Search results

1 – 10 of over 18000
Article
Publication date: 5 October 2015

Gerard Stone

This study aims to explore the existence and strength of power through focussing on the manner in which accountants exercise power in their advisory relationship with small…

1396

Abstract

Purpose

This study aims to explore the existence and strength of power through focussing on the manner in which accountants exercise power in their advisory relationship with small business.

Design/methodology/approach

Interviews provided insights into accountants’ power-related perceptions, experiences and use of power in the advisory relationship. A questionnaire accessed evidence from small business owner-managers (SBOMs). Power theoretical perspectives informed the analysis of the findings.

Findings

Accountants’ expert and information power is a consequence of SBOMs’ dependence on their accountants’ expertise and knowledge. Accountants construct advisor roles and exercise power in a manner indicating that they attempt to manage rather than exploit power imbalances to the detriment of dependent SBOMs. However, outbreaks of frustration and conflict in the relationship illustrate the difficulties in managing the dysfunctional consequences of power imbalances.

Research limitations/implications

While the findings are restricted to the Australian accountant–small business advisory relationship, they offer a basis for research into the effect of power on the relationship in other national contexts. Research which includes the views of managers of failed small businesses would also extend this work.

Practical implications

The study’s focus on accountants’ experiences can assist practitioners endeavouring to develop advisory relationships with small business and designers of professional development programmes seeking to optimise the value of the advisory relationship.

Originality/value

The paper extends the study of power to the under-researched yet important accountant–small business advisory area. Its findings are of interest to accountants and accounting policymakers who envisage a broadening of accountants’ small business advisory role.

Details

Meditari Accountancy Research, vol. 23 no. 3
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 24 September 2018

Kent Eriksson and Cecilia Hermansson

The purpose of this paper is to determine how three relational attributes – duration, context and trust – are subjectively perceived by bank customers, and how these affect their…

Abstract

Purpose

The purpose of this paper is to determine how three relational attributes – duration, context and trust – are subjectively perceived by bank customers, and how these affect their saving behavior, as defined by monthly flows to mutual funds and the financial products bought and held in stock.

Design/methodology/approach

The authors use a combination of unique bank register and subjective survey data, and a structural equation model for theory development. Four constructs are developed to estimate the structural model, i.e. saving behavior, duration, context and trust.

Findings

The authors find that all three relational attributes have positive effects on saving behavior. The authors also find that duration and context have the largest total effects, and that trust is a mediating variable channeling indirect effects from context and duration to saving behavior.

Practical implications

One implication for bank managers is that it takes time and understanding of customer context to gain customer trust, but that this increases customer savings. Another implication is that the authors confirm that relational attributes can be studied using subjective measures in surveys, and that these have an effect on objective savings behavior. The findings provide an understanding that could develop both the customer’s value and the banks’ business opportunities.

Originality/value

The impact of relationships between bank advisors and their customers in terms of costs and benefits has been studied, but a little research has focused on the attributes of the relationship and how these affect customers’ saving behavior. The study also uses unique objective bank register data, combined with customers’ subjective perceptions of the relationship.

Details

International Journal of Bank Marketing, vol. 37 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 27 May 2014

Kent Eriksson and Cecilia Hermansson

– The purpose of this paper is to develop a model of bank advisor/customer relationships and customer saving behavior.

2912

Abstract

Purpose

The purpose of this paper is to develop a model of bank advisor/customer relationships and customer saving behavior.

Design/methodology/approach

The research is a theoretical review and model development of savings behavior and bank advisor/customer relationships. The review is used for the development of a model of bank advisor/customer relationships, and their effect on savings behavior.

Findings

Findings are a model that distinguishes three kinds of exchange (relational, interimistic, and transaction) in between bank advisor and customer. The three kinds of exchange then influence customer savings behavior.

Research limitations/implications

The implications of this research is that it points to that relationship marketing theory can be used in the analysis of how bank advisors influence customer savings behavior.

Practical implications

For regulators and financial services firms, these findings point to how the role of bank advisors for consumer savings behavior can be analyzed. This is important, as much policy work presumes that advisors influence customer savings behavior, but the knowledge base for that presumption needs to be better understood.

Social implications

The paper contributes toward a better understanding of the social exchange between bank employees and customers as regards savings products.

Originality/value

This paper is original because it includes many theoretical research fields, and because it connects the bank advisor and customer relationship with the customer's savings behavior.

Details

International Journal of Bank Marketing, vol. 32 no. 4
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 18 October 2019

Michael R. Rosella, Vadim Avdeychik and Justin R. Capozzi

This article provides an overview of the US Securities and Exchange Commission’s (SEC) recent approval of a package of rulemakings and interpretations designed to enhance the…

Abstract

Purpose

This article provides an overview of the US Securities and Exchange Commission’s (SEC) recent approval of a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers.

Design/Methodology/Approach

The article provides legal analysis for and historical context of the requirements of the SEC’s adopted rules, Regulation Best Interest and Form CRS in addition to the two separate interpretations under the Investment Advisers Act of 1940, the Standard of Conduct for Investment Advisers; and the Broker-Dealer Exclusion from the Definition of Investment Adviser.

Findings

The SEC’s adopted regulatory package does not adopt a uniform fiduciary standard for broker-dealers and investment advisers but instead promulgates legal requirements and mandated disclosures in order to conform to the SEC’s perceived expectations for reasonable investors.

Practical implications

Investment advisers and broker-dealers should consult with their legal counsel in assessing how and to what extent the new regulatory package is applicable to them.

Originality/Value

This article provides practical guidance from lawyers who have extensive experience with the Investment Company Act, Investment Advisers Act, and the Securities Acts.

Details

Journal of Investment Compliance, vol. 20 no. 4
Type: Research Article
ISSN: 1528-5812

Keywords

Article
Publication date: 19 June 2007

Robert B. Ericson

The paper aims to explain the background and to discuss the implications for broker‐dealers of US Circuit Court of Appeals for the District of Columbia March 30, 2007 decision in…

Abstract

Purpose

The paper aims to explain the background and to discuss the implications for broker‐dealers of US Circuit Court of Appeals for the District of Columbia March 30, 2007 decision in Financial Planning Association v. Securities and Exchange Commission (FPA) vacating Rule 202(a)(11), which had exempted fee‐based brokerage accounts from the Investment Advisers Act of 1940 (the Advisers Act) under certain conditions.

Design/methodology/approach

The paper explains how the distinction between broker‐dealers and investment advisers seemed relatively clear in the past, how fee‐based brokerage accounts began to blur that distinction, how Rule 202(a)(11) allowed broker‐dealers to offer fee‐based brokerage accounts without complying with the Adviser's Act under certain conditions, how the FPA decision vacates Rule 202(a)(11), and potential consequences of the FPA decision for broker‐dealers.

Findings

The paper finds that if FPA stands, it will have broad implications for broker‐dealers that offer fee‐based brokerage accounts, as the Advisers Act contains a variety of requirements that do not apply to traditional brokerage accounts. Broker‐dealers should assess their fee‐based programs and develop strategies for complying with the provisions of the Advisers Act or restrict their programs to remove them from the reach of the Act.

Originality/value

Written immediately after the FPA decision, this paper provides essential guidance to broker‐dealers on how they will have to reposition their fee‐based programs if that decision stands.

Details

Journal of Investment Compliance, vol. 8 no. 2
Type: Research Article
ISSN: 1528-5812

Keywords

Article
Publication date: 9 March 2020

Scott Christopher Woods, Jennifer Grace Cromley and Donald Gene Hackmann

This study explored implementation of the middle school concept (MSC) in Illinois middle-level schools, examining relationships between MSC implementation and schools' relative…

Abstract

Purpose

This study explored implementation of the middle school concept (MSC) in Illinois middle-level schools, examining relationships between MSC implementation and schools' relative wealth, racial/ethnic composition, and achievement levels.

Design/methodology/approach

This quantitative study utilized a sample of 137 Illinois middle-level schools, defined as containing any combination of grades 5–9, including at least two consecutive grade levels and grade 7. Principals completed an online survey, identifying levels of implementation of advisory, teaming with common planning time (CPT), and a composite of both advisory and teaming with CPT.

Findings

Schools with high advisory implementation had significantly higher rates of Latinx enrollments. Schools with lower operating expenditures per pupil were significantly less likely to implement advisory or advisory and teaming. Teaming had a significant relationship with composite PARCC test scores, but there was no significant effect for advisory and no significant interaction of advisory and teaming together.

Practical implications

MSC is more expensive to implement, and affluent districts may have the financial means to absorb these costs. Although teaming facilitated improved state test scores, advisory programming did not result in significantly improved scores.

Social implications

Lack of access to MSC programming in less affluent communities presents an equity issue for low-income students and students of color.

Originality/value

This study contributes to research examining underlying issues of race and poverty and their effects on academic achievement and the effectiveness of the MSC.

Details

Journal of Educational Administration, vol. 58 no. 3
Type: Research Article
ISSN: 0957-8234

Keywords

Article
Publication date: 1 April 1973

Paul Johnson

In a recent report on the role of the Training Adviser commissioned by the Hotel and Catering Industry Training Board there was some detail and discussion of relationships between…

Abstract

In a recent report on the role of the Training Adviser commissioned by the Hotel and Catering Industry Training Board there was some detail and discussion of relationships between training advisers and clients in the industry. The job of developing and maintaining relationships with employers in the industry, motivating clients and changing attitudes was considered by field staff to be one of the most important areas of the job. Relational activitiy, that which focuses on the needs of the adviser and the client in establishing the framework within which they can operate, is clearly a prerequisite to any adviser‐client relationship. It clearly emerged from the interviews that this was an important category of advisory activity. Relation‐ships with clients came up as the most sensitive indicator of satisfaction in the job. For the majority of field staff what happened with clients coloured their whole experience of the job. When a relationship went well and the client was responsive to training then the adviser ‘felt good’, when things went badly with clients then the adviser ‘felt he had had a bad day’. This is clearly an aspect of training advisory work which will continue to be important so long as a service based on individual contact with clients is maintained, and one which merits detailed attention.

Details

Personnel Review, vol. 2 no. 4
Type: Research Article
ISSN: 0048-3486

Book part
Publication date: 14 September 2022

Mazhar Islam, Carmen Weigelt and Haemin Dennis Park

We consider conditions under which firms hire an intermediary advisor in acquisition deals. Although acquirers pay large advisory fees to investment banks for their assistance in…

Abstract

We consider conditions under which firms hire an intermediary advisor in acquisition deals. Although acquirers pay large advisory fees to investment banks for their assistance in acquisitions, we know little about the conditions under which acquirers form a relationship with an investment bank for an acquisition deal. Specifically, we examine the role of overall acquisition experience, acquisition experience specific to the target’s industry, prior relationship-specific experience, and deal size in relationship formation and continuation. We test their hypotheses using a dataset of US-based acquirers and targets between 1991 and 2015. Our findings provide nuanced insights into the role of acquisition experience for acquirer–investment bank pairing up on acquisition deals.

Article
Publication date: 13 November 2017

Cecilia Hermansson

The purpose of this paper is to understand if and how saving motives can predict bank customers’ use of financial advisory services. In addition, it analyzes possible gender…

1397

Abstract

Purpose

The purpose of this paper is to understand if and how saving motives can predict bank customers’ use of financial advisory services. In addition, it analyzes possible gender differences regarding this relationship.

Design/methodology/approach

The study uses a large and unique sample of Swedish bank customers, combining objective bank register data with subjective data from a questionnaire. A probit regression is used. Since decisions regarding the use of financial advisory services can be influenced by, e.g., age, wealth, gender and marital status, the author analyzes results at both the overall level and the group level.

Findings

All three saving motives are found to be predictors, i.e., motives to save for wealth, retirement, and a rainy day (with opposite sign). Only the motive to save for retirement is significant for both women and men. Wealth differences seem more important than gender differences, except for the rainy day motive where gender differences are observed also among the wealthy.

Practical implications

The study is important since there is a need for financial advisors to understand their customers’ context, including motives to save. Saving motives involving longer time horizons and more uncertainty are likely to predict the use of financial advisory services.

Originality/value

This paper is original because it deepens the understanding of the relationship between saving motives and customers’ use of financial advisory services, focusing also on the aspect of gender differences, while controlling for demographics and socioeconomics, and customers’ interest and confidence in financial matters, risk tolerance, and financial literacy.

Details

Managerial Finance, vol. 43 no. 11
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 8 December 2023

Ummya Salma and Md. Borhan Uddin Bhuiyan

This study aims to examine whether the presence of advisory directors affects firm discretionary accruals (DACC), a widely used proxy for financial reporting quality. The authors…

Abstract

Purpose

This study aims to examine whether the presence of advisory directors affects firm discretionary accruals (DACC), a widely used proxy for financial reporting quality. The authors argue that the advisory director weakens the board monitoring role and impairs the firm financial reporting quality by increasing DACC.

Design/methodology/approach

The sample consists of listed firms on the Australian Stock Exchange from 2001 to 2015 using 7,649 firm-year observations. The authors perform descriptive statistics, regression and propensity score matching analyses to examine the research hypothesis.

Findings

The research evidence that firms with a higher presence of advisory directors have more DACC, indicating poor financial reporting quality. Furthermore, the authors categorize the DACC and find that the firm has higher income-increasing DACC in the presence of higher advisory directors. The findings are robust concerning endogeneity issues.

Research limitations/implications

The research evidence that firms with a higher presence of advisory directors have more DACC, indicating poor financial reporting quality. Furthermore, the authors categorize the DACC and find that the firm has higher income-increasing DACC in the presence of higher advisory directors. The findings are robust concerning endogeneity issues.

Practical implications

The research contributes valuable insights for regulators and policymakers seeking to comprehend the implications of firms using more advisory directors. Additionally, the authors recognize the potential significance of the findings for the institution of directors, as they can provide a nuanced understanding of the specific roles played by advisory directors in organizational dynamics.

Originality/value

While the extensive body of literature on corporate governance and financial reporting quality has been well-established, a noticeable void exists in academic research delving into the relationship between advisory directors and DACC management. This study seeks to fill this gap, making a distinctive and original contribution to the existing literature on corporate governance.

Details

International Journal of Accounting & Information Management, vol. 32 no. 2
Type: Research Article
ISSN: 1834-7649

Keywords

1 – 10 of over 18000