversity moderate the relationship between the Covid-19 related information and the level of performance disclosure in the annual reports. The authors further run a robustness analysis, which confirms the main results.\u0000\u0000\u0000Practical implications\u0000The finding is beneficial for the regulatory setters to better understand whether firms provide generic or meaningful Covid-19 information linked to the firm’s performance. The unique findings of this paper are relevant to regulators, governments, management, shareholders and academics.\u0000\u0000\u0000Originality/value\u0000The authors contribute to the literature in a unique and core research area not researched previously. The paper links the Covid-19 disclosure with the firm performance from the corporate narrative perspective. The paper underlines governance factors as a moderating role in this relationship by considering three main mechanisms: board size, board independence and gender diversity.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91086417","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}
Pub Date : 2021-10-07DOI: 10.1108/ijaim-03-2021-0060
K. Katona
Purpose Intellectual capital has become one of the most important factors in the knowledge economy. It is the combination of human capital and structural capital. The purpose of this paper is to examine the effect of intellectual capital, especially the effect of structural capital on the productivity of Hungarian firms between 2007 and 2017. Design/methodology/approach This paper analyzes the impact of intellectual capital on the output of the Hungarian firms in a fixed effect dynamic model, using the lagged dependent and explanatory variables method. This study is based on annual reports of Hungarian enterprises. Findings This study proved that intellectual capital was a relevant source of the effectiveness of the firms in Hungarian industry in the examined period, and structural capital had the strongest impact on productivity of the firms. Research limitations/implications The annual report as database nonetheless bears the specificity and the limitation of the model alike. Labor costs, the proxy for human capital can measure the level only indirectly. Intangible assets, the proxy for structural capital contain more items which are optional. Practical implications The results reflect that the internally developed knowledge became the most relevant source for Hungarian firms to increase their productivity, but externally generated innovation may offer further possible sources to boost their own efficiency. Originality/value Unlike the previous empirical research in Hungary the source of variables in this model is based on the data of annual reports. This database allows to examine a larger panel investigation for a longer period than those methods which collect data on a voluntary basis, e.g. Community Innovation Survey.
{"title":"Intangible assets as possible indicators for the growth of the Hungarian firms","authors":"K. Katona","doi":"10.1108/ijaim-03-2021-0060","DOIUrl":"https://doi.org/10.1108/ijaim-03-2021-0060","url":null,"abstract":"\u0000Purpose\u0000Intellectual capital has become one of the most important factors in the knowledge economy. It is the combination of human capital and structural capital. The purpose of this paper is to examine the effect of intellectual capital, especially the effect of structural capital on the productivity of Hungarian firms between 2007 and 2017.\u0000\u0000\u0000Design/methodology/approach\u0000This paper analyzes the impact of intellectual capital on the output of the Hungarian firms in a fixed effect dynamic model, using the lagged dependent and explanatory variables method. This study is based on annual reports of Hungarian enterprises.\u0000\u0000\u0000Findings\u0000This study proved that intellectual capital was a relevant source of the effectiveness of the firms in Hungarian industry in the examined period, and structural capital had the strongest impact on productivity of the firms.\u0000\u0000\u0000Research limitations/implications\u0000The annual report as database nonetheless bears the specificity and the limitation of the model alike. Labor costs, the proxy for human capital can measure the level only indirectly. Intangible assets, the proxy for structural capital contain more items which are optional.\u0000\u0000\u0000Practical implications\u0000The results reflect that the internally developed knowledge became the most relevant source for Hungarian firms to increase their productivity, but externally generated innovation may offer further possible sources to boost their own efficiency.\u0000\u0000\u0000Originality/value\u0000Unlike the previous empirical research in Hungary the source of variables in this model is based on the data of annual reports. This database allows to examine a larger panel investigation for a longer period than those methods which collect data on a voluntary basis, e.g. Community Innovation Survey.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78412331","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}
Pub Date : 2021-10-07DOI: 10.1108/ijaim-05-2021-0097
M. E. Neves, Mário Abreu Pinto, Carla Manuela de Assunção Fernandes, E. F. Simões Vieira
Purpose This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but with high value (value stocks). Design/methodology/approach The sample comprises monthly data, from January 2002 to December 2016, from seven countries, Germany, France, Switzerland, the UK, Portugal, the USA and Japan. The authors have used linear regression models for three different periods, the pre-crisis, subprime crisis and post-crisis period. Findings The results point out that the performance of value and growth stocks differs from different periods surrounding the global financial crisis. In fact, for six countries, value stocks outperformed growth stocks in the period that precedes the subprime crisis and during the crisis, this tendency remained only for France, Portugal and Japan. This trend changed in the period following the crisis. The results also show that investor sentiment has a robust significance in value and growth stock returns, mostly in the period before the crisis, highlighting that the investor sentiment is more significant in the moments that the value stocks outperformed. Originality/value As far as the authors know, this is the first work that, taking into account the future research lines of Capaul et al. (1993), investigates whether the results obtained by those authors remain current, meeting the authors’ challenge and covering the gap of recent studies on the performance of value and growth stocks. Besides, the authors have introduced a new country, heavily punished by both the global financial crisis and the sovereign debt crisis to understand whether there are significant differences in investment styles and whether this is related to the different economies. Also, in this context, the authors were pioneers in adding investor sentiment as an exogenous variable in the influence of stock returns.
{"title":"Value and growth stock returns: international evidence (JES)","authors":"M. E. Neves, Mário Abreu Pinto, Carla Manuela de Assunção Fernandes, E. F. Simões Vieira","doi":"10.1108/ijaim-05-2021-0097","DOIUrl":"https://doi.org/10.1108/ijaim-05-2021-0097","url":null,"abstract":"\u0000Purpose\u0000This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but with high value (value stocks).\u0000\u0000\u0000Design/methodology/approach\u0000The sample comprises monthly data, from January 2002 to December 2016, from seven countries, Germany, France, Switzerland, the UK, Portugal, the USA and Japan. The authors have used linear regression models for three different periods, the pre-crisis, subprime crisis and post-crisis period.\u0000\u0000\u0000Findings\u0000The results point out that the performance of value and growth stocks differs from different periods surrounding the global financial crisis. In fact, for six countries, value stocks outperformed growth stocks in the period that precedes the subprime crisis and during the crisis, this tendency remained only for France, Portugal and Japan. This trend changed in the period following the crisis. The results also show that investor sentiment has a robust significance in value and growth stock returns, mostly in the period before the crisis, highlighting that the investor sentiment is more significant in the moments that the value stocks outperformed.\u0000\u0000\u0000Originality/value\u0000As far as the authors know, this is the first work that, taking into account the future research lines of Capaul et al. (1993), investigates whether the results obtained by those authors remain current, meeting the authors’ challenge and covering the gap of recent studies on the performance of value and growth stocks. Besides, the authors have introduced a new country, heavily punished by both the global financial crisis and the sovereign debt crisis to understand whether there are significant differences in investment styles and whether this is related to the different economies. Also, in this context, the authors were pioneers in adding investor sentiment as an exogenous variable in the influence of stock returns.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85745840","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}
Pub Date : 2021-09-17DOI: 10.1108/ijaim-05-2021-0092
A. H. Ahmed, Yasean A. Tahat, Yasser Eliwa, Bruce Burton
Purpose Earnings quality is of great concern to corporate stakeholders, including capital providers in international markets with widely varying regulatory pedigrees and ownership patterns. This paper aims to examine the association between the cost of equity capital and earnings quality, contextualised via tests that incorporate the potential for moderating effects around institutional settings. The analysis focuses on and compares evidence relating to (common law) UK/US firms and (civil law) German firms over the period 2005–2018 and seeks to identify whether, given institutional dissimilarities, significant differences exist between the two settings. Design/methodology/approach First, the authors undertake a review of the extant literature on the link between earnings quality and the cost of capital. Second, using a sample of 948 listed companies from the USA, the UK and Germany over the period 2005 to 2018, the authors estimate four implied cost of equity capital proxies. The relationship between companies’ cost of equity capital and their earnings quality is then investigated. Findings Consistent with theoretical reasoning and prior empirical analyses, the authors find a statistically negative association between earnings quality, evidenced by information relating to accruals and the cost of equity capital. However, when they extend the analysis by investigating the combined effect of institutional ownership and earnings quality on financing cost, the impact – while negative overall – is found to vary across legal backdrops. Research limitations/implications This paper uses institutional ownership as a mediating variable in the association between earnings quality and the cost of equity capital, but this is not intended to suggest that other measures may be of relevance here and additional research might usefully expand the analysis to incorporate other forms of ownership including state and foreign bases. Second, and suggestive of another avenue for developing the work presented in the study, the authors have used accrual measures of earnings quality. Practical implications The results are shown to provide potentially important insights for policymakers, creditors and investors about the consequences of earnings quality variability. The results should be of interest to firms seeking to reduce their financing costs and retain financial viability in the wake of the impact of the Covid-19 pandemic. Originality/value The reported findings extends the single-country results of Eliwa et al. (2016) for the UK firms and Francis et al. (2005) for the USA, whereby both reported that the cost of equity capital is negatively associated with earnings quality attributes. Second, in a further increment to the extant literature (particularly Francis et al., 2005 and Eliwa et al., 2016), the authors find the effect of institutional ownership to be influential, with a significantly positive impact on the association between earnings quality and th
{"title":"Earnings quality and the cost of equity capital: evidence on the impact of legal background","authors":"A. H. Ahmed, Yasean A. Tahat, Yasser Eliwa, Bruce Burton","doi":"10.1108/ijaim-05-2021-0092","DOIUrl":"https://doi.org/10.1108/ijaim-05-2021-0092","url":null,"abstract":"\u0000Purpose\u0000Earnings quality is of great concern to corporate stakeholders, including capital providers in international markets with widely varying regulatory pedigrees and ownership patterns. This paper aims to examine the association between the cost of equity capital and earnings quality, contextualised via tests that incorporate the potential for moderating effects around institutional settings. The analysis focuses on and compares evidence relating to (common law) UK/US firms and (civil law) German firms over the period 2005–2018 and seeks to identify whether, given institutional dissimilarities, significant differences exist between the two settings.\u0000\u0000\u0000Design/methodology/approach\u0000First, the authors undertake a review of the extant literature on the link between earnings quality and the cost of capital. Second, using a sample of 948 listed companies from the USA, the UK and Germany over the period 2005 to 2018, the authors estimate four implied cost of equity capital proxies. The relationship between companies’ cost of equity capital and their earnings quality is then investigated.\u0000\u0000\u0000Findings\u0000Consistent with theoretical reasoning and prior empirical analyses, the authors find a statistically negative association between earnings quality, evidenced by information relating to accruals and the cost of equity capital. However, when they extend the analysis by investigating the combined effect of institutional ownership and earnings quality on financing cost, the impact – while negative overall – is found to vary across legal backdrops.\u0000\u0000\u0000Research limitations/implications\u0000This paper uses institutional ownership as a mediating variable in the association between earnings quality and the cost of equity capital, but this is not intended to suggest that other measures may be of relevance here and additional research might usefully expand the analysis to incorporate other forms of ownership including state and foreign bases. Second, and suggestive of another avenue for developing the work presented in the study, the authors have used accrual measures of earnings quality.\u0000\u0000\u0000Practical implications\u0000The results are shown to provide potentially important insights for policymakers, creditors and investors about the consequences of earnings quality variability. The results should be of interest to firms seeking to reduce their financing costs and retain financial viability in the wake of the impact of the Covid-19 pandemic.\u0000\u0000\u0000Originality/value\u0000The reported findings extends the single-country results of Eliwa et al. (2016) for the UK firms and Francis et al. (2005) for the USA, whereby both reported that the cost of equity capital is negatively associated with earnings quality attributes. Second, in a further increment to the extant literature (particularly Francis et al., 2005 and Eliwa et al., 2016), the authors find the effect of institutional ownership to be influential, with a significantly positive impact on the association between earnings quality and th","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88655847","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}
Pub Date : 2021-09-13DOI: 10.1108/IJAIM-07-2021-0136
Siew H. Chan, Qian Song, Pailin Trongmateerut, Laurie H. Rivera
Purpose Extending the study of Chan et al. (2016), this paper aims to focus on specific aspects of performance (conceptual and factual knowledge) to provide insight into whether computer game attributes designed into Prrinciples Aren’t That Hard (PATH) improve performance. Design/methodology/approach A between-subjects experiment is conducted to test the hypotheses. The experimental and control groups are PATH and traditional paper medium, respectively. Findings The results reveal that PATH users perform better on the conceptual knowledge questions compared to the traditional paper medium users. No significant difference in performance on the factual knowledge (computational) questions is found between PATH and traditional paper medium users. Research limitations/implications This study demonstrates that PATH creates an engaging learning environment, which facilitates the acquisition of conceptual knowledge and improved (conceptual) performance. Research can investigate whether technology may be used to facilitate automation of computational tasks which downplay the importance of computational skills (factual knowledge) and focus on the design of computer game attributes in educational or training programs to enhance conceptual knowledge and (conceptual) performance. Practical implications The findings of this study will assist educators and educational technology developers to identify and design motivation-enhancing computer game features to promote remember and understand cognitive processes which improve (conceptual) performance. Originality/value Game-based learning serves as the underlying theoretical framework for the design of PATH used in an experimental study to examine the positive effects of motivation-enhancing computer game attributes on remember and understand cognitive processes which facilitate (conceptual) performance. This study also uses separate measures of performance; that is, conceptual and factual knowledge, to provide additional insight into the findings of Chan et al. (2016).
目的扩展Chan等人(2016)的研究，本文旨在关注性能的特定方面(概念和事实知识)，以深入了解设计成《principles Aren’t That Hard (PATH)》的电脑游戏属性是否能提高性能。设计/方法/ approachA主题之间进行的实验是为了测试假设。实验组为PATH，对照组为传统纸质培养基。结果表明，与传统纸质媒体用户相比，PATH用户在概念性知识问题上表现更好。在事实知识(计算)问题上，PATH和传统纸质媒体用户的表现没有显著差异。研究局限/启示本研究表明，PATH创造了一个引人入胜的学习环境，促进了概念性知识的获取和(概念性)绩效的提高。研究可以调查是否可以使用技术来促进计算任务的自动化，从而降低计算技能(事实知识)的重要性，并将重点放在教育或培训计划中计算机游戏属性的设计上，以提高概念知识和(概念)性能。实际意义本研究的发现将有助于教育工作者和教育技术开发者识别和设计动机增强的电脑游戏功能，以促进记忆和理解提高(概念)表现的认知过程。创意/ valueGame-based学习作为基本理论框架的设计路径中使用一个实验研究检查motivation-enhancing电脑游戏属性的积极作用在记忆和理解的认知过程,促进(概念)的性能。这项研究还使用了单独的绩效衡量标准;也就是说，概念和事实知识，为Chan等人(2016)的发现提供额外的见解。
{"title":"Will game-based learning enhance performance?","authors":"Siew H. Chan, Qian Song, Pailin Trongmateerut, Laurie H. Rivera","doi":"10.1108/IJAIM-07-2021-0136","DOIUrl":"https://doi.org/10.1108/IJAIM-07-2021-0136","url":null,"abstract":"\u0000Purpose\u0000Extending the study of Chan et al. (2016), this paper aims to focus on specific aspects of performance (conceptual and factual knowledge) to provide insight into whether computer game attributes designed into Prrinciples Aren’t That Hard (PATH) improve performance.\u0000\u0000\u0000Design/methodology/approach\u0000A between-subjects experiment is conducted to test the hypotheses. The experimental and control groups are PATH and traditional paper medium, respectively.\u0000\u0000\u0000Findings\u0000The results reveal that PATH users perform better on the conceptual knowledge questions compared to the traditional paper medium users. No significant difference in performance on the factual knowledge (computational) questions is found between PATH and traditional paper medium users.\u0000\u0000\u0000Research limitations/implications\u0000This study demonstrates that PATH creates an engaging learning environment, which facilitates the acquisition of conceptual knowledge and improved (conceptual) performance. Research can investigate whether technology may be used to facilitate automation of computational tasks which downplay the importance of computational skills (factual knowledge) and focus on the design of computer game attributes in educational or training programs to enhance conceptual knowledge and (conceptual) performance.\u0000\u0000\u0000Practical implications\u0000The findings of this study will assist educators and educational technology developers to identify and design motivation-enhancing computer game features to promote remember and understand cognitive processes which improve (conceptual) performance.\u0000\u0000\u0000Originality/value\u0000Game-based learning serves as the underlying theoretical framework for the design of PATH used in an experimental study to examine the positive effects of motivation-enhancing computer game attributes on remember and understand cognitive processes which facilitate (conceptual) performance. This study also uses separate measures of performance; that is, conceptual and factual knowledge, to provide additional insight into the findings of Chan et al. (2016).\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86313160","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}
Pub Date : 2021-08-16DOI: 10.1108/ijaim-05-2021-0094
Minyoung Noh
Purpose This study aims to examine the effect of state culture on the readability of narrative disclosures in annual reports based on firms located in all 50 states of the USA. Design/methodology/approach The author uses the cultural tightness and looseness (Harrington and Gelfand 2014) index at the state level and the BOG index (Bonsall and Miller, 2017) as the primary measures of annual report readability. Findings Using US data from 1994 to 2019, this study finds that the state level of cultural tightness in which firms are located positively affects firms’ annual report readability. In addition, the study finds that the positive effect of cultural tightness on annual report readability is pronounced in subgroups with high litigation risk while the result does not hold with subgroups that have low litigation risk. The results are robust when alternative proxies for annual report readability are used and historical location and the states in which firms are incorporated are considered. Originality/value This study contributes to the growing literature on the determinants of readability in annual report because firms’ narrative disclosure in annual report varies depending on the information environment, litigation risk, embedded in each state culture where firms are located.
目的本研究旨在以美国50个州的公司为研究对象，考察州文化对年度报告中叙事披露可读性的影响。设计/方法/方法作者使用州一级的文化松紧度(Harrington and Gelfand 2014)指数和BOG指数(Bonsall and Miller, 2017)作为年度报告可读性的主要衡量标准。研究结果利用1994年至2019年的美国数据，本研究发现，公司所在州的文化紧密程度对公司年度报告的可读性产生了积极影响。此外，研究发现，文化紧密度对年度报告可读性的正向影响在诉讼风险高的子群体中显著，而在诉讼风险低的子群体中则不存在。当使用年度报告可读性的替代代理并考虑公司注册的历史位置和州时，结果是稳健的。原创性/价值本研究有助于越来越多的关于年度报告可读性决定因素的文献，因为公司在年度报告中的叙述披露取决于公司所在的每个州文化中嵌入的信息环境、诉讼风险。
{"title":"Culture and annual report readability","authors":"Minyoung Noh","doi":"10.1108/ijaim-05-2021-0094","DOIUrl":"https://doi.org/10.1108/ijaim-05-2021-0094","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine the effect of state culture on the readability of narrative disclosures in annual reports based on firms located in all 50 states of the USA.\u0000\u0000\u0000Design/methodology/approach\u0000The author uses the cultural tightness and looseness (Harrington and Gelfand 2014) index at the state level and the BOG index (Bonsall and Miller, 2017) as the primary measures of annual report readability.\u0000\u0000\u0000Findings\u0000Using US data from 1994 to 2019, this study finds that the state level of cultural tightness in which firms are located positively affects firms’ annual report readability. In addition, the study finds that the positive effect of cultural tightness on annual report readability is pronounced in subgroups with high litigation risk while the result does not hold with subgroups that have low litigation risk. The results are robust when alternative proxies for annual report readability are used and historical location and the states in which firms are incorporated are considered.\u0000\u0000\u0000Originality/value\u0000This study contributes to the growing literature on the determinants of readability in annual report because firms’ narrative disclosure in annual report varies depending on the information environment, litigation risk, embedded in each state culture where firms are located.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89479670","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}
Pub Date : 2021-08-16DOI: 10.1108/ijaim-05-2021-0101
A. Issa, Mohammad A. A. Zaid
Purpose Drawing on the multi-theoretical perspective, the primary purpose of this paper is to empirically investigate the inextricably entwined nexus between board gender diversity and corporate environmental performance within cross-country context. Design/methodology/approach Multiple regression analysis on a cross-country panel data analysis was used. Further, the authors applied static panel data estimator ordinary least squares (OLS) as a baseline model with different proxies of gender diversity. In addition, to control for the potential endogeneity problem and providing robust findings, the authors run two-stage least squares (2SLS) and lagged independent variables. Findings The findings clearly unveiled that corporate environmental performance is positively and significantly affected by the level of gender diversity on board. This inextricable and intimate nexus is vastly attributed to the argument that female directors show greater concerns for eco-friendly activities. Practical implications The findings of this study provide useful and fruitful insights for regulatory parties and policymakers to mandate gender quota in electing boardroom members to ameliorate corporate environmental performance. Originality/value To the best of the authors’ knowledge, most of the prior studies have not yet provided a multi-theoretical analysis of the effect of board gender diversity on environmental performance. Thereby, this study handled this contemporary gap and went beyond the narrow perspectives by diving deep with cross-country analysis.
{"title":"Boardroom gender diversity and corporate environmental performance: a multi-theoretical perspective in the MENA region","authors":"A. Issa, Mohammad A. A. Zaid","doi":"10.1108/ijaim-05-2021-0101","DOIUrl":"https://doi.org/10.1108/ijaim-05-2021-0101","url":null,"abstract":"\u0000Purpose\u0000Drawing on the multi-theoretical perspective, the primary purpose of this paper is to empirically investigate the inextricably entwined nexus between board gender diversity and corporate environmental performance within cross-country context.\u0000\u0000\u0000Design/methodology/approach\u0000Multiple regression analysis on a cross-country panel data analysis was used. Further, the authors applied static panel data estimator ordinary least squares (OLS) as a baseline model with different proxies of gender diversity. In addition, to control for the potential endogeneity problem and providing robust findings, the authors run two-stage least squares (2SLS) and lagged independent variables.\u0000\u0000\u0000Findings\u0000The findings clearly unveiled that corporate environmental performance is positively and significantly affected by the level of gender diversity on board. This inextricable and intimate nexus is vastly attributed to the argument that female directors show greater concerns for eco-friendly activities.\u0000\u0000\u0000Practical implications\u0000The findings of this study provide useful and fruitful insights for regulatory parties and policymakers to mandate gender quota in electing boardroom members to ameliorate corporate environmental performance.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, most of the prior studies have not yet provided a multi-theoretical analysis of the effect of board gender diversity on environmental performance. Thereby, this study handled this contemporary gap and went beyond the narrow perspectives by diving deep with cross-country analysis.\u0000","PeriodicalId":46371,"journal":{"name":"International Journal of Accounting and Information Management","volume":null,"pages":null},"PeriodicalIF":30.2,"publicationDate":"2021-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88131560","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}
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